Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Cost Accounting Expert

problem 1) Differentiate between the following:

a) Cost Control and Cost Reduction

b) Cost Allocation and Cost Absorption

c) Controllable Cost and Uncontrollable Cost.

problem 2) Describe the terms Minimum level, Maximum level and Ordering level with regard to maintenance of stock. What are the factors to be taken into account in fixing these levels. Discuss the relevance of these concept in a manufacturing organization.

problem 3) A Machine was purchased on January 01, 2000, For Rs. 5 lakhs. The total cost of all machinery inclusive of the new machine was Rs. 75 lakhs. The following future particularare available; Expected life of the machine 10 Years.

Scrape value at the end of the ten year Rs. 2,000

Repairs and maintaining for the machine during the year Rs 4,000 hours.

Insurance premium annually for all machine Rs 4,500.

Electricity consumption for the machine per hour @ 75 paise per unit 25 units.

Area occupied by the machine 100 sq.ft.

Area occupied by the other machines 1,500 sq.ft.

Rent per month of the departments Rs. 800.

Lighting charges for 20 points for the whole department, out of which three points are the machine Rs. 120 per month.

find out the machine hour rate for the new machine on the basis of the data given above.

problem 4) Paramount Engineers are engaged in construction and erection of a bridge under a long term contract. The cost incurred up to 31/03/2013 was as under:

Fabrication                                    Rs. in lakhs
Direct Materials                                 280
Direct Labour                                    100
Over heads                                         60
Erection cost to date                          110

The contract price is Rs. 11 crores and the cash received on account till 31/03/2013 was Rs. 6 crores. A technical estimate of the contract indicates the following degree of completion of work:

Fabrication: Direct Material-70%, Direct Labour and Overheads 60%, Erection: 40%. You are required to estimate the profit that would be taken to Profit and Loss Account against this partly completed contract as at 31/03/2013.

problem 5) Management Accounting is called "Accounting as a tool of Management". What are these tools? Also discuss briefly the functions and Scope of Management Accounting.

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M94839

Have any Question? 


Related Questions in Cost Accounting

Accounting assignment1 punch products inc is considering

Accounting Assignment 1. Punch Products, Inc. is considering purchasing a new production machine and has assembled the following information from two vendors of the machine that it is considering buying:   A Products B P ...

Discuss cost management as a professionname three

Discuss cost management as a profession Name three professional cost management organizations and explain their roles. Where in the corporate, not for profit, areas would cost accountants work and what types of work woul ...

Assignment1 the following information is from the

Assignment 1. The following information is from the manufacturing budget and the budgeted financial statements of Fabor Fabrication: Compute the budgeted amounts for: a. Purchases of direct materials during the year. b. ...

Assignment cost accountingoverviewthe final project for

Assignment: Cost Accounting Overview The final project for this course is the creation of a quantitative analysis with a memo to management. Classifying a company's costs allows for an in-depth analysis of the impact tha ...

Case questions rio grande medical center cost allocation

CASE QUESTIONS RIO GRANDE MEDICAL CENTER Cost Allocation Concepts 1. Is it "fair" for the Dialysis Center to suffer in profitability, and hence for the department head to possibly lose his bonus, just because the Outpati ...

Accounting1 lisa inc estimates that its employees will

Accounting 1. Lisa Inc. estimates that its employees will utilize 200,000 direct labor hours during the coming year. Total overhead costs are estimated to be $6,700,000 and machine hours are estimated to be 100,000. Actu ...

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 ...

Question 1 high-low methodtucson tractor inc has

Question 1 High-low method Tucson Tractor Inc. has accumulated the following data over a six month period   Indirect Labor Hours Indirect Labor Costs January......................... 400 $ 6,000 February................. ...

Polarisreading the case and answer the all question polaris

Polaris Reading the case and answer the all question: Polaris: Suggested assignment questions Why does the Polaris outsource the manufacture of most components but in-source final assembly? Which manufacturing location o ...

Cost of capital assignment questions -1 what does the cost

Cost of Capital Assignment Questions - 1. What does the cost of capital represents? What is should reflect? 2. How do taxes affect the cost of debt? 3. What are the retained earnings? Do they have any costs for the firm? ...

  • 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