CONTACT: PRAKASH
Mob:
+919741410271
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.
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.
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
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.
CONTACT: PRAKASH
Mob:
+919741410271
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