Zero To Mastery In Accounting Become Zero To Hero In Finance And Accounting 2022 Edition HECTOR ROBINETT - Solutions

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10. Calculate:Year Sales (Rs.) Profit (Rs.)2006 4,50,000 60,000 2007 5,10,000 75,000 You are required to calculate:(i) Profit-Volume Ratio(ii) Sales at which company will neither lose nor gain(iii)
9. The following informations are available regarding a company:Budgeted Production 1,00,000 units Variable Cost Rs. 20 p.u.Fixed Costs 10,00,000 Profit 25% on Cost You are required to calculate the
8. Informations regarding Sahani Ltd. are available as follows:Rs.Sales 2,00,000 Less: Variable Costs Contribution 1,50,000 Less: Fixed Costs 50,000 30,000 Profit Rs. 20,000 You are required to find
7. Calculate from the following informations:1. P/V Ratio.2. B.E.P.3. Margin of Safety.4. Total Contribution Margin.2006 2007 Rs. Rs.Sales 1,20,000 1,80,000 Less: Variable Costs Contribution 66,000
6. Given:P/V Ratio 4%Fixed Cots Rs. 25,000 Variable Costs Rs. 20,000 Total Sales Rs. 50,000 Calculate the following:1. B.E.P.2. Contribution Margin 3. Margin of Safety.
5. You are given the following information:Material Rs. 120 per unit Labour Rs. 30 per unit Overheads Rs. 12 per unit Selling Price Rs. 270 per unit Fixed costs Rs. 14,00,000 Sales Rs. 40,50,000
4. Given:Sales Rs. 5,00,000 Variable Costs Rs. 3,75,000 Gross Profit Rs. 1,25,000 Fixed Costs Rs. 37,500 Net Profit Rs. 87,500 Calculate: (i) P/V Ratio; (ii) B.E.P.; (iii) Net Profit when sales are
3. The Sales and Profit during two years were as following:Year Sales Profit 2000 Rs. 1,50,000 20,000 2001 Rs. 1,70,000 25,000 Calculate: (i) P/V Ratio and Fixed Cost; (ii) Break-even Point; (iii)
2. From the following informations, calculate Margin of Safety :Rs.Cost of Materials (p.u.) 10 Cost of Labour (p.u.) 5 Cost of V.O.H. 5 Selling Price (p.u.) 25 Fixed Overhead Units produced and sold
1. Calculate B.E.P. from the following informations and ascertain the margin of safety:Rs.Fixed Costs for the year 2,40,000 Variable Cost p.u. 4 Sales for the year 6,00,000 Selling Price p.u. 20
18. The P/V ratio of Amit Brothers is 60% and percentage of margin of safety is 40. You are required to calculate B.E.P and profit, if the sales volume is Rs. 1,20,000.
17. Calculate from the following data:1. BEP (in Rs. )2. No. of units to be sold to earn a profit of Rs. 75,000.3. Units to be sold to earn 5% profit on sales. If:Selling P.rice (p.u.) Rs. 20
16. The following informations are available:Fixed Expenses Rs. 50,000 Variable Expenses Rs. 40 p.u.Selling Price Rs. 60 p.u.(a) Sales volume to earn a profit of Rs. 50,000(b) What additional units
15. From the following information, calculate the amount of sales to earn a profit of Rs. 50,000 :Rs.Sales 4,00,000 Less: Variable Cost 3,00,000 Contribution 1,00,000 Less: Fixed Cost 25,000 Net
14. You are required to calculate sales to earn a profit of Rs. 2,90,000, if:Fixed Cost is Rs. 60,000 P/V Ratio is 25%
13. From the following information calculate margin of safety:Year 2006 2007 P/V Ratio 25% 30%Profit Rs. 75,000 Rs. 1,20,000[Ans.: (1) For 2006-Rs. 3,00,000, (2) For 2007-Rs. 4,00,000]
12. From the following information, calculate margin of safety: Year 2006 and 2007 Year 2006 2007 P/V Ratio 20% 40%Profit Rs. 40,000 Rs. 60,000[Ans.: For 2006-Rs. 2,00,000, for 2007-Rs. 1,50,000]
11. Calculate P/V Ratio from the following information:Year Sales Profit Rs. Rs.2006 6,00,000 90,000 2007 8,00,000 1,20,000
10. From the following data, calculate P/V Ratio:p. u. Total Fixed Cost — Rs. 1,50,000 Variable Cost Rs. 10 Rs. 4,00,000 Sales 30,000 units Rs. 25 Rs. 8,00,000
9. From the following informations, calculate P/V Ratio: Year Sales Profit Rs. Rs. 2006 5,00,000 75,000 2007 7,50,000 1,25,000
8. From the following data, calculate P/V Ratio:Rs. Rs.Fixed Costs 3,00,000 Variable Cost 30 9,00,000 Sales 30,000 75 22,50,000
7. Shalimar Ltd. manufactures and sells four types of paints under the brands A, B, C and D respectively. The sales mix in value comprises of 30%, 40%, 15% and 5%respectively. Total budgeted sales
