Costing & FM paper PCC/IPCC may 2010

IPCC 4638 views 27 replies

Paper was lenghty...

FM was tough i feel.

Replies (27)

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(•ิ.•ั)

plz tell me q.2 mr. nitesh .....

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

Costing & FM Paper is gone!!!!!!!!!!!!!!!!!!!

Now please suggest something for TAX?????????????????????????????????

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)

process is rtp sum???? which year?

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


BY: www.anshulbafna.blogspot.com

 

URGENT PLS

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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