Saturday 18 February 2017

A manufacturing concern which has adopted standard costing furnishes Following Information: Standard Material for 70 kg of Finished Products 100 kg Price of Materials @1 per per Kg Actual: Output 2,10,000 Kg Materials used 2,80,000 Kg Cost of materials ` 2,52,000


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Cost & Management Accounting

1. Mr. Albert the owner of Raghullila, a manufacturing company is puzzled about how to put a check on the materials in and out and for that he decides to maintain periodic accounts. Discuss which method of accounting for material control he should adopt? Give sufficient reasons to support your answer. (10 Marks )

2. You being on the board of advisory of Simplex Ltd are of the opinion that in order to evaluate the performance of our company management accounting is as important as financial accounting. Support your views by explaining the nature and objectives of management accounting. (10 Marks )

3. A) A manufacturing concern which has adopted standard costing furnishes
Following Information: Standard Material for 70 kg of Finished Products 100 kg
 Price of Materials @1 per per Kg
Actual: Output 2,10,000 Kg
Materials used 2,80,000 Kg
 Cost of materials ` 2,52,000
Calculate (a) Material Usage Variance (b) Material Price Variance (c) Material Cost Variance (5 Marks)

3. B) A worker takes 6 hours to complete a job under a scheme of payment by results. The standard time allowed for the job is 9 hours. His wage rate is Rs.15 per hour. Material cost of the job is Rs.120 and the overheads are recovered at 15% of the total direct wages. Calculate the wages under
A] Rowan and
B] Halsey system of incentive system.   (5 Marks )


Assignment Solutions, Case study Answer sheets
Project Report and Thesis - Contact


www.mbacasestudyanswers.com

ARAVIND – 09901366442 – 09902787224


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