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# BALIUAG UNIVERSITY

CPA REVIEW 2013-14
MANAGEMENT ADVISORY MANAGEMENT – FIRST PRE-BOARD
JACF
EXAM
__________________________________________________________________________________________________
1.
Oct.
Nov.
Dec.
Sales
200,000
210,000
220,500
Beginning inventory
(150,000)
(168,000)
(176,400)
Ending inventory: (210,000 x 80%)
168,000
(220,500 x 80%)
176,400
(220,500 x 1.05 x 80%)
______
______
185,220
Required production
218,000
218,400
229,320 =
665,700
2.
Amswer: C Nyclyn: 24 / 0.80 x 15
=
450
Salex: 19.2 / 0.80 x 21 =
504
Protet: 10 x 28
=
280
1,234
3.
Answer: D Spending: (AT x AVR) – (AT x SVR)
[53,500 x (P315,000 / 53,500)] – [(53,500 x (P3,600,000 / 600,000)]
P315,000 – P321,000 = 6,000 F
Efficiency: (AT x SVR) – (ST x SVR)
P321,000 – [(26,000 units x 2 DLH) x P6] = 9,000 U
4.
Fixed Spending: (AFxOH – BFxOH)
P260,000 – (P3,000,000 / 12) = 10,000 U
Fixed Volume: [BFxOH – (ST x SFxOH)]
P250,000 – (26,000 x 2 x P5) = 10,000 F
5.
=
P108,000
Less: Std. Time x Std. Fixed Overhead: [24,000 x (108,000 / 27,000)
=
96,000
Unfavorable volume variance
P
12,000
6.
Variable production cost: Total variable cost – variable selling expense
(50,000 – 30,000) = 20,000
Unit VC: (20,000 / 20,000) + (30,000 / 12,000) = 3.5
Variable income = 12,000 (12 -3.5) – 100,000 = 2,000
7.

Variable costing: 7,000 [(22,500 / 7,500) + (30,000 / 7,500) + 2] = P63,000
Absorption costing: 7,000 [(22,500 / 7,500) + (30,000 / 7,500) + 2 + (40,000 /
8,000)] + 2,500* = P100,500
*Capacity (volume) variance: (NP – AP) FFOH / u = (8,000 – 7,500) 5 = 2,500 U
8.
Absorption Costing: (25 – 16) 16,000 – 64,000 = 80,000 + 8,000 F** - 12,000 UF
= P76,000
** Favorable: Actual production > Normal Production
9.

000 / P2.140.000.000 Net income P 650.000 Less: Loan payable 520. Answer: Sales (P4.200.000) + .080.5%) P6.500.000) – 21.000 / P2.000 20. of units 20.500.000] / (50.000 P650. 3 2 CM/hr. Answer: Rate of return on average total assets is net income divided by average total assets P650.25% 16.000.000 P650.000 Less: Income tax – 35% 350. Answer: D 17.500.000 x 162.000 Relevant cost that would be saved 85.000 = (18 – 8) X x = 3.5 times 15. [(34.000 / P2.000 Operating costs 1. Answer: P6.000 – 4.000 1.30(30.BALIUAG UNIVERSITY CPA REVIEW 2013-14 MANAGEMENT ADVISORY MANAGEMENT – FIRST PRE-BOARD JACF EXAM __________________________________________________________________________________________________ Answer: B Relevant Cost to Make Relevant Cost to Buy Purchase price P60 DM P 6 DL 30 VOH 12 Relevant FOH 9 P57 P60 X no.600.8) 4.080.000 1. Answer: Average total assets P2. P18 P16 Multiply by no.000 11. available 2.000 Net income before tax P1.000 = 25% 14.000 10.000) .500.500.000 – 20.30 Chk: Y = (15.000 = 60.600. Answer: C (16 .000.000 5. CM 36.000 = 10% 13.000) = .000 Less: Costs and Expenses: Materials and labor P4. of hrs.000 Max. Answer: A PM PR SP/u P50 P75 VC/u: DM 26 38 DL 10 18 FOH 8 11 CM/u P 6 P 8 Multiply by units produced / hr.000 / P6.000 +4.000 = 31.000 = 2.600.000 Stockholders’ equity P2.000 + Savings 25.200 units 12.