Paper was lenghty...
FM was tough i feel.
Paper was lenghty...
FM was tough i feel.
Process - 1 | |||||||
Particulars | Total | Cost | Profits | Particulars | Total | Cost | Profits |
Op. Stock | 150000 | 150000 | Transfer to | 1080000 | 810000 | 270000 | |
Materials | 300000 | 300000 | PR. II | ||||
Wages | 224000 | 224000 | |||||
Less: Cl. Stock | -74000 | -74000 | |||||
Prime Cost | 600000 | 600000 | |||||
Overhead | 210000 | 210000 | |||||
Total Stock | 810000 | 810000 | |||||
Add : 33.33% | 270000 | 270000 | |||||
Totals | 1080000 | 810000 | 270000 | Totals | 1080000 | 810000 | 270000 |
Process - 2 | |||||||
Particulars | Total | Cost | Profits | Particulars | Total | Cost | Profits |
Op. Stock | 180000 | 150000 | 30000 | Transfer to | 2250000 | 1515000 | 735000 |
From Pr-1 | 1080000 | 810000 | 270000 | FG | |||
Materials | 315000 | 315000 | |||||
Wages | 225000 | 225000 | |||||
Less: Cl. Stock | -90000 | -75000 | -15000 | ||||
Prime Cost | 1710000 | 1425000 | |||||
Overhead | 90000 | 90000 | |||||
Total Stock | 1800000 | 1515000 | |||||
Add : 25% | 450000 | 450000 | |||||
Totals | 2250000 | 1515000 | 735000 | Totals | 2250000 | 1515000 | 735000 |
Finished Stock | |||||||
Particulars | Total | Cost | Profits | Particulars | Total | Cost | Profits |
Opening Stock | 450000 | 285000 | 165000 | By Cost | 2800000 | 1650000 | 1150000 |
From Pr -2 | 2250000 | 1515000 | 735000 | of Sales | |||
Less: Cl. Stock | -225000 | -150000 | -75000 | ||||
2475000 | 1650000 | 825000 | |||||
Profit | 325000 | 325000 | |||||
Totals | 2800000 | 1650000 | 1150000 | Totals | 2800000 | 1650000 | 1150000 |
Originally posted by : ๑(•ิ.•ั)๑uttam๑(•ิ.•ั) | ||
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plz tell me q.2 mr. nitesh ..... |
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For 2nd sum i guess we need to claim escalation only for the increase in prices and not for material inefficiencies...
Originally posted by : Basanti | ||
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Costing & FM Paper is gone!!!!!!!!!!!!!!!!!!! Now please suggest something for TAX????????????????????????????????? |
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Tax -
u being a PCC stud concentrate on service tax & Vat only basic i would suggest go trough ICAI's material for IDT - u can easily get 25 marks
and for direct tax just keep preparing no other way out..
I Follow TG Suresh's material - now u dont have time so just stick to what u know be conversant with the latest amendments.. thats all - all the best..
Compound Amount = 75000 (8/200)power 10
75000*1.48 = 111000
interest = 36000
Component | Weight | Rate | Cost |
Equity | 50.00 | 15.00 | 7.50 |
Preference | 13.33 | 8.00 | 1.07 |
Retained Earnings | 20.00 | 11.00 | 2.20 |
Debentures | 16.67 | 6.30 | 1.05 |
(9*.7) | 11.82 |
Particulars | June | July | August | September | |
Opening Balance | 45000 | 45500 | 45500 | 45000 | |
Cash receipt | |||||
Cash Sales - 20% Of Current Month sales | 100000 | 98000 | 108000 | 122000 | |
Collection from Debtors | 348000 | 380000 | 396000 | 412000 | |
Dividends Received | 25000 | 0 | 0 | 0 | |
Cash Available | 518000 | 523500 | 549500 | 579000 | |
Payment to Suppliers | 200000 | 210000 | 260000 | 282000 | |
Payment of Overheads | 40000 | 38000 | 37500 | 60800 | |
Payment of Wages | 162500 | 165000 | 165000 | 167500 | |
Interest | |||||
Installment | 0 | 20000 | 20000 | 20000 | |
Income Tax | 0 | 0 | 15000 | 0 | |
Fixed Deposits | 70000 | 45000 | 7000 | 3000 | |
Closing Balance | 45500 | 45500 | 45000 | 45700 | |
Sales | 500000 | 490000 | 540000 | 610000 | |
Sale in April | 420000 | 168000 | 0 | 0 | 0 |
Sale in May | 450000 | 180000 | 180000 | 0 | 0 |
Sale in June | 500000 | 0 | 200000 | 200000 | 0 |
Sale in July | 490000 | 0 | 0 | 196000 | 196000 |
Sale in August | 540000 | 0 | 0 | 0 | 216000 |
Sale in September | 610000 | 0 | 0 | 0 | 0 |
348000 | 380000 | 396000 | 412000 |
answer for question 3(b)
thanks a lot for sending the process a/c
can anyone please upload the paper of cost fm of pe2 ?
WHO IS RESPONSIBLE FOR THIS BLUNDER...
PLEASE SEE
/forum/who-is-responsible-for-this-blunder--82380.asp
Anyone tell me how much marks will i get in this paper.
answers:
Q2.material variances are correct but not verified.
Q3a.Process-I ac is correct.Process-II ac is bit correct
Q3b.Only answer i.e. (SalesTot passenger km) not calcul;ated..rest done.
Q6.b/s is correct...w/c requirement went wrong.
Q7b.only dividend figure went wrong and due to it balances went wrong.rest sales, purchases,wags,exp,tax and other figures are correct.
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