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B.Com Overhead Question Paper

Vidyadhan Academy Pvt. Ltd.
13/12/2016 0 0

 

       Accounts Overhead                        Timing – 1:30 Hours

 

Q1.      You are given the following overheads relating to a factory :

Factory Rent Rs.48,000; Power Rs.23,000; Depreciation Rs.1,00,000; Store Room Expenses Rs.30,000; Indirect Material Rs.60,000; Canteen subsidy Rs.25,000; Indirect Labour Rs.90,000; Employer’s contribution towards ESI Rs.50,000; Light Rs.18,000. Factory supervision Rs.75,000.

            Following are specific cost details relating to its five departments A, B, C, P and Q of which A, B and C are production departments and P and Q are service departments :

 

 

Production Departments

 

 

Service Departments

 

A

B

C

P

Q

 Area (Sq. mts.)

     2,000

     1,000

        500

        800

     500

Hours worked

     1,000

     1,000

     1,000

        500

     500      

Horse Power of Machine

          80

          80

          30

          40

       40

Traceable overheads (Rs.)

   50,000

   80,000

   30,000

   20,000

25,000

Value of Plant (Rs.)

4,00,000

3,00,000

1,00,000

1,50,000

50,000

Direct Material (Rs.)

1,00,000

1,50,000

1,50,000

1,60,000

40,000

Direct Labour (Rs.)

2,00,000

1,00,000

1,00,000

   30,000

20,000

No. of workers

        800

        700

        500

        200     

     300

No. of  Material

 

 

 

 

 

     Requisitions

        500

       300

     1,000

        800

     400

Light Points

        100

          30

          25

          15

       10

                   

            Depreciation is charged on straight line basis. Overheads of service department P are to be shared by A, B, C and Q in the ratio of 5:3:7:5 and that of department Q are to be shared by A, B, C and P in the ratio of 1:2:3:4.

Q2.      A company has three production department A, b and C and two service departments X and Y. The following information is available regarding various expenses :

 

Power

Rs.2,400

Maintenance of buildings

Rs.2,400

 

 

Rent

     4,200

Fire precaution service

     1,200

 

 

Canteen

     3,000

Insurance on assets

     1,000

 

 

Personnel Deptt.

     3,000

Depreciation (10% of capital value)

 

 

 

Time Office

    1,000

 

 

 

 

 

Production Departments

 

 

Service Department

 

A

B

C

X

Y

Area (sq. metres)

Rs.4,000

Rs.4,000

Rs.3,000

Rs.2,000

Rs.1,000

K.W. hours

     2,000

     2,200

        800    

        750

        250

No. of workers

        900

     1,200

        300

        400

        200

Capital value of assets (‘000) Rs.

          50

          60

          40

          30

          20

                     

The services of X and Y departments are used by the other departments in the following proportion :

 

A

B

C

X

Y

X

25%

30%

25%

--

20%

Y

40%

20%

30%

10%

--

Calculate total overheads of production departments after reapportioning service department overheads using simultaneous equation method.

Q3.The following expenses have been incurred in respect of a shop having 4 identical machines:

            Rent and rates                                                                         Rs.6,000 p.a.

            Power consumed by the shop @ 10 paise per unit                 Rs.4,800 p.a.

            Repairs                                                                                    Rs,1,000 p.a.

            Lighting for the shop                                                              Rs.800 p.m.

            Attendants two each getting                                                  Rs.60 p.m.

            Supervision salary                                                                   Rs.600 p.m.

            Lubricants etc.                                                                        Rs.100 p.a.

            Depreciation per machine (Variable Cost)                              Rs.600 p.a.

            Hire Purchase instalments for the machines includes Rs.300 for interest/

            Each machine consumes 10 units of power in

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