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    F2 and FMA Full Specimen Exam Answers PDF

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    SNEHA MARIYAM VARGHESE SIM 16-18
    This document provides answers to questions on a full specimen exam for F2/FMA. It includes 33 multiple choice questions answered with the correct option. Several questions include calculations of variances, investment project appraisals, and balanced scorecard measures. The summary provides an overview of the types of questions answered without copying the full text or calculations.

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    F2 and FMA Full Specimen Exam Answers PDF

    Uploaded by

    SNEHA MARIYAM VARGHESE SIM 16-18
    311 views4 pages
    This document provides answers to questions on a full specimen exam for F2/FMA. It includes 33 multiple choice questions answered with the correct option. Several questions include calculations of variances, investment project appraisals, and balanced scorecard measures. The summary provides an overview of the types of questions answered without copying the full text or calculations.

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    F2 and FMA Full Specimen exam answers.pdf

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    This document provides answers to questions on a full specimen exam for F2/FMA. It includes 33 multiple choice questions answered with the correct option. Several questions include calculations of variances, investment project appraisals, and balanced scorecard measures. The summary provides an overview of the types of questions answered without copying the full text or calculations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    311 views4 pages

    F2 and FMA Full Specimen Exam Answers PDF

    Uploaded by

    SNEHA MARIYAM VARGHESE SIM 16-18
    This document provides answers to questions on a full specimen exam for F2/FMA. It includes 33 multiple choice questions answered with the correct option. Several questions include calculations of variances, investment project appraisals, and balanced scorecard measures. The summary provides an overview of the types of questions answered without copying the full text or calculations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    F2/FMA Full Specimen Exam Answers

    Question Correct answer Marks


    1 Functional benchmarking 2
    2 Setting a cost by subtracting a desired 2
    profit margin from a competitive
    market price
    3 Process F Abnormal loss 2
    Process G Abnormal gain
    4 27000 2
    5 Differences in workforce motivation 2
    6 Random sampling 2
    7 147000 2
    8 2

    9 It helps coordinate the activities of 2


    different departments

    It establishes a system of control

    10 2 only 2
    11 30 2
    12 An increase in direct material prices 2
    An increase in raw material usage per
    unit
    13 $130,000 2
    14 1 and 2 2
    15 0 2
    - 0.94
    16 Sales volume variance 2
    17 13680 2
    18 12.5% 2
    19 $128,500 2
    20 EOQ Lower 2
    Annual holding cost - Lower
    21 $19,910 2
    22 $5,000 Adverse 2

    23 It seeks the lowest cost method of 2


    achieving a desired function

    It is applicable to both physical

    8/10/13
    products and services

    24 Piece rate 2
    25 Absorption costing profit/(loss) 2
    Month 1: $200 Month 2: $3,200
    Marginal costing profit/(loss)
    Month 1: $(400) Month 2: $4,400
    26 1 and 2 only 2
    27 75% 2
    28 Quantified short term targets the 2
    organisation seeks to achieve

    29 180 2
    30 Under absorbed by $3,875 2
    31 No strict rules govern the way in which 2
    the information is presented

    It may be presented in monetary or


    non-monetary terms
    32 61 degree 2
    33 A budget which shows sales revenue 2
    and costs at different levels of activity
    34 1461 2
    35 $20,000 2

    MTQ 36
    Task 1 (5 marks)
    Computerised tracking system investment of $2,100,000 Relevant
    Depreciation of $420,000 in each of the five years Irrelevant
    Staff training costs of $425,000 Relevant

    New staff total salary of $120,000 per annum Relevant


    Staff training costs of $75,000 Irrelevant
    Interest cost of $150,000 per annum Irrelevant

    Task 2 (3 marks)
    Incremental sales in Year 1 800000
    Savings in vehicle running costs in Year 1 110000
    Present value of the maintenance costs over the life of the Answer range:
    contract

    284000 - 285000

    Task 3 (2 marks)
    The project is worthwhile because the IRR is greater than the cost of capital

    8/10/13
    MTQ 37
    Task 1 (2 marks)
    =(C9*C4)-(150,000*8)

    Task 2 (6 marks)
    Standard cost operating statement $ $
    Month 1
    Budgeted contribution 700,000

    Sales volume variance 16800 Fav


    Standard contribution on actual sales 716800
    Sales price variance 5120 Adv
    711,680

    Cost variances
    Total direct materials variance 12,800 Adv

    Direct labour rate variance 21,000 Adv

    Direct labour efficiency variance 48,000 Fav

    Total variable production overhead 10,000 Fav


    variance
    24,200 Fav

    Actual contribution 735,880

    Task 3 (2 marks)
    Higher grade labour performed tasks more efficiently
    A productivity bonus was paid to direct labour

    MTQ 38
    Task 1 (6 marks)

    Return on capital employed 25 %


    Return on sales (net profit percentage) 10 %
    Asset turnover 2.5 times
    Average wait for a telephone repair Answer range:

    29-30 days

    Task 2 (2 marks)
    Percentage of customers lost per annum 6.00 %
    Percentage of sales attributable to new products Answer range:

    8/10/13
    1.66-1.67 %

    Task 3 (2 marks)
    A balanced scorecard measures performance from four process
    perspectives: customer satisfaction, growth, financial success efficiency
    and
    The scorecard is balanced in that it requires managers to deliver
    performance in
    all four areas

    8/10/13

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