Computer Lab - Practical Question Bank FACULTY OF COMMERCE O!MA"#A U"#$ER!#TY ---------------------------------------------------------------------------------------------------------B.Com (Computers, Comp.

Applications, Foreign Trade, Advertising & Tax) III Year

W. .F.!"#"$##
CO!T ACCOU"T#"% Time: 60 Minutes Record : 10 Skill Test : 20 Total Marks : 30 %ote& 'ro(lems are to (e solved () using computers ( xcel*Accounting pac+age).
The following information prepare Cost sheet of ABC Compan for !une" #00$ : Rs% Material Consumed (ages *actor o+erheads Administration o+erheads Selling and ,istri-ution o+erheads Sales (' *rom the following information" draw a cost sheet% Stock on materials .%/%#000 Raw materials consumed Manufacturing wages *actor rent and rates 1ffice rent 2eneral e3penses Ad+ertisement )' 4repare a Statement of cost from the following: Raw materials consumed ,irect wages *actor 1+erheads 1ffice o+er head .'5 on works cost Selling o+er head 0%)/ per unit 6nits produced #0"000 6nits Sold .0"000 7 #%'0 each% Rs% #0"000 .#"000 ."$00 Rs% )"000 #0"000 /"000 )"000 '00 &00 600% &"'0"000 #")0"000 $#"000 )0"000 #0"000 $"00"000

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4repare Cost Sheet from the following information : Rs% Material consumed .'"000 ,irect la-our charges $"000 *actor 1+erheads $00 Administrati+e o+er heads 7 #05 of works cost%Selling o+er heads 7 0%'0 per unit% 6nits produced ./".008 6nits sold .6"0007 Rs%& per unit% 9ou are re:uired to prepare a cost sheet from the a-o+e%

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*rom the following information prepare a Cost Sheet% Raw materials consumed ,irect la-our Manufacturing e3penses Sales 2i+en : Raw materials consumed ,irect la-our Manufacturing e3penses 1ffice and administration o+er heads 4repare a statement of cost of production%

Rs% &"//"000 ."/."000 0&"000 .)"00"000% Rs% &"00"000 #"00"000 ')"000 ."0'"000

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Ascertain the prime cost" works cost" cost of production" total cost and profit from the under mentioned figures : ,irect Materials Rs%'"0008 ,irect ;a-our Rs%)"'008 *actor <3penses Rs%."'008 Administration <3penses Rs%0008 Selling <3penses Rs%/00 and Sales Rs%.'"000% 4repare a Cost Sheet assuming no opening or closing stock : =o% . =o% # Materials >Rs%? )0"000 '0"000 ;a-our >Rs%? 60"000 /0"000 Sales >6nits? .00 #00 Selling 4rice >Rs%? per unit ."#00 ."'00 (orks on cost is charged at &05 on works cost and office on cost is charged at #05 on total cost% The @Recei+edA side of the Stores ;edger Account shows the following particulars : !an% . 1pening Balance : '00 units 7 Rs% & !an% ' Recei+ed from +endor : #00 units 7 Rs% &%#' !an% .# Recei+ed from +endor : .'0 units 7 Rs% &%.0 !an% #0 Recei+ed from +endor : )00 units 7 Rs% &%'0
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!an% #' Recei+ed from +endor : &00 units 7 Rs% & Bssues of material were as follows : !an% &C#00 units8 !an%.0C&00 units8 !an%.'C.00 units8 !an%.$C.00 units8 !an%#6C#00 units8 !an%)0C#'0 units% Bssues are to -e priced on the principle of D*irst in *irst 1utE% (rite out the Stores ;edger Account in respect of the materials for the month of !anuar % &0' The following transactions took place in respect of an item of material: Receipts Rate Bssue Fuantit Rs% Fuantit #-)-#006 #00 #%00 .0-)-#006 )00 #%&0 .'-)-#006 #'0 .0-)-#006 #'0 #%60 #0-)-#006 #00 Record the a-o+e transactions in the Stores ;edger" pricing the issues under Simple A+erage Method% &&' The stock of material A as on .st !une" #006 is '00 units at Re% . per unit% *ollowing purchases and issues of this item were made su-se:uentl : Receipts Rate Bssue Fuantit Rs% Fuantit >6nits? Rs% >6nits? !une 6 #00 !une .0 &00 .%.0 !une .' )00 .%#0 !une #0 '00 !une #. #00 !une #& '00 .%)0 !une #' )00 !une #0 #00 4repare a store ;edger Account showing how the +alue of the a-o+e issues should -e arri+ed under the Base Stock Method when it operates in conGunction with ;B*1% Base stock is #00 units% &(' The stock in hand of a material as on .st Septem-er" #00'" was '00 units at Re% . per unit% The following purchases and issues were su-se:uentl made% 4repare the Store ;edger Account showing how the +alue of the issues would -e recorded under *B*1 Method% 4urchased Bssues Septem-er 6 .00 units at Rs%.%.0 Septem-er $ '00 units Septem-er #0 /00 units at Rs% .%#0 Septem-er ## '00 units Septem-er #/ &00 units at Rs% .%)0 Septem-er )0 '00 units

&)' Bharat Manufacturing Compan uses copper wire which is purchased from the market as and when necessar % The following purchases and issues were made during the month of !anuar " #006 : !an% . 1pening -alance )00 kgs% at Rs% #' per kg% !an% ) 4urchased '00 kgs% at Rs% #6%60 per kg% >4urchase 1rder =o% .0.?% !an% & Bssued ##0 kgs% >Material Re:uisition =o% #0.?% !an% .0 Bssued &&0 kgs% >Material Re:uisition =o% #0#?% !an% #0 4urchased &$0 kgs% at Rs% #) per kg% >4urchase 1rder =o% .0#?% !an% #' Bssued )00 kgs% >Material Re:uisition =o% #0)?% !an% #6 Surplus #0 kgs% returned to store out of :uantit issued on !anuar & >Material Re:uisition =ote =o% #0?% 4repare Stores ;edger Account for the a-o+e transactions according to D;B*1E method of pricing issue of materials% &*' The following transactions occur in the purchase and issue of a material : !anuar .$ 4urchased .00 at Rs% '%00 each *e-ruar & 4urchased #' at Rs% '%#' each *e-ruar .# 4urchased '0 at Rs% '%'0 each *e-ruar .& Bssued 00 March 6 4urchased '0 at Rs% '%'0 each March #0 Bssued 00 March #/ 4urchased '0 at Rs% '%/' each Record the a-o+e in Stores ledger using *B*1 method of pricing% &+' Show the Stores ;edger entries as the would appear when using the weighted a+erage method in connection with the following transactions : 6nits 4rice Rs% April . Balance in hand -Hf )00 #%00 April # 4urchased #00 #%#0 April & Bssued .'0 April 6 4urchased #00 #%)0 April .. Bssued .'0 April .$ Bssued #00 April ## 4urchased #00 #%&0 April #/ Bssued .'0 &,' 2i+en : Materials supplied to site on .-&-#00$ (ages paid Cost of plant (ork certified Cash recei+ed on account (ork completed -ut not certified Rs% )"/'"000 &")/"'00 6#"'00 $"00"000 6"/'"000 #'"000
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4lant on the site on ).st March #0.0 '0"000 Contract price .'"00"000 9ou are re:uired to prepare contract account% &-. The following particulars related to a contract under taken - AGit <ngineers% Rs% Materials sent to site 0'")&$ ;a-our engage on site /&")/' 4lant installed at site .'"000 Materials returned to stores '&$ (ork certified ."$'"000 Cost of work not certified &"'00 Materials on hand at the end of the ear ."00# Ialue of the plant at the end of the ear .."000 The contract price has -een agreed at #"'0"000 Cash recei+ed from the contractors ."00"000 9ou are re:uired to prepare contract account and contractee account% &.' 2i+en : =otional 4rofit (ork Certified (ork 6ncertified Cash recei+ed Contract 4rice Jow much amount of profit to -e transferred to 4 K ; AHc L &/' 2i+en : Contract 4rice (ork Certified <stimated 4rofit Calculate the 4rofit to -e shown in 4rofit K ;oss Account%

