Q-1 What is cost accounting? Discuss its objectives and advantages. Discuss Methods and Techniques of Costing....

 

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Q-1 What is cost accounting? Discuss its objectives and advantages. Discuss Methods and Techniques of Costing. OR Q-1 (A)Suresh Ltd furnishes you the following data relating to the year 2018: Sales Total cost First Half of the year (Rs.) (i) The P/V Ratio, (iii) (ii) Fixed Expenses (iv) 45000 40000 Assuming that there is no change in prices and variable cost and that the fixed expenses are incurred equally in the two half year period, calculate for the year, 2018 Second Half of the year (Rs.) 50000 43000 Break-even sales Percentage of Margin of safety. (B) A company has a capacity of producing 1 lakh units in a month. The sales department given following information. Volume of Production % 60 70 80 90 100 Selling Price Per Unit Rs. 0.90 0.80 0.75 0.67 0.61 The variable cost is 15 paise per unit and fixed cost is Rs. 40,000. Prepare a statement showing incremental revenue and differential cost at each stage. At which volume of production will the profit be maximum? (C)Manan Ltd. furnish the following information: Annual fixed costs Rs. 1,40,000. Sales 2018 Rs. 6,00,000, Sales 2017- Rs. 4,50,000 and profit in 2018 was Rs.42,000 higher than that in 2017. Calculate (i) Breakeven point (ii) Profit or loss when sales is Rs. 8,00,000 (iii) If there is a reduction in selling price by 10% in 2019 and the company desires to earn the same amount of profit as in 2018, what would be the required sales volume? Q-1 What is cost accounting? Discuss its objectives and advantages. Discuss Methods and Techniques of Costing. OR Q-1 (A)Suresh Ltd furnishes you the following data relating to the year 2018: Sales Total cost First Half of the year (Rs.) (i) The P/V Ratio, (iii) (ii) Fixed Expenses (iv) 45000 40000 Assuming that there is no change in prices and variable cost and that the fixed expenses are incurred equally in the two half year period, calculate for the year, 2018 Second Half of the year (Rs.) 50000 43000 Break-even sales Percentage of Margin of safety. (B) A company has a capacity of producing 1 lakh units in a month. The sales department given following information. Volume of Production % 60 70 80 90 100 Selling Price Per Unit Rs. 0.90 0.80 0.75 0.67 0.61 The variable cost is 15 paise per unit and fixed cost is Rs. 40,000. Prepare a statement showing incremental revenue and differential cost at each stage. At which volume of production will the profit be maximum? (C)Manan Ltd. furnish the following information: Annual fixed costs Rs. 1,40,000. Sales 2018 Rs. 6,00,000, Sales 2017- Rs. 4,50,000 and profit in 2018 was Rs.42,000 higher than that in 2017. Calculate (i) Breakeven point (ii) Profit or loss when sales is Rs. 8,00,000 (iii) If there is a reduction in selling price by 10% in 2019 and the company desires to earn the same amount of profit as in 2018, what would be the required sales volume?

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