HI-AIMS COLLEGE OF COMMERCE AND MANAGEMENT SARGODHA

Grand Test November 2012, B.Com Part-II

Paper: Cost Accountin Tota!. "ar#s: $0
Time A!!o%ed: &0 "inutes
'-1: A Client has recently leased manufacturing facilities for the production of a new
product based on the studies made by his staff. The following data have been made
available to you:
Estimated Annual Sales = 16,000 units.
(stimated Cost Tota! Per )nit
Materials Rs.12!""" Rs. .""
#abor Rs. 1$!2"" Rs. 1.2"
%actory overhead Rs. &2!""" Rs 2.""
Administrative e'penses Rs. 2"!"" Rs.1.&"
*s. 200,000 *s.12.+0
Mar(eting e'penses are e'pected to be 1") of sales and the profit is to amount to
Rs.1.$" per unit.
*e,uired:
a. Compute the *ales +rice per unit.
b. +ro,ect a +rofit - #oss *tatement for the year.
'-2: *econd department of *itara Manufacturing Co. #td. during the month received in
."!""" units at a cost of Rs. //"!""" and transferred out &2!""" units. %ollowing costs
were incurred by the department: Materials Rs. 20"!"""! #abor Rs. 1/2!"""! and
%actory over head 1!""". 1n the 2
nd
department all Materials are issued at the beginning
of process. 2uring the month in the department there was abnormal loss of Rs. 0"""
units when 2
30
converted. 4nits in process in the department at the end of
month were estimated as 2
3&
converted.
'--: .o!!o%in data /ave been ta#en 0rom t/e records o0 A!p/a Corporation:
1an. 1 2ec. -1
*s. *s.
Inventories
Raw Material &.!2"" .$!&""
5or( in process 1!0"" ..!2&"
%inished goods .!/"" 6
3t/er In0ormation:
2eprecation on %actory 78uipment 21!&0"
1nterest earned /!&""
Raw material +urchased &/.!"""
2irect labor Cost 1/2!"""
1ndirect labor cost &!.""
%reight 1n /!""
%actory overhead .9!$""
+urchase 2iscount 0!2""
%inished goods inventory on 1
st
:anuary &"" units and &1
st
2ecember ."" units. *ales during the year!
&" units at Rs. 22" per unit.
*e,uired:
1. ;umber of units manufactured..
2. Cost of <oods manufactured.
&. Cost per unit manufactured.
.. Cost of finished goods inventory on &1
st
2ecember.
0. Cost of good *old.
/. <ross profit========total and per unit.
B(4T 3. 5)C6