ZIMSEC O-Level Principles of Accounts Paper 3 June 2020 Question Paper

Download and practise with this ZIMSEC O-Level Principles of Accounts Paper 3 June 2020 question paper. Useful for exam revision, past paper practice, and preparation in Zimbabwe.

A free account is needed to download. Sign in or create one

Answers: ZIMSEC O-Level Principles of Accounts Paper 3 June 2020 Marking Scheme

Exam board: ZIMSEC
Subject: Principles of Accounts
Level: O-Level
Document: Question Paper
Paper: Paper 3
Paper code: 6001/3
Session: June
Year: 2020
File: PDF, 209 KB

About this question paper

This is the ZIMSEC O-Level Principles of Accounts question paper for Paper 3 from June 2020. Use it for exam practice under timed conditions, then check your work against the marking scheme. The paper code is 6001/3. See the marking scheme.

More Principles of Accounts O-Level 2020 papers

Other years: Principles of Accounts O-Level

2019 Paper 1 November Question Paper179 KB
2019 Paper 1 June Question Paper1.6 MB
2021 Paper 1 November Question Paper2.2 MB
2019 Paper 2 June Question Paper230 KB
2021 Paper 2 November Question Paper836 KB
2019 Paper 1 November Question Paper620 KB
2019 Paper 1 June Question Paper1.2 MB
2019 Paper 1 May/June Question Paper154 KB

Text from the first page

2

Answer all questions
1 Derby Limited manufactures a product called Mula. The following information per unit of Mula was provided

  |  s
 Selling price  |  60
 Direct material  |  18
 Direct labour  |  9
 Variable production overhead  |  3
 Annual costs  |
 Fixed production overheads  |  18000
 Fixed selling and administration costs  |  45000
 Variable selling costs : $10 \%$ of annual sales revenue  |
 Normal production 15000 units per year  |

Fixed production overheads are absorbed based on normal level.

   |  2016  |  2017   |  Units  |  Units
Production  |  18000  |  13000
Sales  |  13500  |  15000

There was no opening inventory at 1 January 2016.
(a) Prepare Income Statements for 2016 and 2017 using
(i) Marginal costing,

[8]
(ii) Absorption costing.

[9]
(b) Prepare a statement to reconcile the profit in a (i) with profit in a (ii).

[5]
(c) Explain why the absorption costing statement produces a different profit figure to the marginal costing statement.

[3]
6001/3 J2020
Scanned by CamScanner