Rs% Rs% Rs% Rs% Rs%

60"000 &"00"000 )0"000 #"00"000 0"00"000

Rs% Rs% Rs%

.0"00"000 $"'0"000 ."#0"000

(0' 2i+en : Cash recei+ed Rs% &"00"000 >005 of (ork certified?8 =otional 4rofit Rs% '0"0008 Contract 4rice Rs% )0"00"000% Calculate the profit to -e shown in 4rofit K ;oss Account% (&' A contractor has under taken a contract on .%&%#00$ for Rs%#"/0"000% 1n ).%)%#0.0 the position of that contract was as follows: Rs% Materials charges '0"000 (ages .".#"&00 2eneral charges #"000 4lant installed .6%000 (orks certified ."60"000
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Cash recei+ed ."#0"000 (ork uncertified 0"000 The plant was installed on the date of the commencement of the contract charges depreciation on plant 7 .05 p%a% 4repare contract aHc% ((' The contract ledger of a compan showed the following e3penditure on account of Contract =o% /06 at ).st March" #0.0% Rs% Materials $&"000 (ages ."0)"000 4lant. #"000 <sta-lishment charges 6"/00 Materials on hand &%000 The contract was commenced on .-&-#00$ and the contract price was Rs% &"'0"000% Cash recei+ed on aHc to date was Rs% ."/#"000 representing 005 of the work certified the remaining #05 -eing retained until completion% The +alue uncertified was Rs% &"'00% 4repare an aHc in respect of the contract showing the profit to date assuming depreciation on plant at .05 p%a% and state the proportion of profit and compan would -e Gustified in taking to the credit of the 4rofit K ;oss account% ()' 4roduct M is produced after three distinct processes% The following information is o-tained from the accounts of a period: Btems Total 4rocess B 4rocess BB 4rocess BBB Rs% Rs% Rs% Rs% ,irect materials #"#00 ."000 )00 .00 ,irect wages &00 .00 #00 .00 ,irect e3penses '00 )00 C #00 4roduction o+erhead incurred is Rs%000 and is reco+ered on #005 of directE wages% 4roduction during the period was .00 kgs% There was no opening or closing stocks% 4repare process cost accounts% (*' A product passes through three stages of production and the product of each categor -ecomes the raw material for the ne3t stage% *urther raw materials are also added at each stage% ,uring March #0.0" #"000 units of finished product were produced with the following e3penditure% Stage A Stage B Stage C Materials >Rs%? #0"000 .6"000 0"000 ;a-our >Rs%? .6"000 #&"000 .#"000 ,irect e3penses >Rs%? ."#00 #"000 000 Bndirect e3penses amounted to Rs%#"600% Bt is to -e apportioned on the -asis of la-our% Main raw material issued to stage A >-esides a-o+e? was worth Rs% .#"000% 4repare the process cost account showing the cost per unit at each stage and the total cost of finished product at the final stage% (+' The product of a manufacturing concern passes through two processes A and B and then to finished stock% Bt is ascertained that in each process normall '5 of the total weight is lost
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and .05 is scrap which from process A and B realises Rs%00 per ton and Rs%#00 per ton respecti+el % The following are the figures relating to -oth the processes% Process A Process B Materials in tons ."000 /0 Cost of material per ton >Rs%? .#' #00 (ages >Rs%? #0"000 .0%000 Manufacturing e3penses >Rs%? 0"000 '"#'0 1utput in tons 0)0 /00 4repare process accounts showing cost per ton of each process% There is no stock or work in progress in process% (,' A product passes through two distinct 4rocesses A and B and then to finished stock% The output of process A passes direct to B and that of B passes to *inished product% *rom the following information ou are re:uired to prepare 4rocess accounts% Process A Rs' Process B Rs' Materials consumed .#"000 6"000 ,irect la-our .&"000 0"000 Manufacturing e3penses &"000 &"000 Bnput to process DAE >units? .0"000 Bnput to process DAN >+alue? .0"000 1utput >units? $"&00 0")00 =ormal loss (5 of input? '5 .05 Ialue of normal loss >per .00 units? 0 .0% (-' A product passes through three processes% The following information is e3tracted from cost records relating to 4rocess B : Particulars Rs' Materials introduced in units ."000 Rate per unit >Rs%? .0%00 ;a-our cost >Rs%? 0"000 1+erhead e3penses >Rs%? )"'00 =ormal process losses '5 Sale of normal process loss per unit >Rs%? ) Actual output units $'0 4repare process account showing clearl calculation of normal and a-normal losses or gains if an % (.' 2i+en : Total Cost of normal outputs Scrap +alue realised 6nit introduced >input? in the process 6nits of output =ormal Cost units

