1.

Thefol
lowi
ngda
tar
ela
tet
otheove
rhe
ade
xpe
ndi
tur
eofac
ont
rac
tcl
eane
rsa
ttwoa
cti
vit
9
le
vels
.
S
quar
emet
rec
leaned 12750 15100

Ov
erheads
(NGN) NGN73950 NGN83585

Whatisthees
ti
mat
eoft
heove
rhe
adsi
f16,
200s
qua
reme
tre
sar
etobec
lea
ned?
A.N66,420
B.N88,095
C.N89,674
D.NN93,960

ANSB

2.Apr oducti
onworke
rispai
das a
lar
yofN650pe rmont
h,pl
usa
next
raSkobof
ore
achuni
t
produc
e dduri
ngthemont
h.Thi
sla
bourcos
tisbe
stdes
cri
bedas
:
A.Ava ri
ablecost
B.Af i
xe dcost
C.As t
epc ost
D.As emi -
vari
abl
ecos
t

ANSD

3.Whattypeofc osti
ssup
ervi
sors
ala
ryc
ost
s,whe
reones
upe
rvi
sori
sfore
ver
yte
nempl
oye
es
adde
dtothes ta
ff?
A.fi
xedcos t
B.Avariablecost
C.Ami xedc os
t
D.As t
epc ost

ANSD

4.Acosti
sde scri
bedassta
yingt
hesameoverace
rta
inacti
vit
yra
ngea ndt
henincr
eas
ingbut
re
mai
ningstableoverare
vis
edact
ivi
tyr
angei
nthes
hortt
erm.Whattypeofc
osti
sthi
s?
A.Af
ixedcost
B.Avari
ablecost
C.As
emi-varia
blecost
D.As
teppedfixedcost

ANSD

5.Asacti
vit
yvolumeincre
ase
s,c
ost
stha
tte
ndt
ode
cre
asea
re:
A.fi
xedcostsperuni
t
B.var
iabl
ecostsperuni
t
C.t
ota
lfi
xedcost
s
D.t
ota
lvar
iabl
ecost
s

ANSD

6.
Theequati
onforac os
tfunct
ioni
sy=N185+N50x
A.thes
lopecoef
fic
ientisN185
B.t
heinter
cepti
sN185
C.t
heslopecoef
fi
cientisx
D.thei
nter
cepti
sN50

ANSB
7.Theequat
ionforacos
tfunc
ti
oni
sy=N800+N20x.Whe
nthei
nde
pende
ntva
ria
blei
s15,t
he
depende
ntvari
ablei
s:
A.N815
B.N500
C.N12,020x
D.someotheramount

ANSD

8.Thee quat
ionforac os
tfunc
ti
oni
sy=N20+N5x.I
fthede
pende
ntva
ria
blei
sN30,t
he
inde
pendentvari
abl
eis:
A. 2
B. 170
C. 2, 500
D. s omeot hernumber

ANSA

9.A n i
xedc osthasaf i
xed-
cos
te l
ementofN8,000.I
fthet
ota
lcos
tisN14,
000a
ndt
he
inde
pendentvari
abl
eis500,t
hesl
opecoe
ffi
ci
enti
s:
A. N28
B. Nl 6
C. N12
D. s omeot hera
mount

ANSC

10.Thesl
opecoeffi
ci
entis
:
A.theamountofincr
eas
einyf
ore
achuni
tofdec
reas
einx
B.theamountofdecr
easei
nxf
orea
chuni
tofinc
reas
einy
C.theamountofdecr
easei
nxf
orea
chuni
tofdecr
easei
ny
D.noneoftheabove
ANSA
11.EComa nuf a
c t
uresasingleproduct
,P.Dat
afort
hepr
oduc
tar
easf
oll
ows
.
perunit
Sell
ingpr ice N20
Directma terialcost 4
Directlabourc os t 3
Va r
iablePr oduc t
ionove r
he a
dc ost- 2
Va r
iables e
llingove rheadcost 1
Fixedove rhea dc ost 5
Profi
tpe runi t 5
Thepr ofit/vo lumer ati
oforpr oduc
tPis
A25%
B50%
C55%
D60%

ANSB
12.Ac ompany’sbrea keve
npoi ntis6 ,
000unit
sperannum.Thesel
li
ngpri
ceisN90pe
runitand
thevari
ablecos
tisN40pe runi
t.Wh atar
ethecompany’sa
nnualf
ixedcos
ts?
A.N120
B.N240, 000
C.N300, 000
D.N540, 000
ANSC
13.ZComa ke
sas ingleproductwh i
chitsel
lsforNl6perunit
.Fixedcos
tsar
eN76,800per
montha ndthepr oduc thasapr ofit
/vol
umer at
ioof40%.I nape r
iodwhenact
uals
aleswere
N224,000,Zplc’sma rginofsafety,i
nuni t
s,was:
A.2,000
B.12,000
C.14,000
D.32,000

ANSA

14.Ac ompanysel
lsas i
ngleproductwhich.hasacontri
but
ionN27peruni
tandacont
ribut
ion
tosa
lesrat
ioof45%.Thisperi
odi ti
sforec
a s
ttosel
l1,000unit
sgi
vingi
tamargi
nofsaf
etyofN
13,
500ins a
lesr
evenueter
ms .
Whatarethecompany’st
otalf
ixedcostsperperi
od?
A. N6, 075
B. N7, 425
C. N13, 500
D. N20, 925
ANSD
15.Ac ompanymanufa
cture
sasi
ngleproductwhic
hitsell
sforN20pe
runi
t.Thepr
oductha
sa
contri
but
iontos
ale
srat
ioof40%.Thecompa ny’
swe e
klybreak-
eve
npoi
nti
ssale
sre
venueofN
18,000.
Wha twouldbet
heprof
itinawee
kwhe n1,200unit
saresol
d?
A. N1, 200
B. N2, 400
C. N3, 600
D. N6, 000

ANSB

16.Edwa r
dpr oduc
esas i
ngl
eproduct
.Forthef or
thc
omi
ngpe
riod,t
hebudge
tcont
ai
nst
he
followinginf
ormati
on:
N
Re venue 500,000
Fixe dover
heads 70,000
Cont ri
buti
on 100,000
Wha ti
sthema r
ginofs
afe
lyinpe
rcent
aget
erms?
A.6%
B14%
C.20%
D.30%

ANSD
17.Thefol l
owi nginfor
ma t
ionre l
atestoacompanyma
kingt
el
evi
si
on:
N
Budget
eds ale
sr e
ve nue 1,300,000
Budget
edp rofi
t 130,000
Budget
edc ontri
buti
on 520,000
Wha ti
sthebu dget
eds al
esrevenuet obrea
keve
n?
A.N325, 000
B.N500, 000
C.N910, 000
D.N170, 000

ANSD

18.Aproje
ctcos
tsN500,000toini
ti
at
e.Atacostofcapi
ta
lof10%,whatmini
muma
nnua
lne
t
cas
hinf
lowisneededf
ortheproj
ectt
obrea
k-e
ven,ass
umingaperpe
tua
lli
fe?
A.100,
000
B.50,
000
C.10,
000
D.moreinf
ormat
ionnee
de d.
ANSB

19.Theinternalr a
teofret
urnis:
A.thetot
a lprofitonaninvest
me ntdi
vide
dbytheli
feoft
hei
nve
stme
nti
nye
ars
.
B.thema ximumr ateofi
nter
estexpect
edtobeea
rnedonani
nve
stme
nt
C.themini mumde sir
edra
teofre t
urn
D.noneoft hea bove

ANSD
20.Aproje
ctc
ost
ingN100,
000toini
ti
at
eatthebegi
nni
ngofyear1.I
tpr
omisest
oge
ner
atene
t
cashi
nfl
owofN25,000f
romthebe
ginni
ngofyear4Whati
sthepayba
ckper
iod?
A.4years
B.7years
C.6years
D.5years

ANSB

21.Whic
hoft hef
oll
owingsta
teme ntsbestdesc
r i
bestheIRRofa
ninve
stme
ntpr
oje
ct?
A.Theonlyfi
nanci
aldeci
si
on-ma kingtool.
B.Thedis
countrat
etobeusedf orapprai
salpurposes
C.Thedis
countrat
eatwhichallproposedprojectswil
lhavet
hesa
meNPV.
D.Thedis
countrat
eatwhichthepr oj
ectNPVi sz er
o.
E.Thedi
scountra
teatwhichallproposedproje
c twil
lhaveaNPVofzer
o

ANDD

22.Whatisana t
tai
nables
tandar
d?
A.As tandardwhichincl
udesnoa ll
owa nceforlos
ses,wa s
teandi ne
ffic
ienci
es.Itre
pres
ent
sthe
leve
lofpe r
formancewhichisat
tainableunderperf
ectoperat
ingconditi
ons.
B.As tandar
dwhi chincl
udessomea l
lowanceforlosses
,wa st
ea ndineff
ici
encie
s .I
tre
pres
ents
thele
velofpe r
formancewhichisatt
a i
nableunderper
f e
ctoperat
ingconditi
ons,
C.As ta
ndardwhi chisba
sedonc urr
e ntl
ya t
tai
nabl
eo pera
ti
ngc ondit
ions.
D.As ta
nda r
dwhi chiske
ptunchange d,toshowthetrendincosts.

ANSD

23.
Thee st
imate
dcos
twhi
choughtt
obei
ncur
redi
s
A.Standar
dc os
t
B.Budgetedcost
C.Imputedcost
D.Indir
ectcost
E.Cont
rol
la
blec
ost
ANSA

24.
Whi choft hefoll
owingbudge
tsi
sus
ual
lypr
epa
redf
oral
ongpe
riodoft
ime
?
A.ProductionBudge t
B.Ma t
erialPurchaseBudget
C.Ma st
erBudge t
D.CapitalExpe ndi
tur
eBud ge
t
E.CashBudge t

ANSD
25.
Af lexibl
ebudge ttake
sintoaccount
A.Fixedc ost
sonl y
B.Semi -fi
xedc ost
sonly
C.Va r
iablecos t
sonly
D.Semi -var
iablecostonly
E.Fi
xe d,vari
a bleandsemi-va
ria
blecost
s

ANSE

26.
Fort
hepurposeofproof
,ma
ter
ialcostvar
ianceisequa
lto
A.Mater
ialPr
iceVari
ance+Mate
rialYieldVari
ance
B.Mater
ialYi
eldVari
ance+Mater
ialMi xVaria
nce
C.Mater
ialMixVari
ance+Mater
ialUsageVa ri
ance
D.Mater
ialPr
iceVari
ance+Mate
rialUsageVa r
iance
E.Mate
ria
lUsageVa r
ianc
e+Ma t
erialYiel
dVa r
iance

ANSD
27.
Ma rgi
nofs a
f e
tyis
A.Ac t
uals al
esmi nussalesa
tBr e
ak-
EvenPoint
B.Salesmi nusCont r
ibuti
on
C.Salesmi nusFixedc ost
D.Fixedc ostplusVa r
iabl
eCos t
E.Sale
sa tBr ea
ke venPointminusVar
iabl
ecost
ANSA

28.
P/VRati
owil
lincre
aseif
A.Ther
eisani
ncrea
seinfixedc os
t
B.Ther
eisadec
reas
einfixedc ost
C.Ther
eisadec
reas
einva ri
ablecostperunit
D.Ther
eisadec
reaseinsel
li
ngpr i
c eperunit
E.Ther
eisani
ncre
aseinvariablecostperuni
t

29. Anor gani s

ati
onc urr
entl
yproduc
esonepr
oduc
twhi
chi
tse
ll
sforN130pe
runi
t.Thec
ost
peruni
toft
hepr oductisasfol
lows
:
N
Dire
ctma t
eri
als 22
Dire
ctl
a bour 15
Dire
ctexpe nses 3
 Va
ria
bleover
heads 10
Va
ria
blecos
tperunit 50

Tot
alf
ixedcos
tsforthepe
riodi
sN1,
600,
000.
Howma nyuni
tswillbepr
oduce
dandsol
dtogene
rat
eapr
ofi
tofN250,
000?

