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business
management and cost accounting

Questions and Answers of Management And Cost Accounting

Intermediate: Payback, accounting rate of return and NPV calculations plus a discussion of qualitative factors The following information relates to three possible capital expenditure projects.
The management of a hotel group is deciding whether to scrap an old but still serviceable machine bought five years ago to produce fruit pies, and replace it with a newer type of machine.II is
You should attempt to answer this question yourself before looking up the suggested answer, which appears on pages 853- 4. If any part of your answer is incorrect, check back carefully to make sure
Intermediate: Budgeted profit and loss account and balance sheet plus a description of how overheads are allocated to products A company is preparing an outline budget for the year ahead based upon
Vanous attempts have been made in the public sector to achteve a more stable, long-term planning base tn contrast to the traditional short-term annual budgeting approach, wllh its emphasis
A company that has httherto prepared tis operating budgets on a single target level of performance is constdering changing to one of the following:(i) a three-level budget;(fi) a decisron tree
The managrng director of your company believes that the existing annual budget system is costly to operate and produces unsattsfactory results due to:long preparation period, business decisions being
(a) ... corporate planning and budgetmg are complementary, rather than the former superseding the latter.·Compare the aims and main features of 'corporate planning'and 'budgeting' systems. (12
Prepare brief notes about zero-base budgeting covering the following topics·(a) what zero-base budgettng means;(b) how zero-base budgeting would operate;(c) what problems mrght be met rn introduCing
You are the management accountant of a group of companies and your managing director has asked you to explore the possibilities of introducing a zero-base budgeting system experimentally in one of
Intermediate Outline:(a) the objectives of budgetary planning and control systems;{7 marks)(b) the organization required for the preparation of a master budget.
• explain the role of planning, programming budgeting systems in non-profit organizations.
Advanced : Selling price decision based on expected values and value of additi onal i nformation Warren Ltd is to produce a new product in a short-term venture which will utilize some obsolete
Advanced : Pricing dec ision based on competitor 's response In the market for one of its products, MD and its two major competitors (CN and KL) together account for 95% of total sales.The quality of
Ad vanced : Expected value comparison of low and high pri ce alternatives The research and development department of Shale White has produced specifications for two new products for consideration by
Advanced: Contracting hotel accomodation based on uncertain demand Crabbe, the owner of the Ocean Hotel, is concerned about the hotel's finances and has asked your advice. He gives you the following
Advanced: Machine hire decision based on uncertain demand and calculation of maximum price to pay for perfect information Siteraze Ltd is a company which engages in site clearance and site
Advanced: Pricing decision and the calculation of expected profit and margin of safety E Ltd manufactures a hedge-trimming device which has been sold at £16 per unit for a number of years. The
Advan ce d: CVP analysi s and uncertainty(a) The accountant of Laburnum Ltd is preparing documents for a forthcoming meeting of the budget committee. Currently.variable cost is 40% of selling price
Advanced: Preparation of pro ject statements for different demand levels and calculations of expected project Seepnnt Lim1ted IS negotiating an initial one year contract wnh an important customer for
Advanced : Expected value calculation and value of additional information For the past 20 years a chanty organisation has held an annual dinner and dance with the primary intention of raising
(a) XY Ltd is to quote for contract No. 1701 to supply 10 000 units of a certain product to a large group with branches throughout the country.It knows that the group will accept the lowest bid
You should attempt to answer this question yourself before looking up the suggested answer. which appears on pages 851-3. If any part of your answer is incorrect, check back carefully to make sure
A company must choose between one of two machines- machine A has low fixed costs and high unit variable costs whereas machine 8 has high fixed costs and low unit variable costs . Consequently,
XVZ Ltd is introducing a new product. The company has carried out some market research studies and analysed the selling prices of similar types of competitive products that are currently being
A manager is considering whether to make product A or product B, but only one can be produced .The estimated sales demand for each product is uncertain. A detailed investigation of the possible sales
Advanced: Computation of a tender price using costplus pricing and an evaluation of a contract using monthly discount rates You have been appomted by Ranek pic to advise on the price that the company
Advanced: Sensitivity analysis and alternative methods of adjusting for risk Parsifal Ltd is a private company whose ordinary shares are all held by its directors. The chairman has recently been
Advanced: Sensitivity analysis A company is considering investing in a new manufacturing facility with the following characteristics:A initial investment £350 000 - scrap value Nil;B expected life
Advanced: Calculation of the internal rate of return using the Interpolation method and a discussion of asset betas Amble pic is evaluating the manufacture of a new consumer product. The product can
Advanced: Timing of replacement decision XVZ pic uses 10 very old injection moulding machines, which are of a type which are no longer obtainable. It is proposed that they be replaced by 4 'new
Advanced: Net present value calculation for the replacement of a machine and a discussion of the conflict between ROI and NPV Eckard pic is a large, all-equity financed, divisionalized textile
Describe and discuss the important stages that should be followed when a company wishes to develop and implement a new programme of capital investment. Do not confine your discussion to the nature
In the context of capital budgeting, you are required to explain:(a) the meaning of 'beta'; (4 marks)(b) the function of 'beta' in the capital asset pricing model;(4 marks)(c) what one might do to
You have been appointed as chief management accountant of a well·established company with a brief to improve the quality of information supplied for management decision-making. As a first task you
A company wishes to use equipment that cost £1 million and that will have zero residual value at the end of five years. Management is satisfied that the equipment would represent an attractive
A company is considering whether to purchase some machinery that will cost £100 000 but that is expected to give rise to additional cash inflows of £50 000 per annum for four years. The cost of
A firm is choosing between two machines, X and Y. They are designed differently but have identical capacity and do exactly the same job. Machine X costs £120000 and will last three years,
• describe the procedures for reviewing and controlling capital investments.
