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    Class Question Cost Sheet

    Uploaded by

    Rachit Srivastava
    The document provides financial information for Campbell Company, a metal and woodcutting manufacturer, for the year 2011. It includes details of direct materials, direct labor, manufacturing overhead costs, inventory amounts, revenues, and other expenses. The questions ask to: 1) Classify the costs as direct/indirect and variable/fixed. Direct material cost per unit is Rs. 50 and plant leasing cost per unit is Rs. 6. 2) If 900,000 units were produced, direct material cost is Rs. 50 crore and plant leasing cost is Rs. 5.4 crore. 3) If production increases to 1,000,000 units, direct material cost is Rs. 50 crore

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    Class Question Cost Sheet

    Uploaded by

    Rachit Srivastava
    154 views3 pages
    The document provides financial information for Campbell Company, a metal and woodcutting manufacturer, for the year 2011. It includes details of direct materials, direct labor, manufacturing overhead costs, inventory amounts, revenues, and other expenses. The questions ask to: 1) Classify the costs as direct/indirect and variable/fixed. Direct material cost per unit is Rs. 50 and plant leasing cost per unit is Rs. 6. 2) If 900,000 units were produced, direct material cost is Rs. 50 crore and plant leasing cost is Rs. 5.4 crore. 3) If production increases to 1,000,000 units, direct material cost is Rs. 50 crore

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    The document provides financial information for Campbell Company, a metal and woodcutting manufacturer, for the year 2011. It includes details of direct materials, direct labor, manufacturing overhead costs, inventory amounts, revenues, and other expenses. The questions ask to: 1) Classify the costs as direct/indirect and variable/fixed. Direct material cost per unit is Rs. 50 and plant leasing cost per unit is Rs. 6. 2) If 900,000 units were produced, direct material cost is Rs. 50 crore and plant leasing cost is Rs. 5.4 crore. 3) If production increases to 1,000,000 units, direct material cost is Rs. 50 crore

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    154 views3 pages

    Class Question Cost Sheet

    Uploaded by

    Rachit Srivastava
    The document provides financial information for Campbell Company, a metal and woodcutting manufacturer, for the year 2011. It includes details of direct materials, direct labor, manufacturing overhead costs, inventory amounts, revenues, and other expenses. The questions ask to: 1) Classify the costs as direct/indirect and variable/fixed. Direct material cost per unit is Rs. 50 and plant leasing cost per unit is Rs. 6. 2) If 900,000 units were produced, direct material cost is Rs. 50 crore and plant leasing cost is Rs. 5.4 crore. 3) If production increases to 1,000,000 units, direct material cost is Rs. 50 crore

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Management Accounting

    COST SHEET
    Campbell Company is a metal and woodcutting manufacture, selling
    products to the home construction market. Consider the following data for
    2011:
    Particulars Amount (RS)
    Sandpaper 20,000
    Materials Handling costs 7,00,000
    Lubricants & Coolants 50,000
    Miscellaneous indirect manufacturing labour 4,00,000
    Direct manufacturing Labour 30,00,000
    Direct materials inventory Jan 1, 2011 4,00,000
    Direct materials inventory Dec 31, 2011 5,00,000
    Finished Goods Inventory Jan 1 2011 10,00,000
    Finished Goods Inventory Dec 31 2011 15,00,000
    Work in Process Inventory Jan 1, 2011 1,00,000
    Work in Process Inventory Dec 31, 2011 1,40,000
    Plant- Leasing Costs 5,40,000
    Depreciation- Plant equipment 3,60,000
    Property Tax on - Plant equipment 40,000
    Fire Insurance on - Plant equipment 30,000
    Direct Materials Purchased 46,00,000
    Revenues 1,36,00,000
    Marketing Promotions 600,000
    Marketing salaries 10,00,000
    Distribution Costs 7,00,000
    Customer service costs 10,00,000

    1. Prepare a schedule of cost sheet. For all manufacturing items,


    classify as direct costs or indirect costs and indicate by V or F
    whether each is basically a Variable or Fixed cost (when the cost
    object is a product unit). If in doubt, decide on the basis of whether
    the total cost will change substantially over a wide range of units
    produced.
    2. Suppose that both the direct material costs and the plant-leasing
    costs are for the production of 900,000 units. What is the direct
    material cost of each unit produced? What is the plant leasing cost
    per unit? Assume that the plant leasing cost is a fixed cost.
    3. Suppose Campbell company manufactures1,000,000 units next
    year. Repeat the computation in requirement 2 for direct materials
    and plant leasing costs. Assume the implied cost-behaviour patterns
    persists.
    Q2) The following details have been obtained from the cost records of BPL
    company:

    Prepare a statement account giving various elements and also profit and
    loss.

    Particulars Beg of CY End of CY


    1) Direct materials inventory 22000 26000
    2) WIP inventory 21000 20000
    3) Finished Goods inventory 18000 23000
    4) Purchase of direct materials 75000
    5) Direct manufacturing labor 25000
    6) Indirect manufacturing labor 15000
    7) Plant insurance 9000
    8) Depreciation-plant building and equipment 11000
    9) Repairs and maintenance-plant 4000
    10) Marketing, distribution and customer 93000
    service
    11) General and administrative costs 29000
    12) Revenues 300,000

    Q3) Each of the following cost items pertains to one of these companies.
    General Electric (a manufacturing-sector company), Tata industries (a
    merchandising – sector company) and Infosys (a service sector company):
    1. Perrier mineral water purchased by Tata industries for sale to its
    customers.
    2. Electricity used to provide lighting for assembly line workers at a
    General Electric refrigerator-assembly plant.
    3. Depreciation on Infosys computer equipment used to update
    directories of Websites.
    4. Electricity used to provide lighting for Tata Industries store aisles.
    5. Depreciation on General Electric’s computer equipment used for
    quality testing of refrigerator components during the assembly
    process.
    6. Salaries of Tata Industries marketing personnel planning local-
    newspaper advertising campaigns.
    7. Perrier mineral water purchased by Infosys for consumption by its
    software engineers.
    8. Salaries of Infosys marketing personnel selling banner advertising.
    Classify each of the cost items as an inventoriable cost or a period cost.
    Explain your answers.

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