Which one of the following is NOT one of the five stated fundamental principles of CIMA's code of ethics?
Answer(s): C
The accounting treatment for overheads over absorbed is to:
CORRECT TEXT A company operates a full cost system of pricing. Production overheads are absorbed using a pre-determined absorption rate of £3.50 per machine hour. The direct production cost of product A is £15 per unit and it utilises 6 machine hours per unit. The mark-up for non-production costs is 10% of total production cost. The company wants to make a 25% return on sales revenue for all products.The required selling price for Product A, to two decimal places, is:
Answer(s): A
CORRECT TEXT A product sells for £10 per unit and has an annual break-even volume of 50,000 units. The annual fixed costs are £100,000.The variable cost per unit is:Give your answer to 2 decimal places.
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@MaBlerh Commented on December 19, 2024 Good exam simulation questions Anonymous
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