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F2 Revision Mock exam

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA โ€“ FIA FMA › F2 Revision Mock exam

  • This topic has 5 replies, 3 voices, and was last updated 8 years ago by John Moffat.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • June 7, 2014 at 2:44 pm #175022
    Banu
    • Topics: 5
    • Replies: 12
    • โ˜†

    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
    • โ˜†

    Mr John, now i got the answer for
    32. abs profit
    add op inv
    less clos inv
    marginal profit

    25. as well ๐Ÿ™‚
    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
    • โ˜†โ˜†โ˜†โ˜†โ˜†

    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
    • โ˜†

    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
    • โ˜†

    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! ๐Ÿ™‚

    June 9, 2014 at 7:27 am #175308
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49961
    • โ˜†โ˜†โ˜†โ˜†โ˜†

    I am sorry – it is another error ๐Ÿ™

    The correct answer is indeed 2.5

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