Cost Management & Accounting | NMIMS Assignment Help April 2023 Question
1. X Ltd. made sales of ₹1,00,000 during a certain period. The net profit for the same period was ₹10,000 and the fixed overheads were ₹15,000.
Find out:
a) Profit volume (P/V) ratio;
b) Break-even point (B/E) sales;
c) Volume of sales to earn a profit of ₹15,000;
d) Net profit from the sales of ₹1,50,000.
2. Describe the various steps involved in adopting standard costing system in an organization.
3. a. Explain integrated accounting system and state its advantages.
3. b. M/s ABC Private Limited allotted a standard time of 40 hours for a job and the rate per hour is ₹75. The actual time taken by a worker is 30 hours. You are required to calculate the total earnings under either of the following plans: (i) Halsey Premium Plan (Rate 50%) (ii) Rowan Plan.