#### How was Today COST & FM PAPER

Page no : 7

PRABHJOT KAUR (Chartered Accountant) (56 Points)
Replied 10 May 2010

Hi ,,, paper was easy bt it was too lenghty and was required proper concept knowledge....

Ashwani (N) (76 Points)
Replied 10 May 2010

WAC=11.63

Prachi Jindal (CA-Article-Final-Student)   (129 Points)
Replied 10 May 2010

i can only pray to get passing marks this time....such a bad paper for me...left for 30 marks....not sure abt attempted one...!

manoj shah (CA>IPCC CS>PROFESSIONAL)   (97 Points)
Replied 10 May 2010

# very tricky and lengthy

Mohit K (Student of CA Final) (89 Points)
Replied 10 May 2010

!!!!! damn LENGHTY PAPER !!!!!

Very poor time management from my side !!

Gaurav (CA FINALIST) (66 Points)
Replied 10 May 2010

Prachi just leave it & concentrate on d

NEXT PAPER

CA Ruben Balooni (Professionalism ™) (1324 Points)
Replied 10 May 2010

question says :- provision for contigencies @ 10% of net working capital including such provision

let, prov for contigencies = x

3750000+x=net working capital including such provision

x = 10% (375000+x)

x = 37500+0.1x

0.9x=37500

x = 41667

therefore working capital reqd = 375000+41667 = 416667..

Gaurav (CA FINALIST) (66 Points)
Replied 10 May 2010

AND JUST SAY ALL ISS   WELLLLLLLLLLL........

CA Karan Joshi (ACA) (149 Points)
Replied 10 May 2010

hey...

comment if right or wrong..!!!

i want to knw how come some answers on d thread r different...plz give the calculations...

Anubhav Jain (busy) (734 Points)
Replied 10 May 2010

friends pls concentrate on the next papers and fulfill ur deficiency of this paper if any in the next by securing more marks in tax & it sm

sarvesh (Owner) (23 Points)
Replied 11 May 2010

Sales: 3000000

GP: 3000000*25%=750000

COGS: 3000000-750000=2250000

Cogs/stock=6

Stock=375000

Cogs/FA=1.5

FA: 1500000

FA/NW=1.5

NW: 1250000

ESC: 781250

Reserves: 468750

Fixed charge bearing capital/Net worth=0.5

Fixed Charge Bearing Capital (Debt or PSC): 625000

Assuming no bank overdraft: (CA-Stock)/CL=1

(CA/CL)-(375000/CL)=1

1.5-(375000/CL)=1

0.5=375000/CL

CL=750000

CA=1125000

Other CA= 1125000-500000-375000=250000

Balancesheet

Eq. Sh. Capital                       781250   Fixed Assets         1500000

Reservers                               468750  Stock                        375000

Debt/PSC                                625000   Debtors                 500000

CL                                           750000  other CA                 250000

Sachin (student) (214 Points)
Replied 11 May 2010

MY BALANCE SHEET TALLIED BUT I HAVE NOT SHOWN CA SEPRATELY... I HVE SHOWN CURRENT ASSET 1125000..

HOW MUCH MARKS WILL BE DUDUCTED???

RITIK (STUDENT) (113 Points)
Replied 11 May 2010

Process A/c question was from RTP.

aravind (ipcc) (49 Points)
Replied 11 May 2010

costing paper for ipcc and pcc are same????????????

Dimple (Student) (364 Points)
Replied 11 May 2010

Damn Easyy  but  lenghthy...