7/29/2019 Eten CS: Solutions for Budgetary & Contract Costing_7Sep
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Class Test - Budgetary Costing7th September 0 ~ 3
Find out cash collection from Customer for Mis Novan Television & Co. on thebasis of the following information for the first six months of 2008:
(a) Cash sales - 25% and credit sales - 75%.. (c). 60% of credit sales are collected in the month after sales, 300/0 in the second
. month and 10% in the third. No bad debts are anticipated.(d) Sales for each month are as follows:
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Ankur Kulshrestha CA (India), CFA (USA), M. Com, B. Com. H (SRCC)
7/29/2019 Eten CS: Solutions for Budgetary & Contract Costing_7Sep
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Class Test - Budgetary Costing7th September 2013
If interim cash balance is short by Rs. 2,000 in a particular month. Howmuch. would be the interest cost for the next month under the followingconditions (Rate of Interest is 18%)a) Company has surplus investment is Rs. 10,000 and minimum borrowing
is Rs. 5,000 . .. We- ~ ' o ~ ( ~ t f - , ..."",hMeut
7/29/2019 Eten CS: Solutions for Budgetary & Contract Costing_7Sep
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Class Test - Budgetary Costing7th September 2013
Prepare a flexible budget for production at 80 percent and 100percent activity on the basis of the following information:
-
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S3S',(JOO ' '30 bbcsD \ b ~ ' \SUDt:- ,
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Ankur Kulshrestha CA (India), CFA (USA), M. Com, B. Com. H (SRCC)
7/29/2019 Eten CS: Solutions for Budgetary & Contract Costing_7Sep
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Class Test - Budgetary Costing7t h September 2013
The following are the estimated sales of a company for eight months ending30.11.2006:How much is the Opening stock of FG and RM for month of April and closingstock ofFG and RM for September as per the given stock policy of the firm?
~ ~ RM 6 f. '0 Giro '54DDel-. bb()O ""=ryem, \> ')..CS'O ~ 6 6 " 0 II~ ~ \860u.. , ' o ~ ~
- - - -_ .._.__. _ -_ .__ ._-_.__._-------_.---,----Ankur Kulshrestha CA (India), CFA (USA), M. Com, B. Com. H (SRCC)
7/29/2019 Eten CS: Solutions for Budgetary & Contract Costing_7Sep
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Class Test - Contract Costing7th September2013
L&T Ltd. undertook a particular,contract on 1st January. During the year, total Materiacost is Rs 30,000. Total inflation has been 15% since the contract was negotiated twoyears back. There is an escalation clause providing that should the material pricesincrease by more than 12%, the contractee would bear the' increase by 75%. What ithe extra corripensation that contractee will have to pay due to inflation?
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b O r : > ~ ~ ~ N ( f 1 - \ ~ =- " S g ! ~ - 3 [ ~ b ~ '!-83 Cc u . ~ ~ = ' 7 8 ~ ' ~ ~ ~ o ';::. ~ ~ & = t .
L&T Ltd. undertook a particular contract on 1st January. During the year, total laboucost is Rs 20,000. Total inflation has been 20% since the contract was negotiated twoyears back. There is an escalation clause providing that should the labour prices increase, by more than 25%, the contractee would bear the increase by 75%. What is the extracompensation that contractee will have to pay due to inflation?o : l i - - . " ' ~ b ~k-l. e . w ~ . tD N ll-,,: .::i:lV'otL I f"'b'1lL t'\l\ '~ ~ r t a - ~ ~
Ankur Kulshrestha CA (India), CFA (USA), M. Com, B. Com. H (SRCC)
7/29/2019 Eten CS: Solutions for Budgetary & Contract Costing_7Sep
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Class Test - Contract Costing7th September 2013
A contract started on lJan, 2009. Plant ofRs. 20,000 has been charged to the contractOf this amount, plant costing Rs. 5,000 was lost in an accident after 3 months ofuse. On31st Dec., 2009, plant costing Rs. 5,000 was returned to the stores. Prepare the workingnote for the Plant usage using 20% p.a. as the rate of depreciation.
f \M.J- at- t '( k- P \ O M t ~ {> \a,.J- loJt- lol-aL2-0, o-6DS;O-UO\D,aUO $o-BOO ~ C ! . ~ ~ , i0-s;: 0 ) .3 M C3./').5 c' @ ~ ' I r a . ~ ) l ~ t v ' \ CJ ,c:ruu) .?-M. ~ ~ - - 1b l ~ -,d ..: By BDOO- i.{ cr0D ~ 1 ~
A contract started on 1St Jan and ended on 23 Dec of the same year. How much portionof the profit will you transfer to P/L account? , , ~ . ~
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Spot the mistake in Estimated Profit = Transfer to PIL + Contract Reserve AccountCavv-et- A.