TRIUMPH HIGHER INSTITUTE OF BIOMEDICALS, ENGINEERING,

EDUCATION AND MANAGEMENT SCIENCES

(THIOBEEMS)
“The Cornerstone For Emerging Technologies”
Aut. N°20-0814/LM/MINESUP/SG/DDS/ESUP/SDA/MM of 29/03/2020

Tel: (+237) 67613 6221, 679219396, 682778250

www.thiopextpolytechnic.com
FIRST SEMESTER CONTINUOUS ASSESSMENT 2022/2023 ACADEMIC
YEAR

COURSE NAME: MANAGERIAL ACCOUNTING

SPECIALTY/OPTION: ACCT level 3

NATURE OF PAPER: WRIITEN TYPE

DURATION: 1H 30M
COURSE MASTER: MR. AGBA NJI THOMAS
CANDIDATE’S
NAME:…………………………………………………………………………

EXAMINATION INSTRUCTION: Answer all questions

QUESTION 1

A product passes through three processes, process A, process B and process C to

completion. During the month of March, 2020, 1,000 units were produced and the
following was the expenses:
Process 1 process 2 process 3
Materials 2,000 3,000 2,000
Labour 5,000 4,000 3,000
Direct expenses 800 900 1,000
Indirect expenses amounted at all to 6,000. These are to be allocated on the basis
of direct wages. Raw materials worth 6,000 were issued to process 1.
WORK REQUIRED
prepare process cost accounts showing cost per article produced. 10marks
Question 2
The stock of material held on 1-4-2020 was 400 units for 50 per unit. The
following receipts and issues were recorded. You are required to prepare the Stores
Ledger Account, showing how the values of issues
2-4-2020 Purchased 100 units for 55 per unit
6-4-2020 Issued 300 units
10-4-2020 Purchased 600 units for 60 per unit
13-4-2020 Issued 400 units
20-4-2020 Purchased 500 units for 65 per unit.
25-4-2020 Issued 600 units
27-4-2020 purchase of 540 units at 60 per unit
WORK REQUIRED
1. Prepare the stock bin card using the FIFO method. 10 marks
2. Prepare the stock bin card using the weighted average method after each
entry. 10marks