MANAGEMENT ACCOUNTING
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1 MANAGEMENT ACCOUNTING Course Code Chief Course Instructor Course Instructor UM15MB605 Dr. Anitha S Yadav Course Credits 4 No. of Hours Credit pattern ISA 52 Lecture Tutorial Practical/ Seminar Self study Credits % (30% for two tests + 5% for activities +5% for attendance) ESA 60% Course Objectives This course provides the students an understanding of relevance of cost in managerial decision making. The course provides a comprehensive knowledge of classification of cost, apportionment of overheads, process costing, activity based costing, segmental reporting, preparation of budgets and cost volume profit analysis for decision making and cost control Course Outcome At the end of the course, students are able to 1. Explain the concepts of unit costing activity based costing, apportionment of overheads, process costing, segmental reporting and budgeting. 2. Exhibit skills in Identifying, Measuring and Analysing costing data. 3. Provide alternative solutionsfor cost control and related cost management applications in practice. Pedagogy/Andragogy/Didactics Each unit will have 60% of time in Lecture, 20% in case and 20% learning through GD, Flip classes, Audio-visuals and other activities.
2 COURSE PLAN (52 Hours) No. Session Topics Coverage % age Cum% UNIT-1 1 Introduction: Basic Concepts of costs Cost Classification, Centres, Profit centres and Investment Centres, Cost 2 6 unit. 4 Cost analysis for Management Decision Making Cost Sheet and Unit Costing Cost Sheet and Unit Costing Preparation of tenders and quotations Preparation of tenders and quotations Job Costing Differences between Job Costing and Unit Costing ASSIGNMENT 1 Didactics 1 Briefly explain costs relevant for decision making. 2. Explain the various elements of cost with suitable eg. 3The following data is extracted from the books of a manufacturer who manufactures a standard produced during a 4 week period ending :- Particulars Amount Raw Materials consumed 4,000 Wages 6,000 Machine hours worked 1000 hours Machine hour Rate 0.50 Office 20% on works cost Selling overhead per unit 0.06 Units produced in the period 20,000 units Units sold in the Re 1/- per unit) 18,000units You are required to prepare a cost sheet showing the cost per unit and the profit for the period. Unit 2 11 Apportionment of Overheads and Budgetary Control: Accounting for Factory Overheads, Differences between Allocation and Absorption 12 Apportionment of Overheads- Primary Distribution of Overheads
3 13 Secondary Distribution of Overheads- Repeated 2 26 Case study Distribution Method. 14 Simultaneous Equation Method Overhead Absorption rates- Treatment of Overabsorption 2 30 and Under absorption of Overheads. 16 Reasons for Over and Under absorption Meaning of Budgetary Control and budgeting Preparation of Production Budgets Preparation of Flexible Budgets Preparation of Flexible Budgets. 2 40
4 ASSIGNMENT 2 1. Distinguish between Allocation and Absorption. 3. What do you understand by primary and secondary distribution of overheads? 3 Prepare a flexible budget for overheads on the basis of the following data. Ascertain the overhead rates at 50%, 60% and 70% capacity. At 60% capacity Variable overheads: Rs. Indirect material 6,000 Indirect labour 18,000 Semi-variable overheads: Electricity (40% fixed, 60% variable) 30,000 Repairs (80% fixed, 20% variable) 3,000 Fixed overheads: Depreciation 16,500 Insurance 4,500 Salaries 15,000 Total Overheads 93,000 Estimated direct labour hours 1,86,000 4.For the manufacture of 10,000 locks, the following are the budgeted expenses: Per unit Rs Direct material 60 Direct labour 30 Variable overhead 25 Fixed overhead (Rs.1,50,000) 15 Variable expenses (direct) 5 Selling expenses (10% fixed) 15 Administrative expenses (Rs.50,000 fixed for all levels of production) 5 Distribution expenses (20% fixed) 5 Total cost of sale per unit 160 Prepare a budget for the production of 6,000, 7,000 and 8,000 locks, showing distinctly the marginal cost and total cost.
5 Unit 3 21 Cost Volume Profit Analysis 2 42 Cost Volume Profit (CVP) relationship, 22 Profit Planning and behaviour of expenses Assumptions of CVP Model Sensitivity Analysis Marginal Costing Differential Costing Decisions involving Make or Buy Decisions involving Acceptance or Rejection of 2 54 Case study Special Orders. 29 Product Mix Sell or Process further Shut Down or Continue Product and Pricing Decisions. 2 62
6 ASSIGNMENT 3 1.The Sales Turnover and Profit during the two years were as follows :- Year Sales Profit Rs Rs ,50,000 20, ,70,000 25,000 You are required to calculate:- P/ V ratio. BEP. The sales required to earn a Profit of Rs. 40,000 Margin of safety at a profit of Rs. 50,000 The Profit made when sales are Rs. 2,50,000. Variable costs of the two periods. 2.From the following calculate the Break Even Point. Variable Cost per unit Rs 10 Selling Price per unit Rs 15 Fixed expenses Rs 50,000. What should be the selling price per unit if the BEP is to be brought down to 5,000 units. 3. Cost-Volume Profit analysis is a very useful technique to management for cost control, profit planning and decision making. Explain Unit 4 33 Process Costing 2 64 Meaning, Features of Process 34 Significance of Process Costing Treatment of Normal and Abnormal Losses 2 68 in Process Accounts. 36 Treatment of Normal and Abnormal Losses 2 70 in Process Accounts. 37 Treatment of Normal and Abnormal Gain in Process 2 72 Accounts. 38 Preparation of profit and loss accounts Preparation of Process Accounts Preparation of Process Accounts Preparation of Process Accounts with profit and loss A/c Case Study
7 42 Meaning Joint and By-Products. Preparation of Process Accounts Unit 5 43 Activity Based Costing Introduction and applications Cost Drivers for Activity Based Costing Cost Analysis at unit level Cost Analysis at Batch level and product Merits and Demerits of ABC Problems on ABC Costing Case study 49 Cost Reduction and Cost Control Management Reporting purpose of Reporting Segment Reporting, Objectives and users of Segment 2 98 Reporting. 52 Applicability of Accounting Standard Recommended Book: 1. Managerial Accounting Jiambalvo,James,, Wiley India publications 2. Management Accounting, Khan & Jain,, Tata McGraw Hills. Reference Book 1. Management Accounting Arora.M.N. Cost and Vikas Publication 2. Cost Accounting, S.P.Jain, K.L.Narang, Kalyani Publishers. Note: Each session is one hour duration
8 QUESTION BANK Unit 1 3 MARK QUESTION 1. What is Cost? 2. What is a Cost centre? 3. What is Costing? 4. What is Cost accounting? 5. What is prime cost? 6. What do you understand by Management Accounting? 7. What is a Cost sheet? 8. What is works cost 9. What do understand by a cost unit? 10. Name any three tools of Cost Management. 11. What do you understand by classification of cost? 12. Differentiate between Job costing and Process costing. 13. What do you understand by Opportunity costs? 14. What are overheads? 15. What is an investment centre? 5/7/10 MARK QUESTIONS 16. Briefly explain costs relevant for decision making.
9 17. Briefly explain the various elements of cost. 18. Distinguish between job costing and process costing 19. The following figures for the month of April 2010 were extracted from the books of a manufacturing concern. Opening stock of finished goods (5,000 units) Rs 45,000 Purchase of Raw Materials Rs 2,57,100 Direct wages Rs 1,05,000 Factory overheads: Administrative overhead: Selling and Distribution overhead: 100 % of Direct wages. Re 1 per unit 10% of sales. Closing stock of finished goods (10,000 units)? Sales (45,000 units) Rs 6,60,000 Prepare a cost sheet for the month of April 2010 assuming that sales are made on the basis of First in First out principle. 20. A firm is manufacturing motors and the following information was extracted from its costing records for the year ended Work in Progress on :- At Prime Cost Rs. 51,000 Manufacturing expenses Rs. 15,000 Rs.66,000 Work in Progress on :- At Prime Cost Rs. 45,000
10 Manufacturing expenses Rs. 9,000 Rs.54,000 Opening stock of raw Materials as on Purchase of Raw Materials Direct Labour Manufacturing expenses Stock of Raw materials as on Rs.2,25,000 Rs.4,77,000 Rs.1,71,000 Rs.84,000 Rs.2,04,000 Prepare a Cost Sheet showing the Cost of Production. Unit II 3 MARK QUESTION 1. What are overheads? 2. Distinguish between Allocation and Absorption. 3. What do you understand by primary and secondary distribution of overheads? 4. What is the impact of over absorption of overheads in books of account. 5. What are the reasons for under absorption of overhead? 6. State the reasons for over -absorption of overhead? 7. What is budgetary control? 8. What are the uses of flexible budgets? 9. Why do we prepare a production Budget? 10. What are the step involved in repeated distribution method of absorption service department expenses?
