pathfinder - The Institute of Chartered Accountants of Nigeria

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PATHFINDER(i)(ii)Maximizing the efficiency in timing of orders for raw materials or partsthat are placed with suppliers.Efficient scheduling of the manufacture and assembly of the finalproduct.The operation of a material requirement planning requires the following:(i)(ii)(iii)(iv)A master production schedule showing the quantities and timingrequired for the finished product.A bill of material which shows the breakdown of each finished productinto sub-assemblies, components and raw materials.An inventory file containing the balance on hand, scheduled receipts andnumbers already allocated for each material.A parts manufacturing and purchasing file containing lead times of allpurchased items and lead times and production sequences of all subassembliesand components produced internally.EXAMINERS‟ REPORTThe question tests candidates‟ knowledge of:Essentials of materials and production controlStorekeeping functionsMaterial Requirement PlanningAbout 95% of the candidates attempted this question.Performance was below average as 30% of the candidates who attempted the questionscored 50% and above.Major shortcomings include the following:Candidates lacked understanding of the requirements of the question.Many candidates confused storekeeping functions with valuation of storematerials.MRP (Materials Requirement Planning) was taken in many instances asMaterials Requisition Notes.INTERMEDIATE EXAMINATION - NOVEMBER 201020
PATHFINDERIt is recommended that:Candidates should endeavour to cover all aspects of the syllabus diligently.Speculation as to areas of concentration should be discouraged amongcandidates as much as possible.QUESTION 2GOKE LIMITEDPROJECT 101N‟000 N‟000Material direct to site 1,750 Material c/d 415Material from store 670 Material transferred 855Plant depreciation 300 Insurance c/d 90Plant depreciation 900 W.I. P c/d 600Wages 1,070 Cost of work certified 4,750Wages accrued 250Sub-contact costs 850Fuel & Diesel 400Other expenses 340Insurance 1806,710 6,710Cost of work certified 4,750 Value of work certified 5,200Profit for the year 4505,200 5,200Material b/d 415 Wages 250Insurance b/d 90W.I.P b/d 600Before any profit can be taken for the year it is necessary to estimate the overallproject outcomeN‟000 N‟000Contract value 7,500Cost to date 5,350*Future cost 960 6,310Expected overall profit 1,190INTERMEDIATE EXAMINATION - NOVEMBER 201021
Page 3: PATHFINDERTABLE OF CONTENTSSUBJECTS
Page 6 and 7: PATHFINDER10. First in First out (F
Page 8 and 9: PATHFINDER1 19 912030 0 ES5TLSTX312
Page 10 and 11: PATHFINDER4. The formula for alloca
Page 12 and 13: PATHFINDERMaterials on site as at e
Page 14 and 15: PATHFINDERQUESTION 5The table below
Page 16 and 17: PATHFINDERWORKINGS12. EOQ =2CO D 21
Page 18: PATHFINDERWORKINGS13. Sample space
Page 23 and 24: PATHFINDERQUESTION 3OGBUEFI LIMITED
Page 25 and 26: PATHFINDERQUESTION 4(a)Euler-Venn d
Page 27 and 28: PATHFINDERP 0 Q 0 P 1 Q 1 Q 0 + Q 1
Page 29 and 30: PATHFINDEREXAMINERS‟ REPORT200 3
Page 31 and 32: PATHFINDER4. ONE of the following m
Page 33 and 34: PATHFINDER12. The auditor, in carry
Page 35 and 36: PATHFINDER19. Statutory Auditing ca
Page 37 and 38: PATHFINDER15. Section 29 of Banks a
Page 39 and 40: PATHFINDERQUESTION 5Auditing of com
Page 41 and 42: PATHFINDERPART II SHORT ANSWER QUES
Page 43 and 44: PATHFINDERany, in depreciation rate
Page 45 and 46: PATHFINDER(v)(vi)Creditors are able
Page 47 and 48: PATHFINDERvii. Natural disaster;vii
Page 49 and 50: PATHFINDERCandidates shied away fro
Page 51 and 52: PATHFINDEREXAMINERS‟ REPORTThe re
Page 53 and 54: PATHFINDERICAN/102/P/2EXAMINATION N
Page 55 and 56: PATHFINDER8. What is the term used
Page 57 and 58: PATHFINDER15. Which of the followin
Page 60 and 61: PATHFINDERSECTION B: ATTEMPT ANY FO
Page 62 and 63: PATHFINDERQUESTION 3Mr. James makes
Page 64 and 65: PATHFINDERQUESTION 6SOULINE Company
Page 66 and 67: PATHFINDER5. RATES OF PERSONAL INCO
Page 68 and 69: PATHFINDERPART II: SHORT-ANSWER QUE
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PATHFINDERIncome tax payable 14,259
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PATHFINDERBased on the New Accounti
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PATHFINDERAll the above principles
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PATHFINDEREXAMINERS‟ REPORTPart (
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PATHFINDERCandidates are advised to
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PATHFINDERICAN/102/P/4EXAMINATION N
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E. Assessment.PATHFINDER9. All rese
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PATHFINDER17. Some students in the
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PATHFINDER15. The statistic that di
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PATHFINDERQUESTION 6A survey on the
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PATHFINDEREXAMINERS‟ REPORTThe qu
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PATHFINDERvi.vii.Information hoardi
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PATHFINDER(vii)Consideration: Commu
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PATHFINDERc ii.Cluster SamplingIt i
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PATHFINDEREXAMINERS‟ REPORT:The q
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PATHFINDERDecision:Since the calcul
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pathfinder - The Institute of Chartered Accountants of Nigeria

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