All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Hire a Tutor
AI Study Help New

Search
Sign In
Register

study help
business
management cost accounting

Questions and Answers of Management Cost Accounting

The following is the summary of the receipts and issues of materials in a factory during February:Issues are to be priced on the principle of FIFO. The stock verifier of the factory noticed that on
From the following transactions, prepare stores ledger account (using the FIFO method): October 1 Opening balance is 100 units at Rs 5 each 2 20 Received 500 units at Rs 6 each Issued 300 units
Prepare a store ledger account from the following information adopting the FIFO method of pricing of issues of materials:Hint: Returns from departments on 14 and 27 March are to be assumed out of the
From the following particulars, prepare the stores ledger account under the FIFO method of pricing issues:Hint: Returned material of 10 units is shown like a fresh receipt at the original issue price
The following information is extracted from the stores ledger:Issues are to be priced on the principle of FIFO. Write the stores ledger account. 1 September Opening balance 500 units at Rs 10 122 6
The following were the receipts and issues of a material during March:From the aforementioned details, write the stores ledger account on simple average basis following the FIFO method. 1 March 3 4 8
Show the stores ledger entries as they would appear when using the (a) weighted average method and(b) LIFO method of pricing issues in connection with the following transactions:In a period of rising
The following transactions occur in the purchase and issue of a material:Prepare stores ledger account using the (a) simple average method and (b) weighted average method. 2 January 20 Purchased
From the following particulars, prepare stores ledger account showing the pricing of material issues under (i) simple average and (ii) weighted average methods: 2 August 1983 Opening stock 800 units
XY Ltd. purchased and issued materials in the following order:Ascertain the quantity of closing stock as on 31 March and state its value under the weighted average cost method. March 1985 1 Purchased
The following transactions took place for a material item:Prepare a priced ledger sheet, pricing the issues at weighted average rate. Date 2 March 1980 10 March 1980 Receipt quantity Rate (Rs) Issue
The following transactions took place for an item of a material:Record the aforementioned transactions in the stores ledger, pricing issues at simple average rate. 2 March 1982 Receipt quantity KGS
Explain the following two methods of pricing of material issues and also the circumstances under which these methods are used: FIFO and LIFO Draw a stores ledger card recording the following
From the following particulars, write the stores ledger card:Adopt base stock method with LIFO. Base stock is 200 ton out of the 1 January purchase. 1990 1 January Purchased 10 Purchased 500 ton at
From the following information, prepare a store ledger account under specific pricing with FIFO:Hint: The lot purchased on 5 April was reserved and issued to the specific job on 15 April. 1 April
Prepare a stores ledger account from the following transactions assuming that the issue of stores has been priced on the LIFO principle: January 1 January 10 January 20 February 4 February March
In the beginning of October 1994, Bangalore Tin Co. had 10,000 lb of tin at Rs 2 per lb. Further purchases were made during the month as follows:The issues to manufacture were as follows:Write the
From the following transactions, prepare separately the stores ledger account, using the (i) FIFO and(ii) LIFO methods:Stock verification on 15 March revealed a shortage of 10 units. 1 January 5 20 5
From the following transaction, prepare separately the stores ledger accounts, using the (i) FIFO and(ii) LIFO pricing methods: January January January February February 20 -5256 March 10 March 12 1
Enter the following transactions in the stores ledger of material Y using the (i) FIFO and (ii) LIFO methods:Note: May 1980 1 3 6 7 8 12 15 23 18 20 26 28 30 Balance of 250 units at Re 1 per unit
The following are the receipts and issues of coal in a factory during March 1994:The maximum level fixed is 400 tonne, the minimum is 75 tonne and the reorder level is 100 tonne.Show the stores
The following information is provided by Coorg Coffee manufacturing unit for the fortnight of April 1996:Calculate the value of material consumed during the period under LIFO method. Material A Stock
From the following particulars, prepare a stores ledger by adopting the LIFO method: Date Receipts 1 January 1990 300 units at Rs 10 per unit Issues 10 200 units at Rs 12 per unit 15 250 units 18 200
From the following particulars, write the stores ledger card:Adopt the FIFO method of issue and ascertain the value of closing stock. ST 1 January 5 Opening stock is 1,000 units at Rs 26.00 each