11 11. What are absorption rates? 12. Distinguish between allocation, apportionment and absorption of overheads. 13. XYZ Ltd. is a manufacturing company having three Production Departments A, B and C and two Service Departments Stores and Workshop. The following is the budget for March Particulars Total A B C Stores Workshop Direct materials 1,000 2,000 4,000 2,000 1,000 Direct wages 5,000 2,000 6,000 1,000 2,000 Factory rent 4,000 Power 2,500 Depreciation 1,000 Other overheads 9,000 Additional Information:- Particulars A B C Stores Workshop Area (Sq.ft) Capital value of assets( Rs.lakhs) Machine hours 1,000 2,000 4,000 1,000 1,000 Horsepower of machines The apportionment of expenses of service departments is as under: Particulars A B C Stores Workshop Service Dept. X (%) Service Dept. Y (%) Required: 1. A statement showing distribution of overheads to various departments 2. A statement showing re-distribution of services department expenses to production departments.
12 14. Prepare a flexible budget for overheads on the basis of the following data. Ascertain the overhead rates at 50%, 60% and 70% capacity. At 60% capacity Variable overheads: Rs. Indirect material 6,000 Indirect labour 18,000 Semi-variable overheads: Electricity (40% fixed, 60% variable) 30,000 Repairs (80% fixed, 20% variable) 3,000 Fixed overheads: Depreciation 16,500 Insurance 4,500 Salaries 15,000 Total Overheads 93,000 Estimated direct labour hours 1,86, ABC Co. Ltd. Manufactures two different products, M and N. Forecasts of the number of units to be sold in the first seven months of the year are given below: Months Product M Product N Jan 1,000 2,800 Feb 1,200 2,800 Mar 1,600 2,400 Apr 2,000 2,000 May 2,400 1,600 June 2,400 1,600 July 2,000 1,800
13 It is expected that (i) there will be no work-in-process at the end of every month (ii) finished units equal to half the sales for the next month will be in stock at the end of each month (including previous December). Budgeted production and production costs for the whole year are as follows: Production in Units Product M Product N 22,000 24,000 Per unit cost (Rs.) Direct Material Direct Labour Total factory overhead apportioned (Rs.) 88,000 72,000 Prepare a month-wise production budget for the six months ending 30th June and a summarized production cost budget. 16. Manju Agro Industries Ltd. manufactures pickles and juices. The sales department has prepared the following forecasts for the quarter ending March 31, 2013: Product No. of Bottles Pickles: Lemon 1,00,000 Mixed 75,000 Juices: Orange 25,000 Mango 15,000 Pear 35,000 The inventory levels have been determined as under: Products Work-in-Progress Finished Goods Units % Completed
14 Opening Closing Opening Closing Opening Closing Pickles: Lemon 25,000 40, ,500 6,000 Mixed 15,000 25, ,000 2,000 Juices: Orange 5,000 4, ,500 2,000 Mango 3,000 3, Pear 4,000 5, ,000 2,000 The production in each month is expected to be uniform. Prepare production budget for the quarter. 17. For the manufacture of 10,000 locks, the following are the budgeted expenses: Per unit Rs Direct material 60 Direct labour 30 Variable overhead 25 Fixed overhead (Rs.1,50,000) 15 Variable expenses (direct) 5 Selling expenses (10% fixed) 15 Administrative expenses (Rs.50,000 fixed for all levels of production) 5 Distribution expenses (20% fixed) 5 Total cost of sale per unit 160 Prepare a budget for the production of 6,000, 7,000 and 8,000 locks, showing distinctly the marginal cost and total cost.
15 18. Elixir Electronics Co. Ltd. has prepared its budget at capacity level of 6,000 units of their only product as under: Particulars Raw material Direct wages Direct expenses Admn. Overheads Advt. & Distribution overheads Repairs & maintenance Insurance Depreciation Power Amount (Rs) 30,000 (100 % varying) 18,000 (100 % varying) 12,000 (100 %varying) 6,000 (70 % varying) 3,000 (40 % varying) 5,000 (75 % varying) 3,000 (25 % varying) 6,000 (75 % varying) 1,200 (75 % varying) Compute the unit cost of the production levels of 3,000 units and 9,000 units. 19. The expenses budgeted for productions of 10,000 units in a factory are furnished below: Particulars Per Unit Rs. Materials 70 Labour 25 Variable Overheads 20 Fixed Overheads (Rs.1,00,000) 10 Variable Expenses (Direct) 5 Selling Expenses (10% fixed) 13 Administrative Expenses (Rs.50,000) 5
16 Distribution Expenses (20% fixed) 7 Total 155 Prepare a budget for the production of (a) 8,000 units and (b) 6,000 units. Assume that administrative expenses are rigid for all levels of production. 20. A company is working at 50% capacity manufactures 10,000 units of a product. At 50% capacity the product cost is Rs.180 and sale price is Rs.200. The breakup of the cost is as below: Material Cost per unit Rs.100 Wages 30 Factory Administration overheads 30 (40% fixed) 20 (50% fixed) At 60% working, raw material cost goes up by 2% and sales price falls by 2%. At 80% working, the raw material cost increases by 5% and sale price decreases by same percentage, i.e., 5%. Prepare a statement to show profitability at 60% and 80% capacity. Unit III 3 MARK QUESTION 1. What is marginal cost? 2. What do you understand by Marginal Costing? 3. Why do we use P/V ratio? 4. Briefly discuss Break even analysis? 5. What do you understand by Cost Volume Profit analysis? 6. Mention any 3 advantages of Marginal Costing. 7. What are the demerits of using Marginal Costing?
17 8. How does marginal costing help a Manufacturing concern in decision making? 9. What is Margin of safety? 10. The size of margin of safety is an extremely valuable guide to the strength of a business. Discuss. 11. What is sensitivity analysis? 12. What are the uses of budget? 13. What are the assumptions of CVP analysis? 14. What is Key Factor? 15. What is variable cost? 5/7/10 MARK QUESTION 16. The following figures relate to a company manufacturing a varied range of products:- Particulars Total Sales Rs. Total Cost Rs. Year ended , 23,000 19, 83,600 Year ended , 51,000 21, 43,200 Assuming stability in prices with Variable Costs carefully controlled to reflect predetermined relationships and an unvarying figure for fixed costs calculate :- The P/V ratio to reflect the rates of growth for profit and sales. Fixed cost. Fixed cost % to Sales. Break even point. Margin of safety for both the years. 17. The Sales Turnover and Profit during the two years were as follows :- Year Sales Profit Rs Rs ,50,000 20,000
18 2013 1,70,000 25,000 You are required to calculate:- P/ V ratio. BEP. The sales required to earn a Profit of Rs. 40,000 Margin of safety at a profit of Rs. 50,000 The Profit made when sales are Rs. 2,50,000. Variable costs of the two periods. 18. From the following calculate the Break Even Point. Variable Cost per unit Rs 10 Selling Price per unit Rs 15 Fixed expenses Rs 50,000. What should be the selling price per unit if the BEP is to be brought down to 5,000 units. 19. A company engaged in plantation activities has 200 hectares of virgin land which can be used for growing jointly or individually Tea, Coffee or Cardamom. The yield per hectare of the different crops and their selling prices are as follows:-
19 Products Yield in kgs Selling price per kg in Rs Tea Coffee Cardamom The relevant cost data are as follows :- Variable cost per kg Tea Coffee Cardamom Labour Charges Rs 8 Rs 10 Rs 120 Packing Materials Rs 2 Rs 2 Rs 10 Other Costs Rs 4 Rs 1 Rs 20 Total costs Rs 14 Rs 13 Rs 150 Fixed cost per annum:- Cultivation and growing Cost Rs. 10,00,000 Administrative cost Rs. 2,00,000 Land revenue Rs. 50,000 Repairs and Maintenance Rs. 2,50,000 Other costs Rs. 3,00,000 Total Cost Rs. 18,00,000 The policy of the company is to produce and sell all the three kinds of products and the maximum and minimum area to be cultivated per product is as given below: Hectares Maximum Minimum Tea Coffee Cardamom Calculate the most profitable product mix and the maximum profit which can be achieved. 20. The following particulars are extracted from the records of a company, Particulars Product A Product B
20 Rs. Per Unit Rs. Per Unit Sales Price Consumption of Materials (Kgs) 5 4 Material cost Direct Wages 2 3 Machine hours used 2 3 Variable overheads 4 6 Comment on the profitability of each product (both use the same raw material) when: A. Total sales potential in units is limited B. Total sales potential in value is limited C. Raw materials is in short supply Production capacity in terms of machine hour is the limiting factor 21. Cost-Volume Profit analysis is a very useful technique to management for cost control, profit planning and decision making. Explain 3 MARK QUESTION UNIT IV 1. What is process costing? 2.How do you treat normal and abnormal loss in process costing? 3.What is abnormal effectiveness? 4. What do you understand by joint and by-products? 5. Discuss the features of process costing.? 6. What are Joint costs?
