procurement-costing-and-budgeting
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DATE 06 Dec 2025
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SIZE 2.24 MB
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notes
About This Document
Document Type: This is a Study Notes, designed for Reviewing core curriculum material.
Context: Standard material from the 2017 academic period.
Key Content: Likely covers essential definitions, theoretical concepts necessary for mastery of the subject.
Study Strategy: Summarize these notes into flashcards or mind maps to aid active recall and long-term retention.
Recommendation: comprehensive resource for students aiming to deepen their understanding of General Studies.
Detailed Content Overview
Introduction
This notes resource titled "procurement-costing-and-budgeting" provides comprehensive exam preparation materials designed to test and enhance your understanding. This resource is structured to facilitate effective learning and retention of important information.
Key Topics Covered
Learning Objectives
- Master key concepts required for examination success
- Practice answering exam-style questions effectively
- Develop time management skills for timed assessments
- Identify and address knowledge gaps in understanding
Detailed Summary
CERTIFIED PROCUREMENT AND SUPPLY PROFESSIONAL (CPSP) PART II PROCUREMENT COSTING AND BUDGETING WEDNESDAY: 29 November 2017. Marks allocated to each question are shown at the end of the question. SECTION A QUESTION ONE (a) Define the following terms as used in costing and budgeting: Cost accounting. (2 marks) (i) Material usage variance. (2 marks) (ii) Material price variance. (2 marks) ke Explain the following as used in procurement costing and budgeting: op w. ch (6 marks) (Total: 20 marks) w Discuss the various classifications of costs. w (c) SECTION B QUESTION TWO (a) The project manager of Shangilia firm, a small production business, has provided you with the following information for the month of 30 September 2017: Production 1,100 units. There was no opening stock. Variable manufacturing cost per unit Sh. Total fixed manufacturing overhead cost Sh. Variable selling and administration overhead per unit Sh. 50 Fixed selling and distribution overhead Sh. Selling price per unit Sh. Required: Prepare an income statement using: (i) Marginal costing approach.
Study Tips & Recommendations
Time Management
Practice under timed conditions to improve speed and accuracy. Allocate specific time limits to each section.
Active Practice
Attempt all questions before checking answers. Review mistakes to understand where improvements are needed.
Mark Scheme Review
Study marking schemes carefully to understand how examiners award points and structure your answers accordingly.
Regular Review
Schedule periodic reviews to reinforce learning and combat forgetting. Use spaced repetition for optimal retention.
Content Preview
CERTIFIED PROCUREMENT AND SUPPLY PROFESSIONAL (CPSP) PART II PROCUREMENT COSTING AND BUDGETING WEDNESDAY: 29 November 2017. Time Allowed: 3 hours. Answer ALL questions. Marks allocated to each question are shown at the end of the question. Show ALL your workings. SECTION A QUESTION ONE (a) Define the following terms as used in costing and budgeting: Cost accounting. (2 marks) (ii) Forecasting. (2 marks) (iii) Marginal costing. (2 marks) (iv) Budgetary control. (2 marks) (v) Variance analysis. (2...
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