Economics, Accounting & Business: Post your doubts here!

[rosogolla993]

any notes theories of al topics ?

 

[rosogolla993]

nov 2010 p23, q3 ???? i ve no clue of it n also june 2006 p2 q 1 (a,b)

 

[rosogolla993]

can any1 help me wid limited company and jobcosting , process costing sums ??? pls inbox

thanx mate

 

[Hasa321]

Here

Can u explain hw do u get the production as 960 in absorption? Im a bit confused

 

[shaahid]

When a business buys goods on sale or return basis and has not decided whether it wants to keep it at the year end, does it get included in stock?

 

[ariesfun]

http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_s12_qp_22.pdf

QUESTION 3 C HW TO DO?

 

[SalmanPakRocks]

When a business buys goods on sale or return basis and has not decided whether it wants to keep it at the year end, does it get included in stock?

It can't 'buy' if it hasn't decided to keep them or not.

 

[SalmanPakRocks]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s12_qp_22.pdf

QUESTION 3 C HW TO DO?

That's the easiest question ever!?

 

[SalmanPakRocks]

Can u explain hw do u get the production as 960 in absorption? Im a bit confused

Take all the units that you're producing and also add the fixed cost per unit!

 

[Esme]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s12_qp_22.pdf

QUESTION 3 C HW TO DO?

This was my paper last year
Because I haven't solved the previous parts of the question, I can't show you the workings but I can tell you what to do

The OAR that you calculated in b), use that. Like for Machining: OAR x 195000. This gives you the budgeted overheads. Whatever answer you get, subtract it from the actual overheads given (1410 000)
If the budgeted overheads are more than the actual overheads, they have been over-absorbed and vice versa.
Now do the same for Assembly

I hope you got it

 

[Esme]

When a business buys goods on sale or return basis and has not decided whether it wants to keep it at the year end, does it get included in stock?

No it's not included in stock or in purchases.. but using the word 'buys' is wrong since it hasn't decided yet

 

[Esme]

nov 2010 p23, q3 ???? i ve no clue of it n also june 2006 p2 q 1 (a,b)

Please post the link with your doubts

 

[Esme]

SalmanPakRocks

Firstly you need to find the cost of sales.
We take the goods bought by sales staff, 10750. These were bought at cost plus 25%. You can use the sales figure and cost plus 25% to find the cost of sales for these good. That will be 8600.
Now take the net sales. These will be calculated as 128900-9200(sales returns) -29700 = 90000
If you’re wondering why I deducted 29700, it’s because these were sold at cost price so we omit them while we use the net sales figure to calculate our cost of sales. These will be added back later on.
Margin is 33.33% and sales are 90000. So the cost of sales you should get is 60000.
So total cost of sales = 8600+60000+29700 = 98 300

Now:
Opening inventory = 33 000
Purchases = 95 600
Cost of sales = 98 300
The closing inventory you’ll get is 30 300.
20 600 was the value of closing inventory given in the question, so the value of goods destroyed is 30 300-20 600= 9700

 

[ariesfun]

This was my paper last year
Because I haven't solved the previous parts of the question, I can't show you the workings but I can tell you what to do

The OAR that you calculated in b), use that. Like for Machining: OAR x 195000. This gives you the budgeted overheads. Whatever answer you get, subtract it from the actual overheads given (1410 000)
If the budgeted overheads are more than the actual overheads, they have been over-absorbed and vice versa.
Now do the same for Assembly

I hope you got it [/quot

YEAH I GOT IT THAX A LOT

 

[ariesfun]

http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_w11_qp_22.pdf

QUESTION 2 OF THIS PAPER

 

[shaahid]

No it's not included in stock or in purchases.. but using the word 'buys' is wrong since it hasn't decided yet

oh so it gets included only when you have paid for the good?

 

[Esme]

oh so it gets included only when you have paid for the good?

Not necessary only when cash has been paid... it could be a credit purchase too.
When the seller transfers the ownership of the goods to the buyer, through mutual agreement of both parties is when a sale or purchase has taken place...

Don't get too confused, it's really very simple

 

[shaahid]

oh

Not necessary only when cash has been paid... it could be a credit purchase too.
When the seller transfers the ownership of the goods to the buyer, through mutual agreement of both parties is when a sale or purchase has taken place...

Don't get too confused, it's really very simple

i get it now! Thanks alot

 

[Esme]

oh
i get it now! Thanks alot

You're welcome

 

[Taher Se]

hey guys hw did it go...??