Q1Cost Accounting - Inventory Management, Journal Entries, Lev
20 marks very hard
This is a compulsory question with multiple parts requiring calculations, journal entries, and financial analysis in cost accounting.
Q2aCost Accounting - Transport Operator Costing
8 marks hard
The following information relates to a bus operator: Cost of the bus ₹ 18,00,000; Insurance charges ₹ 39 p.a.; Manager-cum accountant's salary ₹ 8,000 p.m.; Annual Tax ₹ 50,000; Garage Rent ₹ 2,500 p.m.; Annual repair & maintenance ₹ 1,50,000; Expected life of the bus 15 years; Scrap value at the end of 15 years ₹ 1,20,000; Driver's salary ₹ 15,000 p.m.; Conductor's salary ₹ 12,000 p.m.; Fuel and oil ₹ 2,900; Stationery ₹ 500 p.m.; Diesel and oil (for 10 kms.) ₹ 52; Commission to driver and conductor (shared equally) 10% of collections; Route distance 20 km long. The bus will make 3 round trips for carrying on the average 40 passengers in each trip. Assume 15% profit on collections. The bus will work on the average 25 days in a month. Calculate fare for passenger-km.
Q2bFinancial Accounting - Balance Sheet Preparation
8 marks hard
You are required to prepare the Balance Sheet of the company as on 31st March 2013 with the help of following information: Share Capital ₹ 5,75,000; Working capital (CA-CL) ₹ 1,50,000; Gross Margin 25%
Q3aLabour Costing - Worker Turnover Analysis
8 marks hard
The rate of change of labour force in a company during the year ending 31st March, 2013 was calculated as 1%, 8% and 5% respectively under 'Flux Method', 'Replacement method' and 'Separation method'. The number of workers separated during the year is 40. You are required to calculate: (i) Average number of workers on roll; (ii) Number of workers replaced during the year; (iii) Number of new accessions i.e. new recruitment; (iv) Number of workers at the beginning of the year.
Q3bCapital Budgeting - Machine Selection
8 marks very hard
APZ Limited is considering to select a machine between two machines 'A' and 'B'. The two machines have identical capacity, do exactly the same job, but designed differently. Machine 'A' costs ₹ 8,00,000, having useful life of three years. It costs ₹ 3,00,000 per year to run. Machine 'B' is an economy model costing ₹ 6,00,000, having useful life of two years. It costs ₹ 2,50,000 per year to run. The cash flows of machine 'A' and 'B' are real cash flows. The costs are forecasted in rupees of constant purchasing power. Ignore taxes. The opportunity cost of capital is 10%.
Q4Cost Accounting - Standard Costing and Variance Analysis
8 marks hard
SP Limited produces a product 'Tempex' which is sold in a 10 Kg packet. Budgeted output for the third quarter of a year was 10,000 Kg. Actual output and actual cost for this quarter are as follows: Direct Materials 3,900 Kg @ ₹ 45 per Kg: ₹ 4,09,000; Direct Labour 7,000 hours @ ₹ 52 per hour: ₹ 3,64,000; Variable Overhead incurred: ₹ 72,500; Fixed Overhead incurred: ₹ 1,02,000. You are required to calculate: (i) Material Usage Variance, (ii) Material Price Variance, (iii) Material Cost Variance, (iv) Labour Efficiency Variance, (v) Labour Rate Variance, (vi) Labour Cost Variance, (vii) Variable Overhead Cost Variance, (viii) Fixed Overhead Cost Variance.
Q4Cash Flow Analysis - Funds Flow Statement
8 marks hard
The following are the summarised Balance Sheet of Pixon Limited as on 31st March 2012 and 2013. Additional information: (1) Depreciation charged during the year 2012-13: On Plant - ₹ 40,000; On Building - ₹ 40,000. (2) Provision for tax of ₹ 10,000 was made during the year 2012-13. (3) Interim dividend paid during the year 2012-13: Interim Dividend - ₹ 80,000; Corporate Dividend Tax - ₹ 13,596. Prepare: (i) Statement of changes in working capital, (ii) Funds flow statement for the year ended 31st March, 2013.
Q4Adjustments and Journal Entries
8 marks hard
यदि निम्नलिखित अभिलेखों को अपने अकाउंट्स में कैसे लिए जाएंगे? प्रश्न 3 के उत्तर देते हुए निम्नलिखित को ध्यान में रखें: प्रारम्भ में 10 लakh या उससे कम विलय, 450; प्रारम्भ में ₹ 4,45 की विलय, 400; पूर्वलेखित अभिलेख के ₹ 10 की विलय, 80; विविध अभिलेख, 200; कुल लाभ 1,130; और जो विलय के लिए आगे दिए गए हैं: प्रारम्भ में 8,000 लakh, या ₹ 46 की विलय, 4,09,000; प्रारम्भ में 7,000 की या ₹ 52 की विलय, 3,64,000; पूर्वलेखित अभिलेख, 72,500; विविध अभिलेख, 1,92,000। निम्नलिखित को समझौते या लेन-देन से संबंधित मदें: (i) सामग्री विलय (ii) सामग्री विलय (iii) सामग्री विलय
Q5Process Costing and Cost Accounting Concepts
8 marks hard
Explain and elaborate the following:
Q6Machine Hour Rate
8 marks hard
Calculate Machine Hour Rate from the following particulars:
Cost of Machine = ₹ 25,00,000
Salvage Value = ₹ 1,25,000
Estimated life of the machine = 25,000 Hours
Working Hours (per annum) = 3,000 Hours
Hours required for maintenance = 400 Hours
Setting-up time required = 8% of actual working hours
Additional Information:
(i) Power 25 units @ ₹ 5 per unit per hour.
(ii) Cost of repairs and maintenance ₹ 36,000 per annum.
(iii) Chemicals required for operating the machine ₹ 3,600 per month.
(iv) Overhead chargeable to the machine ₹ 11,000 per month.
(v) Insurance Premium (per annum) 2% of the cost of machine
(vi) No. of operators = 02 (looking after three other machines also)
(vii) Salary per operator per month ₹ 18,500
Q6bWorking Capital Management / Receivables Policy
8 marks hard
Case: Credit policy evaluation for PTX Limited
PTX Limited is considering a change in its present credit policy. Currently it is evaluating two policies. The company is required to give a return of 20% on incremental cash outlay. The company's variable costs are 70% of the selling price.
Information regarding present and proposed policies:
Annual Credit Sales (₹): Present Policy 30,00,000 | Policy Option 1 42,00,000 | Policy Option 2 45,00,000
Debtors turnover ratio: Present Policy 4 times | Policy Option 1 3 times | Policy Option 2 2.4 times
Loss due to bad debts: Present Policy 3% of sales | Policy Option 1 5% of sales | Policy Option 2 6% of sales
Note: Return on investment in new accounts receivable is based on cost of investment in debtors.
Which option would you recommend?
Q7Cost Accounting and Financial Management
16 marks very hard
Answer any four of the following:
Q14Trial Balance Adjustments and Financial Transactions
8 marks very hard
Multiple parts question with items (a) कर प्रभाव विलय (b) कर प्रभाव विलय (c) कर प्रभाव विलय (d) कर प्रभाव विलय (viii) कर अभिलेख प्रभाव विलय (b) April 31, 2012 to 2013 के संपर्क विलय से संबंधित: