MAC1501 Assignment 3 Second Semester 2022

MAC1501
ASSIGNMENT 3
SOLUTIONS



PREPARED BY: MTHOMBENI

0767297208

, VERSION 1




In building a cost accounting system, management must select a cost-flow
assumption from those prescribed by IFRS.

Select one:
True
False
Question 2
Correct
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In time wage systems, the remuneration paid to an employee is based on the number of
hours the employee worked.

Select one:
True
False
Question 3
Correct
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The labour recovery rate is determined by dividing the total budgeted labour cost by the
total budgeted productive hours per employee for the year.

Select one:
True
False
Question 4
Incorrect
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Direct method apportions the costs of service departments on a one-by-one basis to
production and other service departments.

Select one:
True
False
Question 5
Correct
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Step variable costs are predominately fixed in nature.

Select one:
True
False
Question 6
Correct
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Budgeted capacity is the anticipated use of available capacity based on planned
production levels.

Select one:
True
False
Question 7
Correct
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Question text
Consider the cost/volume behaviour below:
Cost Volume
R100 1 unit
R1 000 10 units
R10 000 100 units


This cost/volume behaviour is typical of a _______ overheads cost.




Select one:

A.
variable


B.
mixed


C.
step


D.
fixed

Question 8
Correct
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One of the following is not deductible from employee’s salary or wage:

Select one: