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business
management cost accounting

Questions and Answers of Management Cost Accounting

Define lead time.
(a) Briefly discuss the problems that occur in constructing cost estimation equations for estimating costs at different output levels.(b) Describe four different cost estimation methods and for each
Discuss the conditions that should apply if linear regression analysis is to be used to analyse cost behaviour.
‘In the control of divisional operations within a large company, conflicts often arise between the aims of the organization as a whole and the aspirations of the individual divisions.’What forms
‘Motivation is the over-riding consideration that should influence management in formulating and using performance measures, and in designing management control systems.’Discuss this statement in
‘The final impact which any accounting system has on managerial and employee behaviour is dependent not only upon its design and technical characteristics but also in the precise manner in which
The accountant’s approach to cost–volume–profit analysis has been criticized in that, among other matters, it does not deal with the following:(a) Situations where sales volume differs
Product R has a contribution to sales ratio of 30%.Product S has a contribution to sales ratio of 20%.Product T has a contribution to sales ratio of 25%.Monthly fixed costs are £100 000. If the
Discuss the arguments for and against the inclusion of fixed overheads in stock valuation for the purpose of internal profit measurement.
In product costing, the costs attributed to each unit of production may be calculated by using either:(i) Absorption costing,(ii) Marginal (or direct or variable) costing.Similarly, in departmental
Explain how the apportionment of those costs incurred up to the separation point of two or more joint products could give information that is unacceptable for (i) Stock valuation (ii)
Discuss the problems that joint products and by-products pose the management accountant, especially in his attempts to produce useful product profitability reports. Outline the usual accounting
(a) Explain briefly the term ‘joint products’ in the context of process costing.(b) Explain briefly the concept of ‘equivalent units’ in process costing.
A factory has three departments (P1, P2 and P3) and two service departments (S1 and S2). Budgeted overheads for the following year have been allocated/apportioned by the cost department among the
A company is having three production departments, X, Y and Z, and two service departments, boiler house and pump room. The boiler house depends upon the pump room for supply of water and pump room in
A company has three production departments and two service departments; their respective expenditures are as follows: Production departments A-Rs 800 Service departments X-Rs 234 B-Rs 700 C-Rs 500
A manufacturing concern has three production departments and two service departments. In July 1990, the departmental expenses were as follows: Rs Production departments A 16,000 B 13,000 C 14,000
A company has three production departments A, B and C and two service departments X and Y. The following information is available regarding various expenses:The services of departments X and Y are
A company has three production departments A, B and C and two service departments X and Y. The expenses incurred by the departments during a month are as follows:Show clearly how the expenses of
In a factory, there are two service departments P and Q and three production departments A, B and C.In April, the departmental expenses were as follows:Prepare a statement showing the distribution of
A factory has three service departments L, M and N and two production departments X and Y. The following are the expenses allocated and apportioned to the departments as per the primary distribution
A manufacturing company has two production departments, X and Y, and three service departments, timekeeping, stores and maintenance. The departmental distribution summary showed the following
Amit Company has five departments of which P, N, R and S are producing departments and T is a service department. The actual costs for a period are as follows: Repairs Rent Depreciation Supervision
Calculate the overheads that can be allocated to the production departments A and B. There are also two service departments X and Y. X renders service worth Rs 12,000 to Y and the balance to A and B
A company has four departments. The actual costs for the period are given as follows. Apportion the costs to the various departments by the most equitable method. Rs Rent Repairs 2,000 1,200
Calicut Soaps Ltd. supplies you the following information for the month ending on January 1988. You are required to apportion the overheads to the production departments:The expenses (in rupees) for
Kumaresh Ltd. has three production departments A, B and C and two service departments D and E. The following figures are extracted from the records of the company:Apportion the cost to various
From the following information, work out the production hour rate of recovery of overheads in departments A, B and C: Production departments Service departments Particulars Total A B D E Rent (Rs)
