Solution Paper 8 COST AND MANAGEMENT ACCOUNTING June Chapter 2 Material

Size: px
Start display at page:

Download "Solution Paper 8 COST AND MANAGEMENT ACCOUNTING June Chapter 2 Material"

Transcription

1 June [7] (a) Date Receipts Qty (Units) May Opening Balance Solution Paper 8 COST AND MANAGEMENT ACCOUNTING June Chapter 2 Material Rate FIFO Method Issue Qty. (Units) Rate Issue LIFO Method Qty (units) Rate To Production To Production To Production To Production To Production To Production From Supplier Returned to stores (Shortage) 5 25 (Shortage) To Production To Production (180) From Supplier To Production (304) To Production 24.5 (304) From supplier To Production To Production (Shortage) (Shortage) Returned Stores From Supplier

2 Particulars FIFO Method FIFO Method Units ` Units ` Total Issued to production Less: Returns Net Cost of Consumption Closing inventory value Opening inventory value Total Average inventory at cost , ,347 13,010 12,500 25,510 25,510/2 = 12, , ,270 13,094 12,500 25,594 25,584/2 = 12,797 Inventory Turnover Ratio = Material cost of the sales/ average inventory = 20347/12755= or 1.6 Working Notes: (i) Calculation of closing inventory value FIFO Method 20,270/12797=1.585 or 1.6 LIFO Method = ` 2, = 7, = = 2, ` 3, = ` 7, = 5, ` 13,094 (ii) Calculation of value issued to production FIFO Method 25 = ` 12, = 4, = = 3, ` 21,001 LIFO Method 25 = ` 7, = = 7, = 5, ` 20,924 Conclusion: Inventory turnover ratio (1.595) under FIFO method shows a more favourable situation. Chapter 4 Direct Expenses, Overheads & Treatment of Special Items June [2] (b) (ii) Bad Debts: One view is that Bad Debts should be excluded from cost accounts as they are financial losses. Another view is that they should be treated as part of selling and distribution overheads, especially when they arise in the normal course of trading. 2

3 Therefore, bad debts should be treated in cost accounting as any other selling and distribution expenses June [2] (b) (i) Fringe Benefits: These benefits are given in the form of overtime, extra-shift duty allowance, holiday pay, pension facilities etc. There are some non-cash fringe benefits also like canteen facility etc. Expenditure incurred on fringe benefits in respect of factory workers should be treated as factory overheads and apportioned among all the production and service departments on the basis of number of workers in each department. Fringe benefits of office and selling & distributing staff should be treated as administration overheads and selling and distribution overheads respectively and recovered accordingly. Chapter 6 Job, Batch and Contract June [4] (b) Answer: Please refer June [7] (b) June [6] (b) Statement of the cost of the job (i) Statement of the cost of the job when overheads are charged using Direct Material Cost Rate Particulars Amount ` Material Cost Labour Overheads Cost of Job (ii) Statement of the cost of the job when overheads are charged using Labour Hour Rate Particulars Amount ` Material Cost Labour Overheads Cost of Job (iii) Statement of the cost of the job when overheads are charged using Machine Hour Rate Particulars Amount ` Material Cost Labour 5000 Overheads 2880 Cost of Job

4 Chapter 7 Process Costing, Joint Products and By-Products June [3] (b) Joint products: - When two or more products are simultaneously produced from the same raw material having equal importance is termed as joint products. The processing of a particular raw material may result in the output of two or more products, e.g. in oil refining, fuel oil, petrol, diesel, kerosene, lubricating oil are joint products. By-products: - One or more products simultaneously produced with a greater value produced in the same process. Here the greater value product is known as main product and smaller value product is termed as by product. For difference refer [Dec] (2) June [5] (b) Process A A/C Particulars Units Amount To Materials To Wages To Manuf. Exp By Normal Loss By Abnormal Loss 8000 By Sale of scrap By Process B A/C Particulars Units Amount Working Note: Cost per unit = = 180 per unit Particulars Units Amount To Process A A/C To Materials To Wages To Manuf. Exp. To Abnormal Gain Process B A/C Particulars Units Amount By Normal Loss By Sale of scrap By Finished stock

5 June [8] (e) Chapter 8 Cost Accounting in Service Sector Industry Apportioning Costing Method Cost Unit (i) Textile Process Costing Per metre (or any unit of length) (ii) Canteen Operating Costing Per meal/per item (iii) Medicines Batch Costing Per batch (iv) Paper Unit Costing/Process Costing Per ream (or any unit of numbers) (v) Oil Refinery Process Costing Per tonne/per litre (or any unit of volume or weight) Chapter 10 Reconciliation of Cost and Financial Accounts June [6] (a) Reconciliation Statement Particulars Amount ` Net loss as per costing records (1,72,400) Add: Administrative overhead recovered in excess Depreciation over-recovered in costing ( ) Interest received not included in costing Bank interest credited in financial books Stores adjustment (credit) in financial books Interest charged in cost A/cs but not in financial A/cs Less: Works overhead under-recovered in costing Obsolescence charged (loss) in financial records Income tax provided in financial books Opening stock under-valued in cost A/cs (54,000-52,600) Closing stock over-valued in cost A/cs (52,000 49,600) Preliminary expenses written off in financial A/cs Provision for doubtful debts in financial A/cs Net loss as per Financial Accounts ( 2,08,045) 5

