Standard Costing and Budgetary Control CA
|
|
- Dayna Chapman
- 5 years ago
- Views:
Transcription
1 Standard Costing and Budgetary Control CA Past Years Exam Answers Answer to Q.1 (Nov, 2008) SP SQAO M 1 ` 6/kg. 500 kgs. = ` 3,000 SP AQ M 2 ` 6/kg. 450 kgs. = ` 2,700 AP AQ M 3 ` 8/kg. 450 kgs. = ` 3,600 Actual quantity consumed = 250 units 1.80 kgs. p.u. = 450 kgs. SQAO = 250 units 2 kgs. per unit = 500 kgs. DMCV = M 1 M 3 = 3,000 3,600 = ` 600 (A) DMUV = M 1 M 2 = 3,000 2,700 = ` 300 (F) DMPV = M 2 M 3 = 2,700 3,600 = ` 900 (A) Answer to Q.2 (May, 2009) Material price variance = ` 9,800 (A) (Standard Price Actual Price) (Actual Quantity) = 9,800 (` 40/kg. ` 42/kg).) (Actual Quantity) = 9,800 Solving, we get Actual Quantity = 4,,900 kgs. Hence, actual material consumed is 4,900 kgs. Answer to Q.3 (Nov, 2012) SR SHAO L 1 Skilled 45 2,340 = 1,05,300 Semi-skilled = 21,600 Un-skilled = 8,100 1,35,000 Actual Hours Paid (AHP) Skilled = = 2,000 hrs. Semi-skilled = = 1,200 hrs. Un-skilled = = 800 hrs. Actual Hours Worked (AHW) Skilled = =1,900 hrs. Semi-skilled = = 1,140 hrs. Un-skilled = = 760 hrs. SR RSH SR AHW AR AHP L 2 L 3 L , , ,000 = 1,11,150 = 85,500 = 90, , ,200 = 22,800 = 34,200 = 36, ,550 = 11,400 = 12,000 AR AHP L ,000 = 1,00, ,200 = 42, = 8,000 Page No: 1.1
2 Revised Standard Hours (RSH) Total of AHW = 3,800 hrs. Budgeted Ratio = 65:20:15 Skilled = 2,470 hrs. Semi-skilled = 760 hrs. Un-skilled = 570 hrs. Budgeted Hours Per Unit of Output Budgeted hours Output Skilled Semi-skilled Un-skilled Total 2,000 units = 2,600 hrs = 800 hrs = 600 hrs. 4,000 hrs. 1 unit 1.3 hrs. 0.4 hr. 0.3 hr. 2 hrs. SHAO = Actual Output Budgeted hours per unit Skilled 1, = 2,340 hrs. Semi-skilled 1, = 720 hrs. Un-skilled 1, = 540 hrs. Computation of Labour Cost Variances DLCV DLRV ITV DLEV DLMV DLYV Worker (L 1 L 5 ) (L 4 L 5 ) (L 3 L 4 ) (L 1 L 3 ) (L 2 L 3 ) (L 1 L 2 ) Skilled ` 5,300 (F) ` 10,000 (A) ` 4,500 (A) ` 19,800 (F) ` 25,650 (F) ` 5,850 (A) Semi-skilled ` 20,400 (A) ` 6,000 (A) ` 1,800 (A) ` 12,600 (A) ` 11,400 (A) ` 1,200 (A) Un-skilled ` 100 (F) ` 4,000 (F) ` 600 (A) ` 3,300 (A) ` 2,850 (A) ` 540 (A) ` 15,000 (A) ` 12,000 (A) ` 6,900 (A) ` 3,900 (F) ` 11,400 (F) ` 7,500 (A) Alternative Method of Calculating DLYV DLYV = (Standard cost per unit) (Actual Output Expected Output in Actual Input) ` 1,35, 000 3,800 hrs. = 1,800 Units - 1,800 Units = (` 75 p.u.) (1.800 Units 1,900 Units) = ` 7,500 (A) 2 hrs. p.u. Answer to Q 4 (May, 2012) Basic Calculations:- Standard OH Rate Per Unit ` 20 1) Time taken to produce per unit = = = 5 hrs. Standard OH Rate Per Hour ` 4 2) Segregation of semi-variable cost into Variable and Fixed Cost Difference in Total Cost ` 2,10,000 - ` 1,80,000 Variable Cost per unit = = Difference in Units 10,000 Units - 8,000 Units Fixed cost per unit = ` 20 per unit ` 15 per unit = ` 5 per unit. 3) Overhead Rate per hour ` 15 per unit Variable cost = = ` 3 per hour ` 5 hrs. per unit ` 5 per unit Fixed cost = = ` 1 per hour ` 5 hrs. per unit Computation of Variable Overheads Variances Output Absorbed VO Input Absorbed VO Actual VO VO 1 VO 2 VO 3 ` 2,33,400 ` 2,22,000 ` 2,32,500 = ` 15 per unit Page No: 1.2
3 VO 3 = ` 2,95,000 ` 62,500 = ` 2,32,500 VO 2 = Actual Hours Budgeted VO/hr. = 74,000 hrs. ` 3/hr. = ` 2,22,000 VO 1 SHAO Budgeted VO/hr. = (15,560 Units 5 hrs. p.u.) (` 3/hr.) = ` 2,33,400 VO Cost Variance = VO 1 VO 3 = 2,33,400 2,32,500 = ` 900 (F) VO Expenditure Variance = VO 2 VO 3 = 2,22,000 2,32,500 = ` 10,500 (A) VO Efficiency Variance = VO 1 VO 2 = 2,33,400 2,22,000 = ` 11,400 (F) Computation of Fixed Overheads Variances Output Absorbed FO Input Absorbed FO Budgeted FO Actual FO FO 1 FO 2 FO 3 FO 4 ` 77,800 ` 74,000 ` 75,000 ` 62,500 FO 3 = Budgeted Output Budgeted FO/unit = 15,000 unit ` 5 p.u. = ` 75,000 FO 2 = Actual Hours Budgeted FO/hr. = 74,000 hrs. ` 1/hr. = ` 74,000 FO 1 = SHAO Budgeted FO/hr. = (15,560 Units 5 hrs. p.u.) (` 1/hr.) = ` 77,800 FO Cost Variance = FO 1 FO 4 = 77,800 62,500 = ` 15,300 (F) FO Expenditure Variance = FO 3 FO 4 = 75,000 62,500 = ` 12,500 (F) FO Volume Variance = FO 1 FO 3 = 77,800 75,000 = ` 2,800 (F) FO Efficiency Variance = FO 1 FO 2 = 77,800 74,000 = ` 3,800 (F) FO Capacity Variance = FO 2 FO 3 = 74,000 75,000 = ` 1,000 (A) Answer to Q 5 (Nov, 2009) Material Cost Variances:- SP SQAO SP AQ AP AQ M 