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Calculate: P/V Ratio, BEP and MS for the first half-year. Sales for the second half-year assuming that the Selling Price and fixed expenses
Why is reconciliation of cost and financial accounts necessary? Give examples of purely financial and exclusively cost in nature.
Define the term ‘non-integrated account." Explain the system of non-integrated accounting and state the principal ledgers that are to be maintained.
Indicate the reasons why it is necessary for the cost and financial accounts of an organization to be reconciled and explain the main sources
Under what circumstances a reconciliation statement can be avoided? Give examples of some items, either debit or credit, which appear in the financial accounts
Production and purchase budgets. The following are the estimates of a company for 8 months ending 31 December 2009:
Compute the Material Variances. Lodha Ltd has established the following standard mix for producing 9 gallons of Product P:
Two hours per week were lost due to abnormal idle time and 960 units of output were produced. Calculate various Labour Variances.
Calculate material price and usage variances, and labour rate and efficiency variances.
Calculate the following for the period: (a) Gross margin total sales variance; (b) Gross margin sales volume variance
Prepare an income statement under: (i) Absorption Costing technique; and (ii) Variable Costing technique.
You are required to present a Comparative Profit Statement for each month using: (i) Absorption Costing technique
When the Production Quantity is equal to the Sales Quantity. When the Sales Volume exceeds the Production Volume.
Calculate the profit or loss per patient day made by the hospital, if it charged Rs. 180 per day on an average from each patient;
What is operating costing? What are its characteristics? How does it differ from all other methods of costing?
The distances from A to B, B to C and C to A are 80 km, 120 km and 160 km, respectively. Compute absolute tonne-km and commercial tonne-km.
During the week, they produced 1,600 units and 4 hours were lost due to abnormal idle time. Calculate Labour Variances.
Calculate: (i) Efficiency ratio; (ii) Activity ratio; (iii) Capacity ratio; and (iv) Calendar ratio.
Calculate SVVs and SMVs. Budgeted and actual sales for a period of two products are given as follows:
What is Standard Costing system? What are its features? What are the advantages and limitations of this system?
Explain the following; (a) Material Price Variance; (b) Material Mix Variance; (c) Labour Efficiency Variance;
When 2,000 units are produced, it is found that the actual cost is 825 kg of material at Rs. 2.70 per kg. Calculate MCV, MPV and MUV.
Prepare a government-wide Statement of Activities and Statement of Net Position for the year 2017.
What is Financial Intelligence?Why Increase Your Financial Intelligence?
Journal entries to record the transactions that occurred during the month of December. Prepare an unadjusted trial balance.