21 7. A product passes through three distinct processes to completion. These processes are numbered respectively I, II, and III. During the week ended 15 th January 2015, 500 units are produced. Following information is obtained: Particulars Process I Process II Process III Rs. Rs. Rs. Direct Materials 3,500 1,600 1,500 Direct Labour 2,500 2,000 2,500 The overhead expenses for the period were Rs.1,400 apportioned to the processes on the basis of wages. No work- in- progress or process stocks existed at the beginning or at the end of the week. Prepare process accounts. 8. Eureka Chemicals Ltd. Produced three chemicals during the month of July 2014 by three consecutive processes. In each process 2% of the total weight put in is lost and 10% is scrap which from processes (1) and (2) realises Rs.100 a ton and from process (3) Rs.20 a ton. The product of the three processes are dealt with as follows: Particulars Process I Process II Process III Passed on to the next process 75% 50% Sent to warehouse for sale 25% 50% 100% Expenses incurred: Particulars Process I Process II Process III Rs. Tons Rs. Tons Rs. Tons Raw materials 1,20,000 1,000 28, ,07,840 1,348
22 Manufacturing wages 20,500 18,520 15,000 General Expenses 10,300 7,240 3,100 Prepare process cost accounts showing the cost per ton of each product. 9 Following data are available pertaining to a product after passing through two processes A & B. Output transferred to process C from process B 9,120 units for Rs. 49,263. Expenses incurred in process C: Sundry materials Rs. 1,480 Direct labour - Rs. 6,500 Direct expenses - Rs. 1,605 The wastage of process C is sold at Rs per unit. The overhead charges were 168% of direct labour. The final product was sold at Rs per unit fetching a profit of 20% on sales. Find the percentage of wastage in process C and prepare process C account. 10. The product of the company passes through three distinct processes to completion. They are known as A, B, and C. From past experience it is ascertained that loss is incurred in each process as : Process A 2%, Process B-5%, Process C- 10%. In each case the percentage of loss is computed on the number of units entering the process concerned. The loss of each process has a scrap value. The loss of processes A & B is sold at Rs. 5 per 100 units and that of process C at Rs. 20 per 100 units. The output of each process passes immediately to the next process and the finished units are passed from process C into stock. Particulars Process A Process B Process C Rs. Rs. Rs. Materials Consumed 6,000 4,000 2,000 Direct labour 8,000 6,000 3,000
23 Manufacturing expenses 1,000 1,000 1,500 20,000 units have been issued to process A at a cost of Rs. 10,000. The output of each process has been as under: Process A 19,500; Process B 18,800; Process C 16,000. There is no work-in-progress in any process. Prepare process accounts. Calculations should be made to the nearest rupee. 11. A certain product passes through two processes desired before it is transferred to finished stock. Following information is obtained for the month of March Particulars Process I Process II Finished stock Rs. Rs. Rs. Opening stock 7,500 9,000 22,500 Direct material 15,000 15,750 Direct wages 11,200 11,250 Production Overheads 10,500 4,500 Closing stock 3,700 4,500 11,250 Profit % on transfer price to the next process 25% 20% Inter-process 1,500 8,250 Stocks in processes are valued at prime cost and finished stock has been valued at the price at which it was received from Process II. Sales during the period were Rs. 1,40,000. Prepare and compute: a. Process cost accounts showing profit element at each stage b. Actual realised profit
24 12. A product passes through three distinct processes A,B and C. The normal loss of units in each process is 5%, 10% and 15% and the same is sold at Rs.2,4 and 5 Rs per unit respectively. Expenses for the month were as follows: Particulars Process A Process B Process C Materials(Rs) 5,200 3,960 5,924 Wages (Rs.) 4,000 6,000 8,000 Actual Output in units 1,900 1,680 1,500 2,000 Rs. 3 per unit were put into Process A. The total overheads are Rs. 18,000 which are to be recovered at 100% of wages. Prepare necessary process accounts. 13. The following particulars relate to two process X and Y for the month of Jan.2015: Particulars Process X Process Y Total input(in units) 50,000 Rs.1.50 p.u Normal loss( % of input) 10% 5% Additional costs incurred: Materials ,600 Direct Labour 35,000 45,000 Overheads 27,500 39,500 Realisable values of scrap p.u. Re.0.50 Rs. 2 Output in units 43,000 43,000 The entire output of process X was transferred to process Y. The entire output of process Y was sold at Rs.6 per unit. Assume, there was no opening or closing stock. You re required to prepare necessary accounts for the period. 14. Distinguish between normal and abnormal wastage of materials with specific reference to the accounting treatment and control.
