CAPE Accounting Unit 2 · 2004 · Paper 2

15 questions and parts from this paper. Open one to see it in full, then practise it on Quelpr and get it marked against the mark scheme.

1. 1(a)15 marksPrepare a schedule of cost of goods manufactured.
2. 1(b)5 marksPrepare the cost of goods sold section.
3. 1(c)15 marksPrepare an income statement showing the impact of closing the Bago Craft Jet Ski plant.
4. 2(a)(i)4 marksCompute the unit product cost under absorption costing and under variable/marginal costing.
5. 2(a)(ii)10 marksPrepare an income statement for the month using the variable/marginal costing method.
6. 2(a)(iii)10 marksPrepare an income statement for the month using the absorption costing method.
7. 2(b)11 marksWhat was the total cost of the stay of patient Fred Adams in the hospital?
8. 3(a)(i)4 marksCompute the price and efficiency variances for direct materials.
9. 3(a)(ii)4 marksCompute the price and efficiency variances for direct labour.
10. 3(a)(iii)4 marksCompute the variable overhead spending and efficiency variances.
11. 3(a)(iv)4 marksCompute the fixed overhead spending and volume variances.
12. 3(b)(i)8 marksPrepare a schedule of expected cash flows.
13. 3(b)(ii)6 marksCalculate the Net Present Value (NPV) of the closed-loop system.
14. 3(b)(iii)1 markState, with reason, whether the company should invest in the system.
15. 3(b)(iv)4 marksIdentify TWO non-financial factors that the company should consider in deciding whether to invest.