Part - A True or False and Multiple Choice Questions: SLO: 1, 2 & 3 (7x1=7 Marks) Question No:1 True or False Questions: Answer all (Write in box True or False") 1. Cost-Benefit and behavioral considerations is the system must provide accurate, timely budgets and performance reports in a form useful to managers. ) ) 2. A budget is a qualitative expression of a plan of action that imposes the formal structure of an organization. 3. The relevant range is the limit of cost-driver activity level within which a specific relationship between costs and the cost driver is valid. ( ) 4. Engineering analysis entails a systematic review of materials, supplies, labor, support services, and facilities needed for products and services. ( ) Question No: 2 Multiple Choice Questions: Answer All (Circle correct answer) 5. The company fixed expenses $100,000 and P/V ratio 25%. What is Break Even Sales? a. $400,000 b. $600,000 c. $800,000 d. none of the above 6. The company sales $100,000, Variable cost $50,000, what is Profit Volume Ratio of the company? a. 30% b. 50% c. 25% d. none of the above 7. The company fixed cost is $ 150; variable cost per unit is $10. Ifx = $10 per unit then what is mixed Cost? (Apply formula Y=a+bx) a) $150 b) $200 c) $250. d) all of the above. Part-B Question No:3 Numerical Problems: Note: Answer the following questions: (3 x11=33 Marks) Problem: 1 SLO:2 From the following particulars: Sales Variable Cost Fixed Cost $ 120,000 $ 60,000 $ 60,000 Calculate: 1. Contribution 2. Profit Volume(P/V)Ratio 3. Break Even Point in $ sales 4. Margin of Safety 5. Profit when sales are $500,000 Problem: 2 SLO:2 The following information has been taken from the accounting records of Ahmed and Company in first and second period. Period 2019 2020 Sales $ 200,000 300,000 Profit $30,000 50,000 Calculate: 1) Profit volume ratio 2) Variable cost for two periods 3) Fixed cost for two periods 4) Break Even Point in dollars sales 5) Sales required to earn a profitof$50,000 6) Profit when sales are $300,000 Problem : 3 SLO:3 a) The following data show the results of random sample of 10 batches ofone pattern of product: Sample 2 3 4 5 6 7 8 9 10 Batch Size X 10 12 15 20 10 25 20 12 18 30 Support Costs Y $100 120 200 150 200 250 150 120 240 300 Calculate: Using regression analysis (Y=a+bx) and predict support cost for a batch size X = $10 then what is Mixed Cost? b) The following data show the results ofrandom sample of 10 batches ofone pattern of product: Sample Batch Size Support Costs Y 1 10 S10 2 12 15 3 15 20 4 20 22 5 10 15 6 25 25 7 20 30 8 12 10 9 15 20 10 30 30 Calculate: Using High and Low method and predict Variable cost and fixed cost ofthe above information