25 15. The finished product of a factory has to pass through three processes A,B and C. The normal wastage of each process if 2% in A,5% in B and 10% in C. The percentage of waste is computed on the number of units entering each process. The scrap value of wastage of Process A,B and C are Rs.10,Rs.40, Rs 20 per 100 units respectively. The following further information is obtained. Particulars Process A Process B Process C Materials consumed 12,000 4,000 4,000 Direct Labour 8,000 6,000 6,000 Mfg. expenses 2,000 4,000 2,000 2,000 units were out to process A at a cost of Rs. 16,000.The output of each process has been A 19,600 units, B-18,400 and C 16,700 units. Prepare process accounts. 16) A product passes through two Processes. The output of Process 1 becomes the input of Process 2 and the output of process 2 is transferred to warehouse. The quantity of raw materials introduced into Process 1 is 20,000 kgs at Rs.10 per kg. The cost and output data for the month under review are as under: Process 1 Process 2 Direct Materials Rs. 60, Rs. 40, Direct Labour Rs. 40, Rs. 30, Production Overheads Rs. 39, Rs.40, Normal Loss 8% 5% Output 18, Loss realization Rs./unit The company s policy is to fix the selling price of the end product in such a way as to yield
26 a profit of 20% on selling price. MARK QUESTIONS UNIT V 1. What do you mean by Management Reporting? Discuss its importance in modern business. 2. Explain the principles of good reporting system. 3. Explain the various informational needs of different levels of management. 4. Discuss various managerial reports prepared by business firms. 5. What do you understand by internal reports? How are they different from external reports? 6. Explain in detail the various kinds of internal reports. 7. How do you classify the Reports according to Contents? 8. Define a special report. Discuss its importance in a trading concern. 9. What are the objectives of Segmental Reporting? 10. Examine the applicability of AS What is Activity based costing? 12. Explain cost drivers and cost pool? 13. Analyse the merits and demerits of ABC costing? 14. Who are the users of Segment reporting? 15. Distinguish between Cost control and cost reduction 16. What is target costing? 17. What do mean by peanut butter costing 18. What is a cost driver? Explain the types of cost driver. 19. A company manufacturing two products furnishes the following data for a year: Product Annual Output Total Machine Total No.of Total No. Of (Units) Hours purchase orders set-ups A 5,000 20, B 60,000 1,20, The annual overheads are as under:
27 Volume related activity costs: 5,50,000 Set-up related costs 8,20,000 Purchase related costs 6,18,000 You are required to calculate the cost per unit of each product A and B based on: a) Traditional method of charging overheads. b) Activity based costing method. 20. Cello company produces Delux pen and Regular pens. Data relating to the two products is presented below:- Particulars Delux Pen Regular Pen Annual production in units 30,000 70,000 Direct Material costs 1,00,000 2,00,000 Direct Manufacturing labour costs 30,000 60,000 Direct Manufacturing labour hours 2,500 5,000 Machine hours 15,000 30,000 Number of production runs Inspection hours Both the products pass through department I and Department II. The department combined manufacturing overhead costs are: Machining costs 4,00,000 Setup costs 1,50,000 Inspection costs 1,20,000 Compute manufacturing overhead cost per unit for each product and cost per unit for each product.
28 21. A company manufacturing two products furnishes the following data for a year. Total Product Annual Output Total Machine Hours Total Number of Purchase Orders No. of setups (in units) A 7,500 15, B 85,000 1,35, The annual overheads are as follows:- Volume related activity costs Rs. 6, 50,000 Set-up related costs Rs. 8, 50,000 Purchases related costs Rs. 6.38,000 You are required to calculate the Cost per Unit of each product X and Y based on A. Traditional Method of charging Overheads B. Activity Based Costing Method.
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