Cost And Management Accounting N5 — Document
November 2019 — N5 — Cost And Management Accounting
N5
2019
Nated Business
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Q1— Section header —
1.1Various options are given as possible answers to the following question Choose the answer and write only the lette r (A
1.1.20\in the ANSWER BOOK.
1.1.1Rates and taxes are paid towards the land and buildings of the company sunk period
1.1.2other aspects than the money value. Cost Internal Financial Management
1.1.3Which ONE of the following will NOT be associated with prime cost? Direct labour Direct material
1.1.4Which ONE of the following is NOT ONE of the three types of costs that play an important role in materials stock control? Cost of placing the order Out
1.1.5Which ONE of the following will NOT influence the selecti ng supplier? The cost to keep raw material in stock
1.1.6Under recovery manufacturing overheads mean the allocated overheads are more than the actual overheads.
1.1.7total cost of material used for the year. gross profit for the year. equity and liability of the business for the year. cost of production of finishe d goods for the year.
1.1.8The manufacturing overhead control account is drawn to calculate total actual overheads spent during a financial period. total primary costs. cost of material used for the period. net profit for the peri
1.1.9Applied manufacturing overheads mean total manufacturing overheads paid for the year. allocating manufacturing overheads to a specific item. forecasting the manufacturing overheads for a future period.
1.1.10aintaining personnel records. ordering of raw materials needed for production. staff remuneration.
1.1.11EOQ means equity organisation quantit economic organisation quantity
1.1.12the completed products intended for sale. products that are not yet ready to be sold. secondary raw materials needed in the p roduction process. raw materials that can be seen in a product.
1.1.13the number of units produced. buying the business premises. setting goals for the business.
1.1.14Long term decisions in the company involve ... what media to use for advertising new products . investing in a new plant.
1.1.15shareholders in the company. owners of the company. names of suppliers in the company. working units or manageable divisions in the company.
1.1.6The formula to use when calculating depreciation according to the diminishing balance method Units produced this financial period multiplied by the cost per
1.1.17refer to the direct production costs.
1.1.18nly three types of costs play an important role in material stock control. Which ONE of the following is NOT one of them? Out
1.1.19actual time spent on a specific job. actual cost of a specific job. time recorded on the cl ock card. remuneration of workers.
1.1.20manufacturing cost. labour cost. time lost due to various reasons.
2.1The term integrated accounting refers to a single accounting system wh ich includes both financial and cost accounts. 1.
2.2Clock cards are used to record information regarding the actual hours worked by each employee. 1.
2.3Management accounting is concerned with the provision of information to people outside t he business. 1.
2.4Allocation rates will be budgeted overheads divided by a suitable basis. 1.
2.5When recording direct material purchased one will debit the creditors control account and credit the material control account. (5 2\ (10\
1.3Indicate whether the following descriptions are examples of DIRECT MANUFACTURING COST, INDIRECT MANUFACTURING COST or NON MANUFACTURING COST. Choose the answer and write only Direct manufacturing cost
1.3.5\the ANSWER BOOK.
1.3.1Wages paid to workers moving scaffolding on the building site.
1.3.2Wages paid to workers assembling components of production.
1.3.3Wages paid to t he cleaners cleaning the administration offices.
1.3.4Wages paid to the painter on the factory maintenance team.
1.3.5Wages paid to workers for idle time when a machine breaks down (5 2\ (10\ [60] TOTAL SECTION A: 6060
Q2— Section header —
2.1Raw aterial (6\
2.2Labour ontrol (5\
2.3Manufactured overheads control (8\
2.4Production ontrol (8\
2.5Finished oods (5\
2.6Cost of ales (4\
2.7Profit and loss (4\ [40] QUESTIO N 3 The following appears in the books of Mavesh Manufacturers concerning item MAC33 DESCRIPTION Annual usage of material40
3.1The order point (4\
3.2The econo mic order quantity (6\
3.3The maximum stock level (5\
3.4The average stock (5\ 0] 4010185
Q4— Section header —
4.1Prepare a roduction ost tatement for the year ended on 28 February 2017
4.2Calculate the income statement for the year ended on 28 February 2017 (10\ 0] 4010185
Q5— Section header —
Q6— Section header —
6.1The following applies to Calvin Meeto, an employee who is paid weekly: Normal working hours per week Hours worked Number of units produced
6.2You are the cost accountant of Locter Ltd, a company that produces and sells woode tables You
6.2.1The total production cost for August (8\
6.2.2Total production cost per unit for August (2\ [30] TOTAL SECTION B: GRAND TOTAL: 140 20030
Topics Identified
6
DepreciationManufacturingBudgetingFinancial StatementsCompaniesCreditors Control
Mark Allocation
Total140 marks
Sections60 + 40 + 30 = 130 marks
Paper information
TitleDocument
SubjectCost And Management Accounting
LevelN5
Document typeQuestion paper
Year2019
MonthNovember
Pages11
Downloads4
Examination context
Decade2010s
Years ago7y
SeasonSpring (SH)
Start dayFriday
Exam periodNovember 2019
Days since exam2,536
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