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rchgiri

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CSoC King

CS EP NS P2 Cost & Management Accounting > MCQ

rchgiri

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CSoC King
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(a) Materials cost and factory cost are Rs. 2,38,000 and Rs. 4,30,000 respectively. If the factory overhead is absorbed at 60% of direct labour cost, then find the direct labour cost and factory overhead separately.

(b) If BEP is Rs. 39,00,000 at 65% level of sales and profit is Rs. 8,40,000 at 100% level of sales, find out the P/V ratio.

(c) If the fixed cost per unit is Rs. 40 at 40% level of capacity what should be fixed cost per unit at 80% level of capacity?

(d) Standard cost of material for output of 2,600 units is Rs. 71,500 and actual output is 2,550 units. If material mix variance is Rs. 1,095 adverse, find out material usage variance.

(e) The budgeted annual sales of a firm are Rs. 80 lakhs and 25% of the sales are cash sales. If the average amount of debtors of the firm is ` 5 lakhs, what will be the average collection period of credit sales?

(f) Sheena Ltd. is committed to supply 25,000 instruments per annum to Karishma Ltd. on regular basis. It is estimated that inventory holding cost per instrument per month amounts to 20 paise and that set up cost per run of instrument manufacturing is Rs. 330. What should be the optimum run size for instrument manufacturing?

(g) A company has 1,000 units of obsolete items which are carried in inventory at the original purchase price of Rs. 36,000, although their market value as scrap is only Rs. 4,000. If the items are re-worked for Rs. 12,000,they can be sold for Rs. 22,000. Find the relevant cost for selling the items.

rchgiri

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Answer to the above

(a)
Direct Labour cost = Rs. 1,20,000
Factory Overhead= Rs.72,000

(b) P/V = Profit/ MOS = 8,40,000/21,00,000 = 40%

(c) Fixed cost per unit = Rs.20

(d) Material Usage Variance =Rs. 2,470(Adv)

(e) Average collection period of credit sales = 1 month.

(f) The optimum run size for instrument manufacturing = 2622 units.

(g)The relevant cost for selling the items=Rs. 16000

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