Economics, Accounting & Business: Post your doubts here!

[SalmanPakRocks]

I need help in Accounting, anyone?
http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_y10_sp_1.pdf
Question No. 4
and can anyone please help me in absorption and marginal costing? i seriously dont get it!
Any help would be appreciated!

Answer should be D for your MCQ. Make an account for disposal, you'd get it.
Sure, I can help you with Marginal and absorption costing, please message me for that as we don't want to make this go off topic.

 

[SalmanPakRocks]

Thankyou

I'm sorry I couldn't find time to do MCQ 10.
The logic for that is simple.
Convert the margin into markup.
30/70 *100 = 42.9%
Now apply it on cost of sales (you can find that out by inventory opening + purchases - inventory closing)
That would give you $7777
Apply markup and you'll get gross profit for september.
$7777*42.9% = $3333
Sales till august was 109340
Apply margin on this to get G.P
$109340 * 30% = $32802 + $3333 = $36135
Therefore, the answer is B

 

[fille spéciale]

wat r corporate aims?

 

[fille spéciale]

Is it okey for me to just remember the names of the roles of the management, and not remember what each role does? Would a question ever come up regarding the description of the management roles?

u may hv to explain ..or atleast mention in brief abt their roles!

 

[Lostsoul]

How to study for paper 1, like Economics and Business studies? Do I have to revise the notes or the past papers is just enough?

 

[fille spéciale]

can anyone please explain to me what target pricing is?

thanks

Pricing method whereby the selling price of a product is calculated to produce a particular rate of return on investment for a specific volume of production.

Read more: http://www.answers.com/topic/target-pricing#ixzz2QN2gIuEg

 

[cool Asviva]

I need help in Accounting, anyone?
http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_y10_sp_1.pdf
Question No. 4
and can anyone please help me in absorption and marginal costing? i seriously dont get it!
Any help would be appreciated!

my ans to mcq no. 4 is A.

 

[Esme]

How to study for paper 1, like Economics and Business studies? Do I have to revise the notes or the past papers is just enough?

If you're thorough with the notes then I think past papers should be enough, but do make sure all your concepts are clear!

 

[Lostsoul]

I dont understand where to get these specimen papers? Are there specimen papers for all the years? for Econ, Business and Accounting?

 

[Esme]

I dont understand where to get these specimen papers? Are there specimen papers for all the years? for Econ, Business and Accounting?

No not all years. If there is a specimen paper for any year, it'll be there on xtreme papers. You can check.

 

[Sarkerms]

http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_w11_qp_42.pdf

In this paper Q2, they are not including the loss from the flood in the income statement. Why so? I understand its a non adjusting event but does that mean we dont put the loss in the income statement as well?

 

[Sarkerms]

Thank you so much for your explaination, can you re-explain the Machinery part, if it's okay for you?
And thanks for confirming it, I got baffled over that MCQ.

That is the treatment for the impairment, you deduct the difference between your cost and the recoverable amount from the cost making your cost the recoverable amount and you remove the entire depreciation till date and change it to 0. Then you transfer the difference between cost and recoverable amount as a loss to the P&L a/c

 

[cool Asviva]

please someone help me in absorption costing...
do we add total fixed cost in cost of good sold? or we have to calculate fixed cost per unit then multiply by units produced?

 

[Lostsoul]

No not all years. If there is a specimen paper for any year, it'll be there on xtreme papers. You can check.

Thanks for clearing my doubt. I wondered and wondered Haha

 

[Lostsoul]

No not all years. If there is a specimen paper for any year, it'll be there on xtreme papers. You can check.

Oww and where the answers available?

 

[Esme]

Oww and where the answers available?

You're welcome
I suppose the mark schemes will also be available on xtreme papers where you get the question paper.

 

[Ferwine222]

Guys anyone can help me on variances? I know theres a formula for it but for this question (no 3) i honestly dont get how do you come up to the answer.

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w12_qp_42.pdf

 

[Lostsoul]

http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_w10_qp_13.pdf
25, 26 and 28.
Help once again

 

[Esme]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w10_qp_13.pdf
25, 26 and 28.
Help once again

Could you tell me the answers for these question, please?

 

[Esme]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w10_qp_13.pdf
25, 26 and 28.
Help once again

I'll try:
Q28 Find the number of hours, that will be (200/20) 10hrs. The actual hours are 25% more so adding 25% to 10hrs gives you (10 x 125%) 12.5hrs. Now calculate total cost 680+(12.5 x 20)+(12.5 x 10)=1055. Deduct from the price to obtain profit of (1260-1055) $205

Q26 As your production is more than 20000 units you need to increase your rent by 50%, 6000 x 150% = 9000. So now your fixed costs will be 15000-6000+9000=18000. fixed cost per unit=18000/30000=0.6. Total cost per unit=0.6+0.6= 1.2.

Q25 We assume the fixed to be distributed equally so 24000 for product X. The contribution is 20-10-4=6. So break even will be 24000/6= 4000 units.

Do check the answers and lemme know if I'm wrong