1、ACCA 考试 F5 业绩管理真题 2015 年 6 月及答案解析(总分：100.00，做题时间：180 分钟)一、Section A ALL 20 q(总题数：20，分数：40.00)1.A division is considering investing in capital equipment costing $27m. The useful economic life of the equipment isexpected to be 50 years, with no resale value at the end of the period. The forecast retur
2、n on the initial investmentis 15% per annum before depreciation. The divisions cost of capital is 7%. What is the expected annual residual income of the initial investment?（分数：2.00）A.$0B.($270,000)C.$162,000D.$216,0002.The Fruit Company (F Co) currently grows fruit which customers pick themselves fr
3、om the fields before paying. F Cois concerned that a large number of customers are eating some of the fruit whilst picking it and are therefore not paying for all of it. As a result, it has to decide whether to hire staff to pick and package the fruit instead. The following values and costs have bee
4、n identified: (i)The total sales value of the fruit currently picked and paid for by customers (ii)The cost of growing the fruit (iii)The cost of hiring staff to pick and package the fruit (iv) The total sales value of the fruit if it is picked and packaged by staff instead Which of the above are re
5、levant to the decision?（分数：2.00）A.All of the aboveB.(ii), (iii) and (iv) onlyC.(i), (ii) and (iv) onlyD.(i), (iii) and (iv) only3.Which of the following statements describes target costing?（分数：2.00）A.It calculates the expected cost of a product and then adds a margin to it to arrive at the target se
6、lling priceB.It allocates overhead costs to products by collecting the costs into pools and sharing them out according to each products usage of the cost driving activityC.It identifies the market price of a product and then subtracts a desired profit margin to arrive at the target costD.It identifi
7、es different markets for a product and then sells that same product at different prices in each market4.The Mobile Sandwich Co prepares sandwiches which it delivers and sells to employees at local businesses each day.Demand varies between 325 and 400 sandwiches each day. As the day progresses, the p
8、rice of the sandwiches isreduced and, at the end of the day, any sandwiches not sold are thrown away. The company has prepared a regrettable to show the amount of profit which would be foregone each day at each supply level, given the varying dailylevels of demand. （分数：2.00）A.325B.350C.375D.4005.The
9、 following statements have been made about transaction processing systems and executive information systems: (i)A transaction processing system collects and records the transactions of an organisation (ii)An executive information system is a way of integrating the data from all operations within the
10、 organisation into a single system Which of the above statements is/are true?（分数：2.00）A.(i) onlyB.(ii) onlyC.Both (i) and (ii)D.Neither (i) nor (ii)6.The following information is available for a manufacturing company which produces multiple products: (i)The product mix ratio (ii)Contribution to sale
11、s ratio for each product (iii)General fixed costs (iv) Method of apportioning general fixed costs Which of the above are required in order to calculate the break-even sales revenue for the company?（分数：2.00）A.All of the aboveB.(i), (ii) and (iii) onlyC.(i), (iii) and (iv) onlyD.(ii) and (iii) only7.W
12、hich of the following is an external source of information?（分数：2.00）A.Value of sales, analysed for each customerB.Value of purchases, analysed for each supplierC.Prices of similar products, analysed for each competitor companyD.Hours worked, analysed for each employee8.C Co uses material B, which ha
13、s a current market price of $080 per kg. In a linear program, where the objective is to maximise profit, the shadow price of material B is $2 per kg. The following statements have been made: (i)Contribution will be increased by $2 for each additional kg of material B purchased at the current market
14、price (ii)The maximum price which should be paid for an additional kg of material B is $2 (iii)Contribution will be increased by $120 for each additional kg of material B purchased at the current market price (iv)The maximum price which should be paid for an additional kg of material B is $280 Which
15、 of the above statements is/are correct?（分数：2.00）A.(ii) onlyB.(ii) and (iii)C.(i) onlyD.(i) and (iv)9. X Co uses a throughput accounting system. Details of product A, per unit, are as follows: Selling price $320 Material costs $80 Conversion costs $60 Time on bottleneck resource 6 minutes What is th
16、e return per hour for product A? （分数：2.00）A.$40B.$2,400C.$30D.$1,80010.The following ratios have been calculated for a company: Gross profit margin 42% Operating profit margin 28% Gearing (debt/equity) 40% Asset turnover 65% What is the return on capital employed for the company?（分数：2.00）A.273%B.182