6 June [2] (a) Particulars Sales Chapter 11 Marginal Costing and Decision Making Year I ` 10,00,000 Year II SP increased by 20% ` 12,00,000 Year II Actual ` 16,80,000 Year II Before SP Increase 14, 00,000 (10,00, %*) Less: Marginal Cost of Sales 6,00,000 6,00,000 8,00,000 8,40,000 (at year I cost) (6,00, %) Contribution 4,00,000 6,00,000 8,80,000 5,60,000 Working Note- *Increase in Sales = ` 16, 80,000 ` 12, 00,000 = ` 4,80,000 ˆ Increase in Volume = 100 = 40% (i) Increase in contribution due to increase in Selling Price =16,80,000-14,00,000 = ` 2,80,000 Increase in Volume = 40% If only volume increased, Sales value should have been = ` 14,00,000 Variable cost should have been = ` 8,40,000 Contribution should have been = ` 5,60,000 (ii) Increase in Contribution due to volume increase = 5,60,000 4,00,000 = ` 1,60,000 Variable cost for the increased volume should have been = ` 8,40,000 It is actually = ` 8,00,000 (iii) Increase in Contribution due to Cost Reduction = ` 40, June [5] (a) Capacity utilized 80% Turnover at 80% capacity 32,000 units Turnover at 100% capacity 40,000 Units Fix cost ` 1,50,000, Fixed cost at more than 80% = ` 1,70,000 Selling price ` 25 per unit Contribution per unit ` 7.50 PVR = 100 = 30% 6

7 (i) BEP = = = 20,000 units Activity level in % = 100 = 50% (ii) (a) If fixed cost is ` 1,50,000 Let desire sales be X units Desire sales = X = X= ` 7,50,000 units Numbers of units = 1.50,000/25= 30,000 units As activity level is less than units, hence additional supervision cost will not be applicable. (b) If fixed cost is ` 1,70,00 X= X = ` 8,50,000 No. of units = 8,50,000/25 = 34,000 units No. of unit to be sold to earn a profit of ` 1,00,000 (iii) No. of units = 1,50, ,00,000/7.5 = 33,333 units Which exceeds 32,000 units. Hence fixed cost will be ` 1,70,000 No of units = = 36,000 units Activity level = 36,000/40, = 90% Chapter 12 Activity Based Costing June [8] (b) Please Refer Dec [8] (b) Chapter 13 Budgetary Control June [8] (c) Please refer June [8] (e) June [8] (a) Principal budget factors: Principal budget factor is also known as key factor or limiting 7

8 factor or governing factor. A principal budget factor is a factor which at a particular time, or over a period, will limit the activities of an undertaking. The factor may vary from business to business or even from year to year for the same business. It is defined as the factor, the extent of whose influence must first be assessed in order to exercise that the functional budget are reasonably capable of fulfillment. Importance of budget factor- The early identification of this factor is important in the budgetary planning process because it indicates which budget should be prepared first. Failure to identify the principal budget factor at an early stage could lead to delays later on when managers realize that the targets they have been working with are not feasible. Examples of key factors: (a) Sales: (i) Depression in demand, (ii) High price of product, (iii) Shortage of efficient salesman, (iv) Tough competition, (v) Strict credit terms, (vi) Poor customer service - failing in delivery promise, inadequate stock due to warehousing problems, failing in quick service etc. (vii) Poor advertising, (viii) (b) Poor quality product etc. Production: (i) Shortage of capacity or unbalanced capacity between processing departments. (ii) Lack of proper production planning, (iii) Power or gas or steam shortage, (iv) Lack of proper maintenance resulting in frequent break-down of machines, (v) Lack of proper supervision and/or technical staff. (vi) Bottleneck in key process etc. (c) Raw materials (i) shortage due to non availability, (ii) Shortage due to' import restriction, rationing through quotas. (d) Labour (i) Shortage of particular skill, (ii) High absenteeism, (iii) Absence of incentive scheme. 8

9 (e) Working capital (i) Inadequacy of funds, (ii) Liberal credit policy, (iii) Inefficient management of funds June [4] (a) Cash Budget Description May 2013 June 2013 July 2013 Opening Balance 40,000 92,428 (9,860) Receipts 4,01,700 4,50,280 4,25,880 Total Inflows 4,41,700 5,42,708 4,16,020 Payments of Suppliers 1,61,640 1,72,440 1,66,320 Labour Payments 86,040 86,400 79,920 Variable OH Paid 26,592 28,728 27,936 Fixed OH Paid 75,000 75,000 75,000 Capital Expenditure 1,90,000 Total Outflows 3,49,272 5,52,568 3,49,176 Closing Balance 92,428 (9,860) 66,844 Particulars April May June July August Budgeted Sales 4,00,000 4,50,000 5,20,000 4,20,000 4,80,000 60% of Sales Current 2,40,000 2,70,000 3,12,000 2,52,000 2,88,000 40% Sales prior month 1,80,000 2,08,000 1,68,000 1,92,000 Sales value of Production 4,20,000 4,78,000 4,80,000 4,44,000 Variable cost of pdn = 60% 2,52,000 2,86,800 2,88,000 2,66,400 Materials required for pdn 60% 1,51,200 1,72,080 1,72,800 1,59,840 50% materials purchased prior month 86,040 86,400 79,920 50% materials purchased this month 75,600 86,040 86,400 79,920 Material Purchases 1,61,640 1,72,440 1,66,320 79,920 Payment to suppliers 1,61,640 1,72,440 1,66,320 Labour paid = 30% of V.C. 75,600 86,040 86,400 79,920 Var. OH = 10% of variable cost 25,200 28,680 28,800 26,640 9

10 40% of var OH paid this month 10,080 11,472 11,520 10,656 60% var OH paid next month 15,120 17,208 17,280 15,984 Total Variable OH paid 26,592 28,728 27,936 Cash Fixed OH = 9 lacs/12 75,000 75,000 75,000 75,000 75,000 Chapter 14 Standard Costing June [8] (d) Normal Idle Time: It is inherent in any work situation and cannot be eliminated. Abnormal Idle time: Apart from normal idle time, there may be some factors which may give rise to abnormal idle time. In standard costing, standard labour time is fixed after taking into account the normal idle time. However, if the actual idle time is more than this normal level, it is considered as abnormal idle time and is therefore shown as variance which is always adverse. It indicates the loss caused due to abnormal idle time. Since we need to exclude the influence of the actual rate, we have idle time variance = Abnormal idle time standard rate June [3] (a) Fixed overhead cost variance = ` 1,400(A) given Fixed overhead Volume variance = ` 1,000(A) given Budgeted Over Head = ` 6,000 (given) Standard rate = Budgeted Overhead /budgeted hours = 6000/1200 = 5 Over head cost variance = Overhead expenditure variance + over head volume variance = Overhead Exp. Variance Overhead Exp. Variance = ` 400(A) Overhead Exp. Variance = Budgeted overhead Actual Overhead -400 = 6000 Actual Overhead Actual Over Head incurred = ` 6400 Actual Hours for Actual Production= 6400/8 = 800 hours Overhead capacity variance = (Actual hours Budgeted hours ) standard rate = ( ) 5 = ` 2000 (A) 10

11 Chapter 17 Transfer Pricing June [7] (b) Method of transfer pricing: 1. Cost based transfer pricing 2. Market Pricing 3. Bargained or Negotiated Pricing 1. Cost based transfer pricing- (a) (b) (c) Actual cost of production : In this method goods or services are transferred at their actual cost of production. Demerit- Inefficiency of transferor borne by receiving centre. Standard cost: Under this method all transfers are valued at their standard cost. Demerit- Standards may be unrealistic or out dated creating an unfair price for any of the divisions. Cost of Sales/Full cost : Under this method, in addition to actual cost of production, expenses like selling and distribution, administration, research and development cost etc are also allowed to be recovered from user division. Demerit- In this method, the supplying unit is not allowed to make any profit on transfers to other units. 2. Market pricing- Under this method, the transfer prices of goods/services transferred to other units/divisions is based on market prices. Demerits - Difficulty in obtaining just market prices. Sometime it is difficult to obtain at all any market price for those very products which are manufactured only for internal consumption. 3. Bargained or Negotiated Pricing- Under this method, all independent unit are allowed to fix the prices after negotiations or bargaining. Divisional managers have full freedom to go for outside purchases if prices quoted by other division are not acceptable to them. Demerit- If the negotiating range is not mutually beneficial to both the divisions, there is clash of interest and management intervention may become necessary. The more powerful division may have its way. Goal congruence may be sacrificed, adversely affecting the overall Company profits. 11

12 June [1] (a) Answer1. Column I (i) (ii) (iii) (iv) (v) Chapter 6 Objective Questions (b) (i.) False (ii.) False (iii.) False (iv.) False (v.) False (c) (i.) Profit (ii.) Reorder (iii.) Tonne-kilometer (iv.) Job Coasting (v.) Adverse (d) (i.) (a) Over Absorption = Absorbed OH - Actual OH = ( ) = ` 1250 (ii.) (d) Total loss = Normal Loss + Abnormal Loss = 10% of 500 (input) + = 150 kgs.= 650 kgs. Good Production = = 4350 kgs. Column II (B) (D) (A) (E) (C) (iii.) (c) Break Even Point = 60% Hence, Margin of Safety = = 40% Profit = 60,000 = Contribution on MOS. Hence, Total Contribution = 60,000 40% = ` 1,50,000 (iv.) (a) Production = Sales + Closing Stock Opening Stock Finished Goods = = 5,70,000 Units WIP: 60,000 50,000 = 10,000 Units Number of equivalent units produced = 5,80,000 Units (vi.) (d) Opportunity Cost = Cost of next best alternative. Contribution B: = ` 38,500 Contribution C: = ` 40,000 Opportunity Cost: ` 40,000 12

Free of Cost ISBN : CMA (CWA) Inter Gr. II. (Solution upto June & Questions of Dec Included)

Free of Cost ISBN : CMA (CWA) Inter Gr. II. (Solution upto June & Questions of Dec Included) Free of Cost ISBN : 978-93-5034-704-1 Solved Scanner Appendix CMA (CWA) Inter Gr. II (Solution upto June - 2013 & Questions of Dec - 2013 Included) Chapter- 2: Material Accounting 2013 - June [7] (a) Date

More information

Free of Cost ISBN : Appendix. CMA (CWA) Inter Gr. II (Solution upto Dec & Questions of June 2013 included)

Free of Cost ISBN : Appendix. CMA (CWA) Inter Gr. II (Solution upto Dec & Questions of June 2013 included) Free of Cost ISBN : 978-93-5034-631-0 Appendix CMA (CWA) Inter Gr. II (Solution upto Dec. 2012 & Questions of June 2013 included) Paper - 8 : Cost and Management Accounting Chapter - 3 : Labour Accounting

More information

Paper 8- Cost Accounting

Paper 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 information

MID 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 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 information

CS Executive Programme Module - I December Paper - 2 : Cost and Management Accounting

CS Executive Programme Module - I December Paper - 2 : Cost and Management Accounting ISBN : 978-93-5034-747-8 Solved Scanner Appendix CS Executive Programme Module - I December - 2013 Paper - 2 : Cost and Management Accounting Chapter - 1 : Introduction to Cost and Management Accounting

More information

Answer to MTP_Intermediate_Syllabus 2008_Jun2014_Set 1

Answer 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 information

Standard Costing and Budgetary Control

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 information

Answer to PTP_Intermediate_Syllabus 2008_Dec2014_Set 3

Answer to PTP_Intermediate_Syllabus 2008_Dec2014_Set 3 Paper 8: Cost & Management Accounting Time Allowed: 3 Hours Full Marks: 100 Question:1 Question No 1 is Compulsory. Answers any five Questions from the rest. Working Notes should form part of the answer.

More information

PAPER 8- COST ACCOUNTING

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 information

BATCH All Batches. DATE: MAXIMUM MARKS: 100 TIMING: 3 Hours. PAPER 3 : Cost Accounting

BATCH 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 information

MTP_Intermediate_Syl2016_June2018_Set 1 Paper 8- Cost Accounting

MTP_Intermediate_Syl2016_June2018_Set 1 Paper 8- Cost Accounting Paper 8- Cost Accounting DoS, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Cost Accounting Full Marks: 100 Time allowed: 3 hours Section- A Answer the following

More information

Analysing cost and revenues

Analysing 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 information

322 Roll No : 1 : Time allowed : 3 hours Maximum marks : 100

322 Roll No : 1 : Time allowed : 3 hours Maximum marks : 100 2/2013/CMA (N/S) Roll No : 1 : Time allowed : 3 hours Maximum marks : 100 Total number of questions : 6 Total number of printed pages : 7 NOTE : 1. Answer ALL Questions. 2. All working notes should be

More information

Analysing cost and revenues

Analysing cost and revenues Osborne Books Tutor Zone Analysing cost and revenues Chapter activities 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 accounting

More information

B.Com II Cost Accounting

B.Com II Cost Accounting B.Com II Cost Accounting Chapter - 1 Cost Accounting: An Overview of Fundamental Aspects 2009 (1) Discuss the objectives of Cost Accounting. 2011 (1) Discuss importance of cost accounting. 2012 (1) What

More information

Paper 8- Cost Accounting

Paper 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 information

PAPER 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I : COST ACCOUNTING QUESTIONS

PAPER 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I : COST ACCOUNTING QUESTIONS PAPER 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I : COST ACCOUNTING QUESTIONS Material 1. The following information has been extracted from the records of a cotton merchant, for the month of March,

More information

COMMERCE & LAW PROGRAM DIVISION (CLPD) ANSWER KEY TO CS-EXECUTIVE DECEMBER-2014 (ATTEMPT) CODE-C SUBJECT : COST & MANAGEMENT ACCOUNTING

COMMERCE & LAW PROGRAM DIVISION (CLPD) ANSWER KEY TO CS-EXECUTIVE DECEMBER-2014 (ATTEMPT) CODE-C SUBJECT : COST & MANAGEMENT ACCOUNTING COMMERCE & LAW PROGRAM DIVISION (CLPD) ANSWER KEY TO CS-EXECUTIVE DECEMBER-2014 (ATTEMPT) CODE-C SUBJECT : COST & MANAGEMENT ACCOUNTING 1. If the minimum stock level and average stock level of raw material

More information

December CS Executive Programme Module - I Paper - 2

December CS Executive Programme Module - I Paper - 2 December - 2015 CS Executive Programme Module - I Paper - 2 (New Syllabus) Cost and Management Accounting Total number of questions: 100 Maximum marks: 100 Assertion A: 1. In management accounting, firm

More information

MOCK TEST PAPER 2 INTERMEDIATE (IPC): GROUP I PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT SUGGESTED ANSWERS/ HINTS

MOCK 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 information

Free of Cost ISBN : Scanner Appendix. CS Executive Programme Module - I December Paper - 2 : Cost and Management Accounting

Free 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 information

BPC6C Cost and Management Accounting. Unit : I to V

BPC6C Cost and Management Accounting. Unit : I to V BPC6C Cost and Management Accounting Unit : I to V UNIT -1 FUNDAMENTALS OF COST ACCOUNTING Nature and scope of Cost Accounting, Distinction between cost and financial accounting, Cost sheet, tenders Characteristics

More information

EOQ = = = 8,000 units Reorder level Reorder level = Safety stock + Lead time consumption Reorder level = (ii)

EOQ = = = 8,000 units Reorder level Reorder level = Safety stock + Lead time consumption Reorder level = (ii) Model Test Paper - 1 IPCC Group- I Paper - 3 Cost Accounting and Financial Management May - 2017 1. (a) Primex Limited produces product P. It uses annually 60,000 units of a material Rex costing ` 10 per

More information

Cost Accounting. Level 3. Model Answers. Series (Code 3016) 1 ASE /2/06

Cost 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 information

SUGGESTED SOLUTION INTERMEDIATE M 19 EXAM

SUGGESTED SOLUTION INTERMEDIATE M 19 EXAM SUGGESTED SOLUTION INTERMEDIATE M 19 EXAM SUBJECT- COSTING Test Code - PIN 5043 BRANCH - () (Date :) Head Office : Shraddha, 3 rd Floor, Near Chinai College, Andheri (E), Mumbai 69. Tel : (022) 26836666

More information

SUGGESTED SOLUTION INTERMEDIATE M 19 EXAM

SUGGESTED 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 information

PAPER 8- COST ACCOUNTING

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 information

Cost and Management Accounting

Cost and Management Accounting Paper 2 Cost and Management Accounting Syllabus......................................... 2.2 Line Chart Showing Relative Importance of Chapters...... 2.6 Table Showing Importance of Chapter on the Basis

More information

MTP_Intermediate_Syl2016_June2017_Set 1 Paper 8- Cost Accounting

MTP_Intermediate_Syl2016_June2017_Set 1 Paper 8- Cost Accounting Paper 8- Cost Accounting Page 1 Page 1 Paper-8: Cost Accounting Full Marks: 100 Time allowed:3 hours Section A Answer the following questions: 1. Choose the correct answer from the given four alternatives:

More information

PTP_Intermediate_Syllabus 2008_Jun2015_Set 3

PTP_Intermediate_Syllabus 2008_Jun2015_Set 3 Paper 8: Cost & Management Accounting Time Allowed: 3 Hours Full Marks: 100 Question No 1 is Compulsory. Answers any five Questions from the rest. Working Notes should form part of the answer. Question.1

More information

PAPER 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I : COST ACCOUNTING QUESTIONS

PAPER 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I : COST ACCOUNTING QUESTIONS PAPER 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I : COST ACCOUNTING QUESTIONS 1. (i) ABC Ltd. had an opening inventory value of 1760 (550 units valued at 3.20 each) on 1 st April 2010. The following

More information

Answer to MTP_Intermediate_Syl2016_June2018_Set 1 Paper 8- Cost Accounting

Answer to MTP_Intermediate_Syl2016_June2018_Set 1 Paper 8- Cost Accounting Paper 8- Cost Accounting DoS, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Cost Accounting Full Marks: 100 Time allowed: 3 hours Section- A Answer the following

More information

Answer to MTP_Foundation_Syllabus 2012_Dec2016_Set 2 Paper 2- Fundamentals of Accounting

Answer to MTP_Foundation_Syllabus 2012_Dec2016_Set 2 Paper 2- Fundamentals of Accounting Paper 2- Fundamentals of Accounting Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 2- Fundamentals of Accounting Full Marks :

More information

STUDY NOTES FOR COST ACCOUNTING

STUDY NOTES FOR COST ACCOUNTING STUDY NOTES FOR COST ACCOUNTING BY ATAUSH SHAFI Last Updated on: Sunday, May 13, 2012 1 Terms Cost accounting Cost object Cost unit Cost Center Cost Accounting Manual 2012 CIMA OFFICIAL TERMINOLOGY Definitions

More information

= Shs 16,000,000. (ii) Break Even point in Sales = Fixed Cost = 8,000,000 Contribution Margin Ratio (120,000,000/24,000,000)

= Shs 16,000,000. (ii) Break Even point in Sales = Fixed Cost = 8,000,000 Contribution Margin Ratio (120,000,000/24,000,000) QUESTION ONE (a) Marginal costing refers to a method of costing products (goods and services) in which the cost per unit is only the variable costs. Thus, the current production and closing stocks are

More information

WORK BOOK COST ACCOUNTING

WORK BOOK COST ACCOUNTING WORK BOOK COST ACCOUNTING INTERMEDIATE GROUP I PAPER 8 The Institute of Cost Accountants of India (Statutory body under an Act of Parliament) www.icmai.in First Edition : March 2018 Completed by : Academics

More information

Answer to MTP_Intermediate_Syl2016_June2017_Set 1 Paper 8- Cost Accounting

Answer to MTP_Intermediate_Syl2016_June2017_Set 1 Paper 8- Cost Accounting Paper 8 Cost Accounting Page 1 Page 1 Paper8: Cost Accounting Full Marks: 100 Time allowed: 3 hours Section A Answer the following questions: 1. Choose the correct answer from the given four alternatives:

More information

Postal Test Paper_P10_Intermediate_Syllabus 2016_Set 1 Paper 10- Cost & Management Accounting And Financial Management

Postal 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 information

(b) Flexible Budget For The Year Ended 31 May 2003

(b) Flexible Budget For The Year Ended 31 May 2003 Paper 2 Section A Question 1 Flexible budgets recognise the difference in cost behaviour (1) between fixed and variable costs in relation to fluctuations in output, (1) turnover, or other variable factors.

More information

Engineering Economics and Financial Accounting

Engineering 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 information

Cost and Management Accounting

Cost and Management Accounting Paper 2 Cost and Management Accounting Syllabus................................................ 2.2 Line Chart Showing Relative Importance of Chapters............ 2.5 Table Showing Importance of Chapter

More information

Appendix. IPCC Gr. I (New Course) (Solution upto November & Question of May ) Free of Cost ISBN :

Appendix. IPCC Gr. I (New Course) (Solution upto November & Question of May ) Free of Cost ISBN : Free of Cost ISBN : 978-93-5034-234-3 Appendix IPCC Gr. I (New Course) (Solution upto November - 2011 & Question of May - 2012) Paper - 3A : Cost Accounting Chapter-1 : Basic Concepts 2011 - Nov [5] (i)

More information

MTP_Intermediate_Syllabus 2008_Jun2015_Set 2

MTP_Intermediate_Syllabus 2008_Jun2015_Set 2 Paper 8: Cost & Management Accounting Time Allowed: 3 Hours Full Marks: 100 Question No 1 is Compulsory. Answers any five Questions from the rest. Working Notes should form part of the answer. Question.1

More information

Method of Costing (II) (Process & Operation Costing, Joint Products & By Products)

Method of Costing (II) (Process & Operation Costing, Joint Products & By Products) 7 Method of Costing (II) (Process & Operation Costing, Joint Products & By Products) Question 1 JKL Limited produces two products J and K together with a by-product L from a single main process (process

More information

2016 EXAMINATIONS ACCOUNTING TECHNICIAN PROGRAMME PAPER TC9: COSTING AND BUDGETARY CONTROL

2016 EXAMINATIONS ACCOUNTING TECHNICIAN PROGRAMME PAPER TC9: COSTING AND BUDGETARY CONTROL EXAMINATION NO. 2016 EXAMINATIONS ACCOUNTING TECHNICIAN PROGRAMME PAPER TC9: COSTING AND BUDGETARY CONTROL THURSDAY 2 JUNE 2016 TIME ALLOWED : 3 HOURS 9.00 AM - 12.00 NOON INSTRUCTIONS 1. You are allowed

More information

Osborne Books Tutor Zone. Elements of Costing. Practice assessment 1

Osborne Books Tutor Zone. Elements of Costing. Practice assessment 1 Osborne Books Tutor Zone Elements of Costing Practice assessment 1 Osborne Books Limited, 2016 2 e l e m e n t s o f c o s t i n g t u t o r z o n e Task 1 Identify the following statements as being true

More information

Final Examination Semester 2 / Year 2011

Final Examination Semester 2 / Year 2011 Southern College Kolej Selatan 南方学院 Final Examination Semester 2 / Year 2011 COURSE : BASIC COSTING COURSE CODE : ACCT2013 TIME : 2 1/2 HOURS DEPARTMENT : FINANCE AND ACCOUNTING LECTURER : GAN HWI SIN

More information

b) To answer any questing dealing with variances work out the rates and the cost per unit i.e. work out the standard cost per unit.

b) To answer any questing dealing with variances work out the rates and the cost per unit i.e. work out the standard cost per unit. QUESTION ONE a) Basic Standards These are standards which are kept unaltered over a long period of time and may be out of date. These are used to show changes in efficiency or performance over a long period

More information

ALL IN ONE MGT 402 MIDTERM PAPERS MORE THAN ( 10 )

ALL IN ONE MGT 402 MIDTERM PAPERS MORE THAN ( 10 ) ALL IN ONE MGT 402 MIDTERM PAPERS MORE THAN ( 10 ) MIDTERM EXAMINATION MGT402- Cost & Management Accounting Question No: 1 ( Marks: 1 ) - Please choose one D Corporation uses process costing to calculate

More information

F2 Management Accounting Mock Examination

F2 Management Accounting Mock Examination F2 Management Accounting Mock Examination Question Paper Time allowed 2 hours Section A ALL 35 questions are compulsory and MUST be answered Section B ALL THREE questions are compulsory and MUST be answered

More information

MANAGEMENT ACCOUNTING

MANAGEMENT ACCOUNTING MANAGEMENT ACCOUNTING FORMATION 2 EXAMINATION - AUGUST 2011 NOTES: Section A - Questions 1 and 2 are compulsory. You have to answer Part A or Part B only of Question 2. (If you provide answers to both

More information

Cost and Management Accounting

Cost and Management Accounting Paper 2 Cost and Management Accounting Syllabus... Q&A-2.2 Bird's-Eye View... Q&A-2.5 Line Chart Showing Relative Importance Chapters... Q&A-2.7 Table Showing Importance of Chapter on the Basis of Marks...

More information

Revisionary Test Paper_Intermediate_Syllabus 2008_Jun2015

Revisionary Test Paper_Intermediate_Syllabus 2008_Jun2015 Paper-8: Cost & Management Accounting Question.1 (i) In the following cases, one out of four answers is correct. You are required to indicate the correct answer. (a) Budgeted sales for the next year is

More information

MTP_Intermediate_Syllabus 2016_Dec2017_Set 1 Paper 8 Cost Accounting

MTP_Intermediate_Syllabus 2016_Dec2017_Set 1 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 information

INTER CA MAY Test Code M32 Branch: MULTIPLE Date: (50 Marks) Note: All questions are compulsory.

INTER 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 information

INTERMEDIATE EXAMINATION

INTERMEDIATE EXAMINATION INTERMEDIATE EXAMINATION GROUP II (SYLLABUS 2008) SUGGESTED ANSWERS TO QUESTIONS DECEMBER 2011 Paper-8 : COST AND MANAGEMENT ACCOUNTING Time Allowed : 3 Hours Full Marks : 100 The figures in the margin

More information

Solved Answer Cost & F.M. CA Pcc & Ipcc May

Solved 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 information

SAMVIT ACADEMY IPCC MOCK EXAM

SAMVIT ACADEMY IPCC MOCK EXAM SUGGESTED ANSWERS - Group 1 Costing (Code FUN) Disclaimer (Read carefully) The answers given below are prepared by the faculty of Samvit Academy as per their views and experience. The working notes, notes

More information

FOUNDATION EXAMINATION

FOUNDATION EXAMINATION FOUNDATION EXAMINATION (SYLLABUS 2008) SUGGESTED ANSWERS TO QUESTIONS JUNE 2012 Paper-2 : ACCOUNTING Time Allowed : 3 Hours Full Marks : 100 The figures in the margin on the right side indicate full marks.

More information

The Institute of Chartered Accountants of India

The Institute of Chartered Accountants of India PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT Question No. 1 is compulsory. Answer any five questions from the remaining six questions. Working notes should form part of the answer Question 1 (a) Human

More information

P8_Practice Test Paper_Syl12_Dec2013_Set 1

P8_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 information

FOR MORE PAPERS LOGON TO

FOR MORE PAPERS LOGON TO MGT402 - Cost & Management Accounting Question No: 1 ( Marks: 1 ) - Please choose one Opportunity cost is the best example of: Sunk Cost Standard Cost Relevant Cost Irrelevant Cost Question No: 2 ( Marks:

More information

Analysing costs and revenues

Analysing costs and revenues Osborne Books Tutor Zone Analysing costs and revenues Practice assessment 1 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 This assessment relates to

More information

Chapter 10 Process Costing Ibrahim Sameer (MBA - Specialized in Finance, B.Com Specialized in Accounting & Marketing)

Chapter 10 Process Costing Ibrahim Sameer (MBA - Specialized in Finance, B.Com Specialized in Accounting & Marketing) Chapter 10 Process Costing Ibrahim Sameer (MBA - Specialized in Finance, B.Com Specialized in Accounting & Marketing) The Basic of Process Costing Process costing is a costing method used where it is not

More information

ACCA. Paper F2 and FMA. Management Accounting December 2014 to June Interim Assessment Answers

ACCA. 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 information

Write your answers in blue or black ink/ballpoint. Pencil may be used only for graphs, charts, diagrams, etc.

Write 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 information

SECTION I 14,000 14,200 19,170 10,000 8,000 10,400 12,400 9,600 8,400 11,200 13,600 18,320

SECTION I 14,000 14,200 19,170 10,000 8,000 10,400 12,400 9,600 8,400 11,200 13,600 18,320 QUESTION ONE SECTION I The following budget and actual results relates to Cypo Ltd. for the last three quarters for the year ended 31 March 200. Budget: Quarter 2 Quarter 3 Quarter to 30/9/2003 to 31/12/2003

More information

Sree Lalitha Academy s Key for CA IPC Costing & FM- Nov 2013

Sree Lalitha Academy s Key for CA IPC Costing & FM- Nov 2013 1. a. Question No.1 is compulsory Answer any 5 questions from the remaining 6 questions (Key Covers only Problems does not include theory) i. Annual Demand 60,000 Units Cost Rs. 10 Per unit Cost of Placing

More information

5_MGT402_Spring_2010_Final_Term_Solved_paper

5_MGT402_Spring_2010_Final_Term_Solved_paper 5_MGT402_Spring_2010_Final_Term_Solved_paper http://vustudents.ning.com Question No: 1 ( Marks: 1 ) - Please choose one BDH produced 30,500 units of Kisty (a product). Each unit of Kisty takes two units

More information

Solved Answer COST & F.M. CA IPCC Nov

Solved 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 information

Required: (a) Calculate total wages and average wages per worker per month, under the each scenario, when

Required: (a) Calculate total wages and average wages per worker per month, under the each scenario, when PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT PART I: COST ACCOUNTING QUESTIONS Material 1. Aditya Brothers supplies surgical gloves to nursing homes and polyclinics in the city. These surgical gloves

More information

Part 1 Examination Paper 1.2. Section A 10 C 11 C 2 A 13 C 1 B 15 C 6 C 17 B 18 C 9 D 20 C 21 C 22 D 23 D 24 C 25 C

Part 1 Examination Paper 1.2. Section A 10 C 11 C 2 A 13 C 1 B 15 C 6 C 17 B 18 C 9 D 20 C 21 C 22 D 23 D 24 C 25 C Answers Part 1 Examination Paper 1.2 Financial Information for Management June 2007 Answers Section A 1 B 2 A 3 A 4 A 5 D 6 C 7 B 8 C 9 D 10 C 11 C 12 A 13 C 14 B 15 C 16 C 17 B 18 C 19 D 20 C 21 C 22

More information

LCCI International Qualifications. Cost Accounting Level 3. Model Answers Series (3017)

LCCI 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 information

INTERMEDIATE EXAMINATION GROUP -I (SYLLABUS 2016)

INTERMEDIATE EXAMINATION GROUP -I (SYLLABUS 2016) INTERMEDIATE EXAMINATION GROUP -I (SYLLABUS 2016) SUGGESTED ANSWERS TO QUESTIONS DECEMBER- 2017 Paper-8: COST ACCOUNTING Time Allowed : 3 Hours Full Marks : 100 The figures on the right margin indicate

More information

MGT402 Cost & Management Accounting. Composed By Faheem Saqib MIDTERM EXAMINATION. Spring MGT402- Cost & Management Accounting (Session - 1)

MGT402 Cost & Management Accounting. Composed By Faheem Saqib MIDTERM EXAMINATION. Spring MGT402- Cost & Management Accounting (Session - 1) MGT402 Cost & Management Accounting Composed By Faheem Saqib 14 Midterm Papers 3 of 2010 & 11 of 2009 For more Help Rep At Faheem_saqib2003@yahoo.com Faheem.saqib2003@gmail.com 0334-6034849 MIDTERM EXAMINATION

More information

Suggested Answer_Syl12_Dec2015_Paper 10 INTERMEDIATE EXAMINATION GROUP II (SYLLABUS 2012)

Suggested Answer_Syl12_Dec2015_Paper 10 INTERMEDIATE EXAMINATION GROUP II (SYLLABUS 2012) INTERMEDIATE EXAMINATION GROUP II (SYLLABUS 2012) SUGGESTED ANSWERS TO QUESTIONS DECEMBER 2015 Paper-10: COST AND MANAGEMENT ACCOUNTANCY Time Allowed : 3 Hours Full Marks : 100 The figures in the margin

More information

Answer to MTP_Intermediate_Syllabus 2012_Dec 2016_Set 2 Paper 8- Cost Accounting & Financial Management

Answer to MTP_Intermediate_Syllabus 2012_Dec 2016_Set 2 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 information

TEST- 16 [Solution] Contract Price `25,00,000. Work Certified `24,00,000

TEST- 16 [Solution] Contract Price `25,00,000. Work Certified `24,00,000 Time Allowed: 1 hour 30 min. September 30, 2018 Total Marks: 50 Marks Answer to Question no.1: Sub- Contracting along with its Advantages 1. Sometimes the contractor may not find it feasible to do the

More information

B.COM. Part-III (HONS.) Sub. : ADVANCE COST ACCOUNTING MODAL PAPER-I. Time Allowed: 3 Hour Max. Marks: 100

B.COM. Part-III (HONS.) Sub. : ADVANCE COST ACCOUNTING MODAL PAPER-I. Time Allowed: 3 Hour Max. Marks: 100 B.COM. Part-III (HONS.) Sub. : ADVANCE COST ACCOUNTING MODAL PAPER-I Time Allowed: 3 Hour Max. Marks: 100 Q1 (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) Answers the following questions each having

More information

Postal Test Paper_P8_Intermediate_Syllabus 2016_Set 4 Paper 8- Cost Accounting

Postal 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 information

Answer to MTP_Intermediate_Syllabus 2012_Jun2017_Set 1 Paper 8- Cost Accounting & Financial Management

Answer 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 information

Mark Scheme (Results) Series Pearson LCCI Level 3 COST ACCOUNTING (ASE3017)

Mark 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

Osborne Books Tutor Zone. Elements of Costing. Practice assessment 2

Osborne Books Tutor Zone. Elements of Costing. Practice assessment 2 Osborne Books Tutor Zone Elements of Costing Practice assessment 2 Osborne Books Limited, 2016 2 e l e m e n t s o f c o s t i n g t u t o r z o n e Task 1 Identify the following statements as being true

More information

DISCLAIMER. The Institute of Chartered Accountants of India

DISCLAIMER. The Institute of Chartered Accountants of India DISCLAIMER The Suggested Answers hosted in the website do not constitute the basis for evaluation of the students answers in the examination. The answers are prepared by the Faculty of the Board of Studies

More information

FMA. Management Accounting. OpenTuition.com ACCA FIA. March/June 2016 exams. Free resources for accountancy students

FMA. Management Accounting. OpenTuition.com ACCA FIA. March/June 2016 exams. Free resources for accountancy students OpenTuition.com Free resources for accountancy students March/June 2016 exams ACCA FIA F2 FMA Management Accounting Please spread the word about OpenTuition, so that all ACCA students can benefit. ONLY

More information

FINALTERM EXAMINATION Fall 2009 MGT402- Cost & Management Accounting (Session - 3) Solved by vuzs Team Mehreen Humayun

FINALTERM EXAMINATION Fall 2009 MGT402- Cost & Management Accounting (Session - 3) Solved by vuzs Team Mehreen Humayun FINALTERM EXAMINATION Fall 2009 MGT402- Cost & Management Accounting (Session - 3) Solved by vuzs Team Mehreen Humayun www.vuzs.net Question No: 1 ( Marks: 1 ) - Please choose one All of the following

More information

Answer to PTP_Intermediate_Syllabus 2008_Jun2015_Set 1

Answer to PTP_Intermediate_Syllabus 2008_Jun2015_Set 1 Paper 8: Cost & Management Accounting Time Allowed: 3 Hours Full Marks: 100 Question No 1 is Compulsory. Answers any five Questions from the rest. Working Notes should form part of the answer. Question.1

More information

SUGGESTED SOLUTION INTERMEDIATE N 2018 EXAM

SUGGESTED 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 information

INTERMEDIATE EXAMINATION GROUP -II (SYLLABUS 2016)

INTERMEDIATE EXAMINATION GROUP -II (SYLLABUS 2016) INTERMEDIATE EXAMINATION GROUP -II (SYLLABUS 2016) SUGGESTED ANSWERS TO QUESTIONS JUNE- 2017 Paper- 8 : COST ACCOUNTING Time Allowed : 3 Hours Full Marks : 100 The figures on the right margin indicate

More information

Unit Costing & Reconciliation

Unit 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 information

Solved Scanner. (Solution of December ) CMA Inter Gr. I (Syllabus 2012) Paper - 8: Cost Accounting & Financial Management

Solved Scanner. (Solution of December ) CMA Inter Gr. I (Syllabus 2012) Paper - 8: Cost Accounting & Financial Management Solved Scanner (Solution of December - 2016) CMA Inter Gr. I (Syllabus 2012) Paper - 8: Cost Accounting & Financial Management Paper - 8A: Cost Accounting [Chapter - 2] Materials 1. {C} (I) Answer the

More information

PTP_Intermediate_Syllabus 2012_Jun2014_Set 1

PTP_Intermediate_Syllabus 2012_Jun2014_Set 1 Paper 8: Cost Accounting & Financial Management Time Allowed: 3 Hours Full Marks: 100 Question.1 Section A-Cost Accounting (Answer Question No. 1 which is compulsory and any three from the rest in this

More information

Paper 8- Cost Accounting

Paper 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 information

SYMBIOSIS CENTRE FOR DISTANCE LEARNING (SCDL) Subject: Management Accounting

SYMBIOSIS 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 information

Paper P1 Management Accounting Performance Evaluation Post Exam Guide November 2008 Exam. General Comments

Paper P1 Management Accounting Performance Evaluation Post Exam Guide November 2008 Exam. General Comments General Comments The overall result on this paper was reasonable and, while performance was well below the level seen in May 2008, there was a small improvement on the previous November sitting. gained

More information

Please ensure your answers are written clearly, or marks may be lost. Do NOT open this paper until you are told to do so by the supervisor.

Please ensure your answers are written clearly, or marks may be lost. Do NOT open this paper until you are told to do so by the supervisor. Cost Accounting ASE3017 Level 3 Tuesday 19 November 2013 Time allowed: 3 hours Information There are 5 questions in this examination. Total marks available: 100 All questions carry equal marks. Please

More information

PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT PART-I: COST ACCOUNTING QUESTIONS

PAPER 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. Ananya Ltd. produces a product Exe using a raw material Dee. To produce one unit of Exe, 2 kg of Dee is required.

More information

Revision of management accounting

Revision of management accounting 1 Revision of management accounting The following topics are covered in this chapter: Standard costing Flexible budgeting Absorption and marginal costing 1.1 STANDARD COSTING LEARNING SUMMARY After studying

More information

Reconciliation of Cost and Financial A/c

Reconciliation of Cost and Financial A/c Reconciliation of Cost and Financial A/c Meaning In business concern where Non-integrated Accounting System is followed, cost and financial accounts are maintained separately, the difference between the

More information

INTER CA MAY COSTING Topic: Standard Costing, Budgetary Control, Integral and Non Integral, Materials, Marginal Costing.

INTER 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 information