Managerial Accounting and Finance

SCHOOL OF FINANCE AND ACCOUNTING

ACCESS FOR SUCCESS IN ACCOUNTING

MAY 2023

MANAGERIAL ACCOUNTING AND FINANCE

TEST 1

REQUIRED

Access for Success in Accounting 1

Managerial Accounting and Finance

REQUIRED

No. Required: Question 1

Marks
1.1 For the Components Division: prepare the actual Statement of 24
Comprehensive Income for the financial year ended 31 December 2022
based on absorption costing principles. Clearly indicate any over or under
recovery in as much detail as possible.

If you are unable to calculate the actual production units for 2022, assume a
figure of 5 500 units.

[Round all units to the nearest whole number.]

[Round all costs to the nearest cent.]
Communication - format
1
1.2 Prepare an email to the managing director explaining the difference between 4
direct (variable) and absorption costing and explaining when these costing
methods are used for reporting purposes.

[Calculations are not required.]

Communication - format
1

Question 1 Total 30

Required: Question 2
Marks
For the Inverter Division: calculate the budgeted breakeven revenue per inverter 20
type and in total for the financial year ended 2023.

[Round to the nearest cent and whole unit and, if appropriate, round percentages
to two decimal places.]

Question 2 Total 20

Grand Total 50

END OF PAPER

Access for Success in Accounting 2