1 M 2 M 3 ` 4 21,600 kgs. ` 4 22,800 kgs. ` ,800 kgs. = ` 86,400 = ` 91,200 = ` 1,00,320 SQAO = 2,160 Units 10 kgs. p.u. = 21,600 kgs. DMCV = M 1 M 3 = 86,400 1,00,320 = ` 13,920 (A) DMUV = M 1 M 2 = 86,400 91,200 = ` 4,800 (A) DMPV = M 2 M 3 = 91,200 1,00,320 = ` 9,120 (A) ` 1,05,600 Actual Price of Raw Material = =` 4.4/kg. 24,000 kgs. Labour Cost Variances SR SHAO SR AH AR AH L 1 L 2 L 3 ` 4 5,400 hrs. ` 4 5,940 hrs. ` 5 5,940 hrs. = ` 21,600 = ` 23,760 = ` 29,700 ` 29,700 Actual Wage Rate = =` 5/hr. 5,940 hrs. SHAO = 2,160 Units 2.5 hrs. per unit = 5,400 hrs. DLCV = L 1 L 3 = 21,600 29,700 = ` 8,100 (A) DLEV = L 1 L 2 = 21,600 23,760 = ` 2,160 (A) DLRV = L 2 L 3 =23,760 29,700 = ` 5,940 (A) Page No: 1.3
4 Answer to Q 6 (Nov, 2007 ) 1) Material Cost Variances:- SP SQAO SP AQ AP AQ M 1 M 2 M 3 ` ,04,800 kgs. ` ,05,600 kgs. ` ,05,600 kgs. = ` 8,60,160 = ` 8,63,520 = ` 9,25,200 SQAO = 40,960 units 5 kgs. p.u. = 2,04,800 kgs. DMCV = M 1 M 3 = 8,60,160 9,25,200 = ` 65,040 (A) DMUV = M 1 M 2 = 8,60,160 8,63,520 = ` 3,360 (A) DMPV = M 2 M 3 = 8,63,520 9,25,200 = ` 61,680 (A) Labour Cost Variances SR SHAO SR AH AR AH L 1 L 2 L 3 ` 3 1,22,880 hrs. ` 3 1,21,200 hrs. ` 3,87,840 = ` 3,68,640 = ` 3,63,600 SHAO = 40,960 Units 3 hrs. p.u. = 1,22,880 hrs. DLCV = L 1 L 3 = 3,68,640 3,87,840 = ` 19,200(A) DLEV = L 1 L 2 = 3,68,640 3,63,600 = ` 5,040 (F) DLRV = L 2 L 3 = 3,63,600 3,87,840 = ` 24,240 (A) Total FO Variance = Output Absorbed FO Actual FO = 40,960 Units ` 3.60 p.u. ` 1,00,000 = ` 47,456 (F) Answer to Q 7 (Nov, 2011) (1) Material Cost Variance = Standard Material Cost for Actual Output Actual Material Cost = (4,800 units 10 kgs. per unit ` 10/kg) - ` 5,25,000 = ` 4,80,000 - ` 5,25,000 = ` 45,000 (A) (2) Labour Cost Variance = Standard Labour Cost for Actual Output Actual Labour Cost = (4,800 units 6 hrs. per unit ` 5.5/hr) - ` 1,55,000 = ` 1,58,400 - ` 1,55,000 = ` 3,400 (F) (3) Fixed Overhead Cost Variance = Output Absorbed FO - Actual FO = (SHAO)(Budgeted FO/hr) - Actual FO = (28,800 hrs.)(` 15/hr) - ` 4,70,000 = ` 38,000 (A) SHAO = 4,800 units 6 hrs. per unit = 28,000 hrs. Budgeted FO/hr = ` 4,50,000/30,000 hrs. = ` 15/hr. (4) Variable Overhead Cost Variance = Output Absorbed VO - Actual VO = (28,800 hrs.)(` 10/ hr) - ` 2,93,000 = ` 5,000 (A) Answer to Q 8 (May, 2014) (a) Variable Overheads Cost Variance = Output Absorbed VO Actual VO = (Actual Output) Budgeted VO/Unit) Actual VO ` 12,000 = (3,800 Units) = ` 3 p.u. 4,000 units - ` 12,000 = ` 11,400 ` 12,000 = ` 600 (A) (b) Fixed Overheads Expenditure Variance = Budgeted FO Actual FO = ` 40,000 ` 39,000 = ` 1,000 (F) Page No: 1.4
5 (c) Fixed Overheads Volume Variance = Output Absorbed FO Budgeted FO = ` 38,000 ` 40,000 = ` 2,000 (A) Output Absorbed FO = Actual Output Budgeted FO/Unit ` 40,000 = (3,800 Units) = `10 p.u. 4,000 units = ` 38,000 Answer to Q 9 (Nov, 2010) Total Sales Variances = Actual Sales - Budgeted Sales P = (4,800 units)(` 30 per unit) - (4,000 units)(` 25 per unit) = ` 44,000 (F) Q = (2,800 units)(` 45 per unit) - (3,000 units)(` 50 per unit) = ` 24,000 (A) R = (2,400 units)(` 70 per unit) - (2,000 units)(` 75 per unit) = ` 18,000 (F) S = (800 units)(` 105 per unit) - (1,000 units)(` 100 per unit) = ` 16,000 (A) = ` 22,000 (F) Sales Price Variances = (Actual Selling Price Budgeted Selling Price) (Actual Quantity Sold) P = (` 30 - ` 25)(4,800 units) = ` 24,000 (F) Q = (` 45 - ` 50)(2,800 units) = ` 14,000 (A) R = (` 70 - ` 75)(2,400 units) = ` 12,000 (A) S = (` ` 100)(800 units) = ` 4,000 (F) = ` 2,000 (F) Sales Volume Variances = (Budgeted Price) (Actual Quantity - Budgeted Quantity) P = (` 25 per unit)(4,800 units - 4,000 units) = ` 20,000 (F) Q = (` 50 per unit)(2,800 units - 3,000 units) = ` 10,000 (A) R = (` 75 per unit)(2,400 units - 2,000 units) = ` 30,000 (F) S = (` 100 per unit)(800 units - 1,000 units) = ` 20,000 (A) = ` 20,000 (F) Answer to Q 10 (Nov, 2013) Material Cost Variances:- SP SQAO SP AQ AP AQ M 1 M 2 M 3 ` 45 9,000 kgs. = ` 4,05,000 ` 45 8,900 kgs. = ` 4,00,500 ` 46 8,900 kgs. = ` 4,09,400 SQAO = Actual Output Budgeted input per unit = 900 packets 10 kgs. per packet = 9,000 kgs. DMCV = M 1 M 3 = ` 4,05,000 `4,09,400 = ` 4,400 (A) DMUV = M 1 M 2 = ` 4,05,000 `4,00,500 = ` 4,500 (F) DMPV = M 2 M 3 = ` 4,00,500 `4,09,400 = ` 8,900 (A) Labour Cost Variances SR SHAO SR AH AR AH L 1 L 2 L 3 ` 50 7,200 hrs. ` 50 7,000 hrs. ` 52 7,000 hrs. = ` 3,60,000 = ` 3,50,000 = ` 3,64,000 SHAO = Actual Output Budgeted input per unit = 900 packets 8 hrs. per unit = 7,200 hrs. DLCV = L 1 L 3 = ` 3,60,000 ` 3,64,000 = ` 4,000(A) DLEV = L 1 L 2 = ` 3,60,000 ` 3,50,000 = ` 10,000 (F) DLRV = L 2 L 3 = ` 3,50,000 ` 3,64,000 = ` 14,000 (A) Variable Overhead Cost Variance = Output Absorbed VO Actual VO = (900 packets)(` 80/packet) - ` 72,500 = ` 500 (A) Fixed Overhead Cost Variance = Output Absorbed FO Actual FO = (900 packets)(` 200/packet) - ` 1,92,000 = ` 12,000 (A) Page No: 1.5
