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bài tập kế toán bằng tiếng anh ở chương trình chất lượng cao, bài tập giúp sinh viên thực hành và hiểu rõ hơn các tình huống mà kiến thức lý thuyết truyền đạt. ngoài ra, bài tập còn là tài liệu giúp sinh viên trau dồi và rèn luyện thêm kỹ năng tính toán
MID-TERM EXAM ACADEMY OF December 2021 POLICY AND DEVELOPMENT International School of Economics and Finance Management Accounting Duration: 120 minutes TEST CODE: 05 Instructions Please read the instruction carefully before you start There are questions in this paper Each question carries different marks and full marks can be obtained for complete answers to all the questions There are 10 marks available on this paper A hand-held calculator may be used when answering questions on this paper but it must not be pre-programmed or able to display graphics text of algebraic equations Other materials are not allowed in the examination Cheating is forbidden and will result in the mark of ZERO Note: This is closed-book exam Question 1: (3.5 points) Rosebloom produces premium cookies and uses process costing There are three processing departments: Mixing, Baking and Packaging In the Packaging Department, direct materials are added at the beginning of the process Conversion costs are added evenly throughout each process The weighted-average method of process costing is used Data from May for the Packaging Department are as follows: Packaging Department Units: Beginning work in process: 70 batches Transferred in from the Baking Dept during May: 650 batches Completed and transferred out during the period: 630 batches Ending work in process (80% complete as to conversion work): 90 batches Beginning work in process $4,725 Costs: (transferred in cost, $3,430; direct material cost, 770; conversion costs, $525) Transferred in from the Baking Dept during May $31,850 Materials cost added during May $7,150 Conversion costs added during May $10,005 Requirements Prepare a timeline for Packaging Department (0.5 point) Prepare a production cost report for the Packaging Department in May (3.0 points) Question 2: (3.5 points) Vincent Jardine, a CPA, has a consulting firm in the state of New York that offers optimal tax solutions Vincent Jardine’s systems consultants provide direct labor at a rate of $180 Note: This is closed-book exam per hour Clients are billed at 120% of direct labor cost Last month, Vincent Jardine's consultants spent 135 hours on Nurix Inc Vincent Jardine decides to develop an ABC system to allocate his firm’s indirect costs He estimates indirect costs for this year amount to $182,000 and the company is expected to work 7,000 direct labor hours during the year He identifies three activities related to the total indirect costs - documentation preparation, travel and information technology (IT) support He figures that documentation costs are driven by the number of pages, travel costs are driven by the number of miles travelled, and IT support costs are driven by the number of direct labor hours worked Estimates of the costs and quantities of the allocation bases follow: Activity Allocation base Documentation preparation Travel IT Support Total Pages Miles travelled Direct labor hours Estimated costs $ 42,000 105,000 35,000 $182,000 Estimated quantity of allocation base 5,000 pages 35,000 miles 7,000 DLH The Nurix job used the following resources last month: Cost Driver Direct labor hours Pages Miles travelled Nurix 135 320 450 Requirements Compute the cost allocation rate for each activity point) (1.0 Compute the cost assigned to the Nurix job, using the ABC system point) (1.0 Compute the operating income from the Nurix job, using the ABC system (0.5 point) Assuming that Vincent Jardine uses traditional costing method to allocate indirect cost (based on direct labor hours), calculate the operating income from the Nurix job Comment on the results obtained (1.0 point) Note: This is closed-book exam Question 3: (3.0 points) Timex Company is a hand watch manufacturer Timex sells a quatz watch for $69 per unit Variable costs are $45 per unit, and fixed costs are $96,000 per year Requirements Use the contribution margin approach to compute the number of units Timex must sell each year to break even (0.5 point) Use the contribution margin ratio CVP formula to compute the dollar sales Timex needs to earn $88,800 in operating income for 2019 (0.5 point) Graph Timex’s CVP relationships Show the breakeven point, the sales revenue line, the fixed cost line, the total cost line, the operating loss area, the operating income area, and the sales in units and dollars when operating income of $88,800 is earned (1.0 point) Timex is considering a quality improvement program that will increase the variable costs by 20% and the fixed costs by $12,000 Selling price will now be $75 per unit Compute the required sales in dollars in order to have double operating income (1.0 point) END - Note: This is closed-book exam