Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Cost Accounting Expert

problem 1: A factory employs a job costing system. The given cost data are available from the books for the year ended 31st March:
                                                                Rs.
Direct material                                        9,00,000
Direct wages                                          7,50,000
Profit                                                    6,09,000
Selling and distribution overheads               5,25,000
Administrative overheads                          4,20,000
Factory overheads                                  4,50,000

Required:

a) Make a cost sheet pointing out the prime cost, works cost, cost of sales and sales value.

b) In the present year, the factory has received an order for a number of jobs. It is estimated that the direct materials would cost Rs. 12,00,000 and direct labor Rs. 7,50,000. What would be the price for these jobs if the factory intends to earn the similar rate of profit on sales, supposing that the selling and distribution overheads have gone up by 15%? The factory recovers its factory overheads as a percentage of the direct wages and its administrative and selling and distribution overheads as a percentage of works costs, based on the cost rates common in the prior year.

problem 2: Component SW-10X is made completely is machine shop No. ASW-II. Material costs Rs. 20 per component. Each component takes 6 minutes to generate and the machine operator is paid Rs. 15 per hour. Machine hour rate is Rs. 72 per hour.

The setting up of the machine to generate the component takes 3 hours for the operator. You are required to make cost sheets exhibiting the setting up costs and the production costs both in totals (that is, for the batch) and per component, supposing a batch size of:

a) 100 components
b) 150 components and
c) 200 components

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M98478

Have any Question? 


Related Questions in Cost Accounting

Requirementsdo not use any direct quotes andor cut and

Requirements: Do not use any direct quotes and/or cut and pasted information (i.e. your discussion is to be 100% your thoughts, ideals and insights). A minimum 350 words are required (this is the minimum and totally feel ...

Questionyou are just from attending a conference on

QUESTION You are just from attending a conference on Activity Based Costing (ABC) and you now wish to put your knowledge to practice by applying the principles of ABC to the four products currently made and sold by your ...

Cost behaviordetermining cost behavior please respond to

Cost Behavior Determining Cost Behavior: Please respond to one of the following: Option 1 Choose a company that interests you. It could be your current employer, a past employer, or even a future employer. Compare and co ...

For your assignment you will apply the fundamental concepts

For your Assignment, you will apply the fundamental concepts of accounting and finance that you are studying to complete several problems indicative to real-world business scenarios and challenges. For this Assignment, t ...

Cost accounting- little debbie brownieshere is a copy of

Cost Accounting- Little Debbie Brownies Here is a copy of the assignment. My snack of choice is the Little Debbie Fudge Brownies Comprehensive Product Costing Select your favorite drink or snack item manufactured by a pu ...

Final project milestone three guidelinesoverview

Final Project Milestone Three Guidelines Overview: Classifying a company's costs allows for an in-depth analysis of the impact that changes in output have on revenues, costs, and net income or net loss. A cost-volume-pro ...

Assignment discussion-cost accumulation systemwhen

Assignment: Discussion-Cost Accumulation System When companies accumulate costs, they generally use either a job-order or a process costing system. The type of system used often varies based on the type of product or ser ...

Write 500 words that respond to the following

Write 500 words that respond to the following questions: • Discuss what absorption, variables, and throughput costing are. • Determine when each would be used. • Provide an explanation and example of all three.

Problem 1 master budgetomega inc has developed the

Problem 1: Master Budget Omega, Inc. has developed the following sales forecast for the first six months of the coming year Month Sales (in units) January 30,000 February 50,000 March 70,000 April 80,000 May 60,000 June ...

Question 1pringle company distributes a single product the

Question 1. Pringle Company distributes a single product. The company's sales and expenses for a recent month follow:   Total    Per Unit   Sales $ 300,000   $ 20        Variable expenses   210,000     14          Contri ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro