Cost and Managerial Accounting (OBB 601) - Semester VI, Cost and Managerial Accounting, OBB 601, OBB 601 ASSIGNMENT, OBB 601 ASSIGNMENT Section-A, Cost and Managerial Accounting (OBB 601) - ASSIGNMENT

Cost and Managerial Accounting (OBB 601) – Semester VI

Cost and Managerial Accounting, OBB 601, OBB 601 ASSIGNMENT, OBB 601 ASSIGNMENT Section-A, Cost and Managerial Accounting (OBB 601) – ASSIGNMENT


Cost and Managerial Accounting (OBB 601) – Semester VI

Assignment: Section-A

  • You will be required to complete all Assignments in each Course for successful completion of your Internal Assessment.
  • This section contains 5 essay type questions out of which 3 needs to be attempted.
  • Answers should not be repeated and if found so, they may be discarded by the evaluator.
  • Uploading of files & web links are not permitted.
  • Please write in the answer box provided.
  • Answers may be expected within the word limit of 300 words.
  •  The total time allotted for this section is 420 minutes (7 Hours).
  • Once initiated, the assignment needs to be completed within 7 Hours. The assignment will be auto submitted after the prescribed time.

Questions Are Given Below:-

Q1- What do you mean by a different element of cost and what are different types of cost?

Q2- Explain the cost control and how it is different from cost reduction.

Q3- What are different methods of costing and also give one example in each method.

Q4- Explain variance analysis and what are its objectives. 

Q5- What do you mean by overheads and how overhead absorption is calculated? 


Q1 – What do you mean by a different element of cost and what are different types of cost?

Answer: There are mainly three types of cost(s), They are:-

  1. Material Cost: This is the cost of material or the commodity used by the organization for its production purpose. Material is the substance, from which a product is made. Thus, it may be in a raw or a manufactured state. It can be direct or indirect.  Or, Material cost refers to the cost of substances from which the product is made. Materials enter into the production process and form part of the finished product. For example, paper used in book.

(a) Direct Material Cost forms an integral part of the finished product and is identified with the individual cost center. It is also described as process material, stores material, production material, etc. Example: Raw materials purchased or purchased primary packing material, etc.

(b) Indirect Material Cost is used for ancillary purposes of the business and cannot be conveniently identified with the individual cost… Please Visit & Purchase The Full Answer Key.


Q4 – Explain variance analysis and what are its objectives.

Answer: Variance analysis measures the differences between expected results and actual results of a production process or other business activity. Measuring and examining variances can help management contain and control costs and improve operational efficiency.

Prior to an accounting period, a budget is made using estimates of material and labor costs and amounts that will be required for the period. After the accounting period, compare the actual material and labor costs and amounts to the estimates to see how accurate the estimates… Please Visit & Purchase The Full Answer Key.


Q2. Explain the cost control and how it is different from cost reduction.

Answer – First let us discuss about the cost control,

Business firms aim at producing the product at the minimum cost. It is necessary in order to achieve the goal of profit maximization. Profit is the difference between selling price and cost of production. Generally, the selling price is not within the control of a firm but it can minimize the cost. In fact, the success of a business firm is judged in controlling its costs. Cost control by management means a search for better and more economical ways of completing each operation. Cost control is simply the prevention of waste within the existing environment.

It aims at reducing costs and increasing the profitability of the firm. This is done by reduction in specific expenses of the firm and making a better use of the money spent. If a firm is producing… Please Visit & Purchase The Full Answer Key.


 

BBA – Business Law (Semester 3) | (Case Study “Bailor & Bailee”)

Here is a case study on “Bailor & Bailee” from Amity University Online of semester 3, Maybe it can come to some other colleges too. Just take the solution of this case study below. Please note that we have an incomplete solution for this case study. So, Let’s decode some headings – Semester 3 Business Law / Business Law Assignments / Solved Assignment For Semester 3 / Amity University Solved Assignment & Case Study Bailor & Bailee,




Case Study Bailor & Bailee (Sudarshan And Raghman)

Bailor & Bailee,
Sudarshan bails a certain quantity of “First Grade” petrol, to be stored safely till the end of March 2011. Raghman, without the consent of Sudarshan, mixes the first-grade petrol with his own “Second Grade” petrol on 1st April 2011, when Sudarshan asked Raghman for his first-grade petrol Raghman tells him to take the bailed quantity of petrol out of the mixed petrol. Sudarshan refused to take the mixed petrol and instead claims the prices of the “First Grade” petrol, which is higher than “Second Grade”. Raghman refuses to compensate Sudarshan for the above on the ground of impossibility of performance.

Question 1: Whether Raghman is liable to compensate Sudarshan for the loss?

Question 2: Can Raghman be held liable for bearing the expenses which might be incurred for the separation of the two kinds of goods? If it was not petrol but the goods which are capable of being separated?

Question 3: With regard to the provisions of the act explain the duties of bailor and bailee.


Solution For Case Study “Bailor & Bailee” (Sudarshan And Raghman)

Question 1: Whether Raghman is liable to compensate Sudarshan for the loss?
Answer – Here we can think Sudarshan as a Bailor and Raghman as a Bailee. And It was a clear cut mistake done by Raghman because he has failed to do his job and also failed to complete his duties as bailee. Please See The Full Answer Here.

Question 2: Can Raghman be held liable for bearing the expenses which might be incurred for the separation of the two kinds of goods? If it was not petrol but the goods which are capable of being separated?
Answer – If the goods can be separated then maybe Raghman does not need to pay the compensation. If it was not petrol but the goods which are capable of being separated then Raghman would try to separate the product and if he gets success then he does not needs to pay any compensate and can give the right product of Sudarshan to him. Please See The Full Answer Here.




Question 3: With regard to the provisions of the act explain the duties of bailor and bailee.
Answer – With regard to the provisions of the act, The duties of bailor and bailee are as follows:-
Bailment refers to the Person who does the delivery of goods. Also, We can say that such delivery is for a temporary purpose and after the fulfillment of which the bailee shall either return the goods in the same or altered form or dispose of them. Please See The Full Answer Here.


If You Are Looking For Full 300+ Words Answers In Each Question? Then You Can Easily Get The Answers From The PDF File Which Is Listed Here At Just ₹49. Click Here To Download PDF File.

Why We Can’t Post The Full Answer Here?
Because This Case Study (Or Answer) Has Been Submitted To Us By One Of Our Student “Khushi”. So, For Her Such Hard Work, You Need To Pay Just ₹49 To Get The Full Case Study In PDF File, Get The PDF File From Here. You Can Easily Purchase The PDF File Online Via Wallets/Credit Card/Debit Card/Net Banking, Etc. Amity University Solved Assignment / Business Law Assignments.





 

BBA – Accounting For Managers (Semester 3) | (Case Study “Lucky Ltd.)

Here is a case study on “Lucky Ltd. company” from Amity University Online of semester 3, Maybe it can come in some other colleges too. Just take the solution of this case study below. Please note that we have an incomplete solution for this case study. So, Let’s decode some headings – BBA Accounting For Managers, Lucky Ltd. Case Study, Case Study Lucky Ltd. Company.




Check All NCERT Solutions For Class 12 Of All Subjects


Case Study – Case Study Lucky Ltd. Company

“Lucky Ltd. invited applications for 50,000 equity shares of Rs. 10 each, payable as Rs. 2 on the application, Rs. 3 on the allotment and the balance on the first and final call. Applications were received for 1,50,000 shares and the share were allotted on a pro-rata basis, The excess application money was to be adjusted against allotment only. Maya, a holder who had applied for 1,500 shares, failed to pay the call money and her share was forfeited and was reissued @ 8 per share as fully paid.”


Q. 1 What amount of bank received by Lucky Ltd.?
According to Lucky Ltd.,
Lucky Ltd. invited applications for 50,000 equity shares of Rs. 10 each, payable as Rs. 2 on the application, Rs. 3 on the allotment and the balance on the first and final call. Applications were received for 1,50,000 shares and the share were allotted on a pro-rata basis, The excess application money was to be adjusted against allotment only.
To, share application A/C = ₹3,00,000

Hence, [150000 x 2] = Bank A/c Dr. = ₹3,00,000






Q. 2 What amount of Share capital will be shown in the balance sheet of Lucky Ltd.?
Around 7,500 will be shown in the balance sheet of Lucky Limited.
To, share forfeiture A/C = 7500
To, call in arrears A/C = ₹7500 [forfeiture of share]

Q. 3 What amount will be transferred to the capital reserve account.
According to Lucky Ltd.
Bank A/c Dr. = ₹3,00,000
To, share application A/C = ₹3,00,000
Hence, [150000 x 2]
[being application money received @ Rs. 2 per each]
Share application A/C Dr. = ₹300000
To, share capital A/C = ₹100000
To, share allotment A/C = ₹150000
To, bank A/C = ₹50000 [application money adjusted]
share allotment Dr. = ₹150000
To, share capital A/C = ₹150000 [allotment money received]
Share first & final call A/C Dr. = 250000
To, share capital A/C = 250000 [due on first & final call]
To bank A/C Dr. = 242000
call in arrears A/C Dr. = 7500
To, share first & final call A/C = 250000 [first & final call money received]
share capital A/C Dr. = 150000
To, share forfeiture A/C = 7500
To, call in arrears A/C = ₹7500 [forfeiture of share]
bank A/C Dr. = ₹12000





share forfeited A/C Dr. 3000
To, share capital A/c = 15000 [1500 share reissued]
share forfeited A/C = 4500
To, capital reserved A/C = 4500
The being amount transferred from share forfeited to capital reserved.
Therefore, ₹4500 will be transferred to the capital reserve account.


 

Case Study Lucky Ltd. Company, What amount will be transferred to the capital reserve account? , Case Study Lucky Ltd. Company , Lucky Ltd. Case Study ,  BBA Accounting For Managers




Chemistry (Class 12) Assignment/Projects (Pakur Raj +2 High School)

Hello Friends, Welcome To Study24Hours.Com, In This Webpage You Can Find And Download The Chemistry (Class 12) Assignment/Projects (Pakur Raj +2 High School). The Project Available Here Is Very Good Designed By Ronit Shill (Passed Student). The Topic Of The Project Is Best Cleansing Agents Of Soaps In Terms Of Quality & Quantity.

You Can Download The Project Easily From The Download PDF Button Below. (For The Session 2017-2018)


Download The Chemistry (Class 12) Assignment/Projects (Pakur Raj +2 High School)

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Chemistry (Class 12) Assignment/Projects (Pakur Raj +2 High School)

The Project Is From Chemistry Subject Of Your Class 12.
He was Prepared The Project In The Topic Of “Best Cleansing Agents Of Soaps In Terms Of Quality & Quantity”. And Submitted To Ravindra Sir & Examiner – B.Mandal. (For The Session 2017-2018) [Download Chemistry Class 12 Assignments Chemistry (Class 12) Assignment/Projects (Pakur Raj +2 High School)].


School Name – Pakur Raj +2 School (Pakur),
Ward No. 2
Management: Dept. of Education Village
Category: P. with U.Primary
Type Of School: Co-Educational
Block Name: Pakur

School Code: 20101003004
Name of the Head Master: N/A
Year Of Recognition: 1971
Lowest Class In School: 1
Highest Class In School: 8

Medium Of Instruction: Hindi / English (Also Available).
Online Education: Not Available
Non-Attending Education: Not Available (75% + Attendance Needed)
Distance Education: Not Available.


Class 12 Chemistry Notes For Pakur Raj +2 School (Pakur), Jharkhand. You Can Find All The Notes & Assignments / Projects Of Your all Subjects Here In This Website. Kindly, Always Feel Free To Visit Us. Thank You.

Are You Looking For Colleges In Pakur, Jharkhand? Than Just Check Some Of The Direct Links Below:-

1. Pakur Polytechnic College 

2. Pakur BEd College