Scribd Logo
Upload

Welcome to Scribd!

  • 43 views

    Ass. No. 1

    Uploaded by

    Neha Gulati
    The document provides cost data for Tiny Toys, a newly established toy making company, including material, labor, and other monthly costs attributed to two new toys: Jumping Jack and Dancing Duck. It asks to prepare a cost sheet, advise on pricing to earn a 20% profit selling 100 units of each toy, and the lowest quote to cover costs and earn no profit for an order of 200 units of each toy. It also provides cost data for Aqua Ltd and asks to prepare its cost sheet and calculate profit with a selling price of Rs. 75 per unit. Finally, it asks to briefly explain overhead apportionment and allocation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Ass. No. 1

    Uploaded by

    Neha Gulati
    43 views2 pages
    The document provides cost data for Tiny Toys, a newly established toy making company, including material, labor, and other monthly costs attributed to two new toys: Jumping Jack and Dancing Duck. It asks to prepare a cost sheet, advise on pricing to earn a 20% profit selling 100 units of each toy, and the lowest quote to cover costs and earn no profit for an order of 200 units of each toy. It also provides cost data for Aqua Ltd and asks to prepare its cost sheet and calculate profit with a selling price of Rs. 75 per unit. Finally, it asks to briefly explain overhead apportionment and allocation.

    Original Description:

    Original Title

    Ass._No._1

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document provides cost data for Tiny Toys, a newly established toy making company, including material, labor, and other monthly costs attributed to two new toys: Jumping Jack and Dancing Duck. It asks to prepare a cost sheet, advise on pricing to earn a 20% profit selling 100 units of each toy, and the lowest quote to cover costs and earn no profit for an order of 200 units of each toy. It also provides cost data for Aqua Ltd and asks to prepare its cost sheet and calculate profit with a selling price of Rs. 75 per unit. Finally, it asks to briefly explain overhead apportionment and allocation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    43 views2 pages

    Ass. No. 1

    Uploaded by

    Neha Gulati
    The document provides cost data for Tiny Toys, a newly established toy making company, including material, labor, and other monthly costs attributed to two new toys: Jumping Jack and Dancing Duck. It asks to prepare a cost sheet, advise on pricing to earn a 20% profit selling 100 units of each toy, and the lowest quote to cover costs and earn no profit for an order of 200 units of each toy. It also provides cost data for Aqua Ltd and asks to prepare its cost sheet and calculate profit with a selling price of Rs. 75 per unit. Finally, it asks to briefly explain overhead apportionment and allocation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 2

    Cost Accounting (MBA 2009-11 Batch) Semester 1 Assignment No.

    1 Marks - 25

    Q.1) 14 Marks Tiny Toys is a newly established Toy Making Company. In the month of June it has started its operations & has come up with two new toys viz. Jumping Jack & Dancing Duck. Following is their Cost Data. Particulars Jumping Jack Dancing Duck Material Used / Unit 175 Rs. 200 Rs. Labour Cost / Unit 50 Rs. 25 Rs. Other Cost Data for the month to be attributed equally to the two toys: Particulars Indirect Labour Direct Expenses Supervisor s Salary Royalty Carriage on purchases (Carriage inward) Rent & Rates - Factory Salary Office Salary - Salesmen MD s Remuneration Carriage on Sales (Carriage outward) Electricity Expense Telephone Expense General Factory Expenses Amount (RS.) 10000 20000 10000 5000 3000 2000 20000 10000 20000 2000 7000 1000 5000

    Prepare a Cost Sheet for the above data. Kindly advise the Management as to what should be the price of each toy if it wants to earn a profit of 20 % on Sales at the production level of 100 units of each toy. Is there any area of Expenses that You can advise it to improve upon. ABC Distributors wants 200 units each of both the products. There are other Companies in the race as well & Tiny Toys wants this order. Tiny Toys can produce the above quantity in one month only. Could You suggest the lowest quote per unit it can give covering all above Expenses (Selling & Distribution Expenses are also to be recovered) & earning no profit. (Indirect Expenses will remain the same) .

    Q.2) 6 Marks Following is the Cost Data for the month of July 2010 for Aqua Ltd: Factory Cost - Rs. 450000/Office & Administration Overheads Rs. 50000/Selling & Distribution Overheads Rs.4 / unit sold Opening Stock of finished goods 1000 units @ 60.80 Rs. Closing stock of Finished goods 200 units Quantity manufactured during the month 10000 units Prepare a cost sheet & ascertain the profit earned by the company if Selling price / unit was Rs.75/-

    Q.3) 5 Marks What are Overheads? Explain in short the terms Apportionment of Overheads & Allocation of Overheads.

    You might also like