A. 20,
000uni
ts
B. 20,
555uni
ts
C. 21,
252uni
ts
D. 23,
125uni
ts
E. 26,
428uni
ts

ANSD

30. Whi choft hefoll

owingi
sNOTa
ppl
ic
abl
etoMa
rgi
nalCos
ti
ngPr
inc
ipl
es?
A.Pri
c i
ngdeci
sion
B.Ma keorbuyde cis
ion
C.Ownorl eas
ede c
ision
D.Asc e
rta
inmentofj obcost
E.Supplyi
ngore xportorde
r

ANSD
31. Det
erminet
hePr
ofi
t/
Vol
umeRa
ti
owhe
re:
N
Fi
xedcost 2,
000
Pr
ofi
t 400
Sa
les 6,
000

A.20%
B.25%
C.40%
D.50%
E.60%

ANSC
32. Thei nst
rume ntus edforpl
anni
ngandcont
rol
li
ngt
hes
our
cesa
ndus
esofc
asht
oens
ure
thea
vail
abil
ityofca s
ha tati
mewhe ni
tisne
ededi
s
A.Recei
pts&Pa yme ntsBudget
B.CashBudge t
C.Sal
esBudge t
D.Administ
rati
veCos tBudget
E.Capi
talExpenditureBudge t

ANSB
33. Fl exibleBudge ti
ngisame thodofbudge t
ingwhe r
e
A.Thebudge tpe r
iodi snotfi
xed
B.Actualp erf
or ma nceisworkedtot hebudge t
C.Ma na
ge rsa r
ea llowe dtooper
atewi t
houtst
ringentcondi
ti
ons
D.Budge tisde velopedf ordi
ff
erenta ndalt
ernati
vep r
oducti
onl
eve
ls
E.Revis
ionsa r
epe rmit
tedonamont hlybasi
s
ANSD

34. Thet ypeofva r

iancethatres
ult
sfr
om ma
chi
nebr
eakdown,powe
rout
age
sandwor
k
st
oppagesis
A.Electr
icit
ywa stagevari
ance
B.Idl
et i
meva r
iance
C.Directlaboureff
icie
ncyva r
iance
D.Ma chinebreakdownva ri
ance
E.Materialwa s
tagevari
ance

ANSB

35. Det
ermi
nema
ter
ialc
ostva
ria
nc efromthef
oll
owinginf
orma
ti
on
Standar
d Actual
Out
put 100units 200unit
s

Quant
it
yofmat
eri
al
r
equir
edpe
runi
tofout
put 2kgpe
runi
t 3kgpe
runi
t

Pr
icepe
rkg N4 N3

A. N200(
Favour
abl
e)
B. N200(
Advers
e)
C. N300(
Advers
e)
D. N300(
Favour
abl
e)
E. N320(
Advers
e)
ANS.B

36.
Whi chofthefollowi
ngisNOTa mongt hema i
nfeat
ure
sofsta
nda
rdc
ost
ing?
A.Standar
dc osti
sapr e
-de
terminedc os
t
B.Iti
sba s
edonf uturee
xpecta
ti
on
C.Itr
e l
ate
stoapr oduct
,se
rvice,pr
oce s
sora nopera
ti
on
D.Itma ybeexpressedi
ntermsofqua nti
tyonly
E.I
tisde t
erminedforanormallevelofeffi
cienc
yofoperat
ion

ANSD
Uset
hei
nfor
mat
ionbe
lowt
oans
werque
sti
ons37a
nd38

Thes
tanda
rddi
rec
tla
bourc
ostofpr
oduc
tMYEi
sasf
oll
ows
:

6hoursatN5pe rhour=N30perunit
Actualpr
oduct
ionwa s1,
000uni
tsandthedi
rec
tla
bourc
ostwa
sN35,
750f
or5,
500
hoursofwork.

37. Whatisdi
rec
tla
bourr
ateva
ria
nce
?
A.N8,
150A
B.N8,
250A
C.N7,
800F
D.N9,
850F
E.N6,
750A
ANSB

38. De t
ermi
nedi
rec
tla
boure
ffi
ci
enc
yva
ria
nce
.
A.N2,
500F
B.N3,
750A
C.N4,
150F
D.N2,
650A
E.N3,
000F
ANSA

39. Gi venthatthesta
ndar
dc os
tformat
eri
alcons
umpt
ionis400kgatN100perkg,wha
tis
thema
ter
ialus
a gevari
ancewhenact
ualma
ter
ialc
onsumpt
ioni
s480kgatN150perkg?

A.N5000(F)
B.N7,
000(A)
C.N7,
000(F)
D.N8,000(
A)
E.N8,
000(F)

ANSD

40. Wha
twi
llbet
heBr
eak-
eve
npoi
nti
nuni
tswhe
re

Tot
alfi
xedcos
t=N24,
000
Sel
li
ngpri
ce= N24pe runi
t
Var
iabl
ecost= N18pe
runit

A.2,
000uni
ts
B.3,
000uni
ts
C.4,
000uni
ts
D.5,
000uni
ts
E.6,
000uni
ts

ANSC
41. Ba
sics
tanda
rdsa
re

A.Standa
rdst
hatar
esetf
orus eoverashortperi
odt h
atrefl
ectcur
rentc
ondit
ions
B.Standar
dst
hataree
stabli
shedforuseove ralongperiodforwhichacurrents
tanda
rdc
anbe
deve
loped
C.Standa
rdst
hatca
nbea tt
ai
ne dunde
rthemos tfavoura
bleworkingcondi
ti
ons
D.Standa
rdst
hatca
nbea chi
e vedi
fastandardunitofworkiscarr
iedoutef
fi
c i
ent
ly
E.Sta
ndardst
hata
rebasi
call
ys etf
orgeneralgui
dance

ANSB

42. Whi
choft
hes
eisNOTa
nas
sumpt
ionofbr
eak-e
vena
nal
ysi
s?
A.Ther
eisnos ynchronizat
ionbetwee
nproducti
onandsale
s
B.Sel
li
ngpricedoesnotc hangeasvolumechanges
C.Fi
xedcostremainc onst
ant
D.Vari
abl
ec ost
sva r
ypr oport
ionat
el
ywi t
hvolume
E.Cost
scanber es
olve dint
ofixedandvari
abl
ec ompone
nts

ANSA

43. Us ethefoll
owinginfor
ma t
iontoanswerquest
ions43and44.
Aunitofproduc
tQi sproducedusing10kgofma te
rialatN10perkg.Dur
ingpe
riod4,10,
000
uni
tsofQwe remanuf
a c
ture
dus i
ng117,000kgma t
eri
alswhic
hc os
tN986,
000
9.Whati
sthema t
eri
alpric
evaria
nc e?
A.N180,
000F
B.N174,
000A
C.N184,
000F
D.N192,
000F
E.N169,
000A

44.Ca
lcul
at
ema
ter
ialus
ageva
ria
nce
.

A.N170,
000F
B.N169,
000A
C.N170,
000A
D.N150,
000F
E.N117,
000A

45. Ba sics
tandar
dca
nbedefi
nedas
A.Standa
rdwhi c
hisest
abl
is
hedtouseove
ras
hor
tpe
riodoft
imea
ndi
sre
lat
edt
ocur
rent
condi
ti
ons.

B.Thes
tanda
rdwhi
chi
sant
ic
ipa
tedc
anbea
tt
ai
neddur
ingaf
utur
espe
cif
iedbudge
tpe
riod.

C.Thes t
andar
dwhi
chi
sat
ta
ine
dove
raf
utur
epe
rio
doft
ime
,pr
efe
rabl
ylonge
nought
ocove
r
onet
radecyc
le.

D.St
anda
rdwhi
chc
anbea
tt
ai
nedun
dermos
tfa
vour
abl
econdi
ti
onpos
sibl
e.

E.As t
andar
dwhichi
ses
tabl
is
hedf
orus
euna
lt
ere
dfora
ninde
fini
tepe
riodwhi
chma
ybea
l
ongpe
riodoft
ime
.

46. ……………. .isadocumentwhi

chpr
ovi
desf
ort
hea
sse
mbl
yoft
hede
tai
le
dst
anda
rd
cos
tofauni torbat
chofpr
oduct
.
A.Cos tsheet
s
B.Costing
C.Sta
nda rdcosts
heet
D.Ma stercard
E.Re
cei
pt

47. Thepoi ntatwhic

htot
alc
ont
ri
but
ioni
sequa
ltot
ota
lfi
xedc
osti
sknowna
s
A.Grossprof
itpoint
B.Br
e a
k-evenpoint
C.Netprof
itpoint
D.Ma r
ginofsafet
y
E.Ta
rgetprofi
t

48. Thema rginofs afetyi nva luei sexpe

cte
dtobe
A.Sale
slesspr ofita tbrea k-e venpoi nt
B.Sal
eslessc osta tbr eak-e ve npoint
C.Costle
ssc osta tbr eak-e ve npoint
D.Sale
slesss alesa tbrea k-e ve npoint
E.Profi
tlesspr ofita tbrea k-e venpoi nt

49. Thef unctionofabudge tcommi tt

eeincl
udeth
efol
lowi
ngEXCEPT
A.Esta
blis
hme ntofbudgetproceduresandti
metabl
e
B.Ins
tal
lat
ionofpr oducti
onc apacit
yforthebusi
nes
s
C.Revis
iona nda ccept
anceofincludedbudget
s
D.Co-ordi
nationofbus i
nessforecast
E.Revie
wofpe r
formancereport

Thef
oll
owi
ngi
nfor
mat
ions
houl
dbeus
edt
oans
werque
sti
on51,
52,
53.

Ac ompanyma kesasingleproductwi
thasa
lespr
iceofN1,
000a
ndama
rgi
nalc
ostofN650.
Fixedcosti
sN685,300perannum.
51. Ca lc
ulat
enumbe rofunit
stoBre
ak-
even
A.1, 950unit
s
B.1, 955unit
s
C.1, 958unit
s
D.1, 985unit
s
E.1, 988unit
s

52. Ca l
cul
at
ethenumbe
rofuni
tst
obes
oldt
oac
hie
veapr
ofi
tofN294,
000
A. 2,
072uni
ts
B. 2,
670uni
ts
C. 2,
672uni
ts
D. 2,
673uni
ts
E. 2,
872uni
ts

53. Wha tist

he ma
rgi
n ofs
afe
tya
ssume t
hec
ompa
ny’
sbudge
teds
ale
sre
venue i
s
N2,
350,
150?

A.N392,
155
B.N392,
510
C.N392,
015
D.N392,
501
E.N392,
150
ANSE

54. Ac ompanybudget
stosel
l55,000uni
tsofit
sproduc
tatN40perunitf
oravari
ablecost
ofN15.Ifthef
ixedcostf
ortheper
iodisexpect
edtobeN340,000,t
henthecont
ri
but
ion/s
ale
s
rat
ioi
s?
A.60.5
B.61.5
C.62.5
D.63.5
E 64.5

ANSC

Us
ethef
oll
owi
ngda
tat
oans
werque
sti
on55a
nd56.

Br
eak-
evenp
oint = 6,
000uni
ts
Fi
xedcos
t = N6,
000
Sa
les = 9,
000uni
tsatN9/
uni
t

55. Theva
ria
blec
ostpe
runi
tis
A.N8.
00
B.N7.
50
C.N6.
25
D.N5.
50
E.N5.
00
ANSA

56. Whati
sthet
ota
lpr
ofi
t?
A.N1,
500
B.N1,
875
C.N3,
000
D.N3,
500
E.N4,
150
ANSC