-
Easy Wash Ltd. Produces powder sap for household use. The standard direct costs per carton containing 20 packets of one kilogrammes each are as follows:-
(Solved)
Easy Wash Ltd. Produces powder sap for household use. The standard direct costs per carton containing 20 packets of one kilogrammes each are as follows:-
Raw Materials:
Required:
(a) Price and usage variances for each raw material
(b) Labour rate and efficiency variances
(c) Sales price and volume variances
(d) Overhead expenditure variances
Date posted:
August 7, 2019
.
Answers (1)
-
Explain Material Cost Variance
(Solved)
Explain Material Cost Variance
Date posted:
August 6, 2019
.
Answers (1)
-
The following data relates to three products XYZ
(Solved)
The following data relates to three products XYZ
Required:
Calculate profit made by each product apportioning joint costs on;
i) Sales value bases
ii) Physical unit bases
Date posted:
August 6, 2019
.
Answers (1)
-
Using the data given below, show process 1 account where normal loss has a scrap value of sh1.8 per kilo.
(Solved)
Using the data given below, show process 1 account where normal loss has a scrap value of sh1.8 per kilo.
In the manufacture of product vitality 2000 kgs of material at kshs 5kg were supplied to process 1. Labour cost amounted to sh 3,000 and production overheads sh 2,300, normal loss has been estimated at 10% . The actual product after process was 1750kg.
Date posted:
August 6, 2019
.
Answers (1)
-
HZ Construction Company acquired a contact for the construction of a dual carriage way from Nairobi at cost of 200 million.
(Solved)
HZ Construction Company acquired a contact for the construction of a dual carriage way from Nairobi at cost of 200 million. The data relating to the contract for year ended 31st December 2009 was as follows:
The company had received from the client payment amounting to 126 million.
Required:
(i) Contract account
(ii) Contractee account
(iii) Balance sheets extract showing work in progress.
Date posted:
August 6, 2019
.
Answers (1)
-
A company manufactures products L and M using the same equipment and similar processes. An extract of the production data for these products in one...
(Solved)
A company manufactures products L and M using the same equipment and similar processes. An extract of the production data for these products in one period is as follows.
Required:
Calculate the production overhead to be absorbed by one of each other product using the following costing methods.
(a) A traditional costing approach using direct labour hour rate to absorb overheat.
(b) An activity based costing approach using suitable cost drivers to trace overheads to products.
Date posted:
August 6, 2019
.
Answers (1)
-
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
.
Answers (1)
-
Outline the factors Affecting Stock Levels
(Solved)
Outline the factors Affecting Stock Levels
Date posted:
April 17, 2019
.
Answers (1)
-
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
.
Answers (1)
-
Give objectives of Stock Control.
(Solved)
Give objectives of Stock Control.
Date posted:
April 17, 2019
.
Answers (1)
-
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
.
Answers (1)
-
Name and explain types of Stores
(Solved)
Name and explain types of Stores
Date posted:
April 17, 2019
.
Answers (1)
-
List the features of Effective and Good Store keeping
(Solved)
List the features of Effective and Good Store keeping
Date posted:
April 17, 2019
.
Answers (1)
-
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
.
Answers (1)
-
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
.
Answers (1)
-
What are the advantages and disadvantages of cost estimation?
(Solved)
What are the advantages and disadvantages of cost estimation?
Date posted:
April 17, 2019
.
Answers (1)
-
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
.
Answers (1)
-
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
.
Answers (1)
-
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
.
Answers (1)
-
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
.
Answers (1)