Re: ::: vuaskari.com ::: mgt402 midterm may-2012

32 question.......

28 mcqs.........not much difficult.........

2 questions of 3 marks//////////

1- what is payslip and its contents?

2-what is primary objective of process cost managment...cahp 19 sey???

2 questions of 5 marks........

both r numericals.......

lein ji kiya yad karein gey.duaon mey yad rakhiye ga........best of luck./......

On Sun, May 13, 2012 at 7:48 PM, Muhammad Sarim <sarim.sarwar@gmail.com> wrote:

26 mcqs 

2 marks 3 

2 marks 5 

or baki ye 

enjoy it 

:-p

 Consider the following data:  (3) 

Particulars	Rs.
Raw material inventory beginning	14,000
Purchases of Raw materials	120,000
Raw material inventory Ending	10,000
Direct labor	200,000
Manufacturing Overhead (actual)	402,000
Manufacturing Overhead (applied)	404,000

 

What is the amount of under or over applied manufacturing overhead cost?

 

 

 

 

XYZ Company's Overhead Budget for the month together with data relating to cost centers is as follow:   (5)

 

Overhead Cost	Rs.
Power	3,200.00
Rent Of Godown	125
Depreciation Of plant	7,500.00

 

                                                                                          Machine Groups

Bases for Apportionment.	Q	R	S	T	TOTAL
Kilowatt Hours	27,500.00	2,525.00	4,500.00	6,500.00	41,025.00
Small tools and supplies	291	350	55	142	838.00
Floor Space(Sq Ft)	1,100.00	1,105.00	650	550	3,405.00
Capital Cost Of plant	2,450.00	16,000.00	7,500.00	13,000.00	38,950.00

 

 

 

 

 

Required: Apportion each of the cost given to the four groups of machine on suitable bases.

 

Red Corporation instituted a new process in October, during which it started 10,000 units in department A. of the units started, 1,000 units, a normal number were lost during the process, 7,000 were transferred to next department B and 2,000 remained in work in process inventory at the end of the month, 100% completed as to material and 50% as conversion. Material and conversion cost of Rs. 27,000 and Rs. 40,000 were charged to department in October.

 

Required: Total cost transferred to department B

 

 

 

West Point Company uses predetermined overhead rates to apply manufacturing overhead to jobs. The predetermined overhead rate is based on machine hours in Department A and direct labor cost in Department B and at the beginning of the year, the company made the following estimates:

 

Particulars	Dept A (Rs.)	Dept B(Rs.)
Direct labor cost	45,000	45,000
Manufacturing overhead	36,000	80,000
Direct labor hours	18,000	16,000
Machine hours	6,000	1,500

 

What predetermined overhead rates would be used in Department - A and Department - B, respectively?   (5)

 

 

Entries  (3)

 

Direct Labor	25,000
Indirect Labor	20,000
Sales Salaries	5,000
Administrative Salaries	10,000
Total	60,000
Deductions
Income tax	3,000
Group insurance	2,000

 

Required: Pass journal entry to record Payroll expense

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