1)List the following as either life cycle costing or target costing

a)Value analysis
b)Cost of product vs market price

2)Which are potential and principles of budget factor
a)Direct Labour
b)Market Budget
c)Raw Materials
d)Production Budget

3)In terms of high inflation, with regards to a manufacturing company, are the following true or false
a) Material input price increases
b) Historical cost depreciation expenses for assets increases
c) FIFO lower the cost of sales

4)Using standard costing, what is the adverse sales volume contribution variance?

(Budget) (Actual)
Sales 5000 40 000
Selling price p.u 40 38
Variable cost p.u. 15 14

5)which of the following can be entered in computer spread sheet
a)text
b)cell
c)formula
d)none of the above

6)List the consequence below under top down budgeting or bottom up budgetting

a) More time spent
b) Budget holder set easy to get target

7) Which are true about Positive/Partial Correlation

a)Lower value of X associate with Y
b)Higher value of X associate with Y
c)No relation

Those who know the answer please note down the correct answers

- compound interest
- job cost, batch cost

<cite> THE TIME SHOULD ME LONGER FOR US TO THINK MORE CARELY, SERIOUSLY IF ME GET MORE TIME MOST PEOLE WOULD HAVE PASS THEN THE USUAL………

You have included 800 units for materials in opening wip which should be 0.
You have also used 900 units for closing wip which should be 3000.
The reason is that the question states that all materials are input at the commencement of the process, thus you do not need to account for materials in opening wip as it has already been accounted for in the previous period but you do need to account for the whole 3000 units for the last period as the only work remaining relates to conversion costs.

I hope this helps.