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Cost and Management Accounting( Mgt 402)....Assignment no 1 ..(Start date :12 july,2016....End date:18 july,2016)....Marks :10

SEMESTER SPRING 2016

COST &MANAGEMENT ACCOUNTING (MGT402)

ASSIGNMENT # 01

DUE DATE: 18th July, 2016 MARKS: 10

TOPIC TO BE TESTED:

 Cost of Production Report.

LEARNING OBJECTIVES:

 To understand the Cost of Production Report (CPR) in terms of units schedule,

equivalent units produced and per unit cost.

ASSIGNMENT QUESTION:

Company ABC instituted a new process in March, during which it started 24,000 units in

department A. During the month 14,000 units were completed and transferred to the

department B. 8000 units (completed 25% with respect to materials and completed 50%

with respect to labor and FOH) were still in the process at the end of March. Remaining

units were destroyed (normal loss) during processing. Costs incurred by the department A

were: materials Rs. 180,000, labor Rs. 140,000 and FOH Rs. 100,000

Required:

By considering the above information, you are required to prepare

1. Quantity schedule for “Department A”

2. Schedule of Equivalent Units Produced for “Department A”

3. Schedule of per unit cost calculations for “Department A”

IMPORTANT:

Grace period of extra 24 hours after the due date is usually available to

overcome uploading difficulties. This extra time should only be used to meet

the emergencies and above mentioned due dates should always be treated as

final to avoid any inconvenience.

IMPORTANT INSTRUCTIONS

 Take help from internet for collecting the information.

 Carefully watch relevant lectures and consult the relevant material

from handouts along with recommended books.

 Attempt the assignment by yourself and it will be entertained

positively.

OTHER IMPORTANT INSTRUCTIONS:

DEADLINE:

 Make sure to upload the solution file before the due date on VULMS.

 Any submission made via email after the due date will not be

accepted.

FORMATTING GUIDELINES:

 Use the font style “Times New Roman” or “Arial” and font size “12”.

 It is advised to compose your document in MS-Word format.

 You may also compose your assignment in Open Office format.

 Use black and blue font colors only.

RULES FOR MARKING

Please note that your assignment will not be graded or graded as Zero (0), if:

 It is submitted after the due date.

 The file you uploaded does not open or is corrupt.

 It is in any format other than MS-Word or Open Office; e.g. Excel,

PowerPoint, PDF etc.

 It is cheated or copied from other students, internet, books, journals

etc.

Note related to load shedding: Please be proactive

Dear students!

As you know that Post Mid-Term semester activities have been

started and load shedding problem is also prevailing in our country

now a days. Keeping in view the fact, you all are advised to post

your activities as early as possible without waiting for the due date.

For your convenience; activity schedule has already been uploaded

on VULMS for the current semester, therefore no excuse will be

entertained after due date of assignments, quizzes or GDBs.


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Replies to This Discussion

Solution:

  1. 1.      Quantity Schedule A

Units started in process                                               24000

Units completed in the department                14000

Units still in process                                         8000

Units Lost (Normal)                                        2000

Total                                                                           24000

  1. 2.      Units Produced for “Department A”

 

Direct Material            8000 x (25 % x 180,000)        =53000

Labour                         8000 x (50 % 140,000)            =78000

FOH                            8000 x (50 % 100,000)           = 58000

  1. 3.      Per Unit Cost

 

Direct Material            180,000/53,000=3.4

Labour                         140,000/78,000=1.79

FOH                            100,000/58,000=1.72

Total                                                   6.91

Please check and give views 

wrong

which grp

take lecture 20 example 2 

share the last part

THERE IS NO EXAMPLE 2....IT IS Q.2.....PLZ TELL PAGE NUM.

 zargham page no 137 on handouts 

no wrong 

yes zubair u r right ......lecture 20 example 2 

Assalam o Alaikum dear sis mje cs201 main support chahia

please 

support me

Plz Friends tell me it is right or Wrong 

Quantity schedule for Department "A"

Units started in process                         24,000

Units complete                                     14,000

Units In process                                     8,000

Units Lost                                             2,000

                                                         24,000

right

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