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The following information was extracted from the books of Danex Holdings regarding its stocks:
(Solved)
The following information was extracted from the books of Danex Holdings regarding its stocks:
Determine the following stock levels for Danex Holdings:
i. Re-order level
ii. Maximum stock level
iii. Minimum stock level
Date posted:
April 17, 2019
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Answers (1)
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Outline the factors Affecting Stock Levels
(Solved)
Outline the factors Affecting Stock Levels
Date posted:
April 17, 2019
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Answers (1)
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A company has an annual demand for material “p” of 25,000 tons per annum. The cost price per ton is Ksh2, 000 and stock holding...
(Solved)
A company has an annual demand for material “p” of 25,000 tons per annum. The cost price per ton is Ksh2, 000 and stock holding is 25% per annum of the stock value. Delivery cost per batch is Ksh400.
Calculate the Economic Order Quantity(E.O.Q)
Date posted:
April 17, 2019
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Answers (1)
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Give objectives of Stock Control.
(Solved)
Give objectives of Stock Control.
Date posted:
April 17, 2019
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Answers (1)
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Explain First In First Out (FIFO) as a method of Valuing Material Issues
(Solved)
Explain First In First Out (FIFO) as a method of Valuing Material Issues
Date posted:
April 17, 2019
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Answers (1)
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Name and explain types of Stores
(Solved)
Name and explain types of Stores
Date posted:
April 17, 2019
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Answers (1)
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List the features of Effective and Good Store keeping
(Solved)
List the features of Effective and Good Store keeping
Date posted:
April 17, 2019
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Answers (1)
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The production manager of Kemu ltd Company, is concerned abut the apparent fluctuation in efficiency and wants to determine how labour costs (in Sh.) are...
(Solved)
The production manager of Kemu ltd Company, is concerned abut the apparent fluctuation in efficiency and wants to determine how labour costs (in Sh.) are related to volume. The following data presents results of the 12 most recent weeks.
Required:
Estimate the cost function using:
a) The high low method
b) Regression analysis
Assume that the Company intends to produce 45 units, 34 units next period
Estimate the labour cost to be incurred.
c) Assume that the company (in illustration 2.1) intends to spend Sh.400 on labour cost next period. Compute the number of units that the company may produce.
Date posted:
April 17, 2019
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Answers (1)
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Based on performance, you have been provided with the following information regarding ABC Ltd for the year ended 31 December 2004 :
(Solved)
Based on performance, you have been provided with the following information regarding ABC Ltd for the year ended 31 December 2004 :
Required:
Develop a total cost function based on the above data using the high-low method.
Date posted:
April 17, 2019
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Answers (1)
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What are the advantages and disadvantages of cost estimation?
(Solved)
What are the advantages and disadvantages of cost estimation?
Date posted:
April 17, 2019
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Answers (1)
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What is the role of a cost accounting department in an organization?
(Solved)
What is the role of a cost accounting department in an organization?
Date posted:
April 17, 2019
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Answers (1)
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The following information for the year ended December 31, 2005 is obtained from the books and records of a factory.
(Solved)
The following information for the year ended December 31, 2005 is obtained from the books and records of a factory.
Factory overhead is 80% of wages and administration overhead 25% of factory cost. The value of the jobs during 2005 was Kshs. 410,000
Prepare:
(i) Consolidated completed jobs account showing the profit made or loss incurred on the jobs.
(ii) Consolidated work – in – progress account.
Date posted:
April 16, 2019
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Answers (1)
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As newly appointed cost accounting, you find that the selling price of job No. 5 has been calculated on the following basis:
(Solved)
As newly appointed cost accounting, you find that the selling price of job No. 5 has been calculated on the following basis:
You are required to:
Wage rate: A = Shs. 4 per hour, B = Shs. 6 per hour, C = Shs. 4 per hour.
(a) Draw up a job cost sheet
(b) Calculate and enter the revised costs using the previous year’s figures as a basis (c) Add to the total job cost 10% for profit and give the final selling price.
Date posted:
April 16, 2019
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Answers (1)
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The information given below has been taken from the cost records of a factory in respect of job no. 707.
(Solved)
The information given below has been taken from the cost records of a factory in respect of job no. 707.
Fixed expenses estimated at Kshs. 20,000 for 10,000 working hours. Calculate the cost of the job No. 707 and the price for the job to give a profit of 25% on the selling price.
Date posted:
April 16, 2019
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Answers (1)
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The following figures are extracted from the Trial Balance of AB. Co. on 31st Sep, 2005.
(Solved)
The following figures are extracted from the Trial Balance of AB. Co. on 31st Sep, 2005.
REQUIRED
Prepare
i) A statement of cost showing various elements of cost.
ii) A statement of profit.
Date posted:
April 16, 2019
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Answers (1)
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The following extract of costing information relates to commodity ‘A’ for the half year ending 31st Dec. 2005.
(Solved)
The following extract of costing information relates to commodity ‘A’ for the half year ending 31st Dec. 2005.
Selling and distribution overheads are Sh. 1 per ton sold. 16000 tons of commodity were produced during the period:
Required:
You are to ascertain
(i) Cost of raw materials used
(ii) Cost of output for the period
(iii) Cost of sales
(iv) net profit for the period
(v) Net profit per ton of the commodity.
Date posted:
April 16, 2019
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Answers (1)
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During the month of Dec 2008, 16000 units of standard product were manufactured, out of which 13500 units were sold at 8/- per unit.
(Solved)
During the month of Dec 2008, 16000 units of standard product were manufactured, out of which 13500 units were sold at 8/- per unit. The value of raw material consumed was Sh. 60,000 and the direct wages paid Sh. 16,480. The factory expenses were allocated to production at machine hour’s rate which for this month was Sh. 5 per hour and 1200 machine hours were worked during the month. The office expenses are charged @ 20% on works cost and the selling expenses @ 25cts per unit.
Prepare a cost sheet showing
a) Cost per unit and
b) Profit for the month
Date posted:
April 16, 2019
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Answers (1)
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A.B.C Manufacturing Company provides the following information for the month of October 19 – 8
(Solved)
A.B.C Manufacturing Company provides the following information for the month of October 19 – 8
Required:
i. Prepare a production cost statement
ii. Prepare a profit statement
Date posted:
April 16, 2019
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Answers (1)
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The following figures are supplied to you by contractor for the year ending 31st December, 1981
(Solved)
The following figures are supplied to you by contractor for the year ending 31st December, 1981
Advances from contractee - 40,000
Prepare contract ledger accounts and the total contractee’s account and show the work-in-progress as it would appear in the Balance Sheet
Date posted:
April 16, 2019
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Answers (1)
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A building contractor took a contract to build a building on 1st Jan 1980. The contract price was agreed at Kshs. 800,000. The contractor has...
(Solved)
A building contractor took a contract to build a building on 1st Jan 1980. The contract price was agreed at Kshs. 800,000. The contractor has made the following expenditure during the year:
Materials - 50,000
Direct labor - 30,000
Plant - 80,000
Direct expenses - 20,000
From the following extra information prepare a Contract Account for the year. Also show the amount in work in progress, which will be shown in the balance sheet of the contractor.
Value plant 31/12/1980 - 60,000
Stock of material 31/12/1980 - 10,000
Material returned to store - 2,000
Work certified - 150,000
Cash received - 140,000
Cost of work uncertified - 8,000
Date posted:
April 16, 2019
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Answers (1)