F2 Revision Mock exam

This topic has 5 replies, 3 voices, and was last updated 8 years ago by John Moffat.

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June 7, 2014 at 2:44 pm #175022
Banu
- Topics: 5
- Replies: 12
https://opentuition.com/acca/f2/f2-revision-mock-exam/

Mr John I would appreciate your guidance on following questions
really sorry for asking so many questions but I really want to understand …

10.
average empl. = (2000+2200)/2=2100
2000-400=1600 + 600=2200 replacement=600

labour turnover = 600/2100=28.57%

But the correct answer is 19%?

12.
Act fix o/h abs cost 117600
Abs fix o/h abs Cost 126000 (117600+8400)

budg labour 72000
budg fix o/h 108000
FOAR = 108000/72000= $1.5

I am lost how do I get the act hrs worked? 117600/1.5?

18. D=6000
R=5000
CH=$2
Setup Cost $600 = Co? or Component Cost $20

is this correct?
EBQ= root(2*Co*D)/(Ch(1-D/R))
(2*600*6000)/(2*(1-6000/5000))

25.
Act fix o/h 30000*3*8=720000
abs 700000
diff 20000 under absorbed

why overabsorbed?

31.
labour eff var
act hrs worked 85000
stnd hrs at act prod 28,000*3hrs=84000
diff 1,000 hrs more *(180000/30000=) $6= 6000 Fav

why 2000 F

32.is opening inv of 4000 not abs the FOAR
4000+30000-25000=9000*8*3?
only what we produce?

BQ2
a. Mat price var
act purch act price 108000
act purch*stnd price
24000*$5= 120000
diff 12000 Fav (we paid less than stnd price) or did you oversee something?

Q3
c. asset turnover = Revenue/Total long term liab = 500/200=2.5 to the nearest whole number would be 3 but why 5 is the correct answer?
June 7, 2014 at 4:08 pm #175035
Banu
- Topics: 5
- Replies: 12
Mr John, now i got the answer for
32. abs profit
add op inv
less clos inv
marginal profit

25. as well 🙂
Act 700000
abs 30000 (prod.)*8*3= 720000
diff 20000 over abs which means over charges – adj will increase profit

right?

But for other question mentioned above – still puzzled
June 8, 2014 at 7:32 am #175120
John Moffat
Keymaster
- Topics: 57
- Replies: 49961
Q10

If 400 left then only 400 can have been replaced (the rest are new employees)
So 400/2100

Q12

The amount absorbed = actual hours worked x absorption rate

Q18

R is rate of production per year. It is 5000 per month, so 12 x 5000 = 60000 per year.

25

Correct
June 8, 2014 at 11:38 am #175164
Banu
- Topics: 5
- Replies: 12
Great thank you all 4 answers clear

please help me also to understand

Q31
lab eff var
Act hrs worked 85000
Stnd hrs for act prod
28000u *3= 84000

Variance 1000*2(180000/30000*3)= 2000 Adv (because we act hrs worked is more means not efficient) but why is it Fav?

BQ2
a. Mat price var
act purch act price 108000
act purch*stnd price
24000*$5= 120000
diff 12000 Fav (we paid less than stnd price) or did I oversee something?

Q3
c. asset turnover = Revenue/Total long term liab = 500/200=2.5 to the nearest whole number would be 3 but why 5 is the correct answer?
June 8, 2014 at 4:07 pm #175229
Grace
- Topics: 8
- Replies: 15
For Q31: actual worked hours – standard hs for actu prod =2000, means 2000hs was saved, better for profit, so it’s Fav
For BQ2: 12000Fav is right, Mr John said he will correct the given answer 12000 Adv
For Q3, I am also confused , hope Mr John could help us! 🙂
June 9, 2014 at 7:27 am #175308
John Moffat
Keymaster
- Topics: 57
- Replies: 49961
I am sorry – it is another error 🙁

The correct answer is indeed 2.5
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