Q.1 Calculation Efficiency and Capacity ratio from the following figures:
Standard time per unit
Actual hours worked
Q.2 KPR Limited operates a system of standard costing
BUDGETS AND BUDGETARY CONTROL
Q.1 Explain briefly the concept of flexible budget.
Ans: flexible Budget: A flexible budget is defined as a budget which, by recognizing the difference between dazed, semivariable and variable cost is designed to change in re
Q.1 A mineral is transported from two mines - 'A' and 'B' and unloaded at plots in a Railways Station. Mine A is at a
distance of 10 kms. And B is at a distance of 15 kms. From railhead plots. A fleet of lorries of 5 tonne carrying
On 1.4.2010, Sundry had 25,000 equity shares of X Ltd. at a book value of RS.15 per share (Face value Rs.10).
On 20.6.2010, he purchased another 5,000 shares of the company at Rs.16 per share. The directors of X Ltd.
announced a bo
JOINT PRODUCTS & BY PRODUCTS
Q.1 Pokemon Chocolates manufactures and distributes chocolate products. It purchases Cocoa beans and
processes them in to two intermediate products :
Chocolate powder liquor base
Milk - chocolate liquor base.
These two inter
ACCOUNTS FROM INCOMPLETE RECORDS
Asset and Liabilities of Mr. X as on 31.12.2009 and 31.12.2010 are as follows:
Cash at Bank
Q.1 Following information is available regarding process A for the month of February, 1999:
Units in process as on 1.2.1999
(All materials used, 25% complete for labour and overhead)
New units introduced
JOB AND BATCH COSTING
Q.1 Describe job Costing and Batch Costing giving example of industries where these are used?
Ans: Job Costing: It is a method of costing which is used when the work is undertaken as per the customers special requirement.
When an inq
ACCOUNTIG FOR BONUS ISSUES
Q. 1 Following is the extract of the Balance Sheet of Solid Ltd. as at 31 st March, 2012:
10,00 12% Preference shares of Rs.10 each
1,00,000 Equity shares of Rs. 10 each
Issued and Subscribed capital:
Q.1 Write note on cost-plus-contracts.
Ans: These contracts provide for the payment by the contractree of the actual cost of manufacture plus a stipulated profit,
mutually decided between the two parties.
The main features of these contra