ACCA F5: exam 2023 with well answered questions - main exam
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Course
ACCA
Institution
ACCA
What is the standard labour cost to include in the standard cost card for the product when there is a learning rate?
Standard cost should be the number of hours per unit AFTER LEARNING EFFECT WEARS OFF multiplied by the hourly rate
material flow cost accounting (MFCA) = typical costs
Syste...
ACCA F5: main exams
What is the standard labour cost to include in the standard cost card for the product when there is a learning rate?correct answerStandard cost should be the number of hours per unit *AFTER LEARNING EFFECT WEARS OFF* multiplied by the hourly rate
material flow cost accounting (MFCA) = typical costscorrect answerSystem costs + Energy costs + material flow + disposal flow
How to calculate labour cost when labour is moved from another project?correct answerTotal cost = direct cost of labour for new product + lost contribution from the previous product
What is a target cost gap?correct answerDifference between the actual cost and expeted cost
haw to calculate learning without knowing b?correct answerb = log(learning rate in %) / log (2)
Minimum transfer price when the division is able to fully satisfy internal and external demandcorrect answerVariable cost to produce +/- any variable costs or savings. Ignore external price.
Variable cost = sales price - contribution
When calculating life-cycle costs - don't forget to include anything that was already incurred.correct answer
OAR + formulacorrect answerOverhead Absorption Rate = Total overheads / Total number of hours worked for all products
May not necessarily be hours, however it needs to be stated explicitly OAR per unitcorrect answerMultiply OAR by the number of hours (or other factor) used for each unit
activity based recovery ratecorrect answerTotal fixed cost of a relevant acitvity / Total number of components form that activity used by production.
E.g. if total component fixed costs are 5 000 and 1000 produced units used 2000 components in total (2 for each) then recovery rate is BSC 4 key elementscorrect answer1) Customer - What do existing and new customers value from us?
2) Internal - What processes must we excel at to achieve our financial and customer objectives?
3) Innovation and learning - Can we continue to improve and create future value?
4) Financial - How do we create value for our shareholders?
ROI: if item was purchased in year 1 for 5k, treating it as CAPEX. how will this affect:
PBIT? Asset base?correct answerPBIT: not affected on the initial purchase, however all cash flows generated from this item shall be added;
Asset base: shall be increased by 5k and left (unless stated otherwise) for the remaining period
Structure of a profit statementcorrect answer1. Sales revenue 1.1 Internal
1.2 External
2. Variable costs
2.1 labour
2.2 material
2.3 others
3. Contribution (1 - 2)
4. Fixed costs
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