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Computer Lab - Practical Question Bank FACULTY OF COMMERCE O!MA"#A U"#$ER!#TY --------------------------------------------------------------------------------------------- -------B.Com (General) III Year W.E.F.

2010-11 CO!T A"% MA"A&EME"T ACCOU"T#"& Time: 60 Minutes Record : 10 Skill Test : 20 Total Marks : 30 Note: Problems are to be solved b !s"n# $om%!ters (E&$el or an a$$o!nt"n# %a$'a#e).

'( ABC and XYZ companies are manufacturin mo!iles" #rom t$e follo%in information& prepare a statement of cost and profit per unit sold" T$ere is no openin and closin stocks: 'articulars ABC XYZ Rs" Rs" Materials (0&(00 )&)0&*00 +a!our ),&,00 6(&(00 -orks o.er$eads is c$ar ed at /00 on +a!our" 1ffice o.er$eads is taken at ),0 on %orks cost" T$e sellin prices are Rs"2,00 and Rs"(000 respecti.el3" )00 ABC and 2)0 XYZ mo!iles are manufactured and sold" )( T$e material as on )st Septem!er 20)0 %as ,00 units 4 Rs" ) '5" T$e follo%in purc$ases and issues %ere su!se6uentl3 made& prepare stores led er account under +7#18 #7#1: 'urc$ases 7ssues 06-09-20)0: 200 units 4 Rs")",0 2:-09-20)0: :00 units 4 Rs")"20 29-09-20)0: ,00 units 4 Rs")",0 09-09-20)0: )00 units 22-09-20)0: 200 units (0-09-20)0: (00 units

*( 7n an ;n ineerin compan3& t$e standard time for a <o! is )6 $ours and t$e !asic %a e is Rs") per $our" A !onus sc$eme is instituted so t$at e.er3 %orker is to recei.e $is normal rate for $ours actuall3 %orked and ,0 percent of t$e $ours sa.ed" Material for t$e <o! cost %as 200 and o.er$eads are c$ar ed on t$e !asis of Rs"2 per la!our $our" Calculate t$e %a e and effecti.e rate of earnin per $our if t$e <o! is completed a= in )2 $ours and >!= in )* $ours and also ascertain t$e factor3 cost of t$e <o!" +( 'resent t$e ?asla3 plan and Ro%an plan in t$e form of a ta!le" ,( Calculate direct la!our $our rate from t$e follo%in : Total no" of %orkers - )00& %orkin da3s in a 3ear - (00& no" of $ours per da3 %orked @ /& s$ort and idle time @ ,0& factor3 o.er$eads - Rs")2000& ifts to %orkers - Rs" 2000" -( Calculate mac$ine $our rate from t$e follo%in :

Cost of mac$ine - Rs"20&000& estimated scrap .alue - Rs" 2&000& a.era e repairs and maintenance per mont$ @ Rs" 200& standard c$ar es allocated to mac$ine per mont$ - Rs" )00" effecti.e %orkin life mac$ine - )0000 $ours& runnin time per mont$ - )60 $ours& po%er used !3 mac$ine - , units per $our 4 20 paise per unit" .( #rom t$e follo%in a)& a2& a( production departments and s)& s2 ser.ice departmentsA information& prepare o.er$ead anal3sis: 'roduction Bept" a) Rs")&900 a2 Rs"2&,)0 a( Rs")&:(0 Ser.ice Bept" s) Rs" //0 s2 Rs" :)0 ;stimated %orkin $ours a)- )000& a2- 2000& a( @ (000" Bistri!ute t$e ser.ice dept" eCpanses !3 usin t$e follo%in rates: Bept" a) a2 a( s) s2 s) (00 *00 200 )00 s2 )00 200 ,00 200 /( 1nida TD compan3 produced 2,00 units and sold 4 Rs" )0&000 eac$ durin t$e 3ear 2009)0" T$e details are as follo%s: Material - Rs" 2, lak$s& direct %a es @ Rs"(0 lak$s& factor3 o.er$eads - 200 on %a es& office o.er$eads @ )00 on factor3 cost" Ascertain profit or loss" 0( #rom t$e follo%in information& prepare a statement of cost: Sales per t$e 3ear @ Rs":, lak$s& in.entories> !e innin =: finis$ed oods @ Rs")&,0&000& %orkin pro ress- Rs")&00&000& sellin eCpenses- )00 on sales& administrati.e eCpenses- , 0 on sales" '1( T$e follo%in information is eCtracted from <o! led er in respect of <o! no" ***: Material @ Rs",&000& %a es @ )00 $ours 4 Rs" ,"00& .aria!le o.er$eads incurred for all <o!s Rs" )0&000 for ,00 $ours" #ind t$e profit if t$e <o! is !illed for Rs" )2&000" ''( #rom t$e follo%in information calculate t$e cost of t$e <o!: Material- Rs",&000& %a es of A- )00 $ours 4 Rs" ,"00 per $our& %a es of B- /0 $ours 4 Rs" :"00& %a es of C @ ,0 $ours 4 Rs")0"00" Daria!le o.er$eads @ Rs ,"00 per $our& fiCed o.er$eads @ Rs" 20&000 per )0&000 $ours" ')( T$e follo%in are t$e eCpenses on a contract of Rs" ),&00&000 %$ic$ %as commenced on Eanuar3 -20)0: Materials @Rs "(&00&000& %a es @ Rs"(&20&000& plant @Rs" ,0&000& o.er$eads @Rs" ):&000& cas$ recei.ed () Bec 20)0 %as Rs" ,&00&000 !ein /00 of t$e %ork certified" T$e .alue of material on $and %as Rs" 2,&000& t$e plant depreciated !3 200" 'repare contract account" '*( A product passes t$rou $ ( processes" Burin t$e Marc$& 2000 mont$ 20&000 units produced %it$ t$e follo%in eCpenses: 'articulars A >Rs"= B >Rs"= C >Rs"= 2

Birect material ),&000 26&000 20&000 Birect %a es ,0&000 *0&000 (0&000 Total o.er$ead eCpenses amounted to Rs" 60&000 %$ic$ %ill !e distri!uted on t$e !asis of direct %a es" 7ntroduced main ra% material in process A %ort$ Rs" )6&000" 'repare process accounts to determine t$e cost of production" '+( 'resent t$e features of mar inal costin in t$e form of a c$art" ',( S$o% t$e !enefits of mar inal costin t$rou $ a ta!le" '-( 'repare !reak e.en c$art !3 ima inar3 fi ures" '.( Me $ana compan3 manufactures a product and it incurred t$e follo%in eCpenses: Total fiCed cost @ Rs" 20&000& total .aria!le cost- Rs"(,&000& total sales - Rs"/0&000& unit sold @ 20&000" Calculate contri!ution per unit& !reak e.en point& mar in of safet3 and profit" '/( #or t$e last 2 3ears sales and profits are as follo%s: Rs" Rs" 2009 sales ,&00&000 profit @ *0&000 20)0 sales 6&00&000 profit @ 60&000 Calculate '8D ratio& B;' sales& sales to et a profit of Rs" :0&000 " -$at %ill !e t$e mar in of safet3 at profit of Rs20&000F '0( #or t$e last 2 3ears& sales and losses are as follo%s: Rs" Rs" 2009 sales ,&00&000 loss @ *0&000 20)0 sales 6&00&000 loss @ 60&000 Calculate '8D ratio& B;' sales" )1( #rom t$e follo%in information& prepare a comparati.e statement for t$e 3ear 2009 G 20)0" 'articulars 2009 >Rs"= 20)0 >Rs"= Sales 6&,0&000 /&20&000 Sales returns ),&000 20&000 Sellin eCpenses )&,0&000 2&00&000 Heneral eCpanses /0&000 )&20&000 1t$er income 6&,00 :&000 7ncome taC 60&000 6,&000" )'( #rom t$e follo%in data e.aluate t$e c$an es in t$e financial position >Soundness8 %eakness= of t$e compan3: 'articulars 2009 20)0 Rs" Rs -orkin capital (&00&00&000 2&,0&00&000 'lants 2&,0&00&000 )0&00&00&000 +on term de!ts )&20&00&000 /0&00&000 (

Ion tan i!le assets ,&00&00&000 >take t$e $elp of trend ratios=" ))( S$o% a B7I card %it$ ima inar3 fi ures" )*( 'resent t$e proforma of stores led er" )+( 'repare !ill of materials %it$ ima inar3 fi ures" ),( 'resent t$e met$ods of pricin material issues !3 a store"

(&00&00"000

)-( S$o% t$e differences !et%een <o! costin and 'rocess costin in ta!ular form" ).( Bra% a specimen of material indent form and fill it" )/( 'repare a specimen of purc$ase order and fill up %it$ ima inar3 fi ures" )0( 'resent t$e formula for fiCin ;1J and indicate eac$ of t$e s3m!ols used"

*1( T$e a.era e annual consumption of a material is )/&2,0 units at a price of Rs"(6",0 per unit" T$e stora e cost is 200 on an a.era e in.entor3 and t$e cost of placin an order is Rs",0" ?o% muc$ 6uantit3 is to !e purc$ased at a timeF *'( ;ssar +imited produces a product %$ic$ $as a mont$l3 demand of ,2&000 unitsK T$e product re6uires a component %$ic$ is purc$ased at Rs"), per unitK #or e.er3 finis$ed product& 2 units of component are re6uiredK T$e orderin cost is Rs"(,0 per order and t$e carr3in cost is )20 p"a" Calculate t$e economic orderin 6uantit3 of t$e component" *)( Specif3 t$e formulae of R1-AI plan and ?AS+;Y plan" **( S$o% t$e different t3pes of o.er$eads t$rou $ a c$art" *+( 'resent t$e steps in o.er$ead accountin t$rou $ a dia ram" *,( ;C$i!it different met$ods of o.er$ead a!sorption in t$e form of a c$art" *-( 'repare a ta!le s$o%in t$e !asis of distri!ution of .arious eCpenses to departments" *.( S$o% t$e differences !et%een process costin and <o! costin in ta!ular form" */( T$e standard and actual fi ures of a product are as under: Material 6uantit3- Standard ,0 units and Actual *, unitsK Material price per unit-Standard Rs")"00 and Actual Re"0"/0" Calculate material price& usa e and cost .ariances" *0( T$e standard and actual fi ures of a firm are as under: Standard time for t$e <o! )&000 $oursK Standard rate per $our Actual time taken 900 $oursK Actual %a es paid Re"0",0 Rs"(60 *

Compute la!our rate& efficienc3 and cost .ariances" +1( A factor3 %$ic$ eCpects to operate :&000 $ours& i"e" at :00 le.el of acti.it3& furnis$es details of eCpenses as under: Daria!le eCpenses Rs")&260 Semi-.aria!le eCpenses Rs")&200 >#iCed Rs"600= #iCed eCpenses Rs")&/00 Construct fleCi!le !ud et at /00&900 acti.it3 le.el" +'( #rom t$e follo%in information calculate current ratio& 6uick ratio& de!t e6uit3 ratio: +ia!ilities Rs" Assets Rs" S$are capital 2&00&000 +and and !uildin s )&*0&000 'rofit (0&000 'lant (&,0&000 Reser.e *0&000 Stock 2&00&000 Be!enc$ers>)20= *&00&000 Be!tors 90&000 Creditors )&20&000 Bills recei.a!le 20&000 Bills pa3!le ,0&000 Cas$ *0&000 ------------------------/&*0&000 /&*0&000 +)( #rom t$e follo%in particulars& prepare t$e !alance s$eet: #iCed assets to net %ort$ ,:/ Current ratio (:) Acid test ratio ):) Reser.es to proprietors fund ):, Current lia!ilities Rs"(&60&000& Cas$ in $and Rs" ),&000& #iCed assets Rs"6&00&000" +*( #rom t$e follo%in information calculate cas$ from operations: Total sales Rs"6&00&000 Total purc$ases Rs"*&,0&000 Be!tors at t$e !e innin " Rs" /0&000 Be!tors at t$e end Rs"2&00&000 Creditors at t$e !e innin Rs" ,0&000 Creditors at t$e end Rs")&20&000 1peratin eCpenses Rs" /0&000 ++( Calculate t$e Cas$ from operation !3 usin t$e i.en profit and loss and account" ;Cpenses Rs" 7ncomes Rs" To Salaries ),&000 B3 Hross profit ,0&000 To Rent (&000 To Bep"on plant *&000 To Hood%ill %ritten off ,&000 ,

(&000 20&000 ----------,0&000 ,0&000 +," 'repare Cas$ flo% statement from t$e follo%in data: +ia!ilities 2009 20)0 Assets 2009 20)0 Rs Rs" Rs" Rs" ;6uit3 capital )&00&000 )&06&000 Cas$ *0&000 ,0&000 +on term assets 2/&000 26&000 Accounts recei.a!le */&000 ,*&000 Retained earnin s ,6&000 :*&000 7n.entor3 62&000 6*&000 Accu" Bepreation *2&000 ,0&000 #iCed assets )&00&000 )&)6&000 Accounts pa3!le *0&000 *2&000 Current assets )6&000 )*&000 --------------------------------------------------2&66&000 2&9/&000 2&66&000 2&9/&000 ---------------------------------------------------+-( Tradin and 'rofit G loss account of E3ot$i +td" for t$e 3ear ()st marc$ 20)0 as follo%s: Rs" Rs" To 1penin stock 2,&000 B3 Sales )&6/&000 To 'urc$ases /)&000 B3 Closin stock (0&000 To -a es 2,&000 To Manufacturin eCpenses ),&000 To Hross profit ,2&000 ------------)&9/&000 )&9/&000 To Sales eCpenses (&000 B3 Hross profit ,2&000 To 1ffice eCpenses 2(&/00 B3 +and compensation *&/00 To Heneral eCpenses )&200 To #urniture dep" /00 To Iet profit 2/&000 ------------,6&/00 ,6&/00 You are re6uired to calculate H"' Ratio& I"'" Ratio& 1peratin ratio& 1peratin profit ratio" +.( 'repare a c$art s$o%in t$e classification of accountin ratios" +/( ;C$i!it different turno.er 8 acti.it3 ratios alon %it$ formulae t$rou $ a c$art" +0( ;C$i!it different profita!ilit3 ratios alon %it$ formulae t$rou $ a c$art" ,1( 'repare a model Cas$ #lo% Statement %it$ ima inar3 details" L MMMMM

To 'roposed di.idend To Iet profit