Class 12 Account Model Question 2080 | Grade 12 Account Question Paper 2080 | Part 1
We present you class 12 account question paper 2080 with some additional questions to be solved by yourself. We hope that we are helpful to you. The following questions are exam-oriented model questions - Set 1.
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| class 12 account question paper 2080 |
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| class 12 account question paper 2080 |
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| class 12 account question paper 2080 |
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| class 12 account question paper 2080 |
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| class 12 account question paper 2080 |
Class 12 Account Important Questions | Practice
1. The information regarding the cost records of the last month is as under:
Direct materials consumption Rs. 2,50,000
Direct labor costs Rs. 2,50,000
Factory overhead Rs. 3,00,000
Office overhead: Rs. 2,00,000
Overheads are to be allocated as under:
- Factory overhead: based on direct labor cost
- Administrative overhead: based on factory cost
The following cost estimations were made for submitting the tender:
- Direct material: Rs. 1,25,000
- Direct labor: Rs. 80,000
- Profit: 20% of sales
Required: Cost sheet showing:
i) Cost sheet of last month ii) Tender sheet
2. The standards fixed for a factory other information are given below:
Standard time allowed = 30 seconds per unit.
Normal wages rate = Rs. 42 per hour.
Working hours per day = 8 hours
Working days = 15 days
Output of the workers: Ram = 18000 units
Hari = 15000 units
Required:
(a) Standard output per hour
(b) Piece wage rate
(c) Wage earned by each worker
(d) Per hour earnings of each worker
(e) Earning per day of each worker
3. A Ltd. took over the following assets and liabilities at an agreed purchase price of Rs.1,16,000.
Building Rs.50,000, Sundry debtors Rs.41,800. Stock in trade Rs.36,000, Cash and bank Rs.2,200, Sundry creditors Rs.31,000, Outstanding expenses Rs.1,000. Towards this, the company issued 1,000 fully paid equity shares of Rs.100 each at Rs.115 per share, as part payment, and the balance amount was paid in cash.
Required: (i) Journal entries (ii) Opening balance sheet
4. From the following figures calculate the economic order quantity.
Annual consumption 4000 kgs
Cost of placing one order 5 kgs
Cost per unit of material Rs. 2 per kg
Storage & carrying cost 8% on average inventory
5. Calculate EOQ and number of orders from the following particulars:
Annual Requirement 1600 units
Cost of material per unit Rs. 40
Cost of placing and receiving one order Rs. 50
Annual carrying cost of inventory 10% of inventory value
6. The time allowed for 10 units of output is one hour. The rate per hour is fixed at Rs. 50 Kamal produced 1000 units during the month.
Required: Earning of Kamal for the month
7. The following information is available from a manufacturing Co.
(a) Normal rate per hour Rs. 18
(b) Standard time per unit 30 seconds
(c) Units produced by the workers
Mr. X: 500 units
Mr. Y: 650 units
Required: Total wages earned by Mr. X and Mr. Y under the piece rate system.