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Spring 2009 MGT402 3 Vuabid

Spring 2009 MGT402 3 Vuabid

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Published by: saeedsjaan on Jun 12, 2009
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12/20/2010

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MGT402
Cost
 
&
 
Management
 
Accounting
 
ASSIGNMENT
 
 –
 
SPRING
 
2009
 
TOTAL
 
MARKS:
 
40
 
Due
 
Date
 
to
 
Submit
 
the
 
Assignment
 
is
 
 
Friday,
 
June
 
12,
 
2009
 
INSTRUCTIONS:
 
(Please
 
read 
 
the
 
instructions
 
carefully 
 
before
 
starting
 
the
 
assignment.)
 
 
This
 
assignment
 
covers
 
the
 
lessons
 
#
 
32
 
that
 
have
 
been
 
delivered
 
so
 
far.
 
 
This
 
assignment
 
aims
 
to
 
provide
 
you
 
not
 
only
 
the
 
subjective
 
knowledge
 
but
 
also
 
a
 
practical
 
Scenario
 
based
 
perspective
 
of 
 
the
 
common
 
topics
 
of 
 
your
 
course.
 
 
The
 
assignment
 
consists
 
of 
 
20
 
multiple
 
choice
 
questions
 
(MCQs)
 
carrying
 
2
 
marks
 
each.
 
 
Assignment
 
once
 
uploaded
 
on
 
VULMS
 
will
 
not
 
be
 
replaced
 
in
 
any
 
case.
 
So,
 
make
 
sure
 
to
 
upload
 
the
 
correct
 
assignment
 
file.
 
 
Do
 
not
 
submit
 
your
 
assignment
 
as
 
a
 
PDF,
 
image,
 
HTML,
 
Notepad,
 
WordPad
 
or
 
MS
Word
 
file;
 
it
 
will
 
be
 
marked
 
as
 
ZERO.
 
 
Use
 
only
 
Micro
 
Soft
 
Excel
 
file
 
(.xls
 
file
 
format).Its
 
link
 
is
 
given
 
on
 
the
 
announcement
 
page
.
 
 
In
 
the
 
“Correct
 
Option”
 
column,
 
write
 
down
 
only
 
the
 
option
 
number
 
(e
g
 
A,
 
B,
 
C,
 
D)
 
against
 
each
 
question
 
number
 
which
 
you
 
consider
 
is
 
the
 
correct
 
one.
 
 
Upload
 
only
 
the
 
answer
 
sheet
 
on
 
VULMS.
 
Don’t
 
upload
 
the
 
whole
 
assignment.
 
 
Make
 
sure
 
that
 
you
 
upload
 
your
 
solution
 
file
 
on
 
VULMS
 
before
 
the
 
due
 
date/time.
 
No
 
solution
 
will
 
be
 
accepted
 
through
 
e
mail
 
after
 
the
 
due
 
date.
 
 
If 
 
you
 
have
 
any
 
problem
 
with
 
your
 
VULMS
 
or
 
uploading,
 
then
 
you
 
can
 
send
 
your
 
solution
 
through
 
e
mail
 
within
 
the
 
due
 
date
 
and
 
time
 
at
 
mgt402@vu.edu.pk
 
 
Cheating
 
or
 
copying
 
of 
 
solution
 
is
 
strictly
 
prohibited;
 
no
 
credit
 
will
 
be
 
given
 
to
 
copied
 
solution
 
 
No
 
solution
 
will
 
be
 
accepted
 
through
 
your
 
personal
 
e
mail
 
accounts
 
(e.g.
 
Yahoo,
 
Hotmail,
 
G
mail
 
etc.)
 
 
 
A
 
link
 
of 
 
the
 
following
 
answer
 
sheet
 
is
 
also
 
given
 
on
 
the
 
announcement
 
page
 
of 
 
Mgt402,
 
take
 
it
 
from
 
there
 
or
 
copy
 
the
 
following
 
sheet
 
and
 
solve
 
your
 
assignment
 
by
 
providing
 
answer
 
in
 
the
 
given
 
column.
 
 
Following are the set of case studies of different manufacturing companiesYou are required to read and understand the information carefully and then attemptthe Questions provided at the end.
Case # 1
Mark Philips Ltd Company that carried out jobbing work. One of the jobs carried out in Februarywas Job # 13000, to which the following information relates.
Items Particulars
Direct material Y 400 kilos issued from stores at a cost of Rs.5 per kiloDirect material Z800 kilos issued from stores at a cost of Rs.6 per kilo and 60 kilos returned to store,A further 20 kilos were damaged and treated as abnormal lossDepartment P 300 hours of labor@ Rs.4 per hourDepartment Q 200 hours of labor@ Rs.5 per hourDepartment P had to carry out Rectification works, which took 20 hours in normaltime. These 20 hours are additional to the 300 hours above. This rectification work is normal for a job such as job # 13000, and since it was expected, is included indirect costs of the job.Overhead is absorbed at the rate of Rs.3 per direct labor hour in both departments.
Read the above case study carefully and write down the correct optionnumber (e-g A, B, C, D) in the given Excel file.
 
1.
 
What was the direct material cost of job # 13000?A.
 
Rs.6,320B.
 
Rs.6,440C.
 
Rs.6,680D.
 
Rs.6,8002.
 
What was the direct labor cost of job # 13000?A.
 
Rs.2,280B.
 
Rs.2,200C.
 
Rs.2,530D.
 
Rs.2,600
Edited by Foxit ReaderCopyright(C) by Foxit Software Company,2005-2006For Evaluation Only.
 
 3.
 
What was the production overhead cost of job # 13000?A.
 
Rs.1,560B.
 
Rs.900C.
 
Rs.600D.
 
Rs.1,5004.
 
What was the full production cost of job # 13000?A.
 
Rs.10,160B.
 
Rs.10,100C.
 
Rs.10,280D.
 
Rs.10,3355.
 
What was the rectification work cost of job # 13000?A.
 
Rs.80B.
 
Rs.100C.
 
Rs.90D.
 
Rs.70
Edited by Foxit ReaderCopyright(C) by Foxit Software Company,2005-2006For Evaluation Only.

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