: : : : :

Rs% .6".'0 Rs% .'0 &00 )'0 .05 of input

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Calculate the :uantit and the +alue of a-normal loss or gain% (/' Maruthi Tra+els" a transport compan is running a fleet of si3 -uses -etween two towns /' km% apart% The seating capacit of each -us is &0 passengers% The following particulars are a+aila-le for the month of !une #0.0 : Rs% .% (ages of dri+ers" conductors and cleaners )"600 # Salaries of office and super+isor staff ."'00 )% ,iesel and other oils .0")#0 &% Repairs and maintenance ."#00 '% Ta3ation and insurance #"&00 6% ,epreciation )"$00 /% Bnterest and other charges )"000 The actual passengers carried were 005 of seating capacit % All the -uses ran on all da s in the month% <ach -us made one round trip per da % *ind out the cost per passenger kilometer% )0' The following is the information from the -ooks of Thomas: =um-er of ta3ies .08 Cost of each ta3i Rs% #0"0008 Salar of manager Rs% 600 p%m%8 Salar of accountant Rs% '00 p%m% salar of cleaner Rs%#00 p%m%8 salar of mechanic Rs% &00 p%m% 2arage rent Rs 600 p%m% Bnsurance premium '5 p%a%" Annual ta3 Rs% 600 per ta3i% ,ri+ers salar Rs #00 per ta3i% Annual repair Rs ."000 per ta3i% Total life of a ta3i is #"00"000 kms A ta3i runs in all )"000 kms in a m of which )05 it runs empt 4etrol consumption is one litre for .0 kms 7 RS% & 00 per litre% 1il and other sundries are Rs% ' per .00 kms% Calculate the cost of running a ta3i per km% )&' Mr% A runs tempo ser+ice in the town and has two +ehicles% Je furnishes ou the following data related to Iehicle NAN% 9ou are re:uired to compute the cost per running mile% Rs% Cost of +ehicle #'"000 Road license fee per ear /'0 Super+ision and salar > earl ? ."000 ,ri+ers wages per hour &%00 Cost of fuel per litre .%'0 Repairs and Maintenance per mile .%'0 T re cost per mile .00 2arage rent per ear ."600 Bnsurance premium earl 0'0 Miiles run per litre 6 Mlileage run during the ear .'"000 <stimated life of +ehicles >miles? ."00"000 Charge interest at .05 p a on cost of the +ehicles% The +ehicles run #0 miles on an a+erage%

)(' 2i+en : =o% of -us =o% of trips ,istance co+ered >one wa ? =o% of da s in a month Seating capacit 1ccupanc rate Calculate 4assenger kilometers% ))' *rom the following particulars calculate B%<%4% and 4HI ratio% Rs% *i3ed <3penses ."'0"000 Iaria-le Cost per unit .0 Selling 4rice per unit .' )*' *rom the following data" calculate B%<%4% and 4HI ratio% Selling 4rice per unit Iaria-le Manufacturing Cost per unit Iaria-le Selling Cost per unit *i3ed *actor 1+erheads *i3ed Selling Cost Rs% &0 #' 0%) ."00"000

.0 # each )0 k%m% )0 &0 005

)+' 2i+en : *i3ed o+erhead Rs% #"&0"000 Iaria-le cost per unit Rs% .' Selling price per unit Rs% )0% *ind out : >a? Break e+en sales units" and >-? if the selling price is reduced - .05" what will -e the new -reak e+en point L ),' 4rofit Rs% #00 Sales Rs% #"000 Iaria-le cost /'5 of sales >a? *ind out Break e+en sales 8 and >-? what would -e the sales +olume to earn a profit of Rs% '00% )-' *rom the following figures" ou are re:uired to calculate >i? 4HI Ratio" >ii? Break <+en Sales Iolume >iii? Margin of Safet and >i+? 4rofit% Sales Rs% &"0008 Iaria-le cost Rs% #"0008 *i3ed cost Rs% ."600%

