[公告]攒人品，帮大家解答CMA、ACCA、CFA、CGA考题

ChinaCarol

以下是引用slashgirl在2008-10-20 23:38:00的发言：

The balance sheets of Wilcox Corporation at the beginning and end of the year contained the following data:
Beginning of Year
End of Year
Property, Plant, and Equipment (at cost)
$400,000
$550,000
Accumulated Depreciation
180,000
160,000
Property, Plant, and Equipment (net)
$220,000
$390,000
During the year, Wilcox Corporation sold machinery and equipment at a gain of $4,000. It purchased new machinery and equipment at a cost of $230,000. Depreciation charges on machinery and equipment for the year amounted to $50,000. Calculate the proceeds Wilcox Corporation received from the sale of the machinery and equipment.

the answer is:14000.

can you tell me why?

Answer:

($400,000+$230,000-$550,000)-($180,000+$50,000-$160,000)+$4,000=$14,000

jiniandehulv

紧急求助,非常感谢

Lee Manufacturing uses a standard cost system with overhead applied based on direct
labor hours. The manufacturing budget for the production of 5,000 units for the month of
May included the following information.
Direct labor (10,000 hours at $15 per hour) $150,000
Variable overhead 30,000
Fixed overhead 80,000

During May, 6,000 units were produced and the direct labor efficiency variance was
$1,500 unfavorable. Based on this information, the actual number of direct labor hours
used in May was

a.
9,900 hours.
b.
10,100 hours.
c.
11,900 hours.
d.
12,100 hours.

答案

238.
At the beginning of the year, Douglas Company prepared the following monthly budget
for direct materials.
Units produced and sold 10,000
15,000

Direct material
$15,000 $22,500

At the end of the month, the company's records showed that 12,000 units were produced
and sold and $20,000 was spent for direct materials. The variance for direct materials is

a.
$2,000 favorable.
b.
$2,000 unfavorable.
c.
$5,000 favorable.
d.
$5,000 unfavorable.

答案:b

243.
Lee manufacturing uses a standard cost system with overhead applied based on direct
labor hours. The manufacturing budget for the production of 5,000 units for the month of
June included 10,000 hours of direct labor at $15 per hour, $150,000. During June, 4,500
units were produced, using 9,600 direct labor hours, incurring $39,360 of variable
overhead, and showing a variable overhead efficiency variance of $2,400 unfavorable.
The standard variable overhead rate per direct labor hour was
a.
$3.85.
b.
$4.00.
c.
$4.10.
d.
$6.00.

答案:b

247.
The JoyT Company manufactures Maxi Dolls for sale in toy stores. In planning for this
year, JoyT estimated variable factory overhead of $600,000 and fixed factory overhead of
$400,000. JoyT uses a standard costing system, and factory overhead is allocated to units
produced on the basis of standard direct labor hours. The denominator level of activity
budgeted for this year was 10,000 direct labor hours, and JoyT used 10,300 actual direct
labor hours.

Based on the output accomplished during this year, 9,900 standard direct labor hours
should have been used. Actual variable factory overhead was $596,000, and actual fixed
factory overhead was $410,000 for the year. Based on this information, the variable
overhead spending variance for JoyT for this year was

a.
$24,000 unfavorable.
b.
$2,000 unfavorable.
c.
$4,000 favorable.
d.
$22,000 favorable.

答案

jiniandehulv

2more:

69.
Tip-Top Cleaning Supply carries a large number of different items in its inventory, giving
the firm a competitive advantage in its industry. Below is part of Tip-Top’s budget for
the first quarter of next year.
Sales $855,000
Cost of goods sold 425,000
Rent and salary expenses 375,000  

Historically, all of the sales are on account and are made evenly over the quarter. 5% of
all sales are determined to be uncollectible and written off. The balance of the
receivables is collected in 50 days. This sales and collection experience is expected to
continue in the first quarter. The projected balance sheet for the first day of the quarter
includes the following account balances.

Cash $ 10,000
Accounts receivable (net) 450,000
Inventory 900,000
Accounts payable 800,000

How much cash can Tip-Top anticipate collecting in the first quarter (based on a 360-day
year)?

a.
$811,000.
b.
$830,000.
c.
$901,250.
d.
$902,500.

answenA

70.
Monroe Products is preparing a cash forecast based on the following information.
.
Monthly sales: December $200,000; January $200,000; February $350,000;
March $400,000.
.
All sales are on credit and collected the month following the sale.
.
Purchases are 60% of next month’s sales and are paid for in the month of
purchase.
.
Other monthly expenses are $25,000, including $5,000 of depreciation.
If the January beginning cash balance is $30,000, and Monroe is required to maintain a
minimum cash balance of $10,000, how much short-term borrowing will be required at
the end of February?

a.
$60,000.
b.
$70,000.
c.
$75,000.
d.
$80,000.

answer:B

vivian8188

谢谢CAROL。

解释的很清楚。谢谢。

ChinaCarol

以下是引用jiniandehulv在2008-10-26 17:39:00的发言：

紧急求助,非常感谢

Lee Manufacturing uses a standard cost system with overhead applied based on direct
labor hours. The manufacturing budget for the production of 5,000 units for the month of
May included the following information.
Direct labor (10,000 hours at $15 per hour) $150,000
Variable overhead 30,000
Fixed overhead 80,000

During May, 6,000 units were produced and the direct labor efficiency variance was
$1,500 unfavorable. Based on this information, the actual number of direct labor hours
used in May was

a.
9,900 hours.
b.
10,100 hours.
c.
11,900 hours.
d.
12,100 hours.

答案

238.
At the beginning of the year, Douglas Company prepared the following monthly budget
for direct materials.
Units produced and sold 10,000
15,000

Direct material
$15,000 $22,500

At the end of the month, the company's records showed that 12,000 units were produced
and sold and $20,000 was spent for direct materials. The variance for direct materials is

a.
$2,000 favorable.
b.
$2,000 unfavorable.
c.
$5,000 favorable.
d.
$5,000 unfavorable.

答案:b

243.
Lee manufacturing uses a standard cost system with overhead applied based on direct
labor hours. The manufacturing budget for the production of 5,000 units for the month of
June included 10,000 hours of direct labor at $15 per hour, $150,000. During June, 4,500
units were produced, using 9,600 direct labor hours, incurring $39,360 of variable
overhead, and showing a variable overhead efficiency variance of $2,400 unfavorable.
The standard variable overhead rate per direct labor hour was
a.
$3.85.
b.
$4.00.
c.
$4.10.
d.
$6.00.

答案:b

247.
The JoyT Company manufactures Maxi Dolls for sale in toy stores. In planning for this
year, JoyT estimated variable factory overhead of $600,000 and fixed factory overhead of
$400,000. JoyT uses a standard costing system, and factory overhead is allocated to units
produced on the basis of standard direct labor hours. The denominator level of activity
budgeted for this year was 10,000 direct labor hours, and JoyT used 10,300 actual direct
labor hours.

Based on the output accomplished during this year, 9,900 standard direct labor hours
should have been used. Actual variable factory overhead was $596,000, and actual fixed
factory overhead was $410,000 for the year. Based on this information, the variable
overhead spending variance for JoyT for this year was

a.
$24,000 unfavorable.
b.
$2,000 unfavorable.
c.
$4,000 favorable.
d.
$22,000 favorable.

答案

Answer1:
$1,500/15+10,000/5,000*6,000=12,100

Answer2:
$15,000/10,000*12,000-$20,000=-2,000

Answer3:
$2,400/(9,600-10,000/5,000*4,500)=$4.00

Answer4:
10,300*($600,000/10,000-$596,000/10,300)=$22,000

ChinaCarol

以下是引用jiniandehulv在2008-10-26 19:33:00的发言：

2more:

69.
Tip-Top Cleaning Supply carries a large number of different items in its inventory, giving
the firm a competitive advantage in its industry. Below is part of Tip-Top’s budget for
the first quarter of next year.
Sales $855,000
Cost of goods sold 425,000
Rent and salary expenses 375,000  

Historically, all of the sales are on account and are made evenly over the quarter. 5% of
all sales are determined to be uncollectible and written off. The balance of the
receivables is collected in 50 days. This sales and collection experience is expected to
continue in the first quarter. The projected balance sheet for the first day of the quarter
includes the following account balances.

Cash $ 10,000
Accounts receivable (net) 450,000
Inventory 900,000
Accounts payable 800,000

How much cash can Tip-Top anticipate collecting in the first quarter (based on a 360-day
year)?

a.
$811,000.
b.
$830,000.
c.
$901,250.
d.
$902,500.

answenA

70.
Monroe Products is preparing a cash forecast based on the following information.
.
Monthly sales: December $200,000; January $200,000; February $350,000;
March $400,000.
.
All sales are on credit and collected the month following the sale.
.
Purchases are 60% of next month’s sales and are paid for in the month of
purchase.
.
Other monthly expenses are $25,000, including $5,000 of depreciation.
If the January beginning cash balance is $30,000, and Monroe is required to maintain a
minimum cash balance of $10,000, how much short-term borrowing will be required at
the end of February?

a.
$60,000.
b.
$70,000.
c.
$75,000.
d.
$80,000.

answer:B

Answer1:
$450,000+855,000*(1-5%)/90*(90-50)=$811,000

Answer2:
$30,000+$200,000-$350,000*60%-($25,000-$5,000)+$200,000-$400,000*60%-($25,000-$5,000)-$10,000

=-$70,000

jiniandehulv

说实话,楼主是我见过RP最最好的人~~~~谢谢

jiniandehulv

Can you tell me how to make the decision in the quetions below?

would youplease give me the explanation?

Kern Manufacturing has several divisions and evaluates performance using segment
income. Since sales include transfers to other divisions, Kern has established a price for
internal sales as cost plus 10%. Red Division has requested 10,000 units of Green
Division’s product. Green Division is selling its product externally at a 60% markup
over cost. The corporate policy will encourage the Green Division to
a.
transfer the product to the Red Division because all costs are being covered and
the division will earn a 10% profit.
b.
reject the sale to the Red Division because it does not provide the same markup as
external sales.
c.
accept the sale to the Red Division if it is operating at full capacity and the sale
will contribute to fixed costs.
d.
transfer the product to the Red Division if it does not require the Green Division
to give up any external sales.

 
For several years, Northern Division of Marino Company has maintained a positive
residual income. Northern is currently considering investing in a new project that will
lower the division’s overall return on investment (ROI) but increase its residual income.
What is the relationship between the expected rate of return on the new project, the firm’s
cost of capital, and the division’s current ROI?

a.
The expected rate of return on the new project is higher than the division’s current
return on investment, but lower than the firm’s cost of capital.
b.
The firm’s cost of capital is higher than the expected rate of return on the new
project, but lower than the division’s current return on investment.
c.
The division’s current return on investment is higher than the expected rate of
return on the new project, but lower than the firm’s cost of capital.
d.
The expected rate of return on the new project is higher than the firm’s cost of
capital, but lower than the division’s current return on investment.

KHD Industries is a multidivisional firm that evaluates its managers based on the return
on investment (ROI) earned by their divisions. The evaluation and compensation plans
use a targeted ROI of 15% (equal to the cost of capital) and managers receive a bonus of
5% of basic compensation for every one-percentage point that the division's ROI
exceeds 15%. David Evans, manager of the Consumer Products Division, has made a
forecast of the division's operations and finances for next year that indicates the ROI
would be 24%. In addition, new short-term programs were identified by the Consumer
Products Division and evaluated by the finance staff as follows.
Program Projected ROI
A 13%
B 19%
C 22%
D 31%

ChinaCarol

以下是引用jiniandehulv在2008-11-1 0:54:00的发言：

Kern Manufacturing has several divisions and evaluates performance using segment
income. Since sales include transfers to other divisions, Kern has established a price for
internal sales as cost plus 10%. Red Division has requested 10,000 units of Green
Division’s product. Green Division is selling its product externally at a 60% markup
over cost. The corporate policy will encourage the Green Division to
a.
transfer the product to the Red Division because all costs are being covered and
the division will earn a 10% profit.
b.
reject the sale to the Red Division because it does not provide the same markup as
external sales.
c.
accept the sale to the Red Division if it is operating at full capacity and the sale
will contribute to fixed costs.
d.
transfer the product to the Red Division if it does not require the Green Division
to give up any external sales.

 
For several years, Northern Division of Marino Company has maintained a positive
residual income. Northern is currently considering investing in a new project that will
lower the division’s overall return on investment (ROI) but increase its residual income.
What is the relationship between the expected rate of return on the new project, the firm’s
cost of capital, and the division’s current ROI?

a.
The expected rate of return on the new project is higher than the division’s current
return on investment, but lower than the firm’s cost of capital.
b.
The firm’s cost of capital is higher than the expected rate of return on the new
project, but lower than the division’s current return on investment.
c.
The division’s current return on investment is higher than the expected rate of
return on the new project, but lower than the firm’s cost of capital.
d.
The expected rate of return on the new project is higher than the firm’s cost of
capital, but lower than the division’s current return on investment.

KHD Industries is a multidivisional firm that evaluates its managers based on the return
on investment (ROI) earned by their divisions. The evaluation and compensation plans
use a targeted ROI of 15% (equal to the cost of capital) and managers receive a bonus of
5% of basic compensation for every one-percentage point that the division's ROI
exceeds 15%. David Evans, manager of the Consumer Products Division, has made a
forecast of the division's operations and finances for next year that indicates the ROI
would be 24%. In addition, new short-term programs were identified by the Consumer
Products Division and evaluated by the finance staff as follows.
Program Projected ROI
A 13%
B 19%
C 22%
D 31%

Answer 1: D
Definition of TP (Transfer pricing). You can get further explanation from whichever textbook.

Answer 2: D
Definition of ROI & RI. Also, you can get further explanation from whichever textbook.

Answer 3: Er, is this Q want us to select which program should be excluded? If so, the answer is A.

ChinaCarol

To jiniandehulv:

Frankly speaking, all the nine Qs you have asked is about the basic definition. I suggest you should

spend more efforts on whichever textbook before doing exercises. In my opinion, even you may pass

the Part 3 by submerging masses of Qs, you can hardly pass Part 4 in the same way, since at

that time you should write essay by youself without any hint.

To all:

Sigh, it's time for chinese financial year-end, busy season! I have to spend less time on our forum.

Best wish to us all, especially in this recession year.