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Process costing
Costing
answered on 18-Nov-24 08:55
Can someone please explain how the cost of materials in process 2 is 7500 while in question 9000 is stated
latest answer
In question they have provided the inter process profit included in opening stock is 1500. We will reduce it to arrive at 7,500
HariPriya C
CA Final
β 3K+
4
168
Cost sheet
Costing
answered on 10-Dec-24 06:54
Will this item be included in cost sheet If yes,why?
latest answer
It will be considered for calculation of cost of sales. When I said 'not considered in cost sheet', I meant till Cost of Goods Sold. Interest is a period cost. Sorry for the ambiguity π
Monika T
CA Inter
β 7K+
3
233
Journal entry
Costing
answered on 27-Nov-24 15:42
Manufacturing overhead charged to production 77,200 My Ans:manufacturing overhead control A/C Dr 77200 To cost ledger control A/C. 77200 Icai material answer Work in progress control A/c Dr 77200 To manufacturing overhead control A/C 77,200 Why this differences sir?
latest answer
Charged to production means absorbed by production. So it should be Dr. WIP Cr Production OH Control Account. When you incur expenditure, the entry would be Dr. OH control Account Cr. cost Ledger Control Ac. It reflects the initial recording of manufacturing overheads into the cost system, not yet allocated to production.
Tamil Selvi
CA Inter
β 0
1
63
PPY question
Costing
answered on 12-Nov-24 10:57
How hours worked by Mr. Z is calculated? I am having doubts because in the soln below for the overtime caln is accounted for 2 times. But why ?
latest answer
What they have done is, they calculated the hours for: Days he worked Normal hours + Days he was overtime (by overtime, here in this calculation, they meant any day he worked more than 8 hours. They've considered the entire hours of such days) + holidays worked If you see further below, they have taken only 2 hours to calculate the overtime wage payable Hope you understood
Rajaveni Ramaiyan
CA Inter
β 3K+
1
163
EOQ given by you in your book not matching with your video.
Costing
answered on 11-Nov-24 14:22
Why is there a difference between what you teach and what given in your material.
latest answer
We have updated the PDF notes.
Caintersm2024
CA Inter
β 3K+
2
58
EOQ
Costing
answered on 06-Nov-24 08:53
How average stock came to 6000 ?
latest answer
Average stock is 3,000 i.e., 6,000/2. We will calculate the average stock as the quantity per order / 2
jasmin ameena
CMA Inter
β 5K+
1
182
Job costing
Costing
answered on 28-Feb-25 19:05
The manufacturing cost of a work order is ` 1,00,000; 8% of the production against that order spoiled and the rejection is estimated to have a realisable value of ` 2,000 only. The normal rate of spoilage is 2%. RECORD this in the costing journal. This is the entry mentioned in icai book Material Control Account Dr. 2,000 Overhead Control Account Dr. 1,500 Costing Profit and Loss Control Account Dr. 4,500 To Work-in-Progress Control Account 8,000 Can someone please explain this entry. Because As per my understanding we need to reduce the losses from WIP So what I thought it would be WIP 8000 To MCA 2000 To OCA 1500 To CP/L 4500.
latest answer
I don't think so First we recorded the WIP cost, then wrote off spoilage
HariPriya C
CA Final
β 3K+
5
589
Doubt
Costing
answered on 20-Oct-24 10:46
Pv ratio= profit/vol or contribution / sales right... Then how in this question it's profit/contribution?... Also pv ratio is used to find the change in profit wrt to sales right?
latest answer
The profit-volume (PV) ratio in marginal costing is the ratio of contribution to sales, and is used to measure a company's profitability: Formula P/V ratio = Contribution/Sales
07- Issac Jolly-XII C
CA Inter
β 16K+
1
306
Old Syllabus and New Syllabus
Costing
answered on 19-Oct-24 23:35
Can anyone give suggestions on whether the Costing for CA inter has any changes in syllabus and concepts in new syllabus compared to the old syllabus. Thanks.
latest answer
Only small topics are added here and there like the angel financing concept added in the 2nd chapter. Additional questions are added. Not a significant change
Rajasekaran Suresh
CA Inter
β 495
1
319
Variable cost
Costing
answered on 19-Oct-24 16:25
Variable cost = DM + DL + V. OH....and all other expenses incurred the factory which is varible... This is what sir told about varible cost in marginal costing... Does the expenses that he meant includes DIRECT EXPENSE?
latest answer
Variable Costs are those that vary according to units produced. If the Direct Expense is of such a nature, it will be variable. A question in the study material took it as Variable cost, despite nothing mentioned in the question itself
07- Issac Jolly-XII C
CA Inter
β 16K+
1
290
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