Q.

5 (A)

Period form 20__ to 20__

COST ITEMS
Direct materials
Direct wages
Chargable expenses
PRIME COST
ADD: factory Overheads
Factory Cost/ Works Cost
ADD: Office Overheads
Cost of Goods Manufactured
Add: opening finished goods
less: closing finished goods
Cost of Production of FG sold
Add: S&D expenses
Cost of Sale
ADD: Profit
Sale

cost
AMOUNT (Rs.)
20,000
30,000
2,000
52,000

-50

Q. 5 (b)
Opening stock of FG
add: Production
Less:Closing stock
Total Finished goods sold
Cost per unit sold
Total Selling expense

3,000
30,000
-5,000
28,000

5
140,000

Q.5
Prime Cost
Add: Factory Overheads
Factory cost
Add: Office Overheads
Cost of Production

400,000
240,000
640,000
80,000
720,000

Q4
Period form 2011 to 2012
COST ITEMS
Direct materials
Direct wages
Chargable expenses

cost
AMOUNT (Rs.)
320,000
800,000
-

PRIME COST
ADD: Fixed factory Overheads
Add: Variable Factory Overheads
Factory Cost/ Works Cost
ADD: Fixed Administrative Overheads
Add: Variable Administrative Overheads
Cost of Goods Manufactured
Add: opening finished goods
less: closing finished goods
Cost of Finished Goods Sold
add: Fixed S&D overhead
add: Variable S&D overhead
add: additional advertisement expenses
Cost of Goods Sold
ADD: Profit
Sale @125/unit

1,120,000
360,000
120,000
480,000
120,000
40,000
160,000
160,000
80,000
240,000

No of units

CASE 1
2,430,000
500,000
2,930,000
SP/ unit

122.08

Q1
Period : March, 2012
COST ITEMS
Direct materials
Direct wages
Chargable expenses
PRIME COST
ADD: factory Overheads
Factory Cost/ Works Cost
ADD: Office Overheads

cost
AMOUNT (Rs.)
80,000
48,000
128,000

Cost of Goods Manufactured

Add: opening finished goods
less: closing finished goods
Cost of Production of FG sold
Add: S&D expenses
Cost of Sale
ADD: Profit
Sale

4,000
3,600

Q2
units

10,000

Period form 2011 to 2012

COST ITEMS
Direct materials
Direct wages
Chargable expenses
PRIME COST
ADD: Fixed factory Overheads
Add: Variable Factory Overheads
Factory Cost/ Works Cost
ADD: Fixed Administrative Overheads
Add: Variable Administrative Overheads
Cost of Goods Manufactured
Add: opening finished goods
less: closing finished goods
Cost of Finished Goods Sold
add: Fixed S&D overhead
add: Variable S&D overhead
add: additional advertisement expenses
Cost of Goods Sold
ADD: Profit
Sale @125/unit

cost
AMOUNT (Rs.)
200,000
120,000
320,000
40,000
40,000
80,000
20,000
20,000
40,000
10,000
10,000

sP

Prof
100

25
150,000

3
Raw

Foundry

WIP
O/P of foundry
WIP
O/P of machining
FINISHED O/P of Assembly

Period : xxxx
COST ITEMS
Direct materials
Direct wages
Chargable expenses
PRIME COST
ADD: factory Overheads
Factory Cost/ Works Cost
ADD: Office Overheads
Cost of Goods Manufactured
Add: opening finished goods
less: closing finished goods
Cost of Production of FG sold
Add: S&D expenses
Cost of Sale
ADD: Profit
Sale

130.00
117.00
111.15
111.15

cost
AMOUNT (Rs.)
65,000
40,000
105,000

cost
AMOUNT (Rs.)

52,000
26,000
78,000
20,000
98,000

cost

sales
75
100
98,200 130933.33333

-9,800
88,200
10,000
98,200
32,733
130,933

=640000-400000
=1/3rd of Factory overhead

cost
AMOUNT (Rs.)

Period form 2012 to 2013

AMOUNT (Rs.)AMOUNT (Rs.)
422,400
900,000
-

1,120,000

1,322,400
480,000
151,200
631,200
120,000
50,400
170,400
-

1,600,000

1,760,000

1,760,000

1,322,400

1,953,600

2,124,000

2,124,000
160,000
100,800
45,200
306,000

2,000,000
500,000
2,500,000
20,000

2,430,000

24,000

Case2

case3
2,430,000
607,500
3,037,500

2,430,000
810,000
3,240,000

126.5625
profto sale
0.2
SP
Cost
100
80
3,037,500 2,430,000
prof

607,500

cost
AMOUNT (Rs.)

128,000
32,000
160,000
16,000

135
Profit to sale
Add 25% to existing profit
Sale
100
3,240,000

176,000

158,400
5,400
163,800
16,200
180,000

15,000
cost
AMOUNT (Rs.)

Period form 2012 to 2013

AMOUNT (Rs.)AMOUNT (Rs.)
360,000
198,000
558,000
558,000
40,000
90,000
130,000
688,000
20,000
25,200
45,200
733,200
733,200
12,000
12,000
745,200
248,400
993,600

320,000

400,000

440,000

440,000

450,000
150,000
600,000
cost

sP
75
450,000

Prof
100

25
248,400

cost
75
745,200

Material cost Dir cost

65,000

tonne
tonne
tonne
tonne

20,000
5,000
15,000
40,000

cost
AMOUNT (Rs.)

105,000
60,000
165,000
165,000

165,000
165,000
165,000

OVERHEADS

30,000
20,000
10,000
60,000

AWFDRWW

case 4
2,430,000
240,000
2,670,000
111.25
0.2
0.25
cost
75
2,430,000

1
Particular
Production
Working days
Fixed OH
Variable OH
Variable OH Variance
V_OH Exp Var
V_OH Efficiency

Standard
actual
4,000
3,800
20
21
40,000
39,000
12,000
12,000

units
days
Rs
Rs

-600 A
600 F
1,200 A
-

2
Particular
Production
Working hours
Fixed OH
Variable OH

Standard
actual
400
360 units
8,000
7,000 hours
- Rs
10,000
9,150 Rs

Variable OH Variance

-150 A

V_OH Exp Var

-400 A

V_OH Efficiency

-250 F
-

3
Particular
Production
Working hours
Working days
Fixed OH
Variable OH

Standard
actual
22,000
24,000
25,000
27,000
25
26
44,000
49,000
33,000
39,000

Variable OH Variance

-3,000 A

V_OH Exp Var

-3,360 A

V_OH Efficiency

-360 F
-

units
hours
days
Rs
Rs

5
Particular
Production
Working hours
Working days
Fixed OH
Variable OH
V_OH V
V-OH EXP VAR
V-OH EFF VAR

4
v-oh
UNITS
VOH V

Standard
actual
30,000
32,500
30,000
33,000
25
26
45,000
50,000
60,000
68,000
-3,000 A
-2,000 A
1,000 A
-

BUDGETED
3,840
38,400
34 F

3,830
38,640

units
hours
days
Rs
Rs