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Fundamentals of Management Accounting Questions 131–135 (page: 28)

Refer to the exhibit.



In an integrated cost and financial accounting system, the accounting entries for factory overhead absorbed would be:

Zelts Ltd earns a contribution of 20% of the selling price for product 'Y'. The annual fixed costs are £200,000.

In order to earn an annual profit of £100,000 the sales revenue needs to be:

CORRECT TEXT

LC produces a household detergent in a single process. Information for this process for last month is as follows:

(a) Materials input - 11,000 Litres at £2.00 per litre.

(b) Conversion costs - £23,000

(c) Output during the month - 8,000 litres.

(d) There were 2,000 units of closing work in progress which was complete as to materials and 35% complete as to conversion.

(e) Normal loss for the month was 5% of input and all losses have a scrap value of 50p per litre.

(f) There was no opening work in progress.

What was the value of the abnormal loss/gain during the month (to the nearest £)?

Refer to the exhibit.



X Enterprises runs a private nursing home for the elderly. The company are concerned that bed occupancy rates have been falling over the past 2 years with a consequential effect on profit. They have drawn up a budget for next year as follows:

The nursing home currently charges $90 per patient day.

Based on the budgeted figures and the current charge per day, what would be the break- even point in patient days?

The direct labour efficiency variance is: