 Use these filters to find papers

 Question 16 Attempt any five of the following questions:(a) Define cost accounting (b) What is the difference between traditional costing and activity based costing? (c) List out the steps involved in labour cost control. . . (d) What do you mean by over absorption of overheads? (e) Briefly explain the method of calculating profit on cost price and selling price (f) How work in progress is shown in contract account and balance sheet? (g) Give five expenditures items which are not shown in cost accounts. (h) Differentiate between joint products and By-products with examples.  This question has 0 answers so far. 8 Calculate the wages of a worker under Halsey Premium Plan and Rowan Premium Plan. Standard time                    50 Hours Actual time                        40 Hours Wages rate                         Rs. 5 per hour Bonus                                 50% for time saved Dearness Allowance         Re. 1 per day for 8 hours This question has 0 answers so far. 6 (a) A worker completes a job in a certain number of hours. The standard time allowed for      the job is 12 hours and the hourly rate of wages is Rs. 5 per hour. The worker earns, at the rate of 50%, a bonus of Rs. 7.5 under Halsey Plan. Ascertain the total earnings of the worker under Rowan Premium Plan. Also calculate the effective rate of earning per hour. (b) Calculate Machine Hour Rate from the following: Cost of Machine                             Rs. 1,30,000 Installation Charges                      Rs 20,000WorkingLife                                     10 years Working Hours                                1,500 per year Repairing Charges 40% of Depreciation Power 10 units per hour @ Rs. 0.10 per unit Lubricating oil Rs. 6 per day of 8 hours. Consumable store Rs. 10 per day of 8 hours Wages of Operator Rs. 4 per day. Machine Insurance 40% of Depreciation.  This question has 0 answers so far. 6 Prepare the process account form the following information: The output during the period is 2,000 units, the overheads are Rs. 7,800 Allocate the overheads on the basis as given below: In process X 150% of Y and in Process Z 50% of Process X.  This question has 0 answers so far. 4 "Cost may be classified in a variety of ways according to their nature and the information needs of management." Explain and discuss this statement giving examples of classifications required for different purposes. This question has 0 answers so far. 3 (a) What is the simple average price of the four weeks' receipts of material A? b) What is the weighted average price of the four weeks' receipts of material B? (c) What is the value of the balance of material A, in stock at the close of the fourth week if issues are priced on a LIFO basis? (d) What is the value of the fourth weeks' issue of material B, if they are  priced on a FIFO basis? Opening Stocks: A-400 Kg at Rs. 1,440 B-4,000 Kg at Rs. 5,800  This question has 0 answers so far. 2 Prepare a cost sheet with imaginary figures. This question has 0 answers so far. 2 What do you understand by normal and abnormal wastage of materials during the process of manufacture? Explain how each should be treated in cost accounts.  This question has 0 answers so far. 2 Write short notes on any two of the following: -(a) Memorandum Reconciliation Statement (b) Transport Costing. (c) Power House Costing  This question has 0 answers so far. 2 (a) A worker completes a job in a certain number of hours. The standard time allowed for      the job is 12 hours and the hourly rate of wages is Rs. 5 per hour. The worker earns, at the rate of 50%, a bonus of Rs. 7.5 under Halsey Plan. Ascertain the total earnings of the worker under Rowan Premium Plan. Also calculate the effective rate of earning per hour. (b) Calculate Machine Hour Rate from the following: Cost of Machine                             Rs. 1,30,000 Installation Charges                      Rs 20,000WorkingLife                                     10 years Working Hours                                1,500 per year Repairing Charges 40% of Depreciation Power 10 units per hour @ Rs. 0.10 per unit Lubricating oil Rs. 6 per day of 8 hours. Consumable store Rs. 10 per day of 8 hours Wages of Operator Rs. 4 per day. Machine Insurance 40% of Depreciation.  This question has 0 answers so far. 2 A manufacturer finds that an increase in the cost of production has taken place. Formerly his cost-Raw Materials 30%; Wages 20%; Rent rates etc. 5%; Fuel 10%; General Expenses 15%;. Now there has been increase of 50% in fuel; 30% in materials; 25% in wages and 20% in rent and rates etc. He consults you as to what percentage he must add to the selling price in order to obtain the same profit? What would be the result of your calculations and how would you prove to him that they were correct? This question has 0 answers so far. 2 What is meant by operating cost and operating costing? In which industries it is used? Prepare operating cost sheet with imaginary figures  This question has 0 answers so far. 1 A good system of costing serves as a means of control over expenditure and helps to secure economy in manufacturing." Discuss. .  This question has 0 answers so far. 1 What are the objectives of material control? Discuss the methods of pricing the issues of material and their suitability. This question has 0 answers so far. 1 What is contract costing? Is it desirable to take profit on incomplete contract? If so, to what extent and why?  This question has 0 answers so far. 0 What do you mean by absorbed overhead? Under what circumstance will a difference arise between absorbed overhead and actual overhead? How will you dispose of the balance?  This question has 0 answers so far. 0 Write up a Contract Account form the following The contract was completed in 26 weeks at the end of which plant was returned subject to a depreciation of 20% on the original cost. The value of loose tools and stores returned were Rs. 500 and Rs. 1,00 respectively. The value of the tractor was Rs. 1,20,000 and thedepreciation is to charged to this contract @20% per year. Provided office overheads @10% on works cost. The contract was agreed to be performed 50 total cost  This question has 0 answers so far.
Chat with us