3/17/25, 10:45 AM MIDTERM

MIDTERM Tổng điểm 0/31

MI2

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0/1 điểm

STT/Tên/Lớp tín (Chi tiết LT1 hoặc LT2) *···/1

Thông tin này yêu cầu SV làm đúng trình tự theo hướng dẫn chi tiết ở
trên)

21/ Trương Lê Thu Trang/ 22.3-LT2

MI2 (Q2) 0/30 điểm

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Câu 28: * ···/1

A, then B, then C

B, then A, then C

A, then C, then B

C, then B, then A

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Câu 29: Rachel’s bakery makes a single product, the Bread. This product *···/1
sells for £3, variable costs are £1 per unit. Total fixed costs per annum
are £15,250.

If Rachel wishes to make an annual profit of £14,000 how many Bread

does she need to sell?

7,625 units

9,750 units

14,000 units

14,625 units

Không có câu trả lời đúng

Câu 1: Which of the following is NOT one of the main purposes of a *···/1
budget?

To compel planning

To inform shareholders of performance

To communicate ideas and plans

To provide a framework for responsibility accounting

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Câu 26: Is the following statement about contribution true or false? *···/1

“Contribution per unit is the difference between the selling price per unit
and the variable costs per unit”

True

False

Không có câu trả lời đúng

Câu 3: Nimo Co. is going to prepare a budgeted income statement for *···/1
the six months ending on 31 December 20X2.

Monthly sales are forecasted to be £4,000 for July, £5,500 for each of
August and September and £6,000 per month from October onwards.

Selling price is fixed to generate a margin of 30%.

Overhead expenses (excluding depreciation) are estimated at £1,000 per

month.

The company plans to purchase non-current assets on 1 July costing

£6,000, which will be paid for at the end of September and are expected
to have a five-year life (with no residual value).

The budgeted net profit for the six month ending 31 December 20X2 is

£2,700

£3,300

£3,600

£7,700

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Câu 22: A company has a budgeted material cost of $125,000 for the *···/1
production of 25,000 units per month. Each unit is budgeted to use 2 kg
of material. The standard cost of material is $2.50 per kg.

Actual materials in the month cost $136,000 for 27,000 units and 53,000
kg were purchased and used.

What was the adverse material price variance?

$1,000

3,500

$7,500

$11,000

Không có câu trả lời đúng

Câu 15: Division A is a profit centre within PC Ltd. Over which of the *···/1
following is the manager of division A likely to have control?
(1) Transfer prices

(2) Level of inventory in the division

(3) Discretionary fixed costs incurred in the division

(4) Discretionary fixed costs incurred in the division

(1), (2), (3) and (4)

(1), (2) and (3) only

(1) and (2) only

(1) only

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Câu 9: Which of the following is/are (a) reason(s) for holding inventory? * ···/1
(i) to ensure continuity of production

(ii) to reduce ordering costs

(iii) for technical reasons

(iv) to take advantage of quantity discounts

(iii) only

(i) and (ii) only

(i), (ii) and (iv) only

All of the above

Không có câu trả lời đúng

Câu 5: Is the following statement true or false? *···/1

“An advantage of the high-low method of cost estimation is that it takes
into account the full range of available data.”

True

False

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Câu 11: Is the following statement true or false? *···/1

“Perpetual inventory method is a system where by inventory levels are

reviewed at fixed time intervals to fit in with production schedules, and
variable quantities are ordered as appropriate.”

True

False

Không có câu trả lời đúng

Câu 12: Is the following statement true or false? *···/1

“The key trade-off that lies at the heart of working capital management is
that between business stability and solvency.”

True

False

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Câu 21: Which of the following best describes management by *···/1

exception?

Using management reports to highlight exceptionally good performance, so that

favourable results can be built upon to improve future outcomes

Sending management reports only to those managers who are able to act on the
information contained within the reports

Focusing management reports on areas which require attention and ignoring

those which appear to be performing within acceptable limits

Focusing management reports on areas which are performing just outside

acceptable limits

Không có câu trả lời đúng

Câu 13: Which of the following is NOT an example of budget bias? *···/1

I) A production manager overestimates costs when setting the budget so

that they will not be blamed for overspending in the future

II) A sales manager underestimates revenues when setting the budget to

guard against poor results.

III) A manager try to ensure that his spending rises to meet his inflated
budget.

IV) A manager overestimates revenues when setting the budget in order

to make a favourable impression on senior managers.

None of the above

I, II and III

II and III

All of the above

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Câu 30: Is the following statement about margin of safety true or false? *···/1

“The margin of safety is the difference in units between the budgeted

sales volume and the actual sales volume”

True

False

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Câu 7: * ···/1

£13,500

£13,200

£5,100

£4,800

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Câu 20: * ···/1

$6,000 Favourable

$20,000 Adverse

$22,000 Favourable

Nil

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Câu 2: What does a master budget comprise? * ···/1

The budgeted statement of profit or loss

The budgeted cash flow, budgeted statement of profit or loss and budgeted
statement of financial position

The budgeted cash flow

The entire set of budgets prepared

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Câu 10: A manufacturing company uses 25,000 components at an even *···/1

rate during a year. Each order placed with the supplier of the
components is for 2,000 components, which is the economic order
quantity. The company holds a buffer inventory of 500 components. The
annual cost of holding one component in inventory is £2.

What is the total annual cost of holding inventory of the component?

£2,000

£2,500

£3,000

£4,000

Không có câu trả lời đúng

Câu 17: Is the following statement about budgetary control true or *···/1
false?

“At the end of each period, actual results may be compared with the any
activity level in the fixed budget as a control procedure.”

True

False

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Câu 23: Is the following statement true or false? *···/1

“‘Material price increase’ is one of the reasons for a favourable material

price variance”

True

False

Không có câu trả lời đúng

Câu 16: What is a budget cost allowance? * ···/1

A budget of expenditure applicable to a particular function

A budget allowance which is set without permitting the ultimate budget manager
the opportunity to participate in setting the budget

The budgeted cost expected for the actual level of activity achieved during the
period

A fixed budget allowance for expenditure which is expected every period,

regardless of the level of activity

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Câu 18: Is the following statement about balanced scorecard true or *···/1
false?

“The balanced scorecard approach to the provision of information

focuses on four different perspectives: suppliers, innovation and
learning, financial and internal business.”

True

False

Không có câu trả lời đúng

Câu 27: A company manufactures a single product for which cost and *···/1
selling price data are as follows:

Selling price per unit: £20

Variable cost per unit: £10

Fixed costs per month: £50,000

Budgeted monthly sales (units): 8,000

The margin of safety, expressed as a percentage of budgeted monthly

sales, is:

68.75%

60.00%

37.50%

31.25%

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Câu 24: Is the following statement true or false? *···/1

“A standard cost per unit is the expected, or normal, cost per unit, based
on expectations (standards) for usage and price per unit of resources”

True

False

Không có câu trả lời đúng

Câu 25: Is this true or false if material is identified as limiting factor in *···/1
the case as follows?

It needs 3 kg of material X and 2 machine hours to produce one unit of

product A and those of 2 kg and 1.5 hours for product B. It was expected
that 6,000 machine hours and 10,000 kg of X being available for
production. Sales demand was 2,000 units for each product.

True

False

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Câu 4: Which of the following best describes a ‘top-down’ budget? * ···/1

A series of budgets is prepared, from the most optimistic performance down to the
most pessimistic.

Top management prepare a budget with little or no input from operating

personnel.

A budget which is set by delegating authority from top management, allowing

budget holders to participate in setting their own budgets.

A budget which has been set by scaling down individual expenditure items until the
total budgeted expenditure can be met from available resources.

Không có câu trả lời đúng

Câu 6: Cash budget is a functional budget. Is it true or false? * ···/1

True

False

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Câu 8: The purchase price of an inventory item is £42 per unit. In each *···/1
three‐month period the usage of the item is 2,000 units. The annual
holding costs associated with one unit is 5% of its purchase price. The
EOQ is 185 units.

What is the cost of placing an order (to 2 decimal places)?

£0.02

£0.05

£4.49

£8.98

Không có câu trả lời đúng

Câu 19: A company manufactures a single product L, for which the *···/1
standard material cost is as follows.

Material: 14 kg * $3 = $42 per unit

During July, 800 units of L were manufactured, 12,000 kg of material

were purchased for $33,600, of which 11,500 kg were issued to
production.

This company values all inventory at standard cost.

What are the material price and usage variances for July?

Price: $2,300 (F); Usage: $900 (A)

Price: $2,300 (F); Usage: $300 (A)

Price: $2,400 (F); Usage: $900 (A)

Price: $2,400 (F); Usage: $840 (A)

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Câu 14: Within decentralised organisations there may be cost centres, *···/1
investment centres and profit centres. Which centres have the highest
and lowest degree of autonomy respectively?

Investment centres and Cost centres

Profit Centres and Cost Centres

Cost Centres and Revenue Centres

All responsibility centres have the same degree of autonomy

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