Opening Inventory stock 4 000 1 Purchases 8 400 2 200 3 000 7 600 2 11 600

Opening inventory stock 4 000 1 purchases 8 400 2 200

This preview shows page 73 - 77 out of 152 pages.

Opening Inventory (stock) 4 000 (1) Purchases (8 400 + 2 200 – 3 000) 7 600 (2) 11 600 Closing Inventory (Stock) 2 000 (1) Cost of Sales 9 600 Gross Profit 8 900 Less Expenses Cafe expenses (4 200 – 1 200 + 50) 3 050 (2) Wages – Cafe Staff 5 000 8 050 Cafe Profit 850 (1of) [8] Compiled by D. El-Hoss All questions copyright of Cambridge International Examinations 73
Image of page 73
Page 5 Mark Scheme: Teachers’ version Syllabus Paper GCE AS/A LEVEL – October/November 2010 9706 22 © UCLES 2010 (c) Schubert Music Club Income and Expenditure Account for the year ended 31 December 2009 $ $ Income Subscriptions 2 800 (1of) Life Subscriptions (4 000 / 20 = 200) + ((6 × 500) / 20 = 150) = 350 350 (2) Cafe Profit 850 (1of) 4 000 Expenditure Competition cash prizes 6 000 (1) Sundries 2 500 (1) Bad debts 100 (1) Depreciation – Clubhouse 2 000 (1) Depreciation – Equipment 1 000 (1) 11 600 Deficit (7 600) [9] (d) Increase membership Increase subscriptions Encourage life subscriptions Social events Or other relevant suggestions (3 × 2 marks for analysis) (1 plus 1 for development) [6] [Total: 30] 3 (a) (i) 120 000 (1) / (6 (1) – 5 (1) ) = 120 000 (1) units 120 000 × $6 (1) = $720 000 (1of) [6] (ii) $ Selling Price 6 Variable Costs 5 Contribution per unit 1 (2 c/f) Quantity 200 000 200 000 Fixed Costs 120 000 (1) Profit 80 000 (1) [4] (iii) Margin of safety = 200 000 (1) – 120 000 (1of) = 80 000 units 80 000 / 200 000 (1) × 100 = 40% (1of) [4] Compiled by D. El-Hoss All questions copyright of Cambridge International Examinations 74
Image of page 74
Page 6 Mark Scheme: Teachers’ version Syllabus Paper GCE AS/A LEVEL – October/November 2010 9706 22 © UCLES 2010 (b) Profit / volume graph for product D946 [4] (c) D946 D947 D948 Selling Price per unit 6 9 13 Less Variable Costs per unit 5 10.50 10 Equals Contribution per unit 1 (1.5) (1) 3 (1) × Number of Units 200 000 50 000 (1) 30 000 (1) Equals Total Contribution 200 000 (1) (75 000) (1) 90 000 (1) 215 000 (1) Less Fixed Costs 240 000 (1) Equals Profit / Loss (25 000) (1) NB Total figures, that is total sales and total variable costs, are equally acceptable [10] (d) All three products should not (1) be produced. D947 should be eliminated as it has a negative contribution (1) . [2] [Total: 30] 120 (1) or $720 120 (1) Loss Profit 80 (1) ‘000 Units 200 (1) or $1200 Compiled by D. El-Hoss All questions copyright of Cambridge International Examinations 75
Image of page 75
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced Subsidiary Level and GCE Advanced Level MARK SCHEME for the October/November 2010 question paper for the guidance of teachers 9706 ACCOUNTING 9706/23 Paper 2 (Structured Questions – Core), maximum raw mark 90 This mark scheme is published as an aid to teachers and candidates, to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award marks. It does not indicate the details of the discussions that took place at an Examiners’ meeting before marking began, which would have considered the acceptability of alternative answers. Mark schemes must be read in conjunction with the question papers and the report on the examination.
Image of page 76
Image of page 77

You've reached the end of your free preview.

Want to read all 152 pages?

  • Fall '19
  • Balance Sheet, 1973, 1982, GCE Advanced Level, cambridge international examinations

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture