AIOU PAST PAPER CODE 462 SPRING 2015 COAST ACCOUNTING

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AIOU OLD PAPER CODE 462 COST ACCOUNTING SPRING 2016

Aiou old paper for cost accounting code 462 for the semester spring 2016. Cost accounting Code 462 is another important branch of accounting. The main concept of Cost accounting is to calculate per unit cost of any product or service. You may Search this past paper by the following main tags, aiou old paper code 462, aiou past paper code 462, aiou old paper code 462 spring 2015, aiou past paper code 462 spring 2015.

Note: ATTEMPT FIVE QUESTIONS. QUESTION NO.8 IS COMPULSORY.

Q.1: The following information was taken from the books and records of the Ijlal. Manufacturing Corporation for the year ended December 31, 2008.
Sales during the year Units 8,000 Cost Opening Inventories: Work-in-process – Finished Goods 1,800 Rs.14, 580 Closing Inventories: Work-in-process 100 Finished Goods 2,000 Manufacturing Costs: Direct Material Rs.30, 000 Direct Labor 20.000 Factory Overhead 16.000
The foreman has submitted the following cost estimate for the closing work-in-process inventory Material Cost Rs.2, 700 Direct Labor Cost Rs. 1,000
The companies past experience showed that factory overhead costs tend to fluctuate closely in proportion to direct labor cost.
Required:
a) Determine the number of units that were manufactured during the year.
b) Complete the foreman’s estimate of the cost of work-in-process.
c) Determine the cost of each unit manufactured during the year.
d) Prepare manufacturing statement for the year.
e) Determine the ending inventory of finished goods and cost of goods sold assumes that the first costs recorded in the finished goods account are the first cost to be credited to the account.

Q.2: Raja Company uses three departments in the manufacture of its products. Costs incurred in Department No. 2 for the month of March were: Labour: Rs. 7,504 Factory overhead cost: Rs. 3,500 30,000 units were received from department 1 at a cost of Rs.92,220 during the month 25,000 units were completed and transferred to Department NO. 3. 1,000 units were completed and on hand in Department’ No.2, and 3,000 units were in process, 2/3 completed as to labour and factory overhead. Required: A cost of Production report for Department No. 2 for the month of March.

Bachelor Paper: Cost Accounting (462) Semester: Spring 2015

2 Comments

  1. Nice and helpful blog for aiou students.
    Thanks

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