Hemchandracharya North Gujarat University 2001 B.Sc Computer Science 104 : Financial Accounting

(c) Fill in the blancks : (any two)
(1) sales journal records all sales of goods.
(2) outstanding for salaries is account.
(3) Assets = Liabialites + Working capital = Current assets –

part - II
4 subsequent details relates to the ABC Ltd. :
Current sales Rs. 3,00,000
Selling price = Rs. 50 per unit
Variables cost = Rs. 34 per unit
Total Fixed cost = Rs. 80,000
Answer the subsequent :
(1) Calculate BEP in units and rupees.
(2) Calculate margin of safely at current sales
In units and rupees.
(3) P/V ratio.
(4) If selling price is increased by 20% and total
Fixed cost by 25% what will be the revised
BEP in units and rupees.
(5) Calculate the current year profits.
(6) What should be the sales in units and rupees
To get profit of Rs. 40,000.
(7) Selling price per unit, if break even point is
Brought down to 4,000 units.

5 Following details relate to the Satyam Ltd.
For March 2001 :
Standard for 1 unit
Material : four kg standard price Rs. 50 ………… 200
Labour : 50 Hours rate per hours Rs. one ……… 50
Standard cost per unit ……………………….. 2,50
Actuals
Actual production 100 units Rs.
Material used 390 Kg Rs. Per kg …………… 20,280
Labour 4920 hours rate per hour Rs. 1.10 …. 5,412

Calculate the subsequent variances :
(1) Materials Price Variance (MCV)
(2) Materials Price Variance(LPV)
(3) Materials Usage Variance (MUV)
(4) Labour Cost Variance (LCV)
(5) Labour Rate Variance (LRV)
(6) Labour Efficiency Variance (LEV).

OR

5 Amita Ltd. Furnishes the subsequent info
for 600 machine manufactured and sold during
the year, 2000 :

Materials consumed ………………………… 6,00,000
Direct wages paid …………………………… 9,00,000
Direct expenses paid ………………………… 1,50,000
Factory overhead expenses …………(fixed).. 3,00,000
Administrative overhead expenses (Fixed)…3,00,000
Selling and distribution exp. Variable ……… 90,000
Selling and distribution exp. Fixed …………. 2,70,000
Sales ………………………………………… 30,00,000

Company has accepted the tender for the Supply of 750 machines for the year 2001.
Material consumption will be Rs. 1500 and Wages Rs. 1800per machine. During 2001 the Factory overhead expenses will bear the identical Percentage to direct wages as in 2000. There will Not be any change in direct expenses paid and Administrative overhead expenses incurred. In machine cost will remain as it was in 200. but In selling and distribution expenses (fixed) there Will be an increase of Rs. 90,000. These will be a rise of 20% in selling price of a machine in Comparison to 2000.From the above information prepare the Statement showing unit cost, total cost and profit
For the year 2000. also prepare a statement of Estimated profit for the year 2001.

six (a) ans the subsequent : (any two)
(1) What is budget and budgetary control?
And write in brief, advantage of
Budgetary control.
(2) Define the cost accounting and state its
Usefulness to the business.
(3) Write uses of Break – even analysis in
Managerial decision – marking.
(4) Define standard costing and state its
Limitations.
(b) Write short notes on : (any one)
(1) Marginal costing
(2) Master budget
(c) State whether subsequent statements are actual
Or false : (any two)
(1) Sales minus cost t of goods sold provide us
Gross profits.
(2) Under standard costing the true costs
Are compared with the historical cost
(3) When total fixed costs reduce , BEP
Increase
(4) Budgeting is the basis of forecasting.

Earning:   Approval pending.