A clothing manufacturer commenced business on 1 January 1989. Textile materials used by the manufacturer include two types: M and N. During the six months till 30 June 1989, purchases were as
The following is the record of receipts and issues for a certain material in a factory during a week:At what prices will you issue the materials? Use two important methods for this purpose and show
The following transactions are recorded in respect of materials used in a factory during April 1984:Issues are to be priced on the principle of FIFO. The stock verifier noted that on 15 April he
Write a stores ledger card in the proper form making use of the following particulars, pricing issues on the principle of FIFO:The stock verifier found a shortage of 10 units on 30 January and left a
The following information is extracted from the stores ledger:Issues are to be priced on the principle of FIFO. Write the stores ledger account. 1 January 5 Opening balance Purchases 500 units at Rs
In a manufacturing firm, a material is used as follows:Calculate (a) reorder level, (b) minimum level, (c) maximum level and (d) average stock level. Maximum consumption Minimum consumption Normal
Calculate (a) EOQ, (b) maximum level, (c) minimum level and (d) reordering level from the following data:Inventory carrying cost is 20% of unit value. Reorder period Maximum consumption Minimum
From the following particulars, calculate (a) reorder level, (b) minimum level and (c) maximum level: Normal usage Minimum usage 100 units per day 60 units per day Maximum usage 130 units per day EOQ
Two components A and B are consumed as follows:Calculate for each component (a) minimum level, (b) maximum level and (c) average stock level. Normal usage Minimum usage 100 units per week each 50
Two components X and Y are used as follows:Calculate for each component (a) reorder level, (b) minimum level, (c) maximum level and (d) average stock level. Normal usage Maximum usage Minimum usage
Two components X and Y are used as follows:Calculate for each component (a) reorder level, (b) minimum level, (c) maximum level and (d) average level. Normal usage Minimum usage Maximum usage Reorder
Find EOQ when the annual consumption is 6,000 kg. Ordering cost is Rs 120 per order. Price per kilogram is Rs 20 and the carrying cost is 20%. Also ascertain the frequency of placing orders.10a. Find
From the following particulars, calculate EOQ and the number of orders per annum. Annual requirement Cost of materials per unit Cost of placing and receiving one order Annual carrying cost of
Calculate EOQ. Also state the number of orders to be placed in a year.Storage costs 8% on average inventory. Consumption of material per annum Cost of material per kilogram Order placing costs per
An engineering company consumes 50,000 units of a component per year. The ordering, receiving and handling costs are Rs 3 per order, whereas the trucking costs are Rs 12 per order. Further details
A manufacturer buys certain equipment from outside suppliers at Rs 30 per unit. Total annual needs are 800 units. The following further data are available: Determine the EOQ. Annual return on
A car-making company buys 2,000 steel parts at Rs 140 per part for assembly. The buying cost per order is Rs 35.The inventory carrying cost is Rs 14 per unit per year, calculated as follows: Return
Calculate the economic ordering quantity from the following information: Consumption of material per annum Ordering cost per order Cost per kilogram of raw material Store cost 10,000 kg Rs 2 8% on
Calculate EOQ from Annual consumption Ordering cost Carrying cost Price per unit 600 units Rs 12 per order 20% Rs 20
Calculate economic ordering quantity from the following particulars: Annual requirement Cost of material per unit Cost of placing and receiving one order Annual carrying cost of inventory is 10% of
From the following data, find (a) reorder level and (b) reorder quantity: Maximum stock level Budgeted consumption Maximum Minimum 16,800 units 3,000 units per month 1,600 units per month Estimated
The following information is available for component D: Maximum stock level Budgeted consumption: 8,400 units
The following information pertaining to a firm is available:Calculate inventory levels. Annual consumption Cost per unit Cost per order Inventory carrying cost Lead time (maximum, normal and
Two components X and Y are used as follows:Calculate for each of the components (a) reorder level, (b) minimum level and (c) maximum level. Normal usage Minimum usage Maximum usage Reorder quantity
From the following data for the last 12 months, compute the average stock level for a component: Maximum usage in a month 300 numbers Minimum usage in a month 200 numbers Average usage in a month 225