• explain the uses and limitations of traditional risk measures;
• describe the two approaches for adjusting for inflation when appraising capital projects;
• explain capital rationing and select the optimum combination of investments when capital is rationed for a single period
Advanced: Calculation of target sales required to meet the objectures specified by the Management Board of a theatre A theatre with some surplus accommodation proposes to extent its catering
Advanced : Repla ce ment decision and the conflict between decision-m aking and perf orman ce evaluat ion mod els Paragon Products pic has a factory wh1ch manufacturers a wide range of plastic
Advanced: Evaluation of a proposed investment of computer integrated manufacturing equipment and a discussion of NPV and ARR Abert. the production manager of Blom pic, a manufacturer of precision
Advanced: Comparison of NPV and IRA and relationship between profits and NPV Khan Ltd is an importer of novelty products. The directors are considering whether to introduce a new product. expected to
Intermediate: Calculation of NPV 's of two projects In the manufacture of a company's range of products, the processes grve rise to two main types of waste material.Type A is the outcome of the
Advanced: Relevant cash flows and calculation of NPV A company occupies the following premises for its manufacturing, warehousing and office administration:Premises P consisting of 20 000 square
Intermediate: Calculation of NPV and payback(a) The management of the Primetaste Restaurant has been experiencing losses in the most recent months and is considering converting its operations to
A machine with a purchase price of £14 000 is estimated to eliminate manual operations costing £4000 per year. The machine will last five years and have no residual value at the end of its life.You
• discuss the factors to be considered when evaluating investments in advanced manufacturing technologies.
• describe the effect of performance measurement on capital investment decisions.
• explain the limitations of payback and the accounting rate of return methods;
• explain the opportunity cost of an investment;
Advanced: Calculation of expected value of perfect and Imperfect information Butterfield Ltd manufactures a single brand of dog-food called 'Lots 0' Grissle' (LOG). Sales have stabilized for several
A company is considering whether to develop and market a new product. Development costs are estimated to be £180000, and there is a 0.75 probability that the development effort will be successful
OM Ltd is reviewing its marketing policy for the next budget period . It has developed two new products, X and Y, but it only has sufficient resources to launch one of them . The appropriate states
Explain the limitations of traditional costing systems;
Adapting the obsolete materials for use as a substitute for a sub-assembly that is regularly used within the firm. Details of the extra work and materials required are as foJJows:1200 units of the
Intermediate: Make or buy decisions and limiting factors The management of Alliance Engineering & Manufacturing Company Limited produce a range of components and products.They are considering
Intermediate: Make or buy decision and limiting factors A company is preparing its production budget for the year ahead.Two of its processes are concerned with the manufacture of three components
Intermediate: Advice on continuing a project with sunk and opportunity costs(a) Identify the distinguishing characteristics of direct costs.(3 marks)(b) A research project, which to date has cost the
Intermediate: Deleting a segment and determining optimum output with a limiting factor(a) Next years forecasted trading results for Caribee Ltd, a small company manufacturing three different types of
Advanced: Comparison of ABC with traditional produ ct co stin g(a) In the context of activity based costing (ABC), it was stated in Management Accounting - Evolution not Revolution by Bromwich and
Intermediate: Key/limiting factors and the allocation of scarce capacity Domestic political trouble in the country of an overseas supplier is causing concern in your company because it is not known
Intermediate: Allocation of shop space based on key factors Z ltd is a rataller with a number of shops selling a variety of merchandise. The company is seeking to determtne the optimum allocation of
Intermediate: Decision whether to invest In an advertising campaign and on which product to buy in X Ltd manufacture and sells a range of sports equipment. The marketing director would like to
Intermediate: Acceptance of a contract(a) A small contractor has been asked to quote for a contract which is larger than he would normally consider. The contractor would like to obtain the job as he
Converting the obsolete materials into a specialized product, which would require the foJJowing additional work and materials:The conversion would produce 900 units of saleable product, and these
A company has received an enquiry from a customer for a special order that will require 1000 skilled labour hours and that will incur other variable costs of £1000. Skilled labour is currently in
A company owns a machine that was purchased three years ago for £18 000. Depreciation based on a useful life of six years with no salvage value has been recorded each year. The present written down
• Describe the four different categories of activities listed on pages 279-80;
• Explain the activity-based profitabil ity analysis approach;
You should attempt to answer this question yourself before looking up the suggested answer , which appears on pages 848-50. If any part of your answer is incorrect, check back carefully to make sure
Advanced : Comparison of tradit ional product cost ing with ABC Duo pic produces two products A and B. Each has two components specified as sequentially numbered parts i.e. product A (parts 1 and 2)
• Describe how the activity-based approach differs from the decision-relevant approach.
