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The staffing policy for a supermarket is to have one cashier station open for every forecasted 20 customers per hour. Cashiers are hired by the hour as and when required, and do not perform any other duties.

The cost of the cashiers in relation to the number of customers would be classified as which type of cost?

Options:

Stepped fixed cost

Variable cost

Semi-variable cost

Fixed cost

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Question 2

A company operates an integrated standard cost accounting system. The standard price of raw material A is $20 per litre. At the start of period 1, the inventory of 500 litres of raw material A was valued at $20 per litre. During period 1, 100 litres of raw material A were purchased at an actual price of $21 per litre. During period 2, 550 litres of raw material A were issued to Job 789.

In respect of the above events, which TWO of the following statements are correct? (Choose two.)

Options:

The raw material inventory at the end of period 1 should include 100 litres valued at $21 per litre.

An adverse material price variance should be recorded in the statement of profit or loss for period 1.

The raw material inventory at the end of period 2 should be valued at $20 per litre.

An adverse material price variance should be recorded in the statement of profit or loss for period 2.

The first 500 litres of raw material A issued should be debited to the Job 789 account at $20 per litre, and the remaining 50 litres at $21 per litre.

Question 3

Which of the following would NOT be an appropriate performance measure for a profit centre manager?

Options:

Return on capital employed

Contribution per unit

Sales price variance

Gross margin

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