Help me solve this question

35 Two products G and H are created from a joint process. G can be sold immediately after split-off. H requires further processing into product HH before it is in a saleable condition. There are no opening inventories and no work in progress of products G. H or HH. The following data are available for last period: $ Total joint production costs 350,000 Further processing costs of product H 66,000 Product Production Closing units inventory G 420,000 20,000 HH 330,000 30,000 Using the physical unit method for apportioning joint production costs, what was the cost value of the closing inventory of product HH for last period? $16,640 B $18.625 C $20,000 D $21,60031 Which of the following statements relating to management information are true? 1. It is produced for parties external to the organisation 2. There is usually a legal requirement for the information to be produced 3. No strict rules govern the way in which the information is presented 4. It may be presented in monetary or non monetary terms A 1 and 2 B 3 and 4 C 1 and 3 2 and 4 32 A company's sales in the last year in its three different markets were as follows $ Market 1 100,000 Market 2 149,000 Market 3 51,000 Total 300,000 In a pie chart representing the proportion of sales made by each region what would be the angle of the section representing Market 3? A 17 degrees 50 degrees 61 degrees 120 degrees 33 Which of the following BEST describes a flexible budget? A budget which shows variable production costs only A monthly budget which is changed to reflect the number of days in the month A budget which shows sales revenue and costs at different levels of activity A budget that is updated halfway through the year to incorporate the actual results for the first half of the year 34 The purchase price of an item of inventory is $25 per unit. In each three month period the usage of the item is 20,000 units. The annual holding costs associated with one unit equate to 6% of its purchase price. The cost of placing an order for the item is $20. What is the Economic Order Quantity (EOQ) for the inventory item to the nearest whole unit? 730 894 1,461 1,633.26 The following statements relate to the advantages that linear regression analysis has over the high low method in the analysis of cost behaviour: 1. the reliability of the analysis can be statistically tested 2. it takes into account all of the data 3 it assumes linear cost behaviour Which statements are true? 1 only 1 and 2 only 2 and 3 only 1, 2 and 3 27 A company operates a process in which no losses are incurred. The process account for last month, when there was no opening work-in-progress, was as follows: Process Account $ $ Costs arising 624,000 Finished output (10,000 units) 480,000 Closing work-in-progress (4,000 units) 144,000 624,000 624,000 The closing work in progress was complete to the same degree for all elements of cost. What was the percentage degree of completion of the closing work-in-progress? 12% 30% 40% 75% 28 Which of the following would not be expected to appear in an organisation's mission statement? A The organisation's values and beliefs The products or services offered by the organisation Quantified short term targets the organisation seeks to achieve The organisation's major stakeholders 29 An organisation operates a piecework system of remuneration, but also guarantees its employees 80% of a time-based rate of pay which is based on $20 per hour for an eight hour working day. Three minutes is the standard time allowed per unit of output. Piecework is paid at the rate of $18 per standard hour. If an employee produces 200 units in eight hours on a particular day, what is the employee's gross pay for that day A $128 $144 $160 $180 30 A company uses an overhead absorption rate of $3-50 per machine hour, based on 32,000 budgeted machine hours for the period. During the same period the actual total overhead expenditure amounted to $108,875 and 30,000 machine hours were recorded on actual production. By how much was the total overhead under or over absorbed for the period? A Under absorbed by $3,875 Under absorbed by $7,000 Over absorbed by $3,875 D Over absorbed by $7,00021 A company which operates a process costing system had work-in-progress at the start of last month of 300 units (valued at $1,710) which were 60% complete in respect of all costs. Last month a total of 2,000 units were completed and transferred to the finished goods warehouse. The cost per equivalent unit for costs arising last month was $10. The company uses the FIFO method of cost allocation. What was the total value of the 2,000 units transferred to the finished goods warehouse last month? $19,910 $20,000 $20,510 $21,710 22 A manufacturing company operates a standard absorption costing system. Last month 25,000 production hours were budgeted and the budgeted fixed production cost was $125,000. Last month the actual hours worked were 24,000 and standard hours for actual production were 27,000. What was the fixed production overhead capacity variance for last month? A $5,000 Adverse $5,000 Favourable $10,000 Adverse O $10,000 Favourable [P.T.O. 23 The following statements have been made about value analysis. (1) It seeks the lowest cost method of achieving a desired function 2) It always results in inferior products 3) It ignores esteem value Which is/are true ? 1 only 2 only 3 only 1 and 3 only 24 Under which of the following labour remuneration methods will direct labour cost always be a variable cost? Day rate Piece rate Differential piece rate Group bonus scheme 25 A company manufactures and sells a single product. In two consecutive months the following levels of production and sales (in units) occurred: Month 1 Month 2 Sales 3,800 4,400 Production 3,900 4,200 The opening inventory for Month 1 was 400 units. Profits or losses have been calculated for each month using both absorption and marginal costing principles. Which of the following combination of profits and losses for the two months is consistent with the above data? Absorption costing profit/(loss) Marginal costing profit/(loss) Month 1 Month 2 Month 1 Month 2 $ S $ $ 200 4,400 (400) 3,200 (400) 4,400 200 3,200 200 3,200 (400) 4,400 (400) 3,200 200 4,400