A manufacturing company has three production departments and two service departments. The departmental expenses are as follows:Prepare a statement showing the apportionment of overheads of the two
A company has three production departments and two service departments, and for a period the departmental distribution summary has the following totals:Prepare a statement showing the apportionment
Vasanth Engineering & Co. has three production departments and two service centres. The overhead analysis gives the following overhead costs:You are required to prepare secondary distribution
An analysis of overhead costs is as follows:Service rendered by the service department isPrepare the overhead distribution summary under the simultaneous equations method. Service departments:
You are supplied the following information and required to prepare secondary distribution summary under the trial-and-error method. Overhead as per primary distribution: Production departments A B
A company reapportions the costs incurred by its two service centres D and E to its three production centres A, B and C. The following are the overhead costs, which have been allocated and
A company has three production departments and two service departments. The distribution summary of overheads is as follows:The expenses of service departments are charged on a percentage basis as
The following particulars relate to a manufacturing company, which has three production departments A, B and C and two service departments X and Y:The company decided to charge the costs of its
A company has three production departments and two service departments, and for a period the departmental distribution summary has the following totals:The expenses of service departments are charged
The following details are available for the month of May 1998 relating to two service departments A and B and two production departments R and S:Prepare a summary of overhead distribution under the
Bulls & Bears Ltd. has three production departments A, B and C in its factory. They are served by two service departments D and E. D is the purchasing department and E is the timekeeping
PH Ltd. is a manufacturing company having the production departments A, B and C and two service departments X and Y. The following is the budget for December:A technical assessment for the
Modern Machines Ltd. has three production departments (A, B and C) and two service departments (D and E). From the following figures extracted from the records of the company, calculate the overhead
PH Ltd. is a manufacturing company having three production departments A, B and C and two service departments E and Y. The following is the budget for December 1994:Additional information:A technical
Using the repeated distribution method, solve the following problem: (a) Service department A-expenses are to be allocated in the ratio 30:30:20:20 to production departments X, Y and Z and the
Janak Ltd. has two production departments M and N and two service departments R and S. After primary distribution, the following were the departmental overheads for the month of March 1998:A detailed
Tamil Nadu Co. Ltd. is a manufacturing company having three production departments, A, B and C, and two service departments X and Y. The following is the budget for December 1985:A technical
Modern company has three production departments A, B and C and two service departments D and E.The following is an abstract from the records of the company for the month of March 1993:The following
Calculate the overheads allocated to production departments A and B. There are also two service departments X and Y. X renders service worth Rs 12,000 to Y and the balance to A and B in the ratio
The following data were obtained from the books of a company for the half year ending on 30 June 1995:The expenses for six months were: stores overhead—Rs 400; motive power—Rs 1,500; electric
Apportion the overheads among the departments A, B, C and D.Additional information: Works manager's salary Contribution to PF Plant maintenance Canteen expenses Rs Rs 4,000 Power 21,000 9,000
Modern Co. is divided into four departments. A, B and C are producing departments, and D is a service department. The actual costs for a period are as follows:The following information is available
A producing concern Krishna is divided into four departments. A, B and C are production departments and D is a service department. The actual expenses for a period are as followsThe following
The factory of a large manufacturing company has several departments. Indicate the bases you would adopt for apportionment of the following overhead expenses to various departments: (1) Indirect
Calculate the earnings of workers A, B and C under Merrick’s multiple piece-rate system from the following particulars: Normal rate per hour Standard time per unit Output per day is as follows: Rs
What will be the earnings of a worker at Rs 5.50 per hour when he takes 140 hours to do a volume of work for which the standard time allowed is 200 hours? The plan of bonus is on sliding scale as
Calculate the amount of wages and bonus for a worker from the following particulars: Job commenced: Monday, 24 December 1994 at 8 a.m. Job finished: Saturday, 29 December 1994 at 1 p.m.
