Quelpr

Standard Costing and Variance Analysis · CAPE Accounting Unit 2

39 past-paper questions on Standard Costing and Variance Analysis, part of Module 3: Planning and Decision Making, from every CAPE Accounting Unit 2 paper on Quelpr.

Practise Standard Costing and Variance Analysis
  1. 3(b)(i)5 marks· CAPE Accounting Unit 2 · 2002 · Paper 2Calculate the price and efficiency variances for materials used in the production of Westext.
  2. 3(b)(ii)5 marks· CAPE Accounting Unit 2 · 2002 · Paper 2Calculate the rate and efficiency variances for direct labour employed in the production of Westext.
  3. 3(b)(iii)5 marks· CAPE Accounting Unit 2 · 2002 · Paper 2Calculate the variable overhead spending and efficiency variance.
  4. 3(a)(i)4 marks· CAPE Accounting Unit 2 · 2004 · Paper 2Compute the price and efficiency variances for direct materials.
  5. 3(a)(ii)4 marks· CAPE Accounting Unit 2 · 2004 · Paper 2Compute the price and efficiency variances for direct labour.
  6. 3(a)(iii)4 marks· CAPE Accounting Unit 2 · 2004 · Paper 2Compute the variable overhead spending and efficiency variances.
  7. 3(a)(iv)4 marks· CAPE Accounting Unit 2 · 2004 · Paper 2Compute the fixed overhead spending and volume variances.
  8. 3(a)(ii)4 marks· CAPE Accounting Unit 2 · 2008 · Paper 2Distinguish between 'ideal' and 'practical standards'.
  9. 3(a)(iii)3 marks· CAPE Accounting Unit 2 · 2008 · Paper 2Identify the factors that should be considered in setting the standard cost for a product or service.
  10. 3(a)(i)7 marks· CAPE Accounting Unit 2 · 2009 · Paper 2Calculate the total standard cost of materials (including packaging) for a pair of bookends.
  11. 3(a)(ii)2 marks· CAPE Accounting Unit 2 · 2009 · Paper 2List two parties that would typically participate in the development of material standards.
  12. 3(a)(iii)1 mark· CAPE Accounting Unit 2 · 2009 · Paper 2For any one of the parties listed in (a)(ii), indicate their role in the development of material standards.
  13. 3(b)(i)5 marks· CAPE Accounting Unit 2 · 2009 · Paper 2Compute the price and efficiency variances of the materials used in the production of Right Lube.
  14. 3(b)(ii)2 marks· CAPE Accounting Unit 2 · 2009 · Paper 2Materials were purchased from a new supplier seeking a long-term purchase contract. Recommend whether the company should sign the contract, supporting your response with an appropriate explanation.
  15. 3(b)(iii)6 marks· CAPE Accounting Unit 2 · 2009 · Paper 2Compute the rate and efficiency variances for direct labour employed in the production of Right Lube.
  16. 3(b)(iv)2 marks· CAPE Accounting Unit 2 · 2009 · Paper 2During November, the labour mix was changed from 20 senior technicians and 15 assistants to 15 senior technicians and 20 assistants to save costs. Recommend whether this new labour mix should be continued, supporting…
  17. 3(e)(i)5 marks· CAPE Accounting Unit 2 · 2012 · Paper 2Explain the term 'variance' as used in standard costing.
  18. 3(e)(ii)4 marks· CAPE Accounting Unit 2 · 2012 · Paper 2List FOUR limitations of variance analysis.
  19. 3(d)(i)4 marks· CAPE Accounting Unit 2 · 2013 · Paper 2Compute the labour rate variance.
  20. 3(d)(ii)4 marks· CAPE Accounting Unit 2 · 2013 · Paper 2Compute the labour efficiency variance.
  21. 3(d)(iii)3 marks· CAPE Accounting Unit 2 · 2013 · Paper 2Compute the material price variance.
  22. 3(d)(iv)4 marks· CAPE Accounting Unit 2 · 2013 · Paper 2Compute the material quantity variance.
  23. 3(b)6 marks· CAPE Accounting Unit 2 · 2015 · Paper 2List SIX reasons why you would recommend the use of a standard costing system.
  24. 3(b)(i)2 marks· CAPE Accounting Unit 2 · 2017 · Paper 2Calculate the direct material price variance.
  25. 3(b)(ii)2 marks· CAPE Accounting Unit 2 · 2017 · Paper 2Calculate the direct material quantity variance.
  26. 3(b)(iii)2 marks· CAPE Accounting Unit 2 · 2017 · Paper 2Calculate the total direct material cost variance.
  27. 3(b)(iv)2 marks· CAPE Accounting Unit 2 · 2017 · Paper 2Calculate the direct labour rate variance.
  28. 3(b)(v)2 marks· CAPE Accounting Unit 2 · 2017 · Paper 2Calculate the direct labour efficiency variance.
  29. 3(b)(vi)2 marks· CAPE Accounting Unit 2 · 2017 · Paper 2Calculate the total direct labour cost variance.
  30. 3(c)(i)4 marks· CAPE Accounting Unit 2 · 2018 · Paper 2Explain the concept of 'standard costing'.
  31. 3(c)(ii)4 marks· CAPE Accounting Unit 2 · 2018 · Paper 2State TWO types of standard costing and explain ONE type.
  32. 3(b)(i)2 marks· CAPE Accounting Unit 2 · 2019 · Paper 2Calculate the direct material price variance.
  33. 3(b)(ii)2 marks· CAPE Accounting Unit 2 · 2019 · Paper 2Calculate the direct material quantity variance.
  34. 3(b)(iii)2 marks· CAPE Accounting Unit 2 · 2019 · Paper 2Calculate the direct labour rate variance.
  35. 3(b)(iv)2 marks· CAPE Accounting Unit 2 · 2019 · Paper 2Calculate the direct labour efficiency variance.
  36. 3(c)(i)3 marks· CAPE Accounting Unit 2 · 2019 · Paper 2Explain the term 'ideal standard'.
  37. 3(c)(ii)3 marks· CAPE Accounting Unit 2 · 2019 · Paper 2Explain the term 'practical standard'.
  38. 3(a)(i)2 marks· CAPE Accounting Unit 2 · 2021 · Paper 2Define the term 'standard costing'.
  39. 3(a)(ii)6 marks· CAPE Accounting Unit 2 · 2021 · Paper 2Outline the THREE steps in the process of establishing direct materials standards.

Related topics in Module 3: Planning and Decision Making