6 Answer to Q.11 (May, 2012) Annual Production Budget Annual budget sales (18, , , ,000) 92,000 units (+) Closing Stock of Finished Goods 8,000 units (-) Opening Stock of Finished Goods (-) 6,000 units Annual budgeted production 94,000 units Quarter Wise Production Budget Budgeted Production Quarter 70% of Sales of Current Quarter 30% of Sales of Next Quarter Total I 70% of 18,000 units 30% of 22,000 units = 12,600 units = 6,600 units 19,200 units II 70% of 22,000 units 30% of 25,000 units = 15,400 units = 7,500 units 22,900 units III 70% of 25,000 units 30 % of 27,000 units = 17,500 units 8,100 units 25,600 units IV 70% of 27,000 units 7,400 units 26,300 units = 18,900 units (Balancing Figure) (Balancing Figure) Annual Budgeted Production 94,000 units Answer to Q.12 (RTP) Production Budget (in Units) Particulars Product A Product B Budgeted Sales (4 5 = 20 working days) 2,400 3,600 (+) Closing Stock of finished goods 4 2, = 480 3, = 900 (-) Opening Stock of finished goods Budgeted Production 2,480 4,300 Raw Material Purchase Budget Particulars Material X Material Y Budgeted Consumption Product A 2,480 5 = 12,400 kgs. 2,480 4 = 9,920 kgs. Product B 4,300 3 = 12,900 kgs. 4,300 6 = 25,800 kgs 25,300 kgs. 35,720 kgs. (+) Closing Stock of Raw Material 25, = 12,650 kgs. 35,720 = 10,716 kgs (-) Opening Stock of Raw Material (-) 1,000 kgs. (-) 500 kgs. Budgeted Purchase 36,950 kgs. 45,936 kgs. Rate per kg. ` 4 ` 6 Total Purchase cost ` 1,47,800 ` 2,75,616 Labour Cost Budget Total hours Rate/hr. Total Wages Normal Time 28,800 ` 25 ` 7,20,000 Over Time 14,610 ` ` 5,47,875 43,410 ` 12,67,875 Normal Time = 180 workers 4 weeks 40 hrs. /week = 28,800 hrs. Efficiency Ratio = 80% Page No: 1.6
7 Standard hrs. for Output Obtained Actual Hours Worked 100 = 80 Actual hours worked = Standard hrs. for Output Obtained A 2,480 3 hrs. p.u. = B 4,300 5 hrs. p.u. 100 = 36,175 hrs. 80 Actual Hrs. Paid = Actual hrs. Worked + Idle Time = 36,175 hrs. + 20% of 36,175 hrs. = 43,410 hrs Answer to Q.13 (May, 2013) Flexible Budget Particulars 20,000 units 15,000 units 18,000 units Variable Expenses Direct Materials (` 50 p.u.) 10,00,000 7,50,000 9,00,000 Direct Labour (` 20, p.u.) 4,00,000 3,00,000 3,60,000 Variable Overhead (` 15 p.u.) 3,00,000 2,25,000 2,70,000 Direct Expenses (` 6 p.u.) 1,20,000 90,000 1,08,000 Variable Selling Expenses (80% of ` 15 = ` 12 p.u.) 2,40,000 1,80,000 2,16,000 Variable Distribution Expenses (85% of ` 12 = ` p.u.) 2,04,000 1,53,000 1,83,600 Total Variable Expenses 22,64,000 16,98,000 20,37,600 Fixed Expenses Fixed Selling Expenses 60,000 60,000 60,000 Fixed Factory Expenses 1,40,000 1,40,000 1,40,000 Fixed Admin. Expenses 80,000 80,000 80,000 Fixed Distribution Expenses 36,000 36,000 36,000 Total Fixed Expenses 3,16,000 3,16,000 3,16,000 Total Cost 25,80,000 20,14,000 23,53,600 Answer to Q.14 (May, 2002) Flexible Budget Particulars Present Situation Proposed Situation Proposal 1 Proposal 2 Sales Quantity 2,50,000 units 4,00,000 units 5,00,000 units Variable Expenses Direct Materials (` 5 p.u.) 12,50,000 20,00,000 24,75,000 (5,00, ) Direct Labour 2,50,000 2 = 5,00,000 4,00,000 2 = 8,00,000 5,00,000 2 = 10,00,000 Variable Production OH 2,50,000 3 = 7,50,000 4,00,000 3 = 12,00,000 5,00,000 3 = 15,00,000 Variable Selling OH 2,50,000 1 = 2,50,000 4,00,000 1 = 4,00,000 5,00, = 5,25,000 Total Variable Expenses 27,50,000 44,00,000 55,00,000 Fixed Expenses Fixed Production Overheads 9,00,000 13,00,000 15,00,000 Fixed Selling Overheads 6,00,000 8,00,000 6,00,000 Total Fixed Expenses 15,00,000 21,00,000 21,00,000 Total Cost 42,50,000 65,00,000 76,00,000 Profit (Balance) 2,50,000 7,00,000 4,00,000 Sales 45,00,000 (2,50,000 18) 72,00,000 (4,00,000 18) 80,00,000 (5,00,000 16) Page No: 1.7
