Cost Most Imp Qs
Cost Most Imp Qs
Cost Most Imp Qs
I
MPORT
ANT
QUESTI
ONS
CA Ra
hul
Gar
g
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3 5 6 9 9
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Cost Cost
96 88 Cost Cost
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76 66
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CA Rahul Garg
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Our STAR Performers of July 2022 Results
Name Subject Marks Name Subject Marks Name Subject Marks Name Subject Marks Name Subject Marks
Kunal Kamal COST 96 Nikhil ADV ACC 77 Lakshay COST 70 Akila Banu FM ECO 66 Sidak Bhatia COST 62
Sohan R COST 93 Lakshmi ACC 77 Rohan ACC 70 Mehul Jindal COST 65 Hriday FM ECO 62
Komal D ACC 92 Prince COST 77 Piyush COST 70 Keshav COST 65 Anant COST 62
Himanshu ADV ACC 92 Mns Swaroop COST 76 Shreeya Kelkar ADV ACC 69 Krishi Mehta ACC 65 Devanshi Pahuja ADV ACC 62
Kannu COST 90 Kunal Kamal FM ECO 76 Suyash Agarwal ADV ACC 69 Dolly FM ECO 65 Harsh Goyal COST 62
Priya ADV ACC 90 Mayank Bhalotia COST 76 Piyush Jindal FM ECO 69 Madhav ADV ACC 65 Lakshay Bajaj ADV ACC 62
Rythem Chalana COST 88 Shivnath Mehta ADV ACC 76 Dheeraj Jain ADV ACC 69 Mousam FM ECO 65 Suyash Agarwal FM ECO 61
Sonam ACC 89 Shiv ACC 76 Kavya Trivedi ADV ACC 69 Disha Jawandhiya COST 65 Kapil Goel ACC 61
Ritika Arora COST 88 Priyanka Kumari ADV ACC 76 Bharti COST 69 Atharva Kulkarni COST 65 Moinuddin COST 61
Kaushal ADV ACC 88 Ansh Aggarwal COST 76 Amit Sharma COST 69 Harsh Gaur COST 65 Kartik Gupta COST 61
Vinayak Agarwal COST 88 Himanshu COST 75 Keshav Garg COST 69 Ibrahim ADV ACC 65 Kunal COST 61
Sushant ACC 87 Mitali ACC 75 Pushpa FM ECO 69 Gaurav COST 65 Vansh Chhajer FM ECO 61
Sakshi Kedia COST 87 Shreyansh Mittal FM ECO 75 Saloni COST 69 Rahul K V ADV ACC 65 Harsh Goyal ACC 61
Saurav Kalra COST 86 Daljeet Singh ADV ACC 75 Jas Karan Singh COST 68 Jalpabheda FM ECO 64 Shivam FM ECO 61
Swapnil ADV ACC 86 Roop Kishore COST 75 Harsh Setiya ACC 68 Akshit Ghagara FM ECO 64 Priyansh Parmar ADV ACC 61
Srashti Agarwal COST 86 Rajan ACC 75 Harsh 2 COST 68 Dristi Goel FM ECO 64 Priyansh Parmar FM ECO 61
Yatin COST 86 Ronak Jindal FM ECO 75 Yash Dubey COST 68 Shreya COST 64 Devansh Tripathi COST 61
Harleen Kaur ADV ACC 86 Rohit Kulkarni COST 75 Hardhik Arora ADV ACC 68 Vipin Kumar COST 64 Naveeta Kansal ADV ACC 61
Ankita COST 85 Sahil Chandak COST 74 Dheeraj Jain FM ECO 68 Madhav COST 64 Vinit FM ECO 61
Parth ACC 85 Anjana ADV ACC 74 Mayuresh ACC 68 Ananya Jindal ADV ACC 64 Sanskar Panda COST 61
Tushar Aggarwal COST 85 Sreecharan COST 74 Mitesh Bajaj COST 68 Daljeet Singh FM ECO 64 Shubham Kumar COST 61
Tushar Chaturvedi ADV ACC 84 Gourav Gupta FM ECO 74 Pratik Totlani FM ECO 68 Rahul Gajanan FM ECO 64 Vishakha COST 61
Abhishek Bhoraniya COST 84 Ishan Kothari COST 74 Pallav Agarwal COST 68 Iqbal ADV ACC 63 Vishakha ACC 61
Shivani ACC 84 Garima ACC 74 Khushi COST 68 Iqbal FM ECO 63 Ajay Palakar ACC 60
Suhavi Jindal COST 84 Honey FM ECO 74 Hardik Gupta COST 68 Sourabh ACC 63 Gourav Soni COST 60
Akshat Shah ADV ACC 84 Vansh Chhajer ADV ACC 74 Yashika Sharma ACC 68 Lucky Vijay COST 63 Jalpabheda ADV ACC 60
Varun ACC 84 Tushar Gupta ADV ACC 74 Naman COST 68 Nayan COST 63 Sahil Grover FM ECO 60
Kajal COST 84 Vinayak FM ECO 73 Somani Stuti COST 68 Devanshi FM ECO 63 Harshita FM ECO 60
Pranay Dhurka COST 83 Tushar Chaturvedi FM ECO 73 Anandita ADV ACC 68 Naveen ACC 63 Sourabh COST 60
Mansi Chouhan ADV ACC 82 Shreyas Varai COST 73 Bhavya COST 68 Rakesh COST 63 Prabhat ACC 60
Shyam Sundar COST 81 Tomar ACC 73 Kushagra FM ECO 68 Bhawna ACC 63 Gautam ADV ACC 60
Bharat FM ECO 80 Aaradhya Goyal COST 73 Abhishek Bang COST 68 Yash Khot COST 63 Kaushik Baruah FM ECO 60
Naveen Kumar COST 81 Harleen Kaur FM ECO 73 Moinuddin ACC 67 Vivek Dhruve ADV ACC 63 Tarun COST 60
Disha ACC 80 Kapil Patidar COST 73 Harshita ADV ACC 67 Bhawna Yadav COST 63 Jitanshu Jindal ACC 60
Vinayak ADV ACC 80 Harsh Setiya COST 72 Bhautik ADV ACC 67 Radhika Malu COST 63 Suchtra COST 60
Sahil Grover COST 80 Ritua ACC 72 Susmita Das COST 67 Abhishek K J COST 63 Madhav FM ECO 60
Mayuresh COST 80 Kshit Ghagara ADV ACC 72 Utsuk Varshney FM ECO 67 Santosh Kumar FM ECO 63 Vansh Thakral FM ECO 60
Mukesh FM ECO 80 Vansh Gupta COST 72 Kunal Goyal FM ECO 67 Vishal Manwani COST 63 Naveen COST 60
Ashna ACC 79 Kartikey Goel FM ECO 72 Vishal Manwani ACC 67 Sumit Somani COST 63 Rishabh Billorey COST 60
Tushar Pachauri COST 79 Jitanshu Jindal COST 71 Aviral ADV ACC 66 Raj Raghani ADV ACC 62 Anmol Jain COST 60
Yashika COST 79 Ritika Arora FM ECO 71 Abhishek Gupta ADV ACC 66 Girish Shankar FM ECO 62 Anisha FM ECO 60
Lakshmi COST 79 Vivek Gupta ADV ACC 71 Vedant FM ECO 66 Pranav Gandhi COST 62 Apurva Gobade COST 60
Ibrahim Asgar ACC 79 Ayush Gupta FM ECO 71 Tushant FM ECO 66 Gautam FM ECO 62 Naveeta Kansal FM ECO 60
Pranay Punyani COST 78 Ayush Kalam COST 71 Rythem Chalana FM ECO 66 Hardhik Arora FM ECO 62 Prarena ADV ACC 60
Fazal Mahmood COST 78 Mansi Chouhan FM ECO 70 Karthik Aswani COST 66 Shruti COST 62 Dhruvil Shah FM ECO 60
Sneha ADV ACC 78 Harsh Gupta COST 70 Bharti Shukla COST 66 Vishal Kumar COST 62 Isha Jain ADV ACC 60
Dhairya ACC 78 Kartikey Goel COST 70 Rishabh ADV ACC 66 Lalit ADV ACC 62 Chintan FM ECO 60
Ibrahim Asgar COST 78 Anjali Shaghal ACC 70 Keshav Garg ACC 66 Kavya Trivedi FM ECO 62
Subodh Gupta FM ECO 77 Vivek COST 70 Pranay Dhurka FM ECO 66 Ashish Agarwal FM ECO 62 And many more...
Hemant Bagree COST 77 Bhanu FM ECO 70 Ananya Jindal FM ECO 66 Komal FM ECO 62
#BAGISHA #AKSHAT
COST 99 Marks COST 92 Marks
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Star Performers #HARLEEN KAUR
ACCOUNTS 90 Marks
#NEERAV HEMNANI
COST 86 | FM ECO 76
PR Ltd. manufactures and sells a typical brand of Tiffin Boxes under its own brand name. The
installed capacity of the plant is 1,20,000 units per year distributable evenly over each month of
calendar year. The Cost Accountant of the company has informed the following cost structure of the
f. Semi-variable Overheads are ₹ 7,500 per month upto 50% capacity & additional ₹ 2,500 per
The plant was operating at 50% capacity during the first seven months of the calendar year 2012 and
The selling price for the period from 1st Jan, 2012 to 31st July, 2012 was fixed at ₹ 69 per unit.
The firm has been monitoring the profitability and revising the selling price to meet its annual profit
target of ₹ 8,00,000.
