material losses in cost accounting ppt

material losses in cost accounting ppt

Equivalent Production 14. You are required to prepare a statement showing the estimated profit or loss for each product and in total. Find the values of issues and resulting stocks on different dates using (i) LIFO. Total Assets value = Rs. 2. 052, on 1.1.06 and 1.7.06, respectively. The cost of material of the product is Rs. Value of stock issued on 31.12.88 = Rs. A manufacturing company has two production departments X and Y and three service departments: Store, Maintenance and Time Keeping. See our User Agreement and Privacy Policy. The worker’s day rate is Rs. 3. The cost of material of the product is Rs. By: Calculate the labour hour rate for each of the production departments: Service rendered by the service department to production departments A, B and C is in the ratio of 2: 2: 1, respectively. Normal Loss, Abnormal Loss and Abnormal Gain 13. Pre-separation point costs amounted to Rs. Content Filtrations 6. 2. The units completed by the four workers were as under: A = 950 units, B = 900 units, C = 960 units, D = 850 units. of average inventory cost. 3,000, ... Depreciation = 12% of Rs. You can change your ad preferences anytime. XYZ Ltd. obtained a contract for Rs. 5 for each 1% increase over 90% of the standard. TOS 7. The following details for January 1992 are available: Stock in processes is valued at Prime Cost and Finished Stock at the price at which it is received from process III. 7,50,000 on 1.1.06. Cost Accounting CA is a formal system of accounting for costs in the books of accounts by means of which costs of products and services are ascertained and con… The following are the details supplied by J.K. The joint products are manufactured in one common process; after which they are separated and may undergo further individual processing. and the set-up cost of production is Rs. 4.00 + 25% of Rs. (iii) Finished Stock 40,030. It is estimated that the carrying cost per T.V. Such losses or wastages are classified into two categories: 1. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. See our Privacy Policy and User Agreement for details. (a) Contract No. If you wish to opt out, please close your SlideShare account. ... EOC = √2 × 75,000 × 18/0.375 = 2,691 units (approx). 5,000 + Rs. As of this date, Scribd will manage your SlideShare account and any content you may have on SlideShare, and Scribd's General Terms of Use and Privacy Policy will apply. and Defective Items. You can change your ad preferences anytime. From the following information, find the profit made by each product apportioning joint cost on sales value basis: Product A = 1,32,000/2,20,000 × 1,67,600 = 1,00,560, Product B = 88,000/2,20,000 × 1,67,600 = 67,040. Cost Accounting Problems on Batch Costing (2 Problems): 10. Cost Accounting Books. 35,000, Overhead Rs. Cost Accounting Problems on Idle Capacity Cost (1 Problem): 9. Cost Accounting Problems on Secondary Distribution (1 Problem): 7. 1. 20 per 100 units and the machine consumed 10 units per hour. 1. Cost Accounting Problems on Apportioning Total Process Costs (2 Problems). 5 will not be considered as it has already been exhausted). APIdays Paris 2019 - Innovation @ scale, APIs as Digital Factories' New Machi... No public clipboards found for this slide. See our User Agreement and Privacy Policy. Calculate the factory works cost of the product under: Production department of a company pays its workers standard wages @ Rs. Statement showing the amount of provision to be made to offset the inter-process profits added: The following information is available regarding process X during the year ended 31.3.95. M/s Pine Corporation undertook a contract for Rs. 25,000. Material Cost Agenda Introduction Components of Material Cost Classification of Inventory Requirements of Material Stock Control Purchase and Stores Procedure Methods of Pricing Material Issues Accounting Control of Waste, Scrap, Spoilage. per annum will be Rs.

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