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MAC1501 ASSESSMENT 2 SEM 1 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS
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UNISA 2024 MAC1501-24-S1 Welcome Message Assessment 2OSCAR The tutor
QUIZ +27737560989
for
Fac,Mac,ECS,DSC,FIN,QMI,BNU,TAX,I
NV, MNB,MNG tutoring
Started on Tuesday, 26 March 2024, 11:45 AM
State Finished
Completed on Tuesday, 26 March 2024, 12:03 PM
Time taken 17 mins 47 secs
Marks 29.00/32.00
Grade 90.63 out of 100.00
Question 1
Complete the following statements by choosing the correct answer:
Partially correct
Mark 1.00 out PAYE is calculated on total gross wages after allowing for the UIF contribution
of 2.00
.
Cost behaviour refers to how a cost behaves at different volumes of activity.
OSCAR The tutor
+27737560989
for Fac,Mac,ECS,DSC,FIN,QMI,BNU,TAX,INV, MNB,MNG
tutoring
,Question 2
Complete the following statement by choosing the correct answer:
Correct
Mark 2.00 out In a perpetual inventory system, the inventory of materials control account is credited
of 2.00
with every issue of materials to production, and the work-in-progress control account is
debited .
Question 3
Complete the following statements by choosing the correct answer:
Correct
Mark 2.00 out The variable cost per unit is R10 and the total fixed costs are R275 000. If the number of units
of 2.00
produced increased by 5%, the total fixed costs would
remain the same total amount of R275 000. .
Under the perpetual system a continuous record of purchases and issues of
inventory is maintained, with the inventory values of each item being updated for each movement.
Question 4
Complete the following statements by choosing the correct answer from the options provided:
Correct
Mark 2.00 out Normal capacity is described as the
of 2.00
production expected to be achieved on average over a number of periods or seasons under
In decision making, managers use
whatever information that is relevant to the decision even though the information may not c
,Question 5
Ndwedwe Pty Ltd prints a book titled Izithakazelo. Complete the following statements by choosing
Correct
the correct answer from the list of options provided.
Mark 2.00 out
of 2.00
Depreciation on the equipment used to print the book would be classified as a product
cost.
However, depreciation on any other equipment used by the company in selling and administrative
activities would be classified as period cost.
Question 6
Complete the following statements by choosing the correct answer from the options provided:
Partially correct
Mark 1.00 out The overtime premium paid to all factory workers is usually considered to be part of
of 2.00
direct labour .
According to the weighted average method the cost of each unit is determined
from the weighted average of the cost similar items at the beginning of a period and the cost of
similar items purchased or produced during the period.
Question 7
Complete the following statements by choosing the correct answer from the options provided:
Partially correct
Mark 1.00 out A method of accounting for overheads which involves attributing them to cost units using
of 2.00
predetermined rates is known as overhead allocation .
First-in- first-out inventory valuation method assumes that the items received
earliest are those that are issued first.
, Question 8
Complete the following statements by choosing the correct answer from the options provided:
Correct
Mark 2.00 out According to traditional costing all the production overheads are pooled together –
of 2.00
either for the factory as a whole or per production department.
Period costs are costs that are taken directly to the income statement as expenses
in the period in which they are incurred or accrued.
OSCAR The tutor
+27737560989
for Fac,Mac,ECS,DSC,FIN,QMI,BNU,TAX,INV, MNB,MNG tutoring
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