NMIMS JUNE READY ASSIGNMENTS The company is hesitating to accept the offer for the fear of increasing its already incurring operating losses
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Cost
& Management Accounting
1. The
CEO of a leading fan manufacturer is concerned about certain teething issues
involving sales of ceiling fans. Ceiling fans come in several models, and each
model has numerous Stock Keeping Units (SKUs) involving different colours,
blade size etc. Tastes and preferences of consumers vary widely across the vast
geography of the country. Recently there have been numerous complaints from the
divisional sales offices across the country that they have received supplies of
fans in colours and blade sizes, which are not popular in their territory. This
has led to loss of sales as distributors in their regions would not accept
those fans. Sales people have not been able to achieve their quarterly sales
targets, leading to demotivation and attrition. The CEO has approached you to
review the Management Accounting process in the company in the light of the
above events. Critically analyze the issues at hand, and suggest a suitable
roadmap for the company to revamp its Management Accounting process. (10 Marks)
2. Due
to economic depression, a company is running its plant currently at 50% of its
capacity. The following details are available:
• Cost of Production per
unit:
Direct Materials – Rs.6
Direct Labour – Rs. 2
Variable Overhead – Rs. 4
Fixed Overhead – Rs. 4
Production per year – 20000
units
Total Cost of Production – Rs.
320000
Total Yearly Sales – Rs. 300000
Loss – Rs. 20000 An exporter
offers to buy 5000 units per year at the rate of Rs. 13 per unit.
The company is hesitating to
accept the offer for the fear of increasing its already incurring operating
losses. Advise whether the company should accept or decline the offer. (10
Marks)
3. A) The budgeted working
conditions for a factory are as follows:
Normal working week - 45 hours
Number of machines – 30
On maintenance etc., normal
weekly loss of hours - 4 hours per m/c
Estimated annual overhead -
Rs.153750
Estimated direct wages rate -
Rs.2.00 per hour
No of weeks worked per year -
50 The company uses Machine Hours as a base for apportioning overhead costs.
Estimate the overhead absorption rate per machine hour. (5 Marks)
3. B) For the above company,
during a four week period, the actual results are as follows:
Overhead incurred - Rs.11000
Wages incurred - Rs. 11200
Machine hours produced - 4500
Calculate the amount of under
or over-absorption of both wages and overheads
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