Suggest the selling price per unit for the period from 1st Aug 2012 to 31st Dec 2012.
Prepare Cost Sheet clearly showing the total and per unit cost and also profit for the period :
Compute E.O.Q. and the total variable cost for the following :
Unit price ₹ 20
Order cost ₹ 16
KL Limited produces product 'M' which has a quarterly demand of 8,000 units. The product requires
3 kgs. quantity of material 'X' for every finished unit of product. The other information are follows:
b. Should the' company accept an offer of 2 percent discount by the supplier, if he wants to supply
A job can be executed either through workman A or B. A takes 32 hours to complete the job while B
finishes it in 30 hours. The standard time to finish the job is 40 hours. The hourly wage rate is same
for both the workers. In addition, workman A is entitled to receive bonus according to Halsey plan
(50%) sharing while B is paid bonus as per Rowan plan. The works overheads are absorbed on the job
at ₹ 7.50 per labour hour worked. The factory cost of the job comes to ₹ 2,600 irrespective of the
workman engaged.
Find out the hourly wage rate and cost of raw materials input.
Also show cost against each element of cost included in factory cost.
Standard time for a job is 60 hours; and hourly rate of guaranteed wage is Rs. 0.75. Because of
saving in time a worker A gets an hourly wage of ₹ 0.9 under the Rowan Premium Bonus System.
For the same saving in time, calculate the hourly rate of wages a worker A will get under Halsey
Premium Plan assuming 40% bonus is given for the time saved.
A company has 2 production and 2 service departments. The data relating to a period is :
The power requirement of these departments are met by a power generation plant. The said plant
incurred an expenditure, which is not included above of ₹ 1,21,875 out of which a sum of ₹ 84,375
was variable and the rest fixed. After apportionment of power generation plant costs to the four
c. Calculate the overhead rates per direct labour hour of production departments, given that the
direct wage rates of PD1 and PD2 are ₹ 5 and ₹ 4 per hour respectively.
Chunnu Ltd. has prepared the following Sales Budget for first 5 months of 2013 :
Sales (Units)
Jan 10,800
Feb 15,600
Mar 12,200
Apr 10,400
May 9,800
Inventory of finished goods at the end of every month is to be equal to 25% of the sales estimate
for the next month. On 1stJan, 2013 there were 2,700 units of product in hand.
Material A : 4 Kg
Material B : 5 Kg
Materials equal to one half of the requirement of next month’s production are to be in hand at the
PVK Constructions commenced a contract on 1st April, 2014. Total contract value was ₹ 100 lakhs.
The contract is expected to be completed by 31st December, 2016. Actual expenditure during the
period 1st April, 2014 to 31st March, 2015 and estimated expenditure for the period 1st April, 2015
1st April, 2014 to 31st March, 1st April, 2015 to 31st Dec.
2015 2016
outstanding
Part of the material procured for the contract was unsuitable and was sold for ₹ 2,40,000 (cost
being ₹ 2,55,000) and a part of plant was scrapped and disposed of for ₹ 80,000.
The value of plant at site on 31st March, 2015 was ₹ 2,50,000 and the value of material at site was ₹
73,000. Cash received on account to date was ₹ 36,00,000, representing 80% of the
• An additional amount of ₹ 4,62,500 would have to be spent on the plant and the residual value of
• Site office expenses would be the same amount per month as charged in the previous year.
Required : Prepare Contract Account and calculate estimated total profit on this contract.
Arnav Confectioners (AC) owns a bakery which is used to make bakery items like pastries, cakes and
muffins. AC use to bake at least 50 units of any item at a time. A customer has given an order for
600 muffins. To process a batch of 50 muffins, the following cost would be incurred:
Direct wages ₹ 50
AC absorbs production overheads at a rate of 20% of direct wages cost. 10% is added to the total
production cost of each batch to allow for selling, distribution and administration overheads.
Star Ltd. manufactures chemical solutions for the food processing industry. The manufacturing takes
place in a number of processes and the company uses a FIFO process costing system to value work-in-
process and finished goods. At the end of the last month, a fire occurred in the factory and
destroyed some of the paper files containing records of the process operations for the month.
Star Ltd. needs your help to prepare the process accounts for the month during which the fire
occurred. You have been able to gather some information about the month’s operating activities but
1. Opening work-in-process at the beginning of the month was 800 litres, 70% complete for labour
and 60% complete for overheads. Opening work-in-process was valued at ₹ 26,640.
2. Closing work-in-process at the end of the month was 160 litres, 30% complete for labour and
3. Normal loss is 10% of input and total losses during the month were 1,800 litres partly due to the
fire damage.
7. The cost per equivalent unit (litre) is ₹ 39 for the month made up as follows :
Raw Material ₹ 23
Labour ₹7
Overheads ₹9
39
Required :
a. Calculate the quantity (in litres) of raw material inputs during the month.
b. Calculate the quantity (in litres) of normal loss expected from the process and the quantity (in
c. Calculate the values of raw material, labour and overheads added to the process during the
month.
A company operates a chemical process which produces four products: K, L M and N from a basic raw
Product Production Kgs. Sales (₹) Additional Processing Costs after split- off (₹)
L 200 5,600 -
The company presently intends to sell product L at the point of split-off without further processing.
The remaining products, K, M and N are to be further processed and sold. However, the management
has been advised that it would be possible to sell all the four products at the split-off point without
further processing and if this course was adopted, the selling prices would be as under:
Product K L M N
Joint costs are to be apportioned on the basis of sales value realisation at the point of split-off.
b. Present a statement showing the product wise and total budgeted profit or loss based on the
proposal to sell product L at split-off point and products K, M, N after further processing.
c. Prepare a statement to show the product wise and total profit or loss if the alternative strategy
d. Recommend any other alternative which in your opinion can increase the total profit further.
Calculate the total profit as also product wise profit or loss, based on your recommendation.
The following information is available from the cost records of a Company for July, 2016:
Materials 12
Labour 9
Variable expenses 6
Fixed expenses 18
45
The unit of product is sold for ₹ 51.00. The company’s normal capacity is 1,00,000 units. The figures
given above are for 80,000 units. The company has received an offer for 20,000 units
Mr. X has ₹ 2,00,000 investments in his business firm. He wants a 15 per cent return on his money.
From an analysis of recent cost figures, he finds that his variable cost of operating is 60 per cent of
sales, his fixed costs are ₹ 80,000 per year. Show computations to answer the following questions:
b. What sales volume must be obtained to get 15 per cent return on investment?
c. Mr. X estimates that even if he closed the doors of his business, he would incur ₹ 25,000 as
expenses per year. At what sales would he be better off by locking his business up?
The Trading and Profit and Loss Account of a company for the year ended 31-03-2016 is as under :
₹ ₹
63,70,000 63,70,000
Prepare the Costing Profit and Loss Account of the company and reconcile the Profit/Loss with the
A fire destroyed some accounting records of a company. You have been able to collect the following
from the spoilt papers/records and as a result of consultation with accounting staff in respect of
January, 2013 :
₹ ₹
Work-in-Progress A/c
₹ ₹
Creditors A/c
₹ ₹
₹ ₹
₹ ₹
1. The cash-book showed that ₹ 89,200 have been paid to creditors for raw-material.
2. Ending inventory of work-in-progress included material ₹ 5,000 on which 300 direct labour
3. The job card showed that workers have worked for 7,000 hours. The wage rate is ₹ 10 per
labour hour.
You are required to complete the above accounts in the cost ledger of the company.
A truck starts with a load of 10 tonnes of goods from station P. It unloads 4 tonnes at station Q and
rest of the goods at station R. It reaches back directly to station P after getting reloaded with 8
tonnes of goods at station R. The distances between P to Q, Q to R and then from R to P are 40 kms,
From the following data pertaining to the year 2012-13 prepare a cost sheet showing the cost of
5 kWh. of electricity generated per kg of coal consumed @ ₹ 4.25 per kg. Depreciation charges
You are requested to advice him that what rent should be charge from his customers per day so that
2. Room attendant’s salary ₹ 2 per day. The salary is paid on daily basis and services of room
attendant are needed only when the room is occupied. There is one room attendant for one room.
3. Lighting, heating and power. The normal lighting expenses for a room if it is occupied for the
whole month is ₹ 50. Power is used only in winter and normal charge per month if occupied for a
room is ₹ 20.
10. Interest @ 5% may be charged on its investment of ₹ 5,00,000 in the building and equipment.
11. There are 100 rooms in the hotel and 80% of the rooms are normally occupied in summer and 30%
of the rooms are busy in winter. You may assume that period of summer and winter is six month
ABC Ltd. Manufactures two types of machinery equipment Y and Z and applies/ absorbs overheads on
the basis of direct-labour hours. The budgeted overheads and direct-labour hours for the month of
Equipment Y Equipment Z
ABC Ltd.’s overheads of ₹ 12,42,500 can be identified with three major activities :
(₹ 1,57,500). These activities are driven by number of orders processed, machine hours worked, and
Required :
1. Assuming use of direct-labour hours to absorb/ apply overheads to production, compute the unit
manufacturing cost of the equipment Y and Z, if the budgeted manufacturing volume is attained.
2. Assuming use of activity-based costing, compute the unit manufacturing costs of the equipment Y
3. ABC Ltd.’s selling prices are based heavily on cost. By using direct-labour hours as an application
base, calculate the amount of cost distortion (under-costed or over-costed) for each equipment.