The Aylett Co. Ltd has been offered a contract that, if accepted, would significantly increase next year's activity levels. The contract requires the production of 20 000 kg of product X and
define relevant and irrelevant costs;
• describe the hierarchical segmental profitability analysis approach;
• explain how conflicts can arise between the decision model used by a manager and the performance model used to evaluate a manager.
A company is considering the alternatives of either purchasing a component from an outside supplier or producing the component itself. The estimated costs to the company of producing the component
National Ltd is a wholesaler who sells its products to a wide range of retailers. Marketing is done through three geographical areas: the South, the Midlands and the North. The estimates of the costs
A company produces a single product and has budgeted for the production of 100 000 units during the next quarter. The cost estimates for the quarter are as follows:The company has received orders for
A company is considering the alternatives of either purchasing a component from an outside supplier or producing the component itself. The estimated costs to the company of producing the component
Advanced: Optimum production schedule and limiting sectors Following a fire at the factory of Elgar Ltd, the management team met to review the proposed operations for the next quarter. The fire had
Advanced: Limiting factor resource allocation and comparison of marginal revenue to determine optimum output and price(a) A manufacturer has three products, A, B. and C. Currently sales, cost and
Advanced: Selection of optimal selling price based on demand and cost schedules Sniwe pic intend to launch a commemorative product for the 1992 Olympic games onto the UK market commencing 1 August
Advanced : Calculation of cost-plus price and minlumum short-run price plus a discussion of cost-plus and relevant cost pric ing Wright is a builder. His business will have spare capacity over the
Advanced: Calculation of unit costs and optimum selling price French Ltd is about to commence operations utilizing a simple production process to produce two products, X andY. It is the policy of
Advanced: Limiting factors and calculation of optimum selling price using differential calculus(a) Nantderyn Products has two main products, Exco and Wyeco, which have unit costs of £12 and £24
Advanced: Calculation of optimal output level adopting a limiting factor approach and the computation of optimum selling prices using differential calculus AB p.l.c. makes two products, Alpha and
Advanced: Calculation of optimum quantity and prices for Joint products using differential calculus plus a discussion of joint cost allocations Nuts pic produces alpha and beta in two stages. The
Advanced: Calculation of optimum selling prices using differential calculus Cassidy Computers pic sells one of its products, a plug-in card for personal computer systems. in both the UK and
You should attempt to answer this question yourself before looking up the suggested answer, which appears on pages 8S0-51 . If any part of your answer is incorrect, check back carefully to make sure
Advanced: Optimal production programme, shadow prices and relevant costs for pricing decisions Rosehip has spare capacity in two of its manufacturing departments- Department 4 and Department 5. A
Advanced: Allocation of land to four different types of vegetables based on key factor principles A South American farms 960 hectares of land on which he grows squash, kale, lettuce and beans. Of the
Advanced: Key factor and make or buy decision A construction company has accepted a contract to lay underground pipework. The contract requires that 2500 m of 1 0"pipe and 2000 m of 18" pipe be laid
Advanced: Allocation of scarce capacity A company manufactures four products, A. B. C and D, which are marketed in tubs. Of its total of 25 machines, ten are suitable for manufacturing all four
Advanced: Relevant costs for a pricing decision A company had nearly completed a specialized piece of capital equipment when it discovered that its customer had gone out of business. After searches,
Advanced : Deleting a segment The original budget for the K department of Hilton Ltd for the forthcoming year was as follows Budgeted sales and production - 30 000 unitsAs part of Hilton's long-term

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