Multiple Choice Questions on In a process A 100 units of raw material were introduced at a cost of Rs 10 000 the other expenditur........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

In a process A 100 units of raw material were introduced at a cost of Rs 10 000 the other expenditur...........

Costing - Phase (I & II) Methods of Costing
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    In a process A 100 units of raw material were introduced at a cost of Rs. 10,000/- the other expenditure incurred by the process was Rs. 6020/- of the units introduced 10% are normally lost in the course of manufacture and they possess a scrap value of Rs. 30 each. The output of process A was only 75 units. The value of Abnormal loss and output will be:

    Rs. 2620/- and Rs. 13,100/-

    Correct Answer

    Rs. 2500/- and Rs. 13,100/-

    Incorrect Answer

    Rs. 2620/- and Rs. 12,100/-

    Incorrect Answer

    Rs. 2520/- and Rs. 12,100/-

    Incorrect Answer

     Cannot be calculated

    Incorrect Answer
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    Explanation:

    Units of abnormal loss will be 100-10-75= 15

    Value of abnormal loss = Normal Cost of Normal Output/Normal Output x units of Abnormal Loss= 10000 + 6020 – 300/100-10 x 15 = 2620/-

    Value of output= Normal Cost of Normal Output/Normal Output x units of Output= 10000 + 6020 – 300/100-10  x 75 = 13,100/-

    By: Vikas Goyal
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