17、%C.112%D.168%11. A company manufactures three products using different amounts of the same grade of labour, which is in short supply. The following budgeted data relates to the products: （分数：2.00）A.2nd 1st 3rdB.2nd 3rd 1stC.1st 3rd 2ndD.1st 2nd 3rd12.The following statements have been made about lif
18、e cycle costing: (i)It focuses on the short-term by identifying costs at the beginning of a products life cycle (ii)It identifies all costs which arise in relation to the product each year and then calculates the products profitability on an annual basis (iii)It accumulates a products costs over its
19、 whole life time and works out the overall profitability of a product (iv)It allocates costs to each stage of a products life cycle and writes them off at the end of each stage Which of the above statements is/are correct?（分数：2.00）A.(i) and (iii)B.(iii) onlyC.(i) and (iv)D.(ii) only13.A companys sal
20、es and cost of sales figures have remained unchanged for the last two years. The following information has been noted: （分数：2.00）A.(i) onlyB.(ii) onlyC.Both (i) and (ii)D.Neither (i) nor (ii)14.Caf Co budgeted to sell 10,000 units of a new product in the period at a budgeted selling price of $5 per u
21、nit. Actual sales volumes in the period were as budgeted but the actual sales price achieved was only $4 per unit. This was because a competitor launched a similar product at the same time. Caf Co had been unaware that this was going tohappen when it prepared its budget and, had it known this, it wo
22、uld have revised its expected selling price to $380per unit, which was the price of the competitors product. What is the sales price planning variance?（分数：2.00）A.$12,000 AB.$12,000 FC.$2,000 FD.$2,000 A15.The following budgeted data for a particular period was available for a company selling two pro
23、ducts: （分数：2.00）A.$3,720 FB.$3,720 AC.$4,320 FD.$4,320 A16.A company predicted that the learning rate for production of a new product would be 80%. The actual learning rate was 75%. The following possible reasons were stated for this: (i)The number of new employees recruited was lower than expected
24、(ii)Unexpected problems were encountered with production (iii)Unexpected changes to Health and Safety laws meant that the company had to increase the number of breaks during production for employees Which of the above reasons could have caused the difference between the expected rate of learning and
25、 theactual rate of learning?（分数：2.00）A.All of the aboveB.(ii) and (iii) onlyC.(i) onlyD.None of the above17.When activity-based costing is used for environmental accounting, which statement is correct for environment-related costs and environment-driven costs?（分数：2.00）A.Environment-related costs can
26、 be attributed to joint cost centres and environment-driven costs cannot beB.Environment-driven costs can be attributed to joint cost centres and environment-related costs cannot beC.Both environment-related costs and environment-driven costs can be attributed to joint cost centresD.Neither environm
27、ent-related costs nor environment-driven costs can be attributed to joint cost centres18.The following statements have been made about the materials mix variance for a company manufacturing different products using the same type of material (measured in kgs): (i) The mix variance can be calculated b
28、y taking the difference between the actual quantity in the standard mix andthe actual quantity in the actual mix, then multiplying it by the actual cost per kg (ii)The mix variance arises because there is a difference between what the input should have been for the output achieved and the actual out
29、put Which of the above statements is/are correct?（分数：2.00）A.Neither (i) nor (ii)B.Both (i) and (ii)C.(i) onlyD.(ii) only19.At the start of the year, a division has non-current assets of $4 million and makes no additions or disposals during the year. Depreciation is charged at a rate of 10% per annum
30、 on all non-current assets held at the end of the year.Working capital is $05 million at the start of the year although this is expected to increase by 20% by the end of theyear. The budgeted profit of the division after depreciation is $12m. What is the expected ROI of the division for the year, ba
31、sed on average capital employed?（分数：2.00）A.27.59%B.26.37%C.18.39%D.31.58%20.The following statements have been made in relation to the concepts outlined in throughput accounting: (i)Inventory levels should be kept to a minimum (ii)All machines within a factory should be 100% efficient, with no idle
32、time Which of the above statements is/are correct?（分数：2.00）A.(i) onlyB.(ii) onlyC.Both (i) and (ii)D.Neither (i) nor (ii)二、Section B ALL FIVE (总题数：5，分数：60.00)1.Beckley Hill (BH) is a private hospital carrying out two types of procedures on patients. Each type of procedure incurs the following direct
