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cost sheet

Costing

answered on 30-Apr-20 13:02

sir in illustration 2 of cost sheet that is the second last video why do we divide the administration overheads by 4000 and not 3600 because we sold only 3600 goods so the overheads should also be divided by 3600 right? to reach at the correct cost per unit

latest answer

Hi Sonia Mishra, Since nothing is specified, Administrative overheads are generally related to production. It is calculated on the basis of number of units produced. Sincerely, IndigoLearn Team

Sonia Mishra

Sonia Mishra

CA Inter

840

2

445

Contract costing

Costing

answered on 09-May-20 10:36

Sir, we should actually credit the "COST of Work Uncertified" and "VALUE of Work certified" to arrive at the profits but they have given ...Value of work completed (it is still not certified) but you have credited the same without finding the cost of the work uncertified...why so?

latest answer

Notional profit represents the difference between the value of work certified and cost of work certified. Notional profit = Value of work certified - (Cost of work to date - Cost of work not yet certified) Since we are finding the notional profit, we used the above formula in solving it.

Venkatesh Rathinam

Venkatesh Rathinam

CA Final

15K+

3

661

Standard costing

Costing

answered on 04-Apr-20 15:26

Can u plz ans this q

latest answer

Standard cost of actual output = 43200/640*680 = 45900

Sahana Sirsikar

Sahana Sirsikar

CA Final

9K+

6

492

CMA INTER /FINAL

Costing

answered on 12-Apr-20 11:08

Sir, Can you also give coaching classes for cma... Inter/final.. It will be very useful for us sir.... Waiting for cma coaching classes... Sir

latest answer

Thank you sir!!

SRIDURGA R

SRIDURGA R

CA Inter

180

6

399

Cost accounting system

Costing

answered on 30-Mar-20 21:48

Here the only difference is i have treated the wastage as abnormal and debited it to costing P&L and I have also not carried forwarded the prod OH as you did in the video is this fine or is there a mistake in the attacjed solution?

latest answer

Non-productive labour time is considered as overhead.

Venkatesh Rathinam

Venkatesh Rathinam

CA Final

15K+

1

416

Standard costing

Costing

answered on 27-Mar-20 01:03

Can u plz provide the ans for this question... Since Im not getting the proper ans...

latest answer

Brijesh kunmar

Sahana Sirsikar

Sahana Sirsikar

CA Final

9K+

4

461

Please delete videos that are irrelevant for the upcoming attempt

Costing

answered on 24-Mar-20 09:18

There are some videos in employee cost that are irrelevant please remove those...waste of time watching them...for people like me(those who dont have the latest material)

latest answer

Noted and will do it asap.

Venkatesh Rathinam

Venkatesh Rathinam

CA Final

15K+

1

458

Syllabus

Costing

answered on 22-Mar-20 12:01

In Employee cost Chapter, Is Emerson and bedaux system,Taylor and Merricks system are important for exam ?

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Tq

Madhaan S

Madhaan S

CA Final

14K+

2

440

How the reconciliation is done in COST ACCOUNTING SYSTEM ?

Costing

answered on 11-May-20 16:24

How it's reconsiled in the sum can some one explain the problem ?

latest answer

The following procedure is recommended for preparing a reconciliation statement: (1) First of all find out the profits of difference between cost accounts and financial accounts (2) Take Profit of cost accounts as base (3) Add items overcharged of expenses in cost accounts (4) Add items of incomes under recorded in cost accounts (5) Deduct items of incomes over recorded in cost Accounts (6) Add amount of over valuation of stock in cost accounts (7) Deduct amount of under valuation of stock in cost accounts (8) Add amount of under valuation of closing stock in cost Accounts (9) Deduct amount of over valuation of closing stock in cost accounts (10) After adding or deducting all the items, the resulting profits will be the profit or loss as per financial books (11) If the starting point of profit in as per financial account, the above items will be reversed.

Sachin M

Sachin M

CA Inter

280

2

510

COST ACCOUNTING SYSTEM

Costing

answered on 11-May-20 10:34

In question it's given as administration overhead incurred ( production ) ....under which head if should be absorbed ( production OH , WIP or finished goods) ? Under which one

latest answer

(1) Administrative overheads may be treated as cost of manufacture. In that case administrative overheads are absorbed to Work-in-progress A/c instead of finished goods A/c. (2) Administrative overheads may be treated as cost of sales. In that case administrative overheads are transferred to Cost of sales A/c instead of finished goods A/c.

Sachin M

Sachin M

CA Inter

280

3

437

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