Scribd
Upload
374 views

Assignment 04

The document provides details of an online assignment for Bishal Dhar, including his personal information, college details, subject and paper. It then presents two cost accounting problems and provides solutions. The first problem calculates the process costs for three chemical production processes. The second problem prepares a cost sheet for a company that manufactures moonlight torches.

Uploaded by

John Milan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
374 views

Assignment 04

The document provides details of an online assignment for Bishal Dhar, including his personal information, college details, subject and paper. It then presents two cost accounting problems and provides solutions. The first problem calculates the process costs for three chemical production processes. The second problem prepares a cost sheet for a company that manufactures moonlight torches.

Uploaded by

John Milan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 8

KARIMGANJ COLLEGE

ONLINE ASSIGNMENT
(COMMERCE DEPARTMENT)
DETAILS
➢ NAME :- BISHAL DHAR
➢ SESSION :- 2019-2020
➢ REGISTRATION NO. :- 20180005267
➢ LAST UNIVERSITY ROLL :- 031918
➢ LAST UNIVERSITY NO. :- 300200065
➢ COLLEGE ROLL NO. (OLD) :- 1642
➢ COLLEGE ROLL NO. (NEW) :- 1668
➢ SUBJECT :- COMMERCE
➢ CLASS :- B.COM
➢ SEMESTER :- 4TH SEMESTER
➢ NAME OF THE PAPER :- COST ACCOUNTING
➢ HONOURS/PASS :- HONOURS
➢ DEPARTMENT :- COMMERCE
➢ MOBILE NO. :- 7002139650
➢ EMAIL ID :- bishaldhr905@gmail.com
1. (i) Bengal Chemical Co. Ltd. produced three chemicals during the month
of July, 2019 by three consecutive processes. In each process 2% of the
total weight put in is lost and 10% is scrap which from processes (1) and (2)
realizes Rs/- 100 a ton and from process (3) Rs/- 20 a ton.

The products of three processes are dealt with as follows:

Process 1 Process 2 Process 3


Passed on to the next process 75% 50% --
Sent to warehouse for sale 25% 50% 100%

Expenses Incurred:

Process 1 Process 2 Process 3


Rs/- Tons Rs/- Tons Rs/- Tons
Raw Materials 1,20,000 1,000 28,000 140 1,07,480 1,348
Manufacturing Wages 20,500 - 18,520 - 15,000 -
General Expenses 10,300 - 7,240 - 3,100 -

Prepare Process Cost Accounts showing the cost per ton each product.
Solution :-
In the books of Bengal Chemical Co. Ltd.

Dr. Process 1 A/c


Cr.

Particulars Quantity Amount Particulars Quantity Amount


(Tons) (₹) (Tons) (₹)

To Raw Material 1000 120000 By Loss of Weight 20 −¿


(2% of 1000)
To Manufacturing Wages 20500
By Sale of Scrap 100 10000
To General Expenses 10300 (10% of 1000)
(Realised @100/ton)

By Process 2 A/c 660 105600


(Transferred @160/ton)

By Warehouse A/c 220 35200


(Transferred @160/ton)

1000 150800 1000 150800


Dr. Process 2 A/c
Cr.

Particulars Quantity Amount Particulars Quantity Amount


(Tons) (₹) (Tons) (₹)

To Process 1 A/c 660 105600 By Loss of Weight 16 −¿


(2% of 800)
To Raw Materials 140 28000
By Sale of Scrap 80 8000
To Manufacturing Wages 18520 (10% of 800)
(Realised @100/ton)
To General Expenses 7240
By Process 3 A/c 352 75680
(Transferred @215/ton)

By Warehouse A/c 352 75680


(Transferred @215/ton)

800 159360 800 159360


Dr. Process 3 A/c
Cr.

Particulars Quantity Amount Particulars Quantity Amount


(Tons) (₹) (Tons) (₹)

To Process 2 A/c 352 75680 By Loss of Weight 34 −¿


(2% of 1700)
To Raw Materials 1348 107840
By Sale of Scrap 170 3400
To Manufacturing Wages 15000 (10% of 1700)
(Realised @20/ton)
To General Expenses 3100
By Warehouse A/c 1496 198220
(Transferred
@132.50/ton)

1700 201620 1700 201620

1. (ii) M/s Indi Industries Ltd. is the manufacturer of moon-light torches. The
following data relate to manufacture of torches during the month of March
2019:

Raw Materials Consumed Rs/- 20,000

Direct Wages Rs/- 12,000

Machine hour worked 9500 hours

Machine hour rate Rs/- 2

Office Overheads 20% of works cost

Selling Overheads Rs/- 0.50 per unit


Units Produced 20,000 units

Units Sold 18,000 @ Rs/- 5 per unit

Prepare cost sheet showing the cost and the profit per unit and the total
profit earned.

Solution :-

Output – 20,000 units Cost Sheet Period – March 2019

Particulars Amount (₹) Per Unit (₹)


Raw Materials Consumed 20,000 1.00
Direct Wages 12,000 0.60
Prime Cost → 32,000 1.60

Factory Overhead
Machine Expenses (9500 hours @₹2 per hour) 19,000 0.95
Works Cost → 51,000 2.55

Office and Administrative Overhead


Office Overheads (20% of 51,000) 10,200 0.51
Cost of Production → 61,200 3.06
6120 −¿
(−¿) Value of closing stock
(2000 units @ ₹ 3.06 per unit)
55,080 3.06
Cost of Goods Sold →

Selling and Distribution Overhead 9,000 0.50


Selling Overheads
(18000 units @0.50 per unit) 64,080 3.56
Cost of Sale →

Particulars Amount (₹) Per Unit (₹)


Profit (Balancing Figure) 25,920 1.44
Sales 90,000 5.00

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy