Cost and Management Accounting - Sep Rtp 2024 RTP

ABC Pvt Ltd is engaged in the manufacture of a Product Q. The product has the following standard production requirements determined by the technical team of the company post satisfactory completion of test run. Raw Material Z – 2 units @ ` 2 per unit Skilled labour of – 2.5 hours@ ` 5 per hour Fixed Overheads – ` 7.5 per unit The input of Raw material Z has a yield of 80% everytime when infused into production. The actual…

The accountant for Brilliant Tools Ltd applies overhead based on machine hours. The budgeted overhead and machine hours for the year are ` 1,30,000 and 8,000 hours, respectively. The actual overhead and machine hours incurred were ` 1,37,500 and 10,000 hours. The cost of goods sold and inventory data compiled for the year is as follows: Direct Material ` 25,000 Cost of Goods Sold ` 2,25,000 Units: WIP 50,000 and Finished Goods 75,000 What is the amount of over/under absorbed…

A hotel has 200 rooms (120 Deluxe rooms and 80 Premium rooms). The normal occupancy in summer is 80% and winter 60%. The period of summer and winter is taken as 8 months and 4 months respectively. Assume 30 days in each month. Room rent of Premium room will be double of Deluxe room. Hotel is expecting a profit of 20% on total revenue, total cost for the year is 2,66,11,200. Calculate the room rent to be charged for Premium…

The labour turnover rates for the quarter ended 30th June, 2024 are computed as 14%, 8% and 6% under Flux method, Replacement method and Separation method respectively. If the number of workers replaced during 1st quarter of the financial year 2024-25 is 36, COMPUTE the following: (i) The number of workers recruited and joined; and (ii) The number of workers left and discharged. Overheads: Absorption Costing Method

From the details furnished below you are required to compute a comprehensive machine-hour rate: Original purchase price of the machine (subject to depreciation at 10% per annum on original cost) Normal working hours for the month (The machine works for only 75% of normal capacity) 200 hours Wages to Machine-man ` 800 per day (of 8 hours) Wages to Helper (machine attendant) ` 500 per day (of 8 hours) Power cost for the month for the time worked 7 `…

Green-lush Ltd. The company manufactures three range of beauty soaps i.e. SOFTHUG- Gold, SOFTHUG- Pearl, and SOFTHUG- Diamond. The budgeted costs and production for the month of May, 2024 are as follows: SOFTHUG- Gold SOFTHUG- Pearl SOFTHUGDiamond 4,000 3,000 2,000 Production soaps (Units) Resources per Unit: Essential 60 ml ` 200/100 55 ml ` 300/100 65 ml ` 300/100 Cocoa Butter 20 g ` 200/100 g 20 g ` 200/100 g 20 g ` 200/100 g Filtered Water 30 ml…

From the following data of Appu Ltd., CALCULATE (i) Material Consumed; (ii) Prime Cost and (iii) Cost of production. Amount (`) 9 (i) Repair & maintenance paid for plant & machinery 9,80,500 (ii) Insurance premium paid for inventories 26,000 (iii) Insurance premium paid for plant & machinery 96,000 (iv) Raw materials purchased 64,00,000 (v) Opening stock of raw materials 2,88,000 (vi) Closing stock of raw materials 4,46,000 (vii) Wages paid 23,20,000 (viii) Value of opening Work-in-process 4,06,000 (ix) 6,02,100 Value…

A manufacturing company disclosed a net loss of ` 3,47,000 as per their cost accounts for the year ended March 31,2024. The financial accounts however disclosed a net loss of ` 5,10,000 for the same period. The following information was revealed as a result of scrutiny of the figures of both the sets of accounts. (i) Factory Overheads under-absorbed 40,000 (ii) Administration Overheads over-absorbed 60,000 (iii) Depreciation charged in Financial Accounts 3,25,000 (iv) Depreciation charged in Cost Accounts 2,75,000 (v)…