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horngrens accounting managerial
Questions and Answers of
Horngrens Accounting managerial
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) Sales
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
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
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
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.[Ans.: (1) B.E.P. = Re, 62,500;
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 During
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 Rs.
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) The
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
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[Ans.:
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.[Ans.: (1) M.O.S - Rs. 48,000 (2)
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 Variable Cost
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 would
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 Profit
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%[Ans.: Rs. 14,00,000]
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]
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]
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
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[Ans.: 50%.]
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[Ans.: P/V Ratio = 20%][Hint: P/V Ratio =Changes in Profit Changes in Sales ×
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[Ans.: P/V Ratio = 60%][Hint: P/V Ratio =SP-VC SP × 100, where SP = Total
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 are
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)
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 Units
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
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[Ans.: B.E.P. = 2,000 Units][Hint: B.E.P. (Units)
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
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
What do you mean by break-even chart? Explain the various methods of its preparation.
“The technique of marginal costing can be a valuable aid to management.” Discuss.
What is the main difference between absorption costing and marginal costing?
What is Break-even Point? How is it determined?
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.
Explain the term Marginal Costing and discuss its importance.
Give two reasons for the differences in profits as calculated under absorption costing and under Marginal Costing.
Define Marginal Cost and Marginal Costing.
Give four limitations of absorption costing.
Give two features of absorption costing.
Explain absorption costing.
........ is closely related to output.
The fixed costs and profit added together will make ........ .
The excess of actual sales over break-even sales is termed as..... .
The break-even point increases when fixed cost is........ .
The break-even point ........ when selling price is increased.
The intersection of ........ line and line makes the angle of incidence.
At break-even point, the contribution will be equal to ........ .
At break-even point, total cost is equal to......... .
Profit-volume ratio shows the relationship between and ......... .
Both fixed and variable costs are charged to products in case of ........ costing.
Direct costing is based on classification of costs into ........ costs.
In marginal costing stock of finished goods is valued at ........ cost.
Contribution is the difference between sales and ......... .
The technique of Marginal Costing is based on classification of costs into ........ cost.
When sales are Rs. 2 lakhs, fixed cost Rs. 30.000, P/V ratio 40% the amount of profit will be:(a) Rs. 50,000 (b) Rs. 80,000(c) Rs. 12,000.
When margin of safety is 20% and P/V ratio is 60%, the profit will be:(a) 30% (b) 33 13%(c) 12% (d) None of these.
When profit-volume ratio is 40% and sales value Rs. 10,000, the variable costs will be :(a) Rs. 4,000 (b) Rs. 6,000(c) Rs. 10,000 (d) None of these.
When fixed cost is Rs. 10,000 and P/ V, ratio is 50%, the break-even point will be:(a) Rs. 20,000 (b) Rs. 40,000(c) Rs. 50,000 (d) None of these.
Period cost means :(a) Variable Cost (b) Fixed Cost(c) Prime Cost 33 The costing method in which fixed factory overheads are added to inventory is:(a) Direct Costing (b) Marginal Costing(c)
Contribution margin is also known as: (a) Marginal Income (b) Gross Profit (c) Net Income.
Differential cost analysis can be made in the case of both absorption costing as well as marginal costing.
Profit volume ratio indicates the relationship between profit and sales.
Increase in selling price will have no effect on margin of safety.
A high margin of safety shows that the actual sales are much more than breakeven sales.
The angle formed at the intersection of the sales line and the total cost line is called as “angle of incidence”.
Break-even chart depicts cost-volume profit relationship.
Direct costing and marginal costing techniques are same in all cases.
Absorption costing is not as suitable for decision-making as marginal costing.
Semi-variable costs form a part of product cost in marginal costing.
The valuation of stock is at higher price in absorption costing as compared to marginal costing.
The fixed costs are included in the valuation of work-in-projects and finished goods stocks in case of marginal costing.
The technique of marginal costing can be used in conjunction with standard costing or budgetary control.
Download an Excel template for this problem online in MyAccountingLab or at http://www.pearsonhighered.com/Horngren.Pilchuck Company manufactures tote bags and has provided the following information
Download an Excel template for this problem online in MyAccountingLab or at http://www.pearsonhighered.com/Horngren.The US Solar Company has data for the four divisions for the year, and wants the
Download an Excel template for this problem online in MyAccountingLab or at http://www.pearsonhighered.com/Horngren. Magnolia Company produces leather shoes in three models: Medina, Ballard, and
Download an Excel template for this problem online in MyAccountingLab or at http://www.pearsonhighered.com/Horngren. Glacier Creek Textiles is planning to purchase new manufacturing equipment. The
Download an Excel template for this problem online in MyAccountingLab or at http://www.pearsonhighered.com/Horngren. The James Island Clothing Company began operations on July 1, 2018. The adjusted
Download an Excel template for this problem online in MyAccountingLab or at http://www.pearsonhighered.com/Horngren. Riverside Sweets, a retail candy store chain, reported the following
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 9.000 450 19
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 5 3
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
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 10 100
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 — 100
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. 10
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 Actual
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 Rs.
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
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
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. 15
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 per
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
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[Ans: MCV = Rs.
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
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[Ans.: (i) MVC : A = Rs. 80 (Adv.), B = Rs. 5 (Fav.); (ii)
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[Ans.: Material Mix Variance of Material Usage Variance Rs. 10 (A).]
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 2.25
Direct Labour Efficiency Variance is computed by multiplying the:(a) actual rate with the difference between standard time for standard output and actual time(b) standard rate with the difference
Direct Material Usage Variance is computed by multiplying the:(a) standard rate with difference between the standard quantity for actual output and the actual quantity(b) actual rate with the
Direct Material Price Variance is computed by multiplying the:(a) standard rate with the difference standard quantity and actual quantity of materials(b) actual quantity with the difference between
An organisation using ideal standards for standard costing purposes should expect that:(a) most variance will be unfavourable(b) employees will be strongly motivated to work harder and achieve the
Sales value variance is the difference between ------------- sales and -------------sales.
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