).' 2i+en : Rs% Break e+en +olume 0"000 *i3ed costs )"#00 *ind out profit when sales are Rs% .0"000% )/' Calculate the -reak-e+en point from the following figures% Rs% Sales )"00"000 *i3ed e3penses /'"000 ,irect Materials ."00"000 ,irect ;a-our 60"000 ,irect e3penses &0"000% *0' *rom the following data" calculate the -reak-e+en point : Rs% Selling price per unit #0 ,irect Materials cost per unit 0 ,irect ;a-our cost per unit # Iaria-le o+erhead per unit ) *i3ed o+erheads >total? #0"000 Bf sales are #05 a-o+e the -reak-e+en point" determine the net profit% *&' *rom the following figures" calculate the sales re:uired to earn a profit of Rs% ."#0"000% Rs% Sales 6"00"000 Iaria-le costs )"/'"000 *i3ed costs ."00"000% *(' *rom the following data" calculate : >a? Break-e+en point e3pressed in sales rupees% >-? =um-er of units to -e sold to earn a profit of Rs% 60"000 a ear% Selling price Rs% #0 per unit Iaria-le manufacturing cost .. per unit Iaria-le selling cost ) per unit *i3ed costs #"'#"000 per ear% *)' Selling price per unit Rs% .'0 Iaria-le cost per unit Rs% $0 *i3ed Cost Rs% 6"00"000 >i? (hat will -e the selling price per unit if the -reak e+en point is 0"000 unitsL
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>ii? Compute the sales re:uired to earn a profit of Rs% #"#0"000% **' Compute profit earned during the ear using the marginal costing techni:ue : *i3ed Cost - Rs% '"00"0008 Iaria-le Cost -Rs% .0 per unit8 Selling 4rice Rs% .' per unit8 1utput ;e+el - ."'0"000 units% *+' *rom the following" find out >a? Break e+en +olume" and >-? Break e+en sales units: Sales .0"000 units8 Iaria-le cost Rs% ."00"0008 Sales +alue Rs% #"00"0008 *i3ed cost Rs% &0"0008 Selling price per unit Rs% #0% *,' *rom the following particulars calculate : >i? Total Materials Cost Iariance8 >ii? Materials 4rice Iariance8 and >iii? Materials 6sage Iariance%

Materials A B C

Standard 6nits 4rice >Rs%? ."0.0 .%0 &.0 .%' )'0 #%0

6nits ."000 )00 )00

Actual 4rice >Rs%? .%# .%0 .%$

*-' *rom the data gi+en -elow" calculate material usage +ariance% Consumption for .00 units of product Raw Materials Standard Actual A &0 units 7 Rs% '0 per unit '0 units 7 Rs% '0 per unit B 60 units 7 Rs% &0 per unit 60 units 7 Rs% &' per unit% *.' *rom the following data" calculate la-our cost and efficienc +ariances : The -udgeted la-our force for producing product A is: i? #0 Semi-skilled workers 7 p% /' per hour for '0 hours8 ii? .0 Skilled workers 7 Rs% .%#' per hour for '0 hours% The actual la-our force emplo ed for producing A is: i? ## Semi-skilled workers 7 p% 00 per hour for '0 hours8 ii? 0 Skilled workers 7 Rs% .%#0 per hour for '0 hours% */' Compute material price" usage and mi3 +ariances from the data gi+en -elow : Material M 9 Ft % Ogs% 6%00 #%00 Standard 6nit 4rice Rs% .%'0 )%'0 Total Rs% $%00 /%00 Ft % Ogs% '%00 .%00 Actual 6nit 4rice Rs% #%&0 6%00 Total Rs% .#%00 6%00

+0' Calculate material cost +ariance from the following particulars : Material Standard Actual Ft % Og% 4rice Rs% Ft % Og% 4rice Rs% A .0 0 .0 / B 0 6 $ /

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