Virtual University Forum

Following is the information of ABC manufacturing concern: Wage rate per hour                                         Rs. 3.50 Time allowed for the job                                  21 hours Time taken                                                        19 hours Required : 1. Calculate the Gross earnings of the worker under Halsey premium plan. 2. Find out effective ...

Bismillah,,,,, Generally Paper was Easy Total=27 MCQZ=22 3x3 2x5 MCQZ were easy just correct idea about Financial accounting You can solve almost 90 percent without any problem,,, subjective were also about basic knowledges are are below Q:1.Wage rate per hour Rs. 4.5 Time allowed for the job 1 hours Time taken 36 Minutes. Required: 1. Calculate the Gross earnings of the worker. (From Hasley method) 2. Find out effective “rate of earnings” Q. 2 Gross profit = 20,000 GP Markup = 15% of cost Calculate = Sales and cost of goods sold Q. 3 ABC Co manufactured 1500 Items to fill an order by incurring: Direct material Rs. 151,000 Direct labor cost 100,000 F.O.H (60% of labor cost) 59,000 Total production cost 311,000 Some of the work was found defective, to make good such loss, following cost was incurred: Rework cost on defective work Material Rs. 11,000 Labor 30,000 F.O.H (60% of Labor cost) 15,000 Required: Pass accounting entries to record the cost incurred along with the adjusting entry...

Hello.. My over all paper was so easy.. Mcq's mostly past se thy .... In first question one list was given and we have to identify which of the products are examples of job order costing and process costing... Some of the products I remember were cigarettes, Sewing machine , Men's suit, chocolate syrup ...  Q2. how normal and abnormal losses are treated in cost accounting? Q.3 Pass the journal entries. data yaad nahi :( Q.4 Find wages  rate with the help of halsey premium plan and find effective rate of earnings. Q. 5 same aya tha as given below: Units transferred to next department                                  40,000 Units still in process (all material, 2/3 labour & FO H)          8,000                Following costs were added during the process.                     ...

MY ANSWERS ARE Q1 5 mark It is impossible for a person who is working in assembly line or associated with manufacturing unit, to increase his output without the assistance of entire group of workers so for this reasons companies have introduced the group bonus scheme. Following are common characteristics of Group Bonus Scheme 1. A standard time is set for the completion of job 2.If the time taken by worker is more than the time allowed  the workers in the group receive time wages 3.If the time take by worker is less than the time allowed then group receives a bonus on time saved. Q2  3mark in order to arrive at cost per unit of output, total of each cost element is divided by the number of units produced. For this purpose where at end of costing period, there are some partially competed units in process and these units must be stated in terms of equivalent completed units. Then these equivalent completed units are added to units completed units to arrive at equivalent product...

Today my mgt402 midterm papers 2013 Totalyquestions 27..jis mai se 22 mcqs thy r 5 subjective. 1 important bt ye h k mcqs about new thy..jst 6,7 mcqs old papers mai se thy..faheem r saqib wali file se aye h..r subjective totally numerical thy.. 1.cgs find krna tha 2.cost of goods manufactured statemnt nikalni the.subjctive bht tough thy..