From the following information, calculate reorder level, maximum stock level and minimum stock level: Reorder quantity Minimum stock level to allow for emergencies Average delivery time from
Calculate reorder level, minimum stock level, maximum stock level and average stock level from the following information: Normal usage Maximum usage 300 units per week Minimum usage Reorder period
Calculate maximum level, minimum level and reordering level from the following data: Reorder quantity Reorder period 1,500 units 4-6 weeks Maximum consumption 400 units per week Normal consumption
Calculate minimum stock level, maximum stock level and reordering level from the following details: Minimum consumption Maximum consumption Normal consumption 120 units per day 100 units per day 150
In a manufacturing concern, material X is used as follows:Calculate (a) reorder level, (b) minimum level, (c) maximum level, (d) danger level and (e) average stock level. Maximum consumption Minimum
From the following data for the last 12 months, compute reorder level, minimum level and average stock level of a stock item: Maximum usage in a month Minimum usage in a month Average usage in a
From the following information, calculate maximum, minimum, and average stock levels:In a manufacturing firm, a material is used as follows:Calculate (a) reorder level, (b) minimum level, (c) maximum
From the following information, calculate (a) maximum stock level, (b) minimum stock level, (c)reorder level and (d) average stock level: Minimum consumption Maximum consumption Normal consumption
From the following, for material A calculate (a) reorder level and (b) minimum level: Reorder quantity Minimum stock level to allow for emergencies Average delivery time from suppliers Maximum stock
You are required to compute the economic ordering quantity with the help of the following details: Material usage per month Buying cost per order Storage and carrying cost Rs 1,600 Rs 40 15% of
Find EOQ from the following particulars: Annual usage Cost of placing and receiving one order Annual carrying cost Rs 1,20,000 Rs 60 10% of inventory value
From the following data, you are required to determine EOQ:Storage and carrying costs as percentage of average inventory holding 15%. Annual usage Cost per unit Buying cost 8,000 units Re 0.30 Rs 7
Calculate EOQ from the following particulars:Hint: Carrying cost of Rs 2 per unit can be directly used in the formula without any reference to cost per unit. Annual usage Cost of materials per unit
From the following information, determine EOQ: Annual consumption Cost per unit Buying cost per order Cost of carrying inventory 90,000 units Rs 50 Rs 10 10% of cost
Calculate EOQ from the following particulars: Annual usage 20,000 units Buying cost per order Rs 10
Calculate EOQ for the following data: Annual consumption Order cost Cost price per unit Storage and carrying cost 600 units Rs 12 per order Rs 20 20%
Find EOQ given the following: Monthly usage Buying cost Cost per unit Storage cost 150 units Rs 2 per order 0.32 paise 25% per annum
From the following information, find EOQ and the number of orders placed in a year:Storage and carrying cost as a percentage of average inventory 12%. Annual consumption Buying cost per order Price
A manufacturer buys certain equipment from outside suppliers at Rs 30 per unit. Total annual needs are 800 units. The following further data are available:Determine the economic order quantity Annual
From the following data, find EOQ: Annual usage Cost per unit Buying cost Carrying cost 6,000 units Re 0.30 Rs 7 per order 15% of average inventory holding
The following figures are taken from the books of a firm for the year ended on 1994. The valuation of inventory is Re 1 per kilogram or litre. Items Opening stock Purchases Closing stock Material X
For a factory, the following figures have been obtained for 1989:A work order was executed in 1990 and the following expenses were incurred: materials—Rs 16,000 and wages—Rs 10,000.Assuming that
The company Cooling Limited manufactured and sold 1,000 refrigerators in the year ending on 31 December 1997. The summarized trading, profit and loss account is as follows:For the year ending on 31
Prepare a cost sheet for 1986 from the following details showing the total cost and cost per unit. The number of units produced is 2,000:The closing stock of finished goods is 120 units. Profit is
Gopal furnishes the following data relating to the manufacture of a standard product during the month of April 1984:You are required to prepare a cost sheet from the aforementioned data showing (a)
From the following data relating to the manufacture of a standard product during the month of September 1983, prepare a statement showing the cost and profit per unit: Raw material used Direct wages
From the following particulars of product X, compile the cost sheet for the month of March 1991: Raw material: Opening stock Purchases Closing stock Direct labour Factory overheads Office and
The directors of a manufacturing business require a statement showing the production results of the business for the month of March 1994. The cost accounts reveal the following information:You are
The following data are related to the manufacture of a standard product during the month of April 1984:You are required to prepare a cost sheet with respect to the preceding data showing (a) cost per
From the following particulars, you are required to prepare a statement showing (a) the cost of materials consumed, (b) prime cost, (c) works cost, (d) total cost and (e) cost of sales and profit
The following extracts of costing information related to commodity A for the half-year ending on 31 December 1993:Selling and distribution overheads are Re 1 per ton sold. A total of 16,000 tons of
The Modern manufacturing company submitted the following information on 31 March 1993: Rs Sales for the year 2,75,000 Inventories at the beginning of the year: Finished goods 7,000
The following information is obtained from the records of a factory for the period from 1 June to 30 June:Prepare statement on cost of production of goods manufactured, statement of cost of
A factory produces 100 units of a commodity. The cost of production is as follows:Factory overheads are 125% on wages, and office overheads are 20% on works cost. Expected profit is 25% on
Gopal furnishes the following data relating to the manufacture of a standard product during the month of April:You are required to prepare a cost sheet from the aforementioned data showing(a) the
A manufacturer presents the following details about the various expenses incurred by him:Classify the aforementioned expenses under the various elements of cost, showing separately the total
From the following information, prepare a cost sheet for the month of January: Rs Rs Stock of raw materials on 1 January 25,000 Stock of raw materials on 31 January 26,200 Purchase of raw materials
The following information was obtained from the cost records of Aditya Chemicals Ltd. for 1998:No office and administration expenses were incurred during 1988. Prepare a statement of cost for the
A company received an enquiry for the supply of 10,000 steel folding chairs. The costs are estimated as follows:Prepare a statement showing the price to be fixed that will result in a profit of 20%
From the following particulars, prepare a statement showing the components of total sales and the profit for the year ending on 31 December. Rs Stock of finished goods (1 January) 6,000 Stock of raw
From the following details relating to Kannan Ltd. for the quarter ending on 31 March 1999, prepare a cost sheet showing profit or loss for the quarter: Particulars Wages Factory expenses Stock of
From the following particulars, prepare a statement showing (a) prime cost, (b) works cost, (c) cost of production and (d) cost of sales:Also show by what percentage the average selling price in the
From the following information, prepare a cost sheet for the month of December 1989: Rs Stock on hand-1 December 1989: Raw materials 25,000 Finished goods 17,300 Stock on hand-31 December 1989: Raw
From the trading account of a concern, prepare a cost sheet showing the cost of materials, used prime cost, cost of goods sold and profit per unit.Trading account for the year ending on 31 December
From the following particulars, prepare a cost sheet showing the components of total cost and profit for the year ended 31 December 1994. Stocks on 1 January 1994: Rs Raw materials 2,500 WIP 822
The following details relating to a factory are available for the month of March 1999:It is customary to fix the selling price by adding 20% to the total cost. Prepare a cost sheet showing the profit
The following data are extracted from Pavan Kishore for the year 1991:Managing director’s remuneration is allocated as follows: Rs 4,000 to the factory, Rs 2,000 to the office and Rs 6,000 to the
Prepare a statement showing cost and profit from the following details, clearly showing (a) prime cost,(b) works cost, (c) cost of production, (d) cost of sales and (e) profit: Particulars Rs
The following details are obtained from the cost records of Comet Paints Limited:Prepare a production account giving the maximum possible break-up of costs and profit. Rs Stock of raw materials on 1
The following particulars are extracted from the books of a manufacturing company:Out of 48 hours in a week, time devoted by the manager to the factory and the office was on average 40 hours and 8
The following data are extracted from the books of M/s. Moonshine Industries Ltd. for the calendar year 1994:Managing director’s remuneration is to be allocated as follows: Rs 4,000 to factory, Rs

Showing 100 - 200 of 2229

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved