vA ‘TAUGNG O41 HOC CONG NGHIEP TP. HO cHl MINH NUH KHOA KE TOAM KEM TOAN HE THONG HOC TAP TRU'C TUYEN & Nguyén Thi Minh Huyén ~ Nha ciia t6i > Cac khod hoc cila tdi > KE TOAN QUAN TR! 2 (HK1 / 2022-2023) > BAI KIEM TRA- QUIZ ONLINE > Exam 2 Bat dau vao lic Tuesday, 15 November 2022, 8:48 PM State Finished Két thiic lic Tuesday, 15 November 2022, 9:03 PM Thoi gian thyc hign 14 phut 41 giay Bigm_ 20,00/20,00 10,00 out of 10,00 (100%) Cau Hoi 1 bung Dat diém 1,00 trén 1,00 Which of the following are Not considered to be objectives of budgeting? (1) Authorisation (2) Expansion (3) Performance evaluation (4) Resource allocation Select one: a, (1), 2) and (3) only b.Q) only ©. @)only d. (1), 2) and (4) onlyCau Hoi 2 Dung Dat diém 1,00 trén 1,00 A retailing company makes a gross profit of 28% on sales. The company plans to increase inventory by 10% in March. The budgeted sales revenue for March is £50,000. Opening inventory on 1 March is valued at £6,000. What are the budgeted inventory purchases for March? Select one: a, £56,600 b. £50,600 ©. £36,600 d. £49,400 Cau Hai 3 Bing Bat dim 1,00 tran 1,00 The following data have been extracted from the budget working papers of ABC Ltd Production volume 2,000 3,000 Efunit E/unit Variable material 5.00 5.00 Variable labor 4.50 450 Production overhead- department 1 8.00 6.00 Production overhead - department 2 3.00 2.00 The total fixed cost and variable cost per unit is Select one: 2. Total fixed cost 46,000 Variable cost per unit 9.50 b. Total fixed cost 18,000 ;Variable cost per unit 11.50. Total fixed cost 18,000 ;Variable cost per unit 2.00 4d. Total fixed cost 46,000 ;Variable cost per unit 11.50Cau Hoi 4 Dung Dat diém 1,00 trén 1,00 ‘A company’s master budget contains the following budgeted income statement. £ £ Sales revenue (5,000 units) 200,000 Variable materials cost Variable labor cost Variable overhead Fixed overhead Budgeted net profit 500, The companys management are considering a change in the materials specification. This would reduce the materials cost per unit by 10%. The reduced product quality would necessitate a 2% reduction in the selling price and the sales volume would fall by 5%. The revised budgeted net profit for the period would be Select one: a. £35,925 b. £32,920 c. £53,025 d. £34,920 Cau Hi 5S Bung Dat diém 1,00 trén 1,00 Which of the following expressions is correct? Select one: a, Production (in units) = Opening inventory + sales + closing inventory b. Production (in units) = Closing inventory - sales - opening inventory , Production (in units) = Opening inventory + sales ~ closing inventory d. Production (in units) = Closing inventory + sales - opening inventory /Cau Hoi 6 Dung Dat diém 1,00 trén 1,00 You are given the following budgeted cost information for Queen plc for January. Sales £300,000 Unit selling price £5 Gross profit 30% margin sales Opening inventory 6,000 units Sales volumes are increasing at 20% per month and company policy is to maintain 10% of next month's sales volume as closing inventory. The budgeted cost of production for January is Select one: a, £300,000 b. £306,000 £210,000 4. £214,200. Cau Hoi 7 Dung Dat diém 1,00 trén 1,00 ‘ABC company makes a gross profit of 20% on sales. The company plans to increase inventory by 20% in June. The budgeted sales revenue for June is £30,000. Opening inventory on 1 June is valued at £5,000. What are the budgeted inventory purchases for June? Select one: a, £23,000 b. £25,000. £25,500 d. £29,000Cau Hoi 8 Dung Dat diém 1,00 trén 1,00 Budgeted sales of X December are 20,000 units. At the end of the production process for X, 10% of production units are scrapped as defective. Opening inventories of X for December are budgeted to be 21,000 units and closing inventories will be 10,000 units. All inventories of finished goods must have successfully passed the quality control check. The production budget for X fox December, in units, is Select one: a, 31,900 b. 31,000 ¢.9,900 d. 10,000. Cau Hoi 9 Bung Dat diém 1,00 trén 1,00 ‘An extract from next year's budget for a manufacturing company is shown below. Month 5 Month 6 Closing inventory of raw materials £25,000 £45,000 ‘The manufacturing cost of production is £462,000 in both Month 5 and Month 6. Materials, costs represent 60% of manufacturing cost. The budgeted material purchases for Month 6 are Select one: a, £277,200 b. £297,200. c. £322,200 d. £257,200Cau Hoi 10 Dung Dat diém 1,00 trén 1,00 A company has recorded the following costs over the last six months Month Cost Production Units £ h 25,200 11,200 b 28,400 11,400 B [24,180 11,150 bs [22,600 11,020 5 18,200 800 lb [20,700 990 Using the high - low method, the expected cost of producing 1,390 units is Select one: a, £28,230. b. £28,197 ©. £26,700 . £31,622 cau Héi 11 Bing at adm 1,00 sén 1,00 Which THREE of the following statements relating to budgets are NOT correct? Select one or more: 2. A budget covers periods longer than one year and is used for strategic planning b. The budget committee is responsible for the preparation of functional budgets c. The budget committee coordinates the preparation and administration of budgets d. A budget is usually prepared by the shareholders of a company / €. A budget manual will contain instructions governing the preparation of budgets.Cau Hoi 12 Dung Dat diém 1,00 trén 1,00 A company is preparing its production budget for product A for the forthcoming year. Budgeted sales of product A are 2,000 units. Opening inventory is 150 units and the company wants to reduce inventories at the end of the year by 10%, The budgeted number of units of product A to be produced is Select one: a. 2,135 b. 2,000 ©. 1,985. 4.2,015 Cau Hei 13 Ding Bat digm 1,00 tran 1,00 ‘At the beginning of March 20X2, a company has an opening balance of £80,000 on its receivables ledger. Sales of £200,000 have been budgeted for March and it is budgeted that 60% of these will be settled in March after a cash discount of 2.5%. If 30% of the opening receivables are still outstanding at the end of March, what will be the budgeted receivables figure at that date? Select one: a. £108,200 b. £110,200 £106,000 d. £104,000.Cau Hoi 14 Dung Dat diém 1,00 trén 1,00 ‘A company’s weekly costs (£ C) were plotted against production level (P) for the last 50 weeks and regression line calculated to be C = 500 + 100 P. Which of the following statements about the breakdown of weekly costs is true? Select one: a, Fixed costs are £10. Variable costs per unit are £2. b. Fixed costs are £100. Variable costs per unit are £500. «. Fixed costs are £500. Variable costs per unit are £100. / d. Fixed costs are £100. Variable costs per unit are £2. Cau Héi 15 Bing Dat diém 1,00 trén 1,00 ‘A company is preparing its production budget for product B for the forthcoming year. Budgeted sales of product B are 2,000 units. Opening inventory is 160 units and the company wants to raise inventories at the end of the year by 20%. The budgeted number of units of product A to be produced is Select one: a. 2,160, . 2,000 , 2,032 v .2,192Cau Hoi 16 Dung Dat diém 1,00 trén 1,00 George has been asked by his bank to produce a budgeted income statement for the six months ending on 31 March 20X4, He forecasts that monthly sales will be £5,000 for October, £6,500 for each of November and December and £6,000 per month from January 20X4 onwards. Selling price is fixed to generate a margin on sales of 33 1, %. Overhead expenses (excluding depreciation) are estimated at £900 per month. He plans to purchase non - current assets on 1 October costing £10,000, which will be paid for at the end of December and are expected to have a five - year life, at the end of which they will possess a nil residual value. The budgeted net profit for the six months ending 31 March 20X4 is Select one: 2, £8,200 b. £5,400 ©. £5,600 ¥ d. £6,600Cau Hoi 17 Dung Dat diém 1,00 trén 1,00 You are given the following budgeted cost information for King plc for January. Sales £400,000 Unit selling price £8 Gross profit 30% margin sales Opening inventory 5,000 units Sales volumes are increasing at 20% per month and company policy is to maintain 10% of next month's sales volume as closing inventory. The budgeted cost of production for January is Select one: 2, £285,600 b. £408,000 £280,000 4d. £400,000Cau Hoi 18 Dung Dat diém 1,00 trén 1,00 Mango Ltd purchases a chemical and refines it before onward sale, Budgeted sales of the refines chemical are as follows. Litres January 60,000 February 30,000 March 40,000 (1) The target month - end inventory of unrefined chemical is 20% of the chemical needed for the following month's budget production. (2) The targeted month - end inventory of refined chemical is 40% of next month's budgeted sales. Calculate the budgeted purchase of unrefined chemical for January. Select one: 2. 48,250 liters b, 49,750 liters ©. 45,200 liters «/ . 54,200 litersCau Hi 19 Dung Dat diém 1,00 trén 1,00 A retailing company makes a gross profit of 35% on sales. The company plans to decrease inventory by 20% in April. The budgeted sales revenue for April is £60,000. Opening inventory on 1 April is valued at £4,000. What are the budgeted inventory purchases for April? Select one: a, £39,800 b. £59,200 £60,800 . £38,200. Cau Hei 20 Ding Bat digm 1,00 wrén 1,00 When preparing a material purchases budget, which of the following is the quality to be purchased? Select one: a. Opening inventory of materials - materials required for production - closing inventory of materials b. Materials required for production - opening inventory of materials + closing inventory of materials, v ¢. Opening inventory of materials + closing inventory of materials - materials required for production d. Materials required of production - opening inventory of materials ~ closing inventory of materials 4 Exam1 Chuyén téi.. v Exam 3 >