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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

problem 1: Bateman Co. Ltd has the given revenues and costs, for a single product that it manufactures:

a) Selling price per unit Rs 10

b) Marginal cost of Rs 6.

c) Fixed costs are Rs 60,000 per annum

Required:

a) Compute the number of units to break-even.

b) Compute the sales at break-even point.

c) As of increasing costs the marginal cost is expected to rise to Rs 6.50 per unit and fixed costs to Rs 70,000. If the selling price can’t be raised what will be the number of units needed to maintain a profit of Rs 20,000 per annum?

problem 2: X Ltd manufactures one standard product and operates a system of variance accounting by using a fixed budget. The given information for the month ended 31st October is available:

Budgeted and standard cost data are as follows:

Budgeted sales and production for the month: 10,000 units Standard cost for each unit of product:

Direct material:

X 10kg @ Rs 1 per kg
Y 5 kg @ Rs 5 per kg

Direct wages:

5 hours @ Rs 3 per hour

Actual data for the month ended 31st October:

a) Production 9,500 units sold at a price of 10% higher than that budgeted.

b) Direct materials consumed

X 96,000 kg @ Rs 1.20 per kg
Y 48,000 kg @ Rs 4.70 per kg

c) Direct wages incurred 46,000 hours @ Rs 3.20 per hour

Required:

A) Compute the Materials and Labor variances.

B) In brief describe three causes for each why Material usage and Labor efficiency variances take place.

Cost Accounting, Accounting

• Category:- Cost Accounting
• Reference No.:- M96566
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