1. Which one of the following actions would be appropriate it a short-term cash surplus is identified in a company's cas

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1. Which one of the following actions would be appropriate it ashort-term cash surplus is identified in a company's cashbudget?
OA Replace or update non-current assets
OB. Buy back some of the company's shares
OC. Delay payments to suppliers
OD Increase inventories to improve customer service
2. A firm makes special electrical units to customers’ ordersand uses job costing
The data for a period are
Job reference
Xl Ym Zn
$ $ $
Opening work in progress 26800 42790 0
Material added in period 17275 0 18500
Labour for period 14500 3500 24600
The budgeted overheads for the period were $134000 and these areabsorbed on the basis of labour cost.
Job Xl was completed and delivered during the period and thefirm value wishes to earn a 25% mark-up on cost.
What should be the selling price for job Xl?
A. $192575
B. $73219
C. $130231
D. $138913
3. Which of the following statements about overhead absorptionrates (OAR) is / are true?
( 1 ) They are usually determined in advance for each givenperiod
( 2 ) They are used to control overhead costs
( 3 ) They are used to plan production schedules
( 4 ) They are usually based on actual data for a givenperiod
A. ( 1 ) only
B. ( 4 ) only
C. ( 1 ) and ( 4 )
D. ( 2 ) and ( 3 )
4. Slot Ltd, a manufacturer of vending machines, only makesmachines to order and uses job costing. Slot Ltd absorbs overheadsbased on direct labour cost.
Data for the last month of its financial year when only twomachines were in production are:
Machine 1
Machine 2
Opening work in progress
72,400
16,400
Labour for month
14,200
15,800
Material added in month
0
46,600
Machine 2 was completed during the month, during which SlotLtd's budgeted overheads (which were the same as actual overheads)were £85,200
What was the value of closing work in progress at the end of themonth
A. £86,600
​​B. £126,928
C. £165,400
D. £250,600