April/May 2023 NM solved assignments-A company manufactures a product in batches. The cost of setting up a batch is s.3000.The inventory carrying cost is Rs.20 per unit per month. The monthly demand for the product is 300 units. Determine the Economic Batch Quantity.
April/May 2023 NM solved assignments-A company manufactures a product in batches. The cost of setting up a batch is s.3000.The inventory carrying cost is Rs.20 per unit per month. The monthly demand for the product is 300 units. Determine the Economic Batch Quantity.
Cost and Management Accounting
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From the following details made available to you for the year ended 31st March 2022 of Kapil Polymers Ltd prepare a Cost Sheet
TABLE BELOW
Rs. |
|
Purchase of Raw Materials |
105,00,000 |
Consumable materials |
6.00,000 |
Direct Wages |
120,00,000 |
Carriage inwards |
1,50,000 |
Wages to foreman and storekeeper |
8,50,000 |
Other indirect wages to factory staff |
1,25,000 |
Salary to accountants |
7,50,000 |
Cost of power and fuel |
25,00,000 |
Production planning office expenses |
11,00,000 |
Salary to delivery staff |
12,00,000 |
Fees to statutory auditor |
2,50,000 |
Fees to cost auditor |
1,00,000 |
Fees to independent directors |
11,00,000 |
Sales |
300,00,000 |
Donation to PM’s National Relief Fund |
100,00,000 |
Opening stock of inventories |
|
Raw Materials |
6,50,000 |
W-I-P |
7,50,000 |
Finished Goods |
15,00,000 |
Closing stock of inventories |
|
Raw Materials |
7,50,000 |
W-I-P |
8,50,000 |
Finished goods |
17,50,000 |
(10 Marks)
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A gang of workers usually consists of 25 skilled workers 15 semi- skilled workers and 10 unskilled workers. The standard rate per hour for skilled workers is Rs.90 for unskilled workers it is Rs.80 and Rs.70 for unskilled workers. In a normal working week of 48 hours, the gang is expected to produce 3000 units of output. In a particular week, the gang produced 3200 units of the output. Skilled workers were paid @ Rs.95 per hour, the semi-skilled workers @ Rs.85 per hour and the unskilled workers @ Rs.65 per hour. The gang did not work for 6 hours due to a disruption of power supply. Calculate all labour variances. (10 Marks)
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a. A bus with a seating capacity of 50 passengers performs the following journeys in a month
(i) From city A to city B and back 10 days in a month average occupancy 90%?
(ii) From city A to city C and back 8 days in a month average occupancy is 80%
(iii) From City A to city D and back 7 days in a month average occupancy is 75%
The distance between A and B is 150 kms
A and C is 200 kms
A and D is 250 kms
Calculate the passenger kms travelled by the bus in a month (5 Marks)
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b. A company manufactures a product in batches. The cost of setting up a batch is s.3000.The inventory carrying cost is Rs.20 per unit per month. The monthly demand for the product is 300 units. Determine the Economic Batch Quantity. (5 Marks)
A gang of workers usually consists of 25 skilled workers 15 semi- skilled workers and 10 unskilled workers. The standard rate per hour for skilled workers is Rs.90 for unskilled workers it is Rs.80 and Rs.70 for unskilled workers. In a normal working week of 48 hours, the gang is expected to produce 3000 units of output. In a particular week, the gang produced 3200 units of the output. Skilled workers were paid @ Rs.95 per hour, the semi-skilled workers @ Rs.85 per hour and the unskilled workers @ Rs.65 per hour. The gang did not work for 6 hours due to a disruption of power supply. Calculate all labour variances.
April/May 2023 NM solved assignments-A company manufactures a product in batches. The cost of setting up a batch is s.3000.The inventory carrying cost is Rs.20 per unit per month. The monthly demand for the product is 300 units. Determine the Economic Batch Quantity.
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