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

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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.

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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

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1 / 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?

$54.00

$57.90

$47.90

$63.00

2 / 12

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

With a group bonus scheme, it is easier to award each individual's performance

Non-production employees can be rewarded as part of a group incentive scheme

Compared with individual schemes, group bonus schemes are difficult to administer

Group bonus schemes are appropriate when increased output depends on a number of people all making extra effort

3 / 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)

4 / 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?

DEBIT: work in progress account 72,800, DEBIT: overhead control account 500, CREDIT: wages control account 73,300

DEBIT: wages control account 73,300, CREDIT: work in progress account 70,800, CREDIT: overhead control account 2,500

DEBIT: wages control account 73,300, CREDIT: work in progress account 72,800, CREDIT: overhead control account 500

DEBIT: work in progress account 70,800, DEBIT: overhead control account 2,500, CREDIT: wages control account 73,300

5 / 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?

60.0%

16.7%

25.0%

20.0%

6 / 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)?

______ %

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

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?

$5.04

$16.80

$10.08

$7.20

9 / 12

What does the labour cost graph below depict?

A piece rate scheme with a minimum guaranteed wage

A differential piece rate scheme

A straight time rate scheme

A straight piece rate scheme

10 / 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?

_______ %

11 / 12

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

DEBIT: Wages control, CREDIT: Admin overhead control

DEBIT: Overhead control, CREDIT: Wages control

DEBIT: Wages control, CREDIT: Overhead control

DEBIT: Admin overhead control, CREDIT: Wages control

12 / 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