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Foundation level · Management Accounting

Management Accounting · May 2021

Every objective and theory question in this paper, and the topic notes to revise each one.

3 questions3 objective5 topics to revise
Source: ICAN Pathfinder, Foundation Level Examination, Management Accounting, May 2021

May 2021 diet

3 objective and 0 theory
3 objective0 theory

Objective questions Section A

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Objective questionSection A

  • Section A (multiple choice): From the previous syllabus. An item asks which description fits overhead absorption: charging costs to a number of cost centres or units, tested against allocation and apportionment.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.

Revise this question

Overhead absorption, under- and over-absorption, fixed and variable overheads › Overhead absorption rates
Source: ICAN Pathfinder, Foundation Level Examination, Management Accounting, May 2021
7
Objective question 7Section A

  • From the previous syllabus. Asks how abnormal gain is calculated: normal loss minus actual loss.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.

Revise this question

Process costing: normal loss, abnormal loss and abnormal gain › Abnormal gain
Source: ICAN Pathfinder, Foundation Level Examination, Management Accounting, May 2021, Question 7
9
Objective question 9Section A

  • From the previous syllabus. Asks which activity usually uses a composite cost unit, linked to cost units for services.

  • From the previous syllabus. Related to cost units and cost centres. Asks which activity usually makes use of a composite cost unit.

  • From the previous syllabus. Asks which costing method usually makes use of a composite cost unit: service costing.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.

Revise this question

Cost classification by element, function and behaviour › Key terms: cost object, cost unit and unit costManufacturing overheads and the stages of absorption costing › Cost centresService costing › Composite cost units
Source: ICAN Pathfinder, Foundation Level Examination, Management Accounting, May 2021, Question 9
Source and reference. These questions come from the Institute of Chartered Accountants of Nigeria (ICAN) Pathfinder for the Foundation Level Examination, Management Accounting, May 2021. When you use them, please cite the source, for example: ICAN Pathfinder, Foundation Level Examination, Management Accounting, May 2021. Each question carries its own reference and a button to copy it.