33、 costs: BH currently calculates the overhead cost per procedure by taking the total overhead cost and simply dividing it bythe number of procedures, then rounding the cost to the nearest 2 decimal places. Using this method, the total costis $2,47585 for Procedure A and $4,73585 for Procedure B. Rece
34、ntly, another local hospital has implemented activity-based costing (ABC). This has led the finance director at BHto consider whether this alternative costing technique would bring any benefits to BH. He has obtained an analysisof BHs total overheads for the last year and some additional data, all o
35、f which is shown below: （分数：10.00）(1).(a)Calculate the full cost per procedure using activity-based costing. (6 marks)（分数：5.00）_(2).(b)Making reference to your findings in part (a), advise the finance director as to whether activity-based costing should be implemented at BH.(4 marks)（分数：5.00）_21.2.M
36、obe Co manufactures electronic mobility scooters. The company is split into two divisions: the scooter division(Division S) and the motor division (Division M). Division M supplies electronic motors to both Division S and toexternal customers. The two divisions run as autonomously as possible, subje
37、ct to the groups current policy thatDivision M must make internal sales first before selling outside the group; and that Division S must always buy itsmotors from Division M. However, this company policy, together with the transfer price which Division M chargesDivision S, is currently under review.
38、 Details of the two divisions are given below. Division S Division Ss budget for the coming year shows that 35,000 electronic motors will be needed. An external supplier could supply these to Division S for $800 each. Division M Division M has the capacity to produce a total of 60,000 electronic mot
39、ors per year. Details of Division Ms budget,which has just been prepared for the forthcoming year, are as follows: Budgeted sales volume (units) 60,000 Selling price per unit for external sales of motors $850 Variable costs per unit for external sales of motors $770 The variable cost per unit for mo
40、tors sold to Division S is $30 per unit lower due to cost savings on distribution and packaging. Maximum external demand for the motors is 30,000 units per year. Required: Assuming that the groups current policy could be changed, advise, using suitable calculations, the number ofmotors which Divisio
41、n M should supply to Division S in order to maximise group profits. Recommend the transferprice or prices at which these internal sales should take place. Note: All relevant workings must be shown. (10 marks)（分数：10.00）_3.Bokco is a manufacturing company. It has a small permanent workforce but it is
42、also reliant on temporary workers,whom it hires on three-month contracts whenever production requirements increase. All buying of materials is the responsibility of the companys purchasing department and the companys policy is to hold low levels of raw materialsin order to minimise inventory holding
43、 costs. Bokco uses cost plus pricing to set the selling prices for its products oncean initial cost card has been drawn up. Prices are then reviewed on a quarterly basis. Detailed variance reports areproduced each month for sales, material costs and labour costs. Departmental managers are then paid
44、a monthlybonus depending on the performance of their department. One month ago, Bokco began production of a new product. The standard cost card for one unit was drawn up toinclude a cost of $84 for labour, based on seven hours of labour at $12 per hour. Actual output of the product duringthe first m
45、onth of production was 460 units and the actual time taken to manufacture the product totalled 1,860hours at a total cost of $26,040. After being presented with some initial variance calculations, the production manager has realised that the standardtime per unit of seven hours was the time taken to
46、 produce the first unit and that a learning rate of 90% should havebeen anticipated for the first 1,000 units of production. He has consequently been criticised by other departmentalmanagers who have said that, He has no idea of all the problems this has caused. Required:（分数：10.00）(1).(a)Calculate t
47、he labour efficiency planning variance and the labour efficiency operational variance AFTER taking account of the learning effect. Note: The learning index for a 90% learning curve is 01520 (5 marks)（分数：5.00）_(2).(b)Discuss the likely consequences arising from the production managers failure to take
48、 into account the learning effect before production commenced.(5 marks)（分数：5.00）_4.ALG Co is launching a new, innovative product onto the market and is trying to decide on the right launch price forthe product. The products expected life is three years. Given the high level of costs which have been incurred in developing the product, ALG Co wants to ensure that it sets its price at the right level and has therefore
