FREE ACCA F2 (Accountant in Business) Questions and Answers
When calculating the cost of a product, one example of a direct expense in an organization that produces several distinct goods in a single huge plant is the factory's rent.
Because it cannot be immediately linked to the creation of a particular product, the factory's rent is not regarded as a direct expense for pricing a product. Direct costs are those that, like raw materials or direct labor, may be linked directly to a particular product. On the other hand, rent is an indirect cost associated with the factory's overall operations that is paid for by all of the goods produced there. As such, the claim is untrue.
Which cost unit would be most suitable for a manufacturer of cakes? Price per:
Since a cost-per-cup cake would be extremely little, it is not a suitable cost unit.
Data is information that has undergone processing to give its recipients meaning.
For data to have meaning for its recipients, it need not necessarily be processed. Unprocessed, meaningless raw facts, statistics, or symbols are referred to as data. Data does not become information that has significance for its recipients unless it is arranged, examined, and interpreted. As a result, it is untrue to say that data has been processed to make sense.
In addition to offering piecework compensation, the organization assures its workers of receiving 80% of a time-based rate of pay, or $20 per hour for an eight-hour workday. The standard amount of time per output unit is three minutes. The pay rate for piecework is $18 per regular hour. What is the gross compensation of an employee on a given day if they create 200 units in eight hours?
The choice was made to select the 12th item, and then every 20th item, in order to take a sample. Which kind of sampling is this an example of?
A sort of sampling known as systematic sampling involves choosing samples from a population at regular intervals. In this instance, the sample was obtained by choosing the 12th item, and then each of the next 20 items. This technique offers a methodical and structured approach to sampling by guaranteeing that every 12th item and every 20th item after that are included in the sample. Therefore, systematic sampling is the right response.
The same percentage of people in each age group as there are in the population as a whole is included in the sample. Which kind of sampling is this an example of?
Stratified sampling is the process of separating the population into discrete groups or strata according to specific attributes, in this example, age ranges. Next, the sample is drawn so that the proportion of each stratum in the population is represented. Thus, stratified sampling is demonstrated by the following scenario, which involves taking a sample of the population that is representative of the same proportion of individuals in different age groups as the population as a whole.
Of the following, which one goes under the category of indirect labor?
Workers who support or service the manufacturing line but do not actively participate to the process are referred to as indirect laborers. Since they move materials and items throughout the company's stores rather than being directly involved in the creation of goods, forklift truck drivers in the stores of an engineering company might be categorized as indirect labor in this instance.