Symbiosis International Education Centre 2006 Post Graduate Diploma Business Administration Management Accounting - Question Paper

23. select all that apply
International Motors manufactures crankshafts for jeeps and trucks. They have
furnished the subsequent particulars for the quarter ended 31st March : Materials
Rs.298,000/-; direct wages Rs.42,000/-; store expenses Rs.20,000/-; machinery
maintenance Rs.4,600/-; depreciation Rs.22,300/-; staff welfare Rs.12,000/-; general
expenses Rs.30,000/-; administration and selling expenses Rs.27,000/-. Additional
info given by them : Production 300 numbers of jeep and 400 trucks;
material cost ratio per vehicle ranging from jeep and truck is one : 2. Direct labour ratio per
vehicle for jeep and truck is two : 3. Machine hour ratio per vehicle for jeep and truck is
1 : 2. choose the statements which are actual and accurate.
a)____ Cost per crankshaft for jeep is Rs.445.45
b)____ Cost per crankshaft for truck is Rs.805.66
c)____ Cost per crankshaft for truck is Rs.1,139.75
d)____ General expenses should be apportioned on direct labour ratio
Ans.
24. Accounting refers to the process of analyzing & interpreting the info already
recorded in the books of accounts.
a) actual
b) false
Ans. A
25. The treatment of _____________ time in cost accounting depends upon the
distinction ranging from normal and abnormal time.
Productive;Standard;Attendance;Idle
Ans. Idle
26. select the accurate ans.
The subsequent info is available regarding 2 orders for the identical product.
Order I : material Rs.20,000/-; wages Rs.25,000/-; selling price Rs.120,000/- and
percentage of profit on cost 20%. Order II : material Rs.30,000/-; wages Rs.40,000/-;
selling price Rs.195,000/- and percentage of profit on cost 25%. Factory overheads
are charged on a fixed percentage basis on wages and office overheads are based on
percentage to works cost. obtain out percentage of office overheads.
a) 20% of works cost
b) 60% of works cost
c) 100% of works cost
d) 140% of works cost
Ans.
27. select the accurate ans.
The gross profit before considering closing stock in the trading account is
Rs.117,560/-. Total current assets excluding closing stock is Rs.267,500/-. The value
of closing stock is Rs.45,060/-. obtain the gross profit and total of current assets
considering the closing stock.
a) Gross profit -Rs.72,500/-; Total current assets-Rs.222,400/-
b) Gross profit -Rs.117,560/-; Total current assets-Rs.267,500/-

Earning:   Approval pending.