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please tutors guide me on this question Q.65. Process B had no opening inventory. 13,500 units of raw material were transferred in at Rs 4.50

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Q.65. Process B had no opening inventory. 13,500 units of raw material were transferred in at Rs 4.50 per unit. Additional material at Rs1.25per unit was added in process. Labour and overheads were Rs 6.25 per completed unit and Rs 2.50 per unit incomplete. If 1 1,750completed units were transferred out, what was the closing inventory in Process B? (a) Rs. 6562.50 (b) Rs. 12,250.00 (c) Rs. 14,437.50 (d) Rs. 25,375.00 Q.66. A process costing system for J Co used an input of 3,500Kg of materials at Rs20 per Kg and labour hours of 2,750 at Rs25 per hour. Normal loss is 20% and losses can be sold at a scrap value of Rs5per Kg. Output was 2,950 Kg. What is the value of the output? (a) Rs 142,485 (b) Rs 146,183 (c) Rs 149,746 (d) Rs 152,986 Q.67. In process costing, if an abnormal loss arises, the process account is generally (a) Debited with the scrap value of the abnormal loss units (b) Debited with the full production cost of the abnormal loss units (c) Credited with the scrap value of the abnormal loss units (d) Credited with the full production cost of the abnormal loss units Q.68. Which of the following statements is/are correct? 1. A materials requisition note is used to record the issue of direct material to a specific job. 2. A typical job cost will contain actual costs for material, labour and production overheads, and non -production overheads are often added as a percentage of total production cost 3. The job costing method can be applied in costing batches (a) (1) only (b) (1) and (2) only (c) (1) and (3) only (d) (2) and (3) only Q.69. A job is budgeted to require 3,300 productive hours after incurring 25% idle time. If the total labour cost budgeted for the job is Rs36,300. What is the labour cost per hour( to the nearest cent)? (a) Rs 8.25 (b) Rs 8.80 (c) Rs 11.00 (d) Rs 14.67 Q.70. A company calculates the prices of jobs by adding overheads to the prime cost and adding 30% to total costs as a profit margin. Job number Y256 was sold for Rs1690 and incurred overheads of Rs 694. What was the prime cost of the job? (a) Rs 489 (b) Rs 606 (c) Rs 996 (d) Rs 1300 Q.71. State which of the following are the characteristics of service costing. 1. High levels of indirect costs as a proportion of total costs 2. Use of composite cost units 3. Use of equivalent units (a) (1) only (b) (1) and (2) only 15 of 22 (c) (2) only (d) (2) and (3) onlyQ.72. Which of the following organisations should not be advised to use service costing? (a) Distribution service (b) Hospital (c) Maintenance division of a manufacturing company (d) A light engineering company Q.73. Calculate the most appropriate unit cost for a distribution division of a multinational company using the following information. Miles travelled 636,500 Tonnes carried 2,479 Number of drivers 20 Hours worked by drivers 35,520 Tonnes miles carried 375,200 Cost incurred 562,800 (a) Rs .88 (b) Rs 1.50 (c) Rs 15.84 (d) Rs28, 140 Q.74. The following information is available for the W hotel for the latest thirty day period. Number of rooms available per night 40 Percentage occupancy achieved 65% Room servicing cost incurred Rs. 3900 The room servicing cost per occupied room-night last period, to the nearest Rs, was: (a) Rs 3.25 (b) Rs 5.00 (c) Rs 97.50 (d) Rs 150.00 Q.75. A company makes a single product and incurs fixed costs of Rs. 30,000 per annum. Variable cost per unit is Rs. 5 and each unit sells for Rs. 15. Annual sales demand is 7,000 units. The breakeven point is: (a) 2,000 units (b) 3,000 units (c) 4,000 units (d) 6,000 units Q.76. A company manufactures a single product for which cost and selling price data are as follows: Selling price per unit - Rs. 12 = Variable cost per unit - Rs. 8 Fixed cost for a period - Rs. 98,000 Budgeted sales for a period - 30,000 unitsInformation for Q.77 to Q.79: Information concerning A Lid.'s single product is as follows: Selling price - Rs. 6 per unit Variable production cost - RS. 1.20 per unit Variable selling cost - Rs. 0.40 per unit Fixed production cost - Rs. 4 per unit Fixed selling cost - Rs. 0.80 per unit. Budgeted production and sales for the year are 10,000 units. Q.77. What is the company's breakeven point: (a) 8,000 units b) 8,333 units (c) 10,000 units (d) 10,909 units Q.78. How many units must be sold if company wants to achieve a profit of Rs. 11,000 for the year? (a) 2,500 units (b) 9,833 units (c) 10,625 units (d) 13,409 units Q.79. It is now expected that the variable production cost per unit and the selling price per unit will each increase by 10%, and fixed production cost will rise by 25%. What will be the new break even point? (a) 8,788 units (b) 11,600 units (c) 11,885 units (d) 12,397 units Q.80. A company's break even point is 6,000 units per annum. The selling price is Rs. 90 per unit and the variable cost is Rs. 40 per unit. What are the company's annual fixed costs? (a) Rs. 120 (b) Rs. 2,40,000 (c) Rs. 3,00,000 (d) Rs. 5,40,000 Q.81. Capital gearing ratio is (a) Market test ratio (b) Long-term solvency ratio (c) Liquid ratio (d) urnover ratio Q.82. After inviting tenders for supply of raw materials, two quotations are received as follows- = Supplier P Rs. 2.20 per unit, Supplier Q Rs. 2.10 per unit plus Rs. 2,000 fixed charges irrespective of the units ordered. The order quantity for which the purchase price per unit will be the same- (a) 22,000 units (b) 20,000 units (c) 21,000 units (d) None of the above.Q.83. In case of joint products, the main objective of accounting of the cost is to apportion the joint costs incurred up to the split off point. For cost apportionment one company has chosen Physical Quantity Method. Three joint products 'A', 'B' and 'C' are produced in the same process. Up to the point of split off the total production of A, B and C is 60,000 kg, out of which 'A' produces 30,000 kg and joint costs are Rs. 3,60,000. Joint costs allocated to product A is (a) Rs. 1,20,000 (b) Rs. 60,000 (c) Rs. 1,80,000 (d) None of the these Q.84. A transport company is running five buses between two towns, which are 50 kms apart. Seating capacity of each bus is 50 passengers. Actually passengers carried by each bus were 75% of seating capacity. All buses ran on all days of the month. Each bus made one round trip per day. Passenger kms are: (a) 2,81,250 (b) 1,87,500 (c) 5,62,500 (d) None of the above Q.85. The cost per unit of a product manufactured in a factory amounts to Rs. 160 (75% variable) when the production is 10,000 units. When production increases by 25%, the cost of production will be Rs. per unit. (a) Rs. 145 (b) Rs. 150 (c) Rs. 152 (d) Rs. 140 Q.86. In 'make or buy' decision, it is profitable to buy from outside only when the supplier's price is below the firm's own (a) Fixed Cost (b) Variable Cost (c) Total Cost (d) Prime Cost Q.87. A budget which is prepared in a manner so as to give the budgeted cost for any level of activity is known as: (a) Master budget (b) Zero base budget ((c) Functional budget (d) Flexible budget Q.88 is also known as working capital ratio. (a) Current ratio (b) Quick ratio ((c) Liquid ratio (d) Debt-equity ratio Q.89. is a summary of all functional budgets in a capsule form. (a) Functional Budget (b) Master Budget (c) Long Period Budget (d) Flexible Budget Q.90. is a detailed budget of cash receipts and cash expenditure incorporating bo revenue and capital items. (a) Cash Budget (b) Capital Expenditure Budget (c) Sales Budget (d) Overhead Budget

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