NMIMS 2019 MBA ASSIGNMENTS - Calculate The Net Profit And Value Of Closing Stock Using A. FIFO Basis

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NMIMS 2019 MBA ASSIGNMENTS - Calculate the net profit and value of closing stock using a. FIFO basis
Assignment Solutions, Case study Answer sheets
Project Report and Thesis contact
aravind.banakar@gmail.com
www.mbacasestudyanswers.com
ARAVIND – 09901366442 – 09902787224

Cost and Management Accounting

Question 1
AMMI Ltd presents following information for Dec,2018-
Budgeted production of product A = 20000 units
Standard consumption of raw material S= 5 kg per unit of A
Standard price of material S = Rs 10 per Kg
Actually, 22000 units of product A was produced and material S was purchased at Rs12 per kg and consumed at 5.2 kgs per unit of A.
Calculate the material cost variances and discuss the results. (10 Marks)

Question 2
You have decided to start up a venture for manufacturing gel pens. You plan to discuss the term cost and the essential elements of cost with your partner so as to find the suitability of various costs that can be incurred during the production. Design a presentation to discuss the same with the relevant examples. (10 Marks)

Question 3

Bhakti Ltd provides you the following information in relation to the year 2016-17 and 2017-18

2016-17 2017-18
Opening Stock(units) 100 500
Production (units) 1500 1800
Fixed Cost Rs 1lacs Rs 1.5 lacs
Variable Cost 120000 250000
Sales(units) 1900 1100
Selling price (Rs/ per unit) 500 700
Closing Stock( units) 200 500

Calculate the net profit and value of closing stock, using –

a. FIFO basis (5 Marks)
b. LIFO basis
Assignment Solutions, Case study Answer sheets
Project Report and Thesis contact
aravind.banakar@gmail.com
www.mbacasestudyanswers.com
ARAVIND – 09901366442 – 09902787224

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