F2 (MA/FMA) – Chapter 06 – PART C – CBE MCQs – ACCA

These are ACCA F2 (MA/FMA) Management Accounting MCQs for Part-C of the Syllabus “Cost accounting methods and systems”.

These multiple-choice questions (MCQs) are designed to help ACCA F2 (MA) students to better understand the exam format. We aim to instill in students the habit of practicing online for their CBE exams. By doing so, students can reduce exam stress and prepare more effectively.

INFORMATION ABOUT THESE MCQs Test

Course: ACCA – Associations of Chartered Certified Accountants
Fundamental Level: Knowledge, FIA – Foundation in Accounting
Subject: Management Accounting
Paper: F2 – MA/FMA
Chapter: Accounting for labour
Chapter Number: 06 of the Practice and Exam Kit
Syllabus Area: C – Cost accounting methods and systems
Questions Type: CBE MCQs
Exam Section Type: Section A

Benefits of Practicing Online on AGlobalBox.com

  1. Authentic Exam Experience:
    Practicing online allows ACCA students to experience an environment closely resembling the actual exam. The MCQs on our platform are designed to mirror the format, difficulty level, and question types found in ACCA exams. This familiarity helps students become more comfortable and confident when facing the real exam.
  2. Comprehensive Question Bank:
    We provided comprehensive question banks covering various topics across the syllabus. By practicing online, students gain access to a wide range of MCQs that thoroughly test their knowledge and understanding in each area.
  3. Enhanced Learning and Retention:
    The interactive nature of online practice enhances learning and improves information retention. Students can actively engage with the MCQs, select answers, and receive immediate results. This approach aids in reinforcing concepts and identifying areas that require further study, thereby maximizing learning outcomes.
  4. Time Management Skills:
    Practicing online helps students develop essential time management skills required for ACCA exams. By adhering to time limits while answering MCQs, students learn to allocate their time effectively and improve their speed and accuracy. This skill is invaluable for completing the actual exam within the given time constraints.
  5. Performance Tracking and Progress Evaluation:
    Students can monitor their results, track their strengths and weaknesses, and identify areas that need improvement.

Number of the Questions

There are 12 Questions in this F2 MCQ Test that cover Chapter 6; Accounting for labour of ACCA F2 (MA/FMA) Management Accounting Module.

Time

This MCQs test is not time-bound. Take your time and solve them without stress. Pay proper attention and focus. Do not rush or hesitate.

Result

Students will get their F2 CBE MCQ result after they finish the entire test. They will also be able to see the score in percentage, correct and incorrect answers, as well as explanations for the incorrect questions.

Types of Questions

MCQs: Choose one from the given options.
Multiple choice: Choose all answers that seem correct or incorrect, as per the requirement of the question. Keep your eye on the wording “(select all those which are correct/ or incorrect)”.
Dropdown: Select from the list provided.
Type numbers: Type your answer in numbers as per the requirement of the question.


0 votes, 0 avg
29

F2 - Chapter 6 - Part A - MCQs

Course: ACCA - FIA
Subject:
F2 (MA/FMA) Management Accounting
Chapter: 6 - Accounting for labour
Syllabus Area: C - Cost accounting methods and systems
Exam Section: Section A
Questions type: MCQs
Time: No Time Limit

INSTRUCTIONS

  1. If you are using mobile, turn on the mobile rotation and solve the MCQs on wide screen for better experience.

REQUEST

  1. Please rate the quiz and give us feedback once you completed the quiz.
  2. Share with ACCA students on social media such as, Facebook Groups, Whatsapp, Telegram, etc.

1 / 12

A company had 30 direct production employees at the beginning of last year and 20 direct production employees at the end of the year. During the year, a total of 15 direct production employees had left the company to work for a local competitor.

What is the labour turnover rate for last year?

2 / 12

A company has 4,000 staff at the start of 20X6 and at the end this had reduced to 3,800 due to redundancies being made. 210 staff took voluntary redundancy which was 10 more than the company had anticipated and these 10 employees were replaced.

What is the labour turnover rate per year (to two decimal places)?

______ %

3 / 12

Which TWO of the following statements about group bonus schemes are true?

4 / 12

An employee is paid on a piecework basis. The basis of the piecework scheme is as follows:

1 to 100 units $0.20 per unit
101 to 200 units $0.30 per unit
201 to 299 units $0.40 per unit

with only the additional units qualifying for the higher rates. Rejected units do not qualify for payment.

During a particular day the employee produced 210 units of which 17 were rejected as faulty.

What did the employee earn for their day's work?

5 / 12

In a typical cost ledger, what is the double entry for indirect labour cost incurred?

6 / 12

Budgeted and actual production data for the year that has just ended are as follows.

Product Budgeted production Actual production
Units Standard machine hours Units
W 15,000 3,000 12,000
X 20,000 8,000 25,000
Y 14,000 7,000 16,000
Z 6,000 9,000 5,000

Total machine hours worked in the period amounted to 29,000 hours.

What was the efficiency ratio in the year, as a percentage to one decimal place?

_______ %

7 / 12

Budgeted and actual production data for the year that has just ended are as follows.

Product Budgeted production Actual production
Units Standard machine hours Units
W 15,000 3,000 12,000
X 20,000 8,000 25,000
Y 14,000 7,000 16,000
Z 6,000 9,000 5,000

Total machine hours worked in the period amounted to 29,000 hours.

What was the capacity ratio in the year, as a percentage to one decimal place?

______ %

8 / 12

The following data relate to work in the finishing department of a certain factory.

Normal working day 7 hours
Basic rate of pay per hour $5
Standard time allowed to produce 1 unit 4 minutes
Premium bonus payable at the basic rate 60% of time saved

On a particular day one employee finishes 180 units.

What is his gross pay for the day? $ ________

9 / 12

X Co has recorded the following wages costs for direct production workers for November.

$
Basic pay 70,800
Overtime premium 2,000
Holiday pay 500
Gross wages incurred 73,300

The overtime was not worked for any specific job.

What are the accounting entries for these wages costs?

10 / 12

What does the labour cost graph below depict?

11 / 12

Jane works as a member of a three-person team in the assembly department of a The team is rewarded by a group bonus scheme whereby the team leader receives 40 per cent of any bonus earned by the team, and the remaining bonus is shared evenly between Jane and the other team member. Details of output for one day are given below.

Hours worked by team 8 hours
Team production achieved 80 units
Standard time allowed to produce one unit 9 minutes
Group bonus payable at $6 per hour 70% of time saved

What is the bonus element of Jane's pay for this particular day?

12 / 12

Employee A is a carpenter and normally works 36 hours per week. The standard rate of pay is $3.60 per A premium of 50% of the basic hourly rate is paid for all overtime hours worked. During the last week of October, Employee A worked for 42 hours. The overtime hours worked were for the following reasons:

Machine breakdown: 4 hours
To complete a special job at the request of a customer: 2 hours

How much of Employee A's earnings for the last week of October would have been treated as direct wages?

$ _______ (to two decimal places)

Your score is

Leave a Reply

Your email address will not be published. Required fields are marked *