6. The following informations relate to Awkash Ltd. for the year 2007:Cost p.u.Rs.Direct Materials 60 Direct Labour 30 Variable Overhead 15 Selling Price p.u. 120 Fixed Costs 7,500 Units Sold (2007)
5. Prakash Ltd. has installed capacity of manufacturing 20,000 units per annum. It is presently at 50% of installed capacity. For the coming years the budget is as follows:Productions/Sales 16,000
4. Ascertain the B.E.P. in rupees from the following:Selling Price Rs. 25 p.u.Variable Costs Rs. 15 p.u.Fixed Costs Rs. 30,000 Units Produced 12,000 Units
3. Ascertain the B.E.P. in units from the following:Selling Price Rs. 15 p.u.Variable Costs Rs. 8 p.u.Fixed Costs Rs. 14,000 Units Produced 6,000 Units
2. Follwing are the informations regarding a factory having production of 20,000 units:Rs.Cost of Production 1,00,000 Materials 1,00,000 Wages 20,000 Variables Overheads 20,000 Fixed Overheads 40,000
1. A new product was manufactured by Anamika Ltd. and was placed for sale in three markets. Three prices were selected for testing each market. From the following informations, calculate the price to
12. What do you mean by break-even chart? Explain the various methods of its preparation.
11. “The technique of marginal costing can be a valuable aid to management.” Discuss.
10. What is the main difference between absorption costing and marginal costing?
9. What is Break-even Point? How is it determined?
8. Write short notes on:(a) Profit-volume Ratio (b) Break-even Point(c) Angle of Incidence (d) Margin of Safety(e) Contribution (f) Break-even Graph.
7. Explain the term Marginal Costing and discuss its importance.
6. Distinguish between Marginal Costing and Absorption costing.
5. Give two reasons for the differences in profits as calculated under absorption costing and under Marginal Costing.
4. Define Marginal Cost and Marginal Costing.
3. Give four limitations of absorption costing.
2. Give two features of absorption costing.
1. Explain absorption costing.
4. Fill in the blanks:(a) The technique of Marginal Costing is based on classification of costs into ........ cost.(b) Contribution is the difference between sales and ......... .(c) In marginal
3. By noting “P/V will increase or P/V will decrease or P/V will not change” as the case may be, state how the following independent situations will affect the P/V ratio:(i) An increase in the
2. From the following choose the most appropriate answer:(i) Contribution margin is also known as:(a) Marginal Income (b) Gross Profit(c) Net Income.(ii) Period cost means :(a) Variable Cost (b)
1. State whether each of the following statements is True or False:(a) The technique of marginal costing can be used in conjunction with standard costing or budgetary control.(b) The fixed costs are
18. Calculate the Material Variances and Labour Variances from the following information:Material Standard Actual Qty. Price Amount Qty. Price Amount(Kg) (Rs.) (Rs.) (Kg) (Rs.) (Rs.)A 450 20 9.000
17. The standard labour and the actual labour engaged during the month are given below:Skilled Semi-skilled Unskilled(a) Standard no. of workers in a group 30 10 10(b) Standard Rate (in Rs.) per hour
16. Calculate the different labour variances from the following information:Workers Hours Rate per hour Rs. Amount Rs.Skilled 10 3.00 30 Semi-skilled 8 1.50 12 Unskilled 16 1.00 16 34 58 The actual
15. From the following information, calculate the different labour variances:Standard Workers No. of Rate per Hrs. Amount Rs.Workers Workers Worker 100 3 100 30,000 Women 50 5 100 25,000 Boys 40 10
14. From the following information, calculate labour variances:Actual wage paid — Rs. 6000; Standard hours — 3,200;Standard hourly rate — Rs. 1.50; Actual hours paid — 3,000 hrs Idle Time —
13. A company is engaged in producing a standard mix using 60 kg of Material X and 40 kg of Material Y. The standard loss of production is 30%. The standard price of X is Rs. 5 per kg and of Y is Rs.
12. Calculate Material Variances from the following data:Standard Actual Materials Qty. Price Qty. Price(kg) (Rs.) (kg) (Rs.)A 10 8 10 7 B 8 6 9 7 C 4 12 5 11 22 24 Loss 2 Loss 3 Standard Yield 20
11. From the following calculate the Material Variances; Actual production during the period 192 units.Material A Material B Actual Price per ton Rs. 277.50 Rs. 308 Standard Price per ton Rs. 240.00
10. Design a ‘Material Cost Analysis Form and enter suitable figures from the details given below:Production for the period - 192 units.Material X Material Y Standard price per ton Rs. 480 Rs. 640
9. A company manufactures a single product. The standard mix is as under:Material A — 60% at Rs. 20 per kg Material B — 40% at Rs. 10 per kg Normal loss in production is 20% of input. Due to
8. The standard costing of a Cement Co. is as under:4 ton of material X at Rs. 20 per ton.6 ton of material Y at Rs. 30 per ton.The actual cost for a period is as under:4.5 tons of material X at Rs.
7. The standard mix to produce one unit of product is as follows:Material A = 60 units @ Rs. 15 per unit = Rs. 900 Material B = 80 units @ Rs. 20 per unit = Rs. 1,600 Material C = 100 units @ Rs. 25
6. The standard mix of product is as under:Material A - 60 units @ 15 paise per unit:Material B - 80 units @ 20 paise per unit Material C = 100 units @ 25 paise per unit.10 units of finished product
5. Calculate Material variances from the following data:Material Standard Actual Std. Qty. Rate Amount Qty. Rate Amount A 10 2 20 5 3 15 B 20 3 60 10 6 60 C 20 6 120 15 5 75 50 200 30 150
4. Find out Material variances.Materials Std. Qty. Std. Price Actual Qty. Actual Price(units) (Rs.) Units (Rs.)A 20 5 20 6 B 16 8 18 9 C 8 10 10 9 44 48
3. Find out the Material variances:Materials Std. Qty. Std. Price Actual Qty. Actual Price(Kg) (Rs.) (Kg.) (Rs.)A 50 2 60 3 B 25 5 30 4 75 90
2. Calculate Material Mix Variance:Materials Std. Qty. Std. Price Actual Qty. Actual Price(kg) (Rs.) (kg.) (Rs.)A 20 5 25 6 8 30 3 25 5
1. From the following data calculate:(i) Material Cost Variance, (ii) Material Price Variance, (iii) Material Usage Variance.Products SQ SP AQ Actual Price(Units) (Rs.) (Units) (Rs.)A 525 2.00 550
3. Choose the correct answer:(i) An organisation using ideal standards for standard costing purposes should expect that:(a) most variance will be unfavourable(b) employees will be strongly motivated
2. Fill in the blanks:(a) Variance analysis involves ------------- and ------------- of variances.(b) Variance is the difference between standard performance and------------- performance.(c) Gang
1. State whether each of the following statement is True or False:(a) Variances can be classified into controllable and uncontrollable categories.(b) All price variances are uncontrollable.(c) A cost
9. What is Standard Costing? Discuss its advantages from the manage-ment point of view.
8. Define ‘Standard Costing’. Distinguish it from ‘Budgetary Control’.
7. Write short notes on: (a) Standard Productive Hour, and (b) Standard Costing Sheet.
6. “Budgetary Control need not be accompanied by a Standard Costing System.” Discuss.
