6002 June 2009

Examiner’s use only

Team Leader’s use only

Surname Initial(s)

Signature

Centre No.

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Candidate No.

Question Leave Number Blank

1

2

3

4

5

6

7

Total

Paper Reference(s)

6002/01London Examinations GCEAccounting (Modular Syllabus)Advanced Subsidiary/Advanced LevelUnit 2: Corporate and Management AccountingFriday 5 June 2009 – MorningTime: 3 hours

Materials required for examination Items included with question papers

Nil Source booklet

Instructions to CandidatesIn the boxes above, write your centre number, candidate number, your surname, initial(s) and signature. Answer FIVE questions, choosing TWO from Section A and THREE from Section B.Indicate which question you are answering by marking the box ( ).If you change your mind, put a line through the box ( ) and then indicate your new question with a cross ( ). All calculations must be shown.Write your answers in the spaces provided in this question paper.Do not return the insert with the question paper.

Information for CandidatesThe marks for individual questions and the parts of questions are shown in round brackets: e.g. (2).There are 7 questions in this question paper. The total mark for this paper is 200. There are 40 pages in this question paper. Any blank pages are indicated.Calculators may be used.The source material for use with questions 1 to 7 is in the enclosed source booklet.

Advice to CandidatesWrite your answers neatly and in good English.

Paper Reference

6 0 0 2 0 1

This publication may be reproduced only in accordance with Edexcel Limited copyright policy. ©2009 Edexcel Limited.

Printer’s Log. No.

M33447AW850/6002/57570 4/5/4/

*M33447A0140*

M33447A_Paper_GCE_Accounting_Uni1 1 10/11/2008 07:31:38

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*M33447A0�40*

SECTION A

Answer TWO questions from this section.

If you answer question 1, put a cross in this box ( ).

Source material for question 1 is on pages 2 and 3 of the source booklet.

1. (a) Prepare the balance sheet for Oceanic Fruit Trading plc as at 31 March 2009 in accordance with format one of the Companies Act 1985.

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Turn over*M33447A0�40*

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(b) “A company’s balance sheet is more important than its profit and loss account”. Evaluate this statement.

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....................................................................................................................................... (12) Q1

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*M33447A0�40*



2. (a) Complete the column to show the Variances, clearly stating whether Adverse or Favourable, for the month of April 2009.

Budget Actual Variance

£ £ £

Sales 168 000 159 750

Less

Material Costs 27 000 30 160

Labour Costs 29 440 29 016

Variable Overheads 12 310 13 358

= Cost of Goods Sold 68 750 72 534

Gross Profit 99 250 87 216

Fixed Overheads 58 500 58 500

Net Profit 40 750 28 716

(8)


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(b) Calculate for the month of April each of the following:

(i) the quantity of material used in the actual production of one loaf

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(ii) the material usage variance, stating the formula used

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(iii) the material price variance, stating the formula used.

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(c) Calculate for the month of April each of the following:

(i) the number of hours worked by each of the 32 workers

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(ii) the labour efficiency variance, stating the formula used

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(iii) the labour rate variance, stating the formula used.

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*M33447A01�40*

(d) Study the budget and actual figures, and the information given for April 2009. Evaluate the most appropriate actions to achieve the £40 000 net profit target required by the directors.

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*M33447A01440*



3. (a) Calculate:

(i) the purchase price of Wessex Quarries Limited

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(ii) how many shares the members of Wessex Quarries Limited received in Roadworks Limited.

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*M33447A01�40*

(b) In the books of Highway Connections Limited, prepare the:

(i) Realisation account

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(ii) Sundry shareholders account.

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*M33447A01�40*

(c) Prepare the balance sheet of Roadworks Limited as at 1 April 2009.

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*M33447A0�040*

Angelina was a shareholder in Highway Connections Limited.

(d) Evaluate the merger from the point of view of Angelina.

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(Total 52 marks)

TOTAL FOR SECTION A: 104 MARKS


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*M33447A0��40*

SECTION B

Answer THREE questions from this section.



4. (a) Prepare, for the first three months of trading for Eezysnooze Limited: (For each of the three months, the budgets should show total figures for EACH

month, NOT weekly figures)

(i) A purchases budget in pounds (£s)

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(ii) A purchases budget in units (beds)

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(iii) A production budget in units (beds)

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(iv) A sales budget in units (beds)

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(v) A stock budget in units (beds). The budget should show the number of units going into stock each month, and the total number of units in stock at the end of each month.

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*M33447A0�440*

(vi) A creditors budget in pounds (£s) showing the creditors figure at the end of each month

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(vii) A debtors budget in pounds (£s) showing the debtors figure at the end of each month.

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Production is determined by the maximum production capacity of the factory, NOT by the number of beds ordered by customers.

(b) Evaluate the decision to produce a quantity determined by the maximum capacity of the factory instead of producing a quantity determined by customers’ orders.

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*M33447A0��40*



5. (a) Calculate, for the year ended 31 March 2008:

(i) Earnings per ordinary share

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(ii) Dividend paid per share

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(iv) Dividend cover.

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(b) Calculate, for the year ended 31 March 2009:

(i) Total ordinary dividend paid for the year

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(ii) Share price at 31 March 2009

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*M33447A0��40*

(iii) Net profit for the year after interest and tax

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(iv) Dividend yield

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(c) Evaluate the performance of Oriental Tea plc in the year ended 31 March 2009, compared to the year ended 31 March 2008.

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*M33447A03040*


Source material for question 6 is on page 12 of the source booklet.

6. (a) Calculate for the project the:

(i) payback period, showing your answer in years and months

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*M33447A03�40*

(ii) average rate of return.

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(b) Evaluate the project for the company, considering both financial and non-financial factors.

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*M33447A03440*


Source material for question 7 is on page 13 of the source booklet.

7. (a) (i) Calculate the estimated profit or loss for each of the fields of the Northern Region for June 2009.

(ii) If all three fields are to be reopened, calculate the total estimated profit for the Northern Region.

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*M33447A03�40*

(b) Calculate the estimated profit or loss, and the contribution, made by each of the three gas fields, per BTU, for the month of June 2009.

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*M33447A03�40*

(c) Evaluate the figures to make a decision as to the future of each of the three gas fields, using marginal costing.

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.......................................................................................................................................(8) Q7

(Total 32 marks)

TOTAL FOR SECTION B: 96 MARKSTOTAL FOR PAPER: 200 MARKS

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6002 June 2009

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Transcript of 6002 June 2009