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ACC20020 Management Accounting
Question:
Learning Outcomes
An examination is intended to enable a learner to demonstrate their attainment of specified learning outcomes. Marks will be awarded based upon the extent to which they meet or exceed the intended learning outcomes, in accordance with QQI Assessment and Standards,.
In marking this examination, examiners will assess the learner’s ability to:
1. Explain Overhead recovery rates and how they apply to the costing system
2. Utilise appropriate information and communications technologies to investigate and comment on costs incurred in a business and describe and apply various stock valuation methods.
3. Utilise appropriate information and communications technologies to collect, calculate and explain standard costing systems.
Question 1.
A company budgeted to produce 3,000 units of a single product in a period at a budgeted cost per unit, built up as follows:
€/unit
Direct costs 24
Variable overhead 10
Fixed overhead 18
€52
In the period covered by the budget:
• Actual sales were 3,500 units and inventory levels decreased by 300 units
• Actual fixed overhead expenditure was 5% above that budgeted
• Other costs were as budgeted per unit.
Required:
(a) What are the number of units produced in the period? (5 marks)
(b) What are the budgeted fixed overhead for the period? (5 marks)
(c) What is the under/over absorption of Overhead for the period? (10 marks)
(d) Give 2 reasons why a business would use Absorption costing? (5 Marks) Total (25 Marks)
Question 2.
Linger Ltd. produces one type of product. The budget for the year reveals the following:
Selling price per unit €56
Variable cost per unit €36
Total fixed cost €120,000
Budgeted profit €25,000
Required:
(a) Calculate the breakeven point in sales units for the budgeted figures above. (6 marks)
(b) Calculate the breakeven points in Sales revenue (4 marks)
(c) Calculate the breakeven point in sales units and revenue if the budget selling price was €60 instead of €56 as is given above. (10 marks)
(d) Give 2 Limitations Of Breakeven Analysis (5 marks) Total (25 marks)
ACC20020 Management Accounting
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