5. What is Standard Costing? Bring out clearly the relationship between Standards Costing and Budgetary Control.
4. “Cost standards indicate what cost should be incurred under desirabele operating conditions while budgeted costs indidate what costs are expected to be, recognising limitations posed by less
3. What is the essential difference between budgetary control and standard costing?
2. What are standard Costing? Why is their use preferable to comparison of actual data with past?
1. Define Standard Costing and explain its advantages and limitations.
5. Select the best answer:(i) Standard Costing are:(a) Ideal Costs (b) Normal Costs(c) Average Costs (d) Reasonable attainable Costs(ii) The type of costing which is most suitable for cost control
4. Fill in the blanks:(a) Standard Costing is a technique which aims at ------------.(b) Standard Costing are ------------.(c) The system which determines what should be the cost in advance of
3. State with reasons whether each of the statements is True or False:(a) Pre-production costing is another name for standard costing.(b) Standard costing aims at achieving maximum efficiency; hence
2. State whether each of the following statement is True or False:(a) Standard costing helps in price fixing when demand is elastic.(b) Standard costing once fixed cannot be changed.(c) Standard
1. State whether each of the following statement is True or False:(a) Standard Costing aids management in planing and control.(b) Historical Costing is not useful for ascertaining costs.(c) Standard
15. The selling expenses of a business for a particular budget period are:Particulars Rs.Sales office salaries 4,000 Fixed expenses of sales office 3,000 Amount allocated for advertisement 4,000
14. Fast Food Product Ltd. has prepared the following Sales Budget for the first five months of 2009.2009 Sales Budget (in Units)January 10,800 February 15,600 March 12,200 April 10,400 May 9,800 The
13. The following information has been made available from the records of Tata Tools Ltd. for the last six months of 2009 (and of only the sales of January 2009) in respect of product ‘X’:(i)
12. A company produces a standard product. The estimated cost per unit is given below:Materials Rs. 10 Direct Wages Rs. 8 Direct expenses Rs. 2 Variable overheads Rs. 3 Total Rs. 23 Semi-variable
11. P and Q Enterprises is currently working at 50% capacity and produces 10,000 units.Estimate the profits of the company when it works at 60% and 70% capacity.At 60% capacity the raw material cost
10. From the information given below prepare flexible budget for 60% and 80% capacities and fix the total overhead rates as a per cent on direct wages at these capacities:Particulars At 75%Variable
9. PQR Ltd. has prepared the budget for the production of lakh units of the only commodity manufactured by them for a costing-period as under:Particualrs Rs. (Lakh)Raw Material 2.52 Direct Labour
8. The cost of an article in a capacity of 5,000 units is given under P. For a variation of 25%in capacity above or below this level the individual expenses vary as indicated under Q
7. With the following data for a 60 per cent activity, prepare a budget for production at 80 per cent and 100 per cent activity. Production at 60 per cent activity – 600 units.Materials Rs. 100 per
6. Estimate the cash requirements of Mohit company for June 2009, from the following data:(A) Sales Rs.2009 February 25,000 March 20,000 April to June 30,000 per month Half of the sales are for cash.
5. From the following information prepare a cash budget from 1st January 2009 to 30th June, 2009. The cash balance on 1st January, 2009 is Rs. 1,45,000.Month Sales Materials Wages Distribu-
4. Summarised the income and expenditure forecasts for the months of March to August 2009 are given below:Month Sales Purchases Wages Manufac- Office Selling(Credit) (Credit) Rs. uring Exps. Exps.
3. PQR Co. wishes to arrange overdraft facilities with its bankers during the period April to June of a particular year, when it will be manufacturing mostly for stock.Prepare a Cash Budget for the
2. A manufacturing company sels three products P, Q and R which are as follows Product North West South P 15,220 12,500 17,560 Q 18,000 7,500 8,000 R 16,500 20,500 6,000 Sales prices are Rs. 12, Rs.
1. A manufacturing company sells two products which are manufactured in one machinery. During the year 2009, it plans to sell the following quantities of each product.Sales Budget (in units)First
31. What do you underst and bybudget ary control? How cost company hoar of dinerctors use their bydget to influence the future direction of the firm?
30. What are the prerequisites for a responsibility accounting system?
29. What is performance budgeting and what are its requisites?
28. Discuss the features of performance and performance budgeting systems.
27. What are different types of functional budgets which are prepared by a large scale manufacturing concern. Explain and illustrate the method of preparation of a sales budget or cash budget?
26. What is responsibility accounting? Why is it becoming popular?

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Zero To Mastery In Accounting Become Zero To Hero In Finance And Accounting 2022 Edition HECTOR ROBINETT - Solutions

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