Labour hourly rate: Calculate the labour hour rate of a worker P from the following data:Number of working days in a year is 300.Thirty days full-pay leave and 20 days half-pay leave in a year is
Calculation of earnings of workers and their allocation to jobs: Calculate the earnings of A and B from the following particulars for a month and allocate the labour cost to each job X, Y and Z:The
Calculate the normal and overtime wages payable to a worker form the following data:Normal working hours are 8 per day, and normal rate is Rs 5 per hour. Overtime rate is up to 9 hours in a day at
From the following particulars, prepare a statement of labour cost showing the cost per day (8 hours): (a) Monthly salary: Rs 4,500 (b) Leave salary: 5% of basic salary (c) Employer's contribution to
Calculate the normal and overtime wages payable to a worker from the following data: Days Monday Tuesday Wednesday Thursday Friday Saturday Total Hours worked 8 hours 10 hours 9 hours 11 hours 9
From the following particulars, prepare labour cost per man-day of 8 hours: (a) Basic salary (b) DA (c) Leave salary (d) Employer's contribution to PF (e) Employer's contribution to state insurance
Standard output per day of 8 hours is 16 units. Actual output of a worker for 8 hours is 20 units. Rate per hour is Rs 2.50. Calculate the wages payable to the worker according to Emerson’s
From the following particulars, you are required to work out the earnings of a worker for a week under(a) straight piece-rate system, (b) differential piece-rate system, (c) Halsey’s premium scheme
From the following data, calculate the total monthly remuneration of three workers A, B and C under the Gantt’s task and bonus scheme: (a) Standard production per month per worker is 1,000 units
Calculate the earnings of workers A and B under straight piece-rate system and Taylor’s differential piece-rate system from the following particulars: Normal rate per hour = Rs 1.80 Standard time
Calculate the earnings of workers A and B from the following particulars for a month and allocate the earnings of each to jobs X, Y and Z:The normal working hours for a month are 200.Overtime is paid
From the following data prepare a statement showing the cost per day 8 hours of engaging a particular type of labourers. (a) Monthly salary [Basic + DA] Rs200 (b) Leave salary payable to the workers
From the following particulars, calculate the labour cost per man-day of 8 hours: (a) Basic salary: Rs 5 per day (b) DA: 20 paise per every point over 100 (cost of living index for workers); current
From the following particulars, prepare a statement showing the labour cost per man-day of 8 hours: (a) Basic salary: Rs 2 per day (b) DA: 25 paise for every point over 100 (cost of living index for
From the following details, ascertain the amount of cash required for the payment of salaries in a firm for the month of January: (1) Normal time salaries: Rs 65,000 (2) DA: 20% of (1) (3) Leave
From the following particulars, prepare the labour cost per man-day of 8 hours: (a) Basic salary: Rs 55 per day (b) DA: Re 0.50 per every point over 100 (cost of living index for working class);
From the following particulars, you are required to prepare a statement of labour cost showing the cost per day: (i) Monthly salary: Rs 1,350.00 (ii) Leave salary: 5% of salary. (iii) Employer's
From the following particulars, find the amount of cash required for giving wages in a factory for a particular month: (i) Wages for normal hours worked (ii) Wages for overtime (iii) Leave wages (iv)
In a factory, group bonus system is in use, which is calculated on the basis of earnings under time rate.The following particulars are available for a group of four workers P, Q, R and S:Output of
What will be the earnings of a worker at Re 0.55 per hour when he takes 140 hours to do a volume of work for which the standard time allowed is 200 hours? The plan of payment of hours is on a sliding
From the following particulars, calculate the earnings of two workers, A and B, under (a) straight piecerate system and (b) Taylor’s differential piece-rate system: Standard time per unit: 36
Calculate the earnings of workers A and B under (a) straight piece-rate system and (b) Taylor’s differential piece-rate system from the following particulars:Worker A produces 800 units per day and
Calculate the earnings of a worker under (a) Rowan’s premium bonus system and (b) Halsey–Weir premium bonus system (50% of the time saved) from the following particulars: (a) Hourly rates of
Calculate wages as per Barth’s variable-sharing plan. Standard time for a job Actual time taken Standard rate per hour 50 hours 40 hours Rs 10
In a manufacturing company, the daily wage rate guaranteed for a worker is Rs 25 and the standard output fixed for the month is 1,000 units, representing 100% efficiency. The daily wage rate is paid
On the basis of the following information, calculate the earnings of X and Y under the straight piecerate system and Taylor’s differential piece-rate system: Standard production: 10 units per hour
From the following information, calculate the bonus and earnings under Emerson’s efficiency bonus plan:If the actual output is 240 units, what will be the amount of bonus and earnings? Standard
From the following particulars, you are required to work out the earnings of a worker for a week under(a) straight piece-rate system, (b) differential piece-rate system, (c) Halsey’s premium scheme
From the following particulars, work out the earnings for the week of a worker under (a) straight piecerate system, (b) differential piece-rate system, (c) Halsey’s premium system and (d) Rowan’s
In a manufacturing concern, the daily wages guaranteed for workers is Rs 20.The standard output for the month is 1,000 articles, representing 100% efficiency. The rate of wages is paid without
Calculate the earnings of A and B under the straight piece-rate basis and Taylor’s differential piece-rate system from the following information: Standard production: 10 units per hour Factory day:
Calculate the earnings of a worker from the following information as per Halsey’s plan: (a) Standard time: 12 hours; Actual time: A-10 hours, B-8 hours and C-6 hours Hourly rate: Rs 8. (b) Hourly
Calculate the earnings of three workers A, B and C under Merrick’s plan of piece-rate system, given the following: Standard production: 120 units Production of A: 90 units Production of B: 100
Set out a comparative statement showing the effect of paying wages on (a) Halsey and (b) Rowan premium plans assuming the following: Standard time: Hourly wage rate: Time taken: Overhead rate per
Calculate the earnings of workers A and B under the straight piece-rate system and Taylor’s differential piece-rate system from the following particulars:Hint: Assume normal working day of 8 hours.
From the following particulars, calculate the earnings of workers A and B under the piece-rate system: Standard time allowed: 10 units per hour Normal time rate per hour: Re 1 Differential to be
Rajan Ltd. follows Taylor’s differential piece-rate system, 80 and 120 being the differentials for belowstandard and above-standard work. From the following data, ascertain the earnings of workers
Prepare a store ledger account by adopting the weighted average method of pricing. 1 September 1997 Opening balance Issued Purchased Issued 48952 15 22 on 9 September 30 Issued 10 units to production
From the following particulars, prepare the store ledger account showing the pricing of material issue under (a) simple average and (b) weighted average: December 1994 1 357 6 9275 12 17 Opening
The following particulars have been extracted for material X. Prepare a store ledger account showing the receipts and issues, pricing the materials issued on the basis of (a) simple average and (b)
Prepare a store ledger account and enter the following transactions adopting the simple average method of pricing issues: 1985 1 February Opening balance Issued 5 7 Purchased 9 Issued 19 Purchased 20
Prepare a statement showing how the issues would be priced under LIFO method: 1998 1 February Opening balance 100 units at Rs 10 each 1 February Received 2 February Received 4 February Issued 6
The ‘Receipts’ side of the stores ledger account shows the following particulars:Issues of the materials are as follows:Write the stores ledger account pricing the issues on the principle of FIFO
From the following particulars, prepare the stores ledger under the LIFO method: 1 December Stock in hand 500 units at Rs 20 2 December Issued 3 December Purchased 200 units 150 units at Rs 22 4
The following receipts and issues were made for a material during the month of May 1993:Assume that base stock is 200 units out of the opening stock; use FIFO method.Hint: Base stock of 200 units at

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