8 Answer to Q 15 (May, 2009) Production Budget (in units) Particulars January February March April Budgeted Sales 10,000 12,000 14,000 15,000 (+) Closing Stock of Finished Goods 2,400 2,800 3,000 3,000 (20% of next month sales) (-) Opening Stock of Finished Goods (2,700) (2,400) (2,800) (3,000) Budgeted Production 9,700 12,400 14,200 15,000 Raw Material Consumption Budget Particulars January February March April Budgeted Production (Units) 9,700 12,400 14,200 15,000 Budgeted Consumption Material X [4 kgs. per unit] 38,800 kgs. 49,600 kgs. 56,800 kgs. 60,000 kgs. Material Y [6 kgs. per unit] 58,200 kgs. 74,400 kgs. 85,200 kgs. 90,000 kgs. Raw Material Purchase Budget January February March Raw Material X Budgeted Consumption 38,800 kgs. 49,600 kgs. 56,800 kgs. (+) Closing Stock of Raw Material 24,800 kgs. 28,400 kgs. 30,000 kgs. (50% of next month consumption) (-) Opening stock of Raw Material 19,000 kgs. 24,800 kgs. 24,800 kgs. Budgeted Purchase 44,600 kgs. 53,200 kgs. 58,400 kgs. Raw Material Y Budgeted Consumption 58,200 kgs. 74,400 kgs. 85,200 kgs. (+) Closing Stock of Raw Material 37,200 kgs. 42,600 kgs. 45,000 kgs. (50% of next month consumption) (-) Opening stock of Raw Material 29,000 kgs. 37,200 kgs. 42,600 kgs. Budgeted Purchases 66,400 kgs. 79,800 kgs. 87,600 kgs. Material Cost Variances DMCV = (SP)(SQAO) (AP)(AQ) X = (` 10) (1,60,000 kgs.) (` 10.20)(1,65,000 kgs.)= ` 83,000 (A) Y = (` 15) (2,40,000 kgs.) (` 15.10)(2,38,000 kgs.)= ` 6,200 (F) ` 76,800 (A) DMPV = (SP AP) (AQ) X = (` 10 ` 10.20) (1,65,000 kgs.) = ` 33,000 (A) Y = (` 15 ` 15.10) (2,38,000 kgs.) = ` 23,800 (A) ` 56,800 (A) DMUP (SP) (SQAO - AQ) X = (` 10) (1,60,000 kgs. 1,65,000 kgs.) = ` 50,000 (A) Y = (` 15) (2,40,000 kgs. 2,38,000 kgs.) = ` 30,000 (F) ` 20,000 (A) SQAO = Actual Output Budgeted Input per unit X = 40,000 units 4 kgs. p.u. = 1,60,000 kgs. Y = 40,000 units 6 kgs. p.u. = 2,40,000 kgs. Page No: 1.8
9 Labour Cost Variances Basic Calculations (a) Budgeted Labour Cost for Quarter (January to March)= ` 10,89,000 (b) Budgeted Production (January to March) = 9, , ,200 = 36,300 units (c) Budgeted Labour Hours = 36,300 units 3 4 hr. per unit = 27,225 hours ` 10,89,000 (d) Budgeted Wage Rate per hour = = ` 40 /hr. 27,225 hrs. ` 13,12,000 (e) Actual Rate Per hour = = ` 41/hr 32,000 hrs. DLCV = (SR)(SHAO) (AR)(AH) = (` 40) (30,000 hrs.) (` 41) (32,000 hrs.) = ` 12,00,000 ` 13,12,000 = ` 1,12,000 (A) DLRV = (SR AR)(AH) = (` 40 ` 41) (` 32,000 hrs.) = ` 32,000 (A) DLEV = (SR)(SHAO AH) = (` 40) (30,000 hrs. 32,000 hrs.) = ` 80,000 (A) SHAO = 40,000 units 3 4 hr. per unit = 30,000 hrs. Answer to Q 16 (Nov, 2007) Efficiency Ratio = Standard hrs. for Output Obtained x 100 Actual hours Worked Capacity Ratio = Actual Hours Worked x 100 Budgeted Hours 60 Units x 8 hrs. p.u. = x 100 = 96% 500 hrs. 500 hrs. = x 100 = % 80 Units x 8 hrs. p.u. Page No: 1.9
Standard Costing and Budgetary Control
Standard Costing and Budgetary Control CA Past Years Exam Questions Question : 1 (Nov, 2008) UV Limited presents the following information for November. Calculate the cost Variances. Budgeted production
More informationSTANDARD COSTING. Samir K Mahajan
STANDARD COSTING Samir K Mahajan Standard Costing Historical costs: Historical costing or actual costing is a system where costs are ascertained after they are incurred. It is a post-mortem of the costs.
More informationSTANDARD COSTING. Samir K Mahajan
STANDARD COSTING Samir K Mahajan Standard Costing Historical costs: Historical costing or actual costing is a system where costs are ascertained after they are incurred. It is a post-mortem of the costs.
More informationVARIANCE ANALYSIS: ILLUSTRATION
VARIANCE ANALYSIS: ILLUSTRATION The following information relates to the production of product Alpha for the month of August Standard Cost Card Budgeted production overhead based on 10,000 units $ $ Selling
More informationCosting Group 1 Important Questions for IPCC November 2017 (Chapters 10 12)
Costing Group 1 Important Questions for IPCC November 2017 (Chapters 10 12) CHAPTER 10 STANDARD COSTING 1. The standard material cost for a normal mix of one tonne of product Captain based on: Raw Material
More informationINTER CA MAY COSTING Topic: Standard Costing, Budgetary Control, Integral and Non Integral, Materials, Marginal Costing.
INTER CA MAY 218 COSTING Topic: Standard Costing, Budgetary Control, Integral and Non Integral, Materials, Marginal Costing. Note: All questions are compulsory. Test Code M33 Branch: MULTIPLE Date: 21.1.218
More informationAFM481 - Advanced Cost Accounting Professor Grant Russell Final Exam Material Chapter 11 & 13. Chapter 11: Standard Costs and Variance Analysis
AFM481 - Advanced Cost Accounting Professor Grant Russell Final Exam Material Chapter 11 & 13 Chapter 11: Standard Costs and Variance Analysis Variance Analysis: calculating variances and investigating
More informationCONCEPTS AND FORMULAE
CHAPTER 6 Standard Costing Basic Concepts 6.1 Meaning of Variance Analysis BASIC CONCEPTS AND FORMULAE Variance analysis is the analysis of the cost variances into its component parts with appropriate
More informationBudget & Budgetary Control
4 Budget & Budgetary Control Question 1 A Company manufactures two Products A and B by making use of two types of materials, viz., X and Y. Product A requires 10 units of X and 3 units of Y. Product B
More informationStandard Cost System Practice Problems
When setting up a standard cost system, the concepts of standards in material, labor, and overhead must be explored in a simple manner to start the process. Practice Standard Cost Variances: Simple Example
More informationYou were introduced to Standard Costing in the earlier stages of your studies in which you understood the following;
6 Standard Costing LEARNING OBJECTIVES : After studying this unit you will be able to : Understand terms as standard Cost, standard Costing, standard Hour Understand how a standard costing system operates
More informationPurushottam Sir. Formulas of Costing
Purushottam Sir Formulas of Costing Material Maximum Stock Level= Re-order level + Re-order quantity (Minimum consumption Minimum reorder period) Minimum Stock Level= Re-order level (Average lead time
More informationHOMEWORK. 1,40,000 20,000 (4,20,000 4,00,000) = 84,000 (F) WN 2: Calculation of effect on profit due to increase in market share
A.1. A.2. HOMEWORK WN 1: Calculation of effect on the profit due to market size Increasein profitduetogrowth = Growth in unitsdueto size increase Growth in units(total) 1,40,000 = 12,000(4,00,0003%) 20,000
More informationMultiple Choice Questions
Multiple Choice Questions 1. The difference between the actual price and the standard price, multiplied by the actual quantity of materials purchased is the a) direct labor price variance b) direct labor
More informationSUGGESTED SOLUTION INTERMEDIATE N 2018 EXAM
SUGGESTED SOLUTION INTERMEDIATE N 2018 EXAM SUBJECT- COSTING Test Code CIN 5013 Date: 02.09.2018 Head Office : Shraddha, 3 rd Floor, Near Chinai College, Andheri (E), Mumbai 69. Tel : (022) 26836666 ANSWER-1
More informationb Multiple Choice Questions: 1 The scarce factor of production is known as: d a) Key factor b) Limiting factor c) Critical factor d) All of the above
Q.1 a State whether True or False: [Any 8] 1 Functional Budget is a Budget which is established for use over a short period of time. FALSE 2 Total Fixed cost remains constant irrespective of change in
More informationTOPPER S INSTITUTE [COSTING] RTP 16 TOPPER S INSTITUE CA INTER COST MGT. ACCOUNTING - RTP
TOPPER S INSTITUTE [COSTING] RTP 16 TOPPER S INSTITUE CA INTER COST MGT. ACCOUNTING - RTP Q1. is compulsory, Attempt any Five questions from the remaining Six questions Working Notes should form part of
More informationAdd: manufacturing overhead costs in inventory under absorption costing +27,000 Net operating income under absorption costing $4,727,000
THE HONG KONG POLYTECHNIC UNIVERSITY HONG KONG COMMUNITY COLLEGE Subject Title : Cost Accounting Subject Code : CCN2111 Session : Semester One, 2018/19 Numerical Answer Question B1 Required production
More informationFree of Cost ISBN : Scanner Appendix. CS Executive Programme Module - I December Paper - 2 : Cost and Management Accounting
Free of Cost ISBN : 978-93-5034-831-4 Solved Scanner Appendix CS Executive Programme Module - I December - 2013 Paper - 2 : Cost and Management Accounting Chapter - 1: Introduction to Cost and Management
More informationMISC QUESTIONS FOR STUDENTS
MISC QUESTIONS FOR STUDENTS Question 1: Lee Electronics manufactures four types of electronic products A, B, C and D. All these products have a good demand in the market. The following figures are given
More informationGurukripa s Guideline Answers to Nov 2016 Exam Questions CA Inter (IPC) Cost Accounting & Financial Management Working Notes should form part of the answers. Question No.1 is compulsory (4 5 20 Marks).
More informationAnalysing cost and revenues
Osborne Books Tutor Zone Analysing cost and revenues Chapter activities answers Osborne Books Limited, 2013 2 a n a l y s i n g c o s t s a n d r e v e n u e s t u t o r z o n e 1 An introduction to cost
More informationUnit Costing & Reconciliation
Unit Costing & Reconciliation Answer to Q.1: (Nov, 2003) CA Past Years Exam Answer (i) Closing stock of finished goods Sales Gross profit = Cost of goods sold available closing stock of finished goods
More informationBoth Isitya and Ikopi renders more net profit after further processing and should therefore be processed further.
OCT/NOV MAC2601 1.1 C Units purchased: 1 200 units Purchase price R6.80 Freight charges 0.68 Total 7.48 Value is therefore equal to 1200 units*7.48=r8 976 1.2 B 1.3 B 200 000 / 40 000 = R5 per machine
More informationTrainee Accountant Webinar. F2 Management Accounting. Variance Analysis
Trainee Accountant Webinar F2 Management Accounting Variance Analysis Presented By: Rosemarie Kelly, Examiner CPA Ireland Skillnet CPA Ireland Skillnet, is a training network that is funded by Skillnets,
More informationACCA. Paper F2 and FMA. Management Accounting December 2014 to June Interim Assessment Answers
ACCA Paper F2 and FMA Management Accounting December 204 to June 205 Interim Assessment Answers To gain maximum benefit, do not refer to these answers until you have completed the interim assessment questions
More informationTHE HONG KONG POLYTECHNIC UNIVERSITY HONG KONG COMMUNITY COLLEGE
THE HONG KONG POLYTECHNIC UNIVERSITY HONG KONG COMMUNITY COLLEGE Subject Title : Cost Accounting Subject Code : CCN2111 Session : Semester Two, 2017/18 Numerical answers Question B1 (a) The company's DL
More informationParticulars VIP Middle Last = = % of 60 = 30
Ans. 1: 1. Basic Computations Less: Less: Gross Seats Free Seats Net Saleable Seats Particulars VIP Middle Last Firm Booking by Troupe 3 3 = 9 1 3 = 3 6 5% of 6 = 3 18 2 = 36 Nil 36 5% of 36 = 18 6 3 =
More information9706 ACCOUNTING. Mark schemes should be read in conjunction with the question paper and the Principal Examiner Report for Teachers.
CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced Level MARK SCHEME for the May/June 2013 series 9706 ACCOUNTING 9706/43 Paper 4 (Problem Solving Supplement), maximum raw mark 120 This mark scheme is published
More informationACC406 Tip Sheet. Direct Labour (DL): labour that is directly attributable to the goods and service that are being produced by a firm.
ACC406 Tip Sheet Definitions Direct Cost: a cost that can be easily allocated to a certain object. Variable Cost (VC): a cost that changes in direct relation to output (output increases VC increases) Fixed
More information1,40,000 units ( 1,26,00,000 / 90)
C.A. FINAL Solution to Q. 1 (i) Statement of the Number of Units of the Product Proposed to be Sold (ii) Selling Price per unit 90 Total Sales Revenue 1,26,00,000 Number of Units of the Product (proposed
More informationICAN MID DIET LIVE CLASS FOR MAY DIET 2015 PERFORMANCE MANAGEMENT
ICAN MID DIET LIVE CLASS FOR MAY DIET 2015 PERFORMANCE MANAGEMENT PERFORMANCE MEASUREMENT NON- FINANCIAL MEASUREMENT PERFOMANCE MEASUREMENT OF A NON- PROFIT ORGANISATION DIVISIONAL PERFORMANCE MEASURE
More informationIntroduction and Meaning Concept Advantages & Limitations Objectives of Standard Costing Preliminary Establishment Types of Standard
Standard Costing Introduction and Meaning Concept Advantages & Limitations Objectives of Standard Costing Preliminary Establishment Types of Standard Differences Standard Cost Card/Sheet Meaning of Analysis
More informationSolved Answer COST & F.M. CA IPCC Nov
Solved Answer COST & F.M. CA IPCC Nov. 2009 1 1. Answer any five of the following : [5x2=10 marks] (i) Define the following : (a) Imputed cost (b) Capitalised cost. (ii) Calculate efficiency, and activity
More informationSAPAN PARIKH COMMERCE CLASSES
CHAPTER WISE BOARD QUESTION PAPER MARGINAL COSTING MARGINAL COSTING - CVP Q.1. A Company produces and sells a single article at `10 each. The marginal cost of production is `6 each and fixed cost is `400
More informationMTP_ Inter _Syllabus 2016_ Dec 2017_Set 2 Paper 10 Cost & Management Accounting and Financial Management
Paper 10 Cost & Management Accounting and Financial Management Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 10 Cost & Management
More informationFlexible Budgets and Standard Costing QUESTIONS
Chapter 21 Flexible Budgets and Standard Costing QUESTIONS 1. Fixed budget performance reports have limited usefulness because they do not reflect differences in revenues and variable costs that can occur
More informationCA Final Gr. II Paper - 5 (Solution of November ) Paper - 5 : Advance Management Accounting
Solved Scanner Appendix CA Final Gr. II Paper - 5 (Solution of November - 2015) Paper - 5 : Advance Management Accounting Chapter - 1 : Developments in the Business Environment 2015 - Nov [1] {C} (b) Costs
More informationWrite your answers in blue or black ink/ballpoint. Pencil may be used only for graphs, charts, diagrams, etc.
Series 3 Examination 2008 COST ACCOUNTING Level 3 Friday 6 June Subject Code: 3016 Time allowed: 3 hours INSTRUCTIONS FOR CANDIDATES Answer 5 questions. All questions carry equal marks. Write your answers
More informationPAPER 10- COST & MANAGEMENT ACCOUNTANCY
PAPER 10- COST & MANAGEMENT ACCOUNTANCY Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 10 - Cost & Management Accountancy Full
More informationACC406 Tip Sheet. 1) Planning: It is the process of creating a set of plans that a company intends to achieve a particular goal.
ACC406 Tip Sheet Chapter 1 Managerial Accounting: It is simply the process of reporting accounting information for a company s internal users such as managers, sales staff and etc. for decision making.
More informationPESIT Bangalore South Campus Hosur road, 1km before Electronic City, Bengaluru -100
INTERNAL ASSESSMENT TEST 3 Date : 09/11/2016 Max Marks : 50 Subject & Code : Cost Management (14MBAFM305) Section : Finance Name of faculty : Dr.R.Duraipandian Time: 8:30 10:00 AM Note: Answer all questions
More informationSolution to Cost Paper of CA IPCC COST MAY Solution to Question 1 (a) 10% = Avg. No. of workers on roll = 500
Solution to Cost Paper of CA IPCC COST MAY 2017 Solution to Question 1 (a) Average no. of workers on roll during the year No.of replacements 1. Labour turnover rate under replacement method = x 100 Average
More informationStandard Costs and Variances
10-1 Standard Costs and Variances Chapter 10 10-2 Standard Costs Standards are benchmarks or norms for measuring performance. In managerial accounting, two types of standards are commonly used. Quantity
More informationMID TERM EXAMINATION Spring 2010 MGT402- Cost and Management Accounting (Session - 2) Time: 60 min Marks: 47
MID TERM EXAMINATION Spring 2010 MGT402- Cost and Management Accounting (Session - 2) Time: 60 min Marks: 47 Question No: 1 ( Marks: 1 ) - Please choose one Which of the following product cost is Included
More informationPreparing and using budgets
Osborne Books Tutor Zone Preparing and using budgets Chapter activities Osborne Books Limited, 2013 2 p r e p a r i n g a n d u s i n g b u d g e t s t u t o r z o n e 1 The budgeting environment 1.1 Match
More information10,000 units x 24 = 240,000, or 5,000 hours x 48 = 240,000. the actual price of materials per kilogram
NVQ/SVQ Level 4 in Accounting Contributing to the Management of Performance and Enhancement of Value (PEV) (2003 standards) June 2006 SUGGESTED ANSWERS Note: The suggested answers may, in parts, be longer
More informationSolved Answer Cost & F.M. CA Pcc & Ipcc May
Solved Answer Cost & F.M. CA Pcc & Ipcc May. 2010 1 Qn. 1 (i) What is Cost accounting? Enumerate its important objectives. [ 2 marks ] Ans. 1 (i) Cost Accounting :- CIMA defines cost accounting as the
More informationCost Accounting. Level 3. Model Answers. Series (Code 3016) 1 ASE /2/06
Cost Accounting Level 3 Model Answers Series 2 2006 (Code 3016) 1 ASE 3016 2 06 1 3016/2/06 >f0t@w9w2`?[6zbkbwgc# Cost Accounting Level 3 Series 2 2006 How to use this booklet Model Answers have been developed
More informationTHE MOMBASA POLYTECHNIC UNIVERSITY COLLEGE
THE MOMBASA POLYTECHNIC UNIVERSITY COLLEGE Faculty of Business & Social Studies DEPARTMENT OF BUSINESS STUDIES BACHELOR OF BUSINESS ADMINISTRATION HBC 2117: COST ACCOUNTING BBA 2 ND YEAR 1 ST SEMESTER
More informationPAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT PART-I: COST ACCOUNTING QUESTIONS
Material PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT PART-I: COST ACCOUNTING QUESTIONS 1. Banerjee Brothers (BB) supplies surgical gloves to nursing homes and polyclinics in the city. These surgical
More informationSHAKYAMUNI ACADEMY for CA,SR Nagar,HYD-38,Ph No:
1 (a). Answer i. EQA= = =8000 units Where A=60000, B=800, C=10*15%=1.5 ii. Re order level=safety stock +lead time consumption=600+2000=2600units Where lead time consumption=10days*average consumption per
More informationSuggested Answer_Syl12_Dec2014_Paper_8 INTERMEDIATE EXAMINATION GROUP I (SYLLABUS 2012)
INTERMEDIATE EXAMINATION GROUP I (SYLLABUS 2012) SUGGESTED ANSWERS TO QUESTIONS DECEMBER 2014 Paper-8: COST ACCOUNTING AND FINANCIAL MANAGEMENT Time Allowed : 3 Hours Full Marks : 100 The figures in the
More informationAnswer to MTP_Intermediate_Syllabus 2012_Jun2017_Set 1 Paper 8- Cost Accounting & Financial Management
Paper 8- Cost Accounting & Financial Management Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper-8: Cost Accounting & Financial
More informationMANAGEMENT ACCOUNTING REVISION CLASS
MANAGEMENT ACCOUNTING REVISION CLASS Section 1. (DAY3) STANDARD COSTING Definition of standard costing Types of standard costing Importance of standard costing Variance analysis Control ratio in standard
More informationModule 3 Introduction
Module 3 Introduction Module 3 Introduction This module is designed to further enhance knowledge about management accounting techniques. In particular, the student is introduced to the role of budgeting,
More informationCode No. : Sub. Code : R 3 BA 52/ B 3 BA 52
(8 pages) Reg. No. :... Sub. Code : R 3 BA 52/ B 3 BA 52 B.B.A. (CBCS) DEGREE EXAMINATION, NOVEMBER 2014. Fifth Semester Business Administration Main MANAGEMENT ACCOUNTING (For those who joined in July
More informationFINALTERM EXAMINATION Spring 2010 MGT402- Cost & Management Accounting (Session - 4) Solved by Mehreen Humayun vuzs Team.
FINALTERM EXAMINATION Spring 2010 MGT402- Cost & Management Accounting (Session - 4) Solved by Mehreen Humayun vuzs Team Time: 90 min Marks: 69 Question No: 1 ( Marks: 1 ) - Please choose one Cost of finished
More informationDisclaimer: This resource package is for studying purposes only EDUCATIO N
Disclaimer: This resource package is for studying purposes only EDUCATIO N Chapter 9: Budgeting The Basic Framework of Budgeting Master budget - a summary of a company s plans in which specific targets
More informationINTER CA MAY Test Code M32 Branch: MULTIPLE Date: (50 Marks) Note: All questions are compulsory.
(5 Marks) Note: All questions are compulsory. INTER CA MAY 218 COSTING Topic: Contract Costing, Budgetary Control, Labour, Joint & By- Product, Absorption Costing, Overheads, Integral & Non Integral, Marginal
More informationSTANDARD COSTS AND VARIANCE ANALYSIS
STANDARD COSTS AND VARIANCE ANALYSIS Key Terms and Concepts to Know Static or Planning Budgets Used for planning purposes Prepared at the beginning of the period Based on one projected level of activity
More informationF2 PRACTICE EXAM QUESTIONS
F2 PRACTICE EXAM QUESTIONS SECTION A 1. The following details are available for a company: Budgeted Actual Expenditure $176,400 $250,400 Machine hours 4,000 5,000 Labor hours 3,600 5,400 If the company
More informationMOCK TEST PAPER 2 INTERMEDIATE (IPC): GROUP I PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT SUGGESTED ANSWERS/ HINTS
1. (a) Working notes: MOCK TEST PAPER 2 INTERMEDIATE (IPC): GROUP I Test Series: October, 2015 PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT SUGGESTED ANSWERS/ HINTS 1. (i) Number of units sold at
More informationSAPAN PARIKHCOMMERCE CLASSES
A.1 A Match the following (Any 08) [Rewrite the sentence] GROUP A GROUP B 1) Labour efficiency Variance A) Pre-determined cost 2) Imputed Cost B) Limiting Factor 3) Profit C) No Profit, No Loss stage 4)
More informationBATCH All Batches. DATE: MAXIMUM MARKS: 100 TIMING: 3 Hours. PAPER 3 : Cost Accounting
BATCH All Batches DATE: 25.09.2017 MAXIMUM MARKS: 100 TIMING: 3 Hours PAPER 3 : Cost Accounting Q. No. 1 is compulsory. Wherever necessary suitable assumptions should be made by the candidates. Working
More informationMTP_ Inter _Syllabus 2016_ Dec 2017_Set 2 Paper 10 Cost & Management Accounting and Financial Management
Paper 10 Cost & Management Accounting and Financial Management Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 10 Cost & Management
More informationPAPER 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I : COST ACCOUNTING Answer all questions.
Question 1 (i) (ii) PAPER 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I : COST ACCOUNTING Answer all questions. What is Cost accounting? Enumerate its important objectives. Distinguish between Fixed
More informationLCCI International Qualifications. Cost Accounting Level 3. Model Answers Series (3017)
LCCI International Qualifications Cost Accounting Level 3 Model Answers Series 3 2010 (3017) For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk Cost
More informationWrite your answers in blue or black ink/ballpoint. Pencil may be used only for graphs, charts, diagrams, etc.
Series 4 Examination 2008 COST ACCOUNTING Level 3 Tuesday 11 November Subject Code: 3016 Time allowed: 3 hours INSTRUCTIONS FOR CANDIDATES Answer 5 questions. All questions carry equal marks. Write your
More informationSUGGESTED SOLUTION IPCC MAY 2017EXAM. Test Code - I M J
SUGGESTED SOLUTION IPCC MAY 2017EXAM COSTING Test Code - I M J 7 1 3 5 BRANCH - (MULTIPLE) (Date : 01.01.2017) Head Office : Shraddha, 3 rd Floor, Near Chinai College, Andheri (E), Mumbai 69. Tel : (022)
More informationMANAGEMENT ACCOUNTING 2. Module Code: ACCT08004
School of Business & Enterprise Paisley & Hamilton Campus Session 015-016 Trimester 1 MANAGEMENT ACCOUNTING Module Code: ACCT08004 Date: 1st January 016 Time: 1400-1600 Answer THREE questions Question
More informationBudgets and Budgetary Control. By: CA Kapileshwar Bhalla
Budgets and Budgetary Control By: CA Kapileshwar Bhalla Learning Objectives Understand the objectives and importance of budgeting and budgetary control Understand the Advantages and disadvantages of budgetary
More informationPostal Test Paper_P10_Intermediate_Syllabus 2016_Set 1 Paper 10- Cost & Management Accounting And Financial Management
Paper 10- Cost & Management Accounting And Financial Management Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 10 - Cost & Management
More informationPaper 8- Cost Accounting
Paper 8- Cost Accounting Dos, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 8- Cost Accounting Full Marks : 100 Time allowed: 3 hours Section A Question
More informationPostal Test Paper_P8_Intermediate_Syllabus 2016_Set 4 Paper 8- Cost Accounting
Paper 8- Cost Accounting Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 8 - Cost Accounting Full Marks :100 Time allowed: 3 hours
More informationSolution Paper 8 COST AND MANAGEMENT ACCOUNTING June Chapter 2 Material
2013 - June [7] (a) Date Receipts Qty (Units) May 2013 1 Opening Balance Solution Paper 8 COST AND MANAGEMENT ACCOUNTING June - 2013 Chapter 2 Material Rate FIFO Method Issue Qty. (Units) Rate Issue LIFO
More informationLCCI International Qualifications. Cost Accounting Level 3. Model Answers Series (3017)
LCCI International Qualifications Cost Accounting Level 3 Model Answers Series 2 2012 (3017) For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk Cost
More informationGurukripa s Guideline Answers to Nov 2011 Final Exam Questions Advanced Management Accounting
Gurukripa s Guideline Answers to Nov 2011 Final Exam Questions Advanced Management Accounting Question No.1 is compulsory (4 X 5 = 20 Marks). Answer any five questions from the remaining six questions
More informationPAPER 5 : ADVANCED MANAGEMENT ACCOUNTING
Question 1 (a) PAPER 5 : ADVANCED MANAGEMENT ACCOUNTING Question Nos. 1 is compulsory. Answer any five questions from the rest. Working notes should form part of the answer. XYZ Ltd. has two divisions,
More informationAnswer to MTP_Intermediate_ Syllabus 2012_December 2016_Set2. Paper 10- Cost & Management Accountancy
Paper 10- Cost & Management Accountancy Page 1 of 14 Paper 10- Cost & Management Accountancy Full Marks: 100 Time allowed: 3 Hours Section A 1. Answer Question No.1 which is compulsory carrying 5 Marks
More informationLINEAR PROGRAMMING C H A P T E R 7
LINEAR PROGRAMMING C H A P T E R 7 INTRODUCTION In decision making, when there is only one limiting factor (scarce resource), we can rank the products according the contribution per unit of scarce resource.
More informationSYMBIOSIS CENTRE FOR DISTANCE LEARNING (SCDL) Subject: Management Accounting
Sample Questions: Section I: Subjective Questions 1. How does Subsidiary Book help in accounting process? Which subsidiary books are used very frequently? 2. Differentiate between the liabilities and assets.
More informationElements of costing (ELCO) Question and answer book
Elements of costing (ELCO) Question and answer book October 2018 AAT is a registered charity. No. 1050724 Questions Question 1 If the total cost of 3,000 units is 6,750 and the total cost of 3,900 units
More informationTHE INSTITUTE OF CHARTERED ACCOUNTANTS (GHANA) SOLUTION: COST AND MANAGEMENT ACCOUNTING, NOVEMBER, 2014
SOLUTION 1 (a) definition of capital employed - Definition of income (returning) - Where investments are made at different times and getting unrelated representative being difficult (b) Conditions - Top
More informationSUGGESTED SOLUTION FINAL MAY 2014 EXAM
SUGGESTED SOLUTION FINAL MAY 2014 EXAM ADVANCED MANAGEMENT ACCOUNTING Prelims (Test Code - F N J 3 0 5) (Date : 08 April, 2014) Head Office :Shraddha, 3 rd Floor, Near Chinai College, Andheri (E), Mumbai
More informationTHE PUBLIC ACCOUNTANTS EXAMINATION COUNCIL OF MALAWI 2014 EXAMINATIONS ACCOUNTING TECHNICIAN PROGRAMME PAPER TC9: COSTING AND BUDGETARY CONTROL
EXAMINATION NO. THE PUBLIC ACCOUNTANTS EXAMINATION COUNCIL OF MALAWI 2014 EXAMINATIONS ACCOUNTING TECHNICIAN PROGRAMME PAPER TC9: COSTING AND BUDGETARY CONTROL MONDAY 2 JUNE 2014 TIME ALLOWED: 3 HOURS
More informationSUGGESTED SOLUTION INTERMEDIATE M 19 EXAM
SUGGESTED SOLUTION INTERMEDIATE M 19 EXAM SUBJECT- COSTING Test Code - PIN 5043 M BRANCH - () (Date :) Head Office : Shraddha, 3 rd Floor, Near Chinai College, Andheri (E), Mumbai 69. Tel : (022) 26836666
More informationEngineering Economics and Financial Accounting
Engineering Economics and Financial Accounting Unit 4: Costing Major Topics are: Job Costing Operating Costing Process Costing Standard Costing (Variance Analysis) Gross Domestic Product (GDP) Job Costing
More informationCOST ACCOUNTING AND COST MANAGEMENT By Mr RS Sardesai
COST ACCOUNTING AND COST MANAGEMENT By Mr RS Sardesai Syllabus 1. Cost analysis and preparation of cost statement 2. Marginal costing and decision making 3. Standard costing calculation and variances 4.
More informationThe Institute of Chartered Accountants of India
PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I: COST ACCOUNTING QUESTIONS Material 1. Arnav Udyog, a small scale manufacturer, produces a product X by using two raw materials A and B in the ratio
More informationStandard 4 pounds Quantity $ 7.50/pound Standard Cost $30.00
Part 1 Study Unit 7 Fausto Company employs a standard cost system in which direct materials inventory is carried at standard cost. The company has established the following standard for the materials costs
More informationP8_Practice Test Paper_Syl12_Dec2013_Set 1
Full Marks: 100 Paper 8 : Cost Accounting and Financial Management Time : 3 hours This question paper is divided into two sections, Section A- Cost Accounting (60 marks) and Section B - Financial Management
More informationPAPER 8- COST ACCOUNTING
PAPER 8- COST ACCOUNTING Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper - 8: COST ACCOUNTING Full Marks: 100 Time Allowed: 3 Hours
More informationPaper F5 ANSWERS TO EXAMPLES
September-December 2016 Examinations ACCA F5 87 Paper F5 ANSWERS TO EXAMPLES Chapter 1 ANSWER TO EXAMPLE 1 (a) Total overheads $190,000 Total labour hours A 20,000 2 = 40,000 B 25,000 1 = 25,000 C 2,000
More informationUnit Costing & Reconciliation
Unit Costing & Reconciliation Question : 1 (Nov, 2003) CA Past Years Exam Question A fire occurred in the factory premise on 31 st October of a year. The accounting records have been destroyed. Certain
More informationACCY 121 Chapter 16 Practice Quiz Fundamentals of Variance Analysis (1)
ACCY 121 Chapter 16 Practice Quiz Fundamentals of Variance Analysis (1) 101. The Hageness Company has had great difficulty in controlling overhead costs. At a recent convention, the president heard about
More informationWrite your answers in blue or black ink/ballpoint. Pencil may be used only for graphs, charts, diagrams, etc.
Series 2 Examination 2008 COST ACCOUNTING Level 3 Tuesday 27 May Subject Code: 3616/M Time allowed: 3 hours INSTRUCTIONS FOR CANDIDATES Answer 5 questions. All questions carry equal marks. Write your answers
More informationCOSTING IPCC PAPER 6: ALL CHAPTERS MARKS : 100 ; TIME : 3 Hours ; Level of Test : Level D out of D. Q1 (a) Solve the following:
COSTING IPCC PAPER 6: ALL CHAPTERS MARKS : 100 ; TIME : 3 Hours ; Level of Test : Level D out of D. Q1 (a) Solve the following: [10 Marks]. Dipu Construction Ltd. commenced a contract on November 01, 2003.
More informationAnswer to MTP_Intermediate_Syllabus 2008_Jun2014_Set 1
Paper-8: COST & MANAGEMENT ACCOUNTING SECTION - A Answer Q No. 1 (Compulsory) and any 5 from the rest Question.1 (a) Match the statement in Column 1 with the most appropriate statement in Column 2 : [1
More informationMark Scheme (Results) Series Pearson LCCI Level 3 COST ACCOUNTING (ASE3017)
Mark Scheme (Results) Series 3 2014 Pearson LCCI Level 3 COST ACCOUNTING (ASE3017) LCCI International Qualifications LCCI International Qualifications are awarded by Pearson, the UK s largest awarding
More information