书接上回，今天继续带大家来看看F5部分重点题型的答案解析。阅读本文前，同家们可以先温故一下之前的文章《冲刺班 | 2017 ACCA F5 Tips ：必过宝典!（上）》
Part three
部分重点题型的答案解析
（摘选近年来的重点难点考试真题）
(2016 New Type-Sample新题型样卷) 选择题
1 A company manufactures two products, C and D, for which the following information is available:
Other overhead costs are absorbed on a labor hour basis.
Using activity-based costing, what is the budgetedoverhead cost per unit of Product D?
2The selling price of Product X is set at $550 for each unit and sales for the coming year are expected to be 800 units.
A return of 30% on the investment of $500,000 in Product X will be required in the coming year.
What is the target cost for each unit of Product X?
Solution:
Return: $500,000 x 30% = $150,000
Total sales revenue = $550 x 800 =$440,000
Therefore total cost = $440,000 –$150,000 = $290,000
Unit cost = $290,000/800 = $362·50
(2015 Jun)选择题
1A division is considering investing in capital equipment costing $2·7m. The useful economic life of the equipment is expected to be 50 years, with no resale value at the end of the period. The forecast return on the initial investment is 15% per annum before depreciation. The division’s cost of capitalis 7%.
What is the expected annual residual income of the initial investment?
Solution:
RI = Divisional profit after depreciation- Imputed interest
= ($2.7m x 15% - $2.7m x 1/50) -$2.7m x 7% = $162,000
注释：
RI的重要变量是可控利润(本题叫做Divisional profit after depreciation)
controllable profit用来衡量子公司通过可控行为而产生的利润（即 需要剔除总部摊销费用，以及其他不可控因素对子公司利润的影响）
本题很明显： 子公司可以自主决定（控制）设备的投资，随后的折旧就是‘可控'费用
2The Fruit Company (F Co) currently grows fruit which customers pick themselves from the fields before paying. F Co is concerned that a large number of customers are eating some of the fruit whilst picking it and are therefore not paying for all of it. As a result, it has to decide whether to hire staff to pick andpackage the fruit instead. The following values and costs have been identified:
(i)The total sales value of the fruit currently picked and paid for by customers
(ii)The cost of growing the fruit
(iii)The cost of hiring staff to pick and package the fruit
(iv)The total sales value of the fruit if it is picked and packaged by staffinstead
Which of the above are relevant to the decision?
A All of the above; B (ii), (iii) and(iv) only; C (i), (ii) and (iv) only; D (i), (iii) and (iv)only
Solution:
(ii)Cost of growing the fruit will incur anyway ,regardless of the decision. 种植成本不管要不要"招收员工"，总是会发生的.
(i) and (iv)要结合起来看. 如： 原来收入为100元，"招收员工" 的收入的120元.
则， 因这个决定得以发生的现金流入为20元.
3 Which of the following statements describes target costing?
A It calculates the expected cost of a product and then adds a margin to it to arrive at the target selling price
B It allocates overhead costs to products by collecting the costs into pools and sharing them out according to each product’s usage of the cost driving activity
C It identifies the market price of a product and then subtracts a desired profit margin to arrive at the target cost
D It identifies different markets for a product and then sells that same product at different prices in each market
Solution:难度很低，考了目标成本法基本概念: 从市场接受的价格出发，减去目标利润空间，得到目标成本
4 The Mobile Sandwich Co prepares sandwiches which it delivers and sells toemployees at local businesses each day.
Demand varies between 325 and 400 sandwiches each day. As the day progresses, the price of the sandwiches is reduced and, at the end of the day, any sandwiches not sold are thrown away. The company has prepared a regret table to show the amount of profit which would be foregone each day at each supply level, giventhe varying daily levels of demand.
Applying the decision criterion of minimax regret, how many sandwiches should the company decide to supply each day?
A 325; B 350; C375; D 400
注释：
上图不是payoff table, 而是一张基于它计算出来的regret table.
当决策为‘每天生产375个三明治’, 在实际需求为325个时，后悔值（机会成本）达到最高；
当决策为‘每天生产325个三明治’, 在实际需求为400个时，后悔值（机会成本）达到最高；
当决策为‘每天生产350个三明治’, 在实际需求为400个时，后悔值（机会成本）达到最高；
当决策为‘每天生产400个三明治’, 在实际需求为325个时，后悔值（机会成本）达到最高；
对比其他决策，‘每天生产375个三明治’带来的最高机会成本$82是最小的，因此option C
11A company manufactures three products using different amounts of the same gradeof labor, which is in short supply.
The following budgeted data relates to the products:
What order should the products be manufactured in to ensure that profit is maximized?
Solution:
13A company’s sales and cost of sales figures have remained unchanged for the last two years. The following information has been noted:
The following statements have been made about the company’s performance for the recent year:
(i)Customers are taking longer to pay and this may have contributed to the declinein the company’s current ratio
(ii)Inventory levels have increased and this may have contributed to the decline inthe company’s quick ratio
Which of the above statements is/are true?
A(i) only; B (ii) only; C Both (i) and (ii); D Neither (i) nor (ii)
注释：考生对(ii)普遍疑惑. 说明对速动比率的计算公式都掌握不好: 该比率在分子剔除了存货余额，即：存货的变动对这个比率没有影响.
(2015 Jun) 1. Beckley Hill (ABC)
1Beckley Hill (BH) is a private hospital carrying out two types of procedures on patients. Each type of procedure incurs the following direct costs:
BH currently calculates the overhead cost per procedure by taking the total overhead cost and simply dividing it by the number of procedures, then rounding the cost to the nearest 2 decimal places. The total cost is $2,475.85 for Procedure A and $4,735.85 for Procedure B.
Recently,another local hospital has implemented activity-based costing (ABC). This has led the finance director at BH to consider whether this alternative costing technique would bring any benefits to BH. He has obtained an analysis of BH’stotal overheads for the last year and some additional data, all of which isshown below:
(a)Calculate the full cost per procedure using activity-based costing. (6'')
(b)Making reference to your findings in part (a), advise the finance director asto whether activity-based costing should be implemented at BH. (4'')
(b)Under HB's traditional method of dealing with overheads, the cost perprocedure:
Under ABC, BH considers the cost drivers that give rise to the overhead costs;
Therefore,Procedure A has higher costs and B has lower costs;
(没有问ABC是否可以帮助企业提高profit)
Before BH introduces ABC, some factors shall be considered:
• Complex, time-consuming and costly.
• Less benefits can be obtained by BH, if the overhead is insmall proportionof total cost.
• It is impossible to allocate all overheads to specific activities.
• The choice of both activities and cost drivers might be inappropriate.
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