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Costs & Budgets (202500-META-CPTG12114-EN)

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In the list below, what is the function that standard costs do not

fulfil in a budget?

Budgeted standard costs are often used to facilitate the construction of

production or personnel cost budgets.

❌

Budgeted standard costs are mainly used to facilitate

the calculation of the breakeven in a budget and to facilitate simulations.

✅

Budgeted standard costs are often used as control devices to facilitate

the measurement between objectives and achievements.

❌

If they are budgeted downwards for personnel costs and production

budgets, standard costs budgeted downwards can be used to set ambitious targets

for managers.

❌

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Consider the following stages in budget construction: A) drawing up the

forecast income statement; B) volume sales budget; C) sales budget valuation;

D) drawing up the production and procurement programme; E) production cost

valuation; F) overhead cost valuation.

What is the most logical sequencing of a budget process?

FABEDC

ABCDEF

BDCEFA

100%

CDEBAF

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In the case of Blackhole, which factors make the transition from the

income statement to the cash flow statement

the most complex?

The fact that the collection deadlines must also apply to invoicing for

the last few months of last year.

The timing of receipts and disbursements and the neutralization

of depreciation.

100%

The fact that the income statement is presented on a quarterly basis and

the cash flow statement on a monthly basis.

The fact that the time taken to disburse raw materials is different from

that taken to disburse other expenses.

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In the list below, which of the following is not

a budget

limit?

The budget is often perceived as time-consuming and energy-consuming for

managers.

❌

The budget is often perceived by managers as a 'game' in which the

results are often known in advance.

❌

In certain increasingly unpredictable and heterogeneous environments,

the budget is often exceeded within the first few months.

❌

The budget mobilises the various layers of management

in order to envisage a new collective project.

✅

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Secondary (or auxiliary) costs pools are?

Costs pools allocated to other costs pools

100%

Ensembles of cost objects

Functions and activities for which a cost is not necessary to evaluate

Costs pools where costs from other costs pools are allocated

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Costs pools are?

Functions and activities for which costs are evaluated

Ensemble of cost objects

Parts of an organization for which budgets are prepared

Bundles of homogeneous indirect costs to be allocated

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ESC is a company in which fixed costs are estimated at 540,000 It plans

to sell 100,000 Beta products at selling price is € 20. Beta’s variable costs

per unit are € 10. Consequently, it plans to allocate € 400,000 of fixed costs

to Beta in total (allocated from ESC’s total € 540,000 fixed costs).

What

will be ESC profit on the Beta sales if they reach this level?

€ 2,000,000

€ 1,000,000

€ 200,000

€ 600,000

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The law firm of Sun & Jung has a staff of 30 lawyers and

administrative staff. Budgeted total costs of the firm total $4,000,000 of

which $2,500,000 is direct labor cost.

Assuming that the remaining costs are indirect and direct labor cost is

the allocation base, calculate the budgeted indirect cost rate.

38% of direct‐labor cost

63% of direct‐labor cost

60% of direct‐labor cost

160% of direct‐labor cost

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K2 is a business law firm specialising in arbitration. Until 2020, its

management accounting had only one direct expense item (lawyers' fees) and one indirect cost center (overhead). The overhead allocation key was the cost of lawyers' fees

(per euro). K2's clients are charged 120% of the total cost of the contracts.

The actual costs for 2020 were as follows:

Lawyers' fees: € 100,000,000

Overheads: € 190,000,000

What is the unit cost of the overhead allocation key? (two figures after the decimal point)

€ 0,52

€ 2,10

None of these answers

€1,90

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Which one of the following costs is more likely

to need an