Interested to Buy Any Domain ? << Click Here >> for more details...
1. During the current period, ABC Ltd sold 60,000 units of product at Rs. 30 per unit. At the beginning for the period, there were 10,000 units in inventory and ABC Ltd manufactured 50,000 units during the period. The manufacturing costs and selling and administrative expenses were as follows: Total cost Number of units Unit cost Rs. Rs. Beginning inventory: Direct materials 67,000 10,000 6.70 Direct labour 1,55,000 10,000 15.50 Variable factory overhead 18,000 10,000 1.80 Fixed factory overhead 20,000 10,000 2.00 Total 2,60,000 26.00 Current period costs: Direct materials 3,50,000 50,000 7.00 Direct labour 8,10,000 50,000 16.20 Variable factory overhead 90,000 50,000 1.80 Fixed factory overhead 1,00,000 50,000 2.00 Total 13,50,000 27.00 Selling and administrative expenses: Variable 65,000 Fixed 45,000 Total 1,10,000 Instructions: 1. Prepare an income statement based on the variable costing concept. 2. Prepare an income statement based on the absorption costing concept. 3. Give the reason for the difference in the amount of income from operations in 1 and 2.
3 64192. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
2282What would be journal entry for--Encashed a bank draft belonging to X? Ans as given in textbook is Bank account debit to Cash account credit.......But shouldnt it be Cash account debit to Bank account credit...Wat do u guys feel??And do explain ur answers..Thnx in advance
6323hi to all.... what is the treatment for Work-In-Progress in Tally...please answer for it as early as possible... thanks & regards
PWC,
2134Is it possible to change the accounting period under Indian GAAP from 1/Apr-31March to 1/January-31/December? There is any restriction in doing that, i mean for example for fisal purposes? Thank you all!
3 5442Need to know the treatement of Pre-Operative Expenses and preliminary expenses. How would you differentiate these two?
1 11274using examples, examine the relevance of the following as final accouting adjustments; 1.reserves 2.provisions 3.disposal of assets 4.control accounts
1902Post New Accounting General Questions
What is account payee cheque? Expand ctc cheque?
Who owns the general ledger?
Differentiate accounting and auditing?
Explain the Realisation concept and Accounting concept? why do you prepare p/l appropriation account? 4 difference b/w public and private caompany? How do you calculated closing stock in tradind a/c? Contents an invoice receipt? classification of Error as per accounting? Diff btwn Satutory audit & Internal audit? Diff b/w reserves for bad debts and provision for bad debts? Where the Bank book and the Cash book will not reconcile? When will the Cash book have a credit balance?
salary payable deduct tds entry
how to see reoprt of miro booking in SAP FI
Do you know what is the importance of team work in this position?
i wana give an interview as sr. excise officer what r the question will asked by interviewer ??? Please suggest me so I can clear inteview.thank u
can any body tell me the procedure to learn accountancy with easy tips.i.e., layman accounting policy and rules of debit and credit.
Mention what are things will not be included in a bank reconciliation statement?
in tally ,professional fees head will come under which income group ,direct or indirect if the business of owner is designing work or related to creativity
What is purchase returns accounting
What is the entry to be passed on receiving the tds certificate in the books of the deductee?
Knowing what you know now, walk me through what you would do differently to drive even more success?
my brother is out of country i have lost his bank passbook when i was going to bank for the entries is their essential to take duplicate pass book can my brother is present for this.
