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CA IPCC MAY 2011 QUSTION PAPER 3

CA IPCC MAY 2011 QUSTION PAPER 3

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Published by Asim Das

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Published by: Asim Das on Jul 22, 2012
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07/22/2012

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PAPER 4CO"T /, CCOU""TI1'-~G& FIl)to~<NAL MANAGEMESTo. .............................
Total No. of Questions
-
7Time Allowed - 3 Hours
MAY 2011
JNK-H
,pccrpoup.1PAPER.!Ion ACCOUNTING
ANOFINANCIALrv'IANACEMENT
Total No. of Printed Pages - 16
Maximum Marks - 100
Answers to questions are to be given only in English except in the case of candidates whohave opted for Hindi Medium. If a candidate has not opted for Hindi medium, his answers inHindi will not be valued.Question No.1 is compulsory.Attempt any five-questions from the remaining six questions.Working Notes should form part of the answer.1.Answer the following:(a)Marks4x5=20You are given two financial plans of a company which has two financialsituations. The detailed information are as under:Installed capacityActual production and salesSelling price per unitVariable cost per unitFixed cost:Situation 'A' = ~ 20,000Situation 'B' = ~ 25,000Capital structure of the company is as follows:EquityDebt (cost of debt 12%)10,000 units60% of install~dcapacity~ 30~ 20Financial Plans
xv~12,000
40,00052,000
XM~35,00010,00045,000You are required to calculate operating leverage and financial leverage of boththe plans.
-
JNK-H
. P.T.O.
 
(2)
JNK-HMarks
You are given the following information of a worker:(i) Name of worker : 'X'(ii) Ticket No. : 002(iii) Work started : 1-4-11 at 8 a.m.(iv) Work finished : 5-4-11 at 12noon(v) Work allotted : Production of2,160 units
(vi) Workdoneandapproved:
2000
units
(vii) Time and units allowed: 40 units per hour(viii) Wage rate : ~ 25 per hour(ix) Bonus : 40% of time saved(x) Worker X worked 9hours a day.You are required to calculate the remuneration of the worker on the followingbasis:(b)(i)(ii)Halsey plan andRowan planPrepare a StoreCompany Ltd. :April,201115810(c)15202122Ledger Account from the following transactions of Xy.Opening balance 200 units @ ~ 10perunit.Receipt 250 units costing ~ 2,000Receipt 150units costing ~ 1,275Issue 100unitsReceipt 50 units costing ~ 500Shortage 10unitsReceipt 60 units costing ~ 540Issue 400 unitsThe issues upto 10-4-11will be priced at LIFO and from 11-4-11 issues will bepriced at FIFO.Shortage will be charged as overhead.(d)What is factoring? Enumerate the main advantages of factoring,
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JNK-H
 
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2.(3)JNK-H Marks(a)You are given the following information of the three machines of amanufacturing department of X Ltd.
:
8
Total
.
Preliminary estimatesofexpenses(per annum)Machines3,000 2,500 2,50020,000 20,00010,000(The foreman and the attendant control all the three machines and spend equaltime on them.)The following additional information is also available:P.T.O.(f)Depreciation20,000Spare parts10,000Power40,000Consumable stores8,000Insurance of machinery8,000Indirect labour20,000Building maintenance expenses20,000Annual interest on capital outlay50,000Monthly charge for rent and rates10,000Salary of foreman (per month)20,000Salary of Attendant (per month)5,000A BC(f)(f) (f)7,500 7,500 5,0004,000 4,0002,000MachinesA BCEstimated Direct Labour Hours1,00,000 1,50,0001,50,000Ratio of K.W. Rating323Floor space (sq. ft.)40,000 40,000 20,000JNK-H

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