Or
(b) What are various
tools and techniques used in Management Accounting? Explain.
Q. 2. (a) Describe in
detail the procedure of buying materials
for an industrial concern.
or
(b) During the first week of December, 2008, the workman Sir Ranjit Kumar manufactured 300 Articles. He receives wages for a
guaranteed 48 hour week at the rate of
Rs. 4 per hour. The Estimated time to
produce one article is 10 min and under
the incentive scheme the time Allowed is
increased by 20% Calculate his gross
wages according to :
(i)
Piece- work
with a guaranteed weekly wage.
(ii)
Rowan Premium Bonus, and
Q. 3. (a) From the
following information, prepare a statement of cost and profit :
Direct Materials: Rs. 45,000
Direct Labour : 1/3 of direct Material Cost.
Direct
Expenses: 20% of direct material and
direct labour cost.
Factory
Overhead: 1/9 the of prime cost.
Office
and Abministrative Overheads
: 25% of works cost.
Selling
and Distribution Overheads : 10% of cost
of goods sold.
Units
Produced : 100 units
Unsold
units: 10% of units produced
Or
(b) Describe the
various methods of ascertaining profit in respect of a contract which is still
incomplete.
Or
J. K Fabrication Ltd. provides the following information : Solution available here
Fixed Cost Rs.
4,000
Break-Even Sales Rs. 10,000
You are required to
calculate the following:
(a)
Profit / Volume ratio
(b)
Profit when sales are Rs. 20,000
(c)
Sale to earn a profit of Rs. 6000.
(d)
What will be now Break –Even
point of sales if selling price is reduced by 20% ?
Q.5. (a) What will is a Cash Budget ? what are its objects and advantages?
Or
(b) A factory engaged
in manufacturing plastic basket is working at 40% capacity and produces
10,000 baskets per year. The
present cost break up of one basket is as Under:
Particualars
|
Amount
|
Material
Labour
Factory overheads (60% fixed)
The selling price per
bucket
|
10
3
5
20
|
If it is decided to work this factory at 50%capacity, the
selling price falls by 3% At 90%
capacity, the selling price falls by 5% accompanied by a similar fall in prices
of materials.
You are required to calculate the profit at 50% and 90%
capacities. Solution available here