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Cost Acctg Chapter-2
Cost Acctg Chapter-2
CHAPTER 2
Multiple Choice Questions – Theoretical
1. c 6. b 11. a
2. b 7. c 12. a
3. a 8. b 13. a
4. b 9. b 14. a
5. a 10. a 15. a
1. (a)
2. (a)
3. (a)
4. (a)
5,200/721 = 7.2
5. (a)
= 670.82
= 671 jerseys
6. (a)
= 14.90
= 15 orders
2
7. (a)
Demand each = D
Working day Number of working days
= 10,000
365
= 27.40 jerseys per day
8. (a)
2 x 50,000 x P5 = 500
P2
9. (a)
10. (a)
11. (a)
12. (a)
P800
P.12 + P.10 + 10,000 = .30
13. (a)
14. (a)
2 x RU x CO
CU x CC
2 x 1,000 x P50
P100 x .15625
EOQ = 6,400
= 6400
= 80
15. (a)
Order Cost = RU x CO
EOQ
= 1,000 x P50
80
= P625
16. (a)
CC = ½ x EOQ x CU x CC
= ½ x 80 x P100 x .15625
= P625
17. (a)
18. (a)
19. (a)
20. (a)
1,000 = 2 x 25,000 x CO
P1
1,000 = 50,000 x CO
1,000,000 = P50,000 x CO
CO = P20
4
21. (a)
= 2,000 yards.
22. (a)
23. (a)
SOLUTIONS TO PROBLEMS
Problem 2-1
1. Purchase Order:
2. Receiving Report
Inspection Record
Quantity Quantity
Accepted Returned Reason for Rejection
3. Debit Memorandum
Purchase Unit
Quantity Order No. Description Price Amount
4. Disbursement Voucher
DISBURSEMENT VOUCHER
Destribution
Problem 2-2
2008
Oct. 24: Materials 92,235.00
Vouchers payable 92,235.00
To record voucher to Veterans Corp.
On invoice of October 21 for 4,800 units,
Of which 510 were returned.
Problem 2-3
Voucher
Voucher Paid Payable Materials
Date No. Payable to Date Check. No. Cr 201 Dr. 121