Accounting 9706/12 May June 2012 | Cambridge AS Level Past Papers With Mark Scheme

1. Calculation of total rent receivable, adjusting for prepaid and accrued amounts.
2. Accounting for asset revaluation by adjusting cost and depreciation reserves.
3. Application of substance over form principle in hire purchase asset recognition.
4. Correction of gross profit through adjustments for opening and closing inventory misstatements.
5. Computation of prime cost, considering direct materials, labor, and manufacturing overheads.
6. Inventory valuation using FIFO, and its impact on inventory costs during sales.
7. Effect of changes in cash discount rates and inventory control on gross profit margin.
8. Decision-making for selling products using gross profit ratio as the key metric.
9. Calculation of break-even sales revenue and overhead absorption rates for accurate cost tracking.
10. Purpose of job cost sheets in providing pricing and overhead allocation transparency.