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Material costing

Costing

answered 12 hrs ago

Does Reorder quantity has its own formula or not ? Or whenever it is being asked to compute everytime we will compute EOQ only..because in ques whenever reorder quantity is being asked to compute , eoq is being computed only

latest answer

The re-order quantity is calculated using various inventory management models, with the economic order quantity (EOQ) being a commonly used approach. The EOQ formula takes into account the demand rate, setup costs, holding costs, and ordering costs to determine the optimal quantity that minimizes total inventory costs

Samridhi Sareen

Samridhi Sareen

CA Inter

310

2

62

Contract cost

Costing

asked on 28-Sep-23 16:34

Ultra Builders Ltd. has started a contract on 1st April 2021. The Trial balance as on 31st March 2022 showed the following balances: Particulars Dr. (3) Paid up share capital Cr. (7) Land and buildings 50,60,000 2, 5, 75000 Machinery at cost (85% at site) 3366000 39,60,000 Cash and bank 33,000 27,78,600 Materials at cost Creditors for materials 11,33,660 Direct wages 14.60.800 Site expenses 10,56,000 Vehicles Furniture Office equipment 12,00,000 32,560 Postage and Stationery Office expenses 6,88,600 Rates and taxes Fuel and power 28,160 Outstanding wages 9,30,600 Advance rates and taxes 1,540 2,21,200 2,19,29,860 2,19,29,860 The contract price is 2,00,00,000 and work certified is 280,00,000. The cost of work uncertified is 9,60,000. Machinery costing 1,60,000 was returned to stores at the end of the year. Stock of material at site on 31st March 2022 was of the value of 240,000. Depreciation on Machinery, Vehicles and furniture are 10%, 15% and 10% respectively. You are required to calculate the profit from the contract. Web results

latest answer

No answers yet!!

Sowmiga Chandrasekaran

Sowmiga Chandrasekaran

CA Inter

7K+

0

37

Doubt in example explained in cost accounting system chapter 7

Costing

answered 2 days ago

How it calculated under absorbed overhead is 5000 for calculating adjusted cost of sales

latest answer

Ansr is not clear..could u plz detail it.

1 Minute Review

1 Minute Review

CA Inter

5

3

53

Doubt In journal entry of Non integrated costing system , chapter 7

Costing

answered on 27-Sep-23 16:05

Y finished product is transferred to work in process a/c ? Normally we transfer finished good acc balance to cost of goods sold a/c .right?

latest answer

Thank u

1 Minute Review

1 Minute Review

CA Inter

5

2

43

Marginal cost

Costing

asked on 26-Sep-23 20:14

Please calculate PV ratio for this question.

latest answer

No answers yet!!

Mehak K

Mehak K

CA Inter

2K+

0

50

RTP

Costing

answered on 26-Sep-23 09:19

Both questions are same type but while calculating maximum consumption they have taken 1.Annual consumption with adjustment of opening stock 2.Annual consumption without adjustment of opening stock.Why?

latest answer

Ok 👍

GOKULALAKSHMI PANNEER

GOKULALAKSHMI PANNEER

CA Inter

2K+

8

70

Overhead

Costing

answered on 30-Sep-23 12:12

How this distribution of service dep. To production dep. Has done can anyone explain

latest answer

Got it thanks 👍🏻

Rifhat Khan

Rifhat Khan

CA Inter

28K+

3

84

COST ACCOUNTING SYSTEM ( Ch 7 )

Costing

asked on 23-Sep-23 11:26

In illus 7 , preparation of reconciliation statement if done without preparing ledger of Overheads Ctrl A/C . Then in reconciliation statement, what differences of amount would come using profit and cost records? Because, when i am preparing it , am not able to reconcile.

latest answer

No answers yet!!

Mehak K

Mehak K

CA Inter

2K+

0

55

Material Cost

Costing

answered on 18-Sep-23 20:14

Why do we consider ₹5.75 instead of ₹6.10?

latest answer

Thank you Sir

Swetha S

Swetha S

CA Inter

340

2

60

Material Cost

Costing

answered on 18-Sep-23 14:42

Why is the falling price suitable for FIFO & rising price suitable for LIFO?

latest answer

Welcome

Swetha S

Swetha S

CA Inter

340

3

65

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