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F2 Specimen Exam

This topic has 3 replies, 2 voices, and was last updated 9 years ago by John Moffat.

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November 15, 2015 at 7:32 pm #282691
sburge
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hi
i have just one question about the Specimen Exam Paper that is in the revision kit:
Question 4, includes the $63,000 for the fixed production costs, but why are the $12,000 fixed selling costs ignored? is this to do with only production costs being absorbed into the 14000 units produced?
many thanks.
November 15, 2015 at 7:53 pm #282699
John Moffat
Keymaster
- Topics: 57
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I am sorry, but I have absolutely no idea which revision kit you are using – there are many publishers who produce revision kits.
Without therefore being able to see the question I cannot help you.
November 15, 2015 at 8:07 pm #282703
sburge
Participant
- Topics: 2
- Replies: 7
sorry i should have said on the this site the Live Revision kit – Lectures based on the F2 Past ACCA exams
or posted the link:
https://opentuition.com/acca/f2/acca-f2-specimen-exam-section-a-lecture-1/
Its question 4
November 16, 2015 at 7:06 am #282737
John Moffat
Keymaster
- Topics: 57
- Replies: 54500
It is the fixed overheads in the inventory valuation that create the difference between marginal and absorption profits.
When valuing inventory we only ever take into account costs of production – never selling or admin costs.
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