Class 12 NEB Accounts Question Paper with Solutions
This is the collection of NEB class 12 account questions with solutions. We hope that this collection of solutions will help you clear the doubt you are having on account subjects.
Practice yourself questions for account class 12
[4+6]
1. Cost information of a manufacturing company is given below.
Direct material:... 30,000 units @Rs. 20: Rs. 6,00,000 Direct labor cost...... Rs. 3,00,000
Factory overhead.......................Rs. 1,80,000 Administrative overhead... Rs. 1,08,000
Selling and distribution overhead................Rs. 54,000
The following estimation of cost was made for submitting a tender.
Direct material............................20,000 units @Rs. 25
Direct labor cost........................................Rs. 2,50,000
Basis of allocation of overhead:
- Factory overhead based on prime cost:
- Administrative overhead based on factory cost
- Selling and distribution expenses based on factory cost
- Net profit - 10 percent of sales
Required: a. Cost sheet of the previous period. b. Tender sheet
Ans: (a) Total cost Rs. 12,42,000; (b) Tender Price Rs. 11,50,000
[4+6]
2. A production unit showed the following details of its production cost for 2000 units of the previous year:
Direct materials........Rs. 50,000 Direct wages:......................Rs. 30,000
Factory overhead:... Rs. 10,000 Administrative overhead:.. Rs. 16,000
Selling expense.........Rs. 3,000 Profit............... 20% of selling prices
The Department wants to estimate the total cost of and selling price for 1000 units. It is estimated that:
- The cost of raw materials will be increased by 20%
- Wages cost will be increased by 30%
- Other overheads are allocated under
Factory overhead is based on direct wages office overhead and selling expenses are based on factory cost.
Required: a. Cost sheet for the previous year. b. Tender sheet with the selling price
Ans: (1) Sales Rs. 136,250 (ii) Tender price per unit Rs. 84.778
[4+6]
3. The cost information of a manufacturing company for 5000 units of output is given below:
Opening stock of raw materials. 50,000 Closing stock of raw materials... Rs. 80,000
Indirect wages.......................Rs. 30,000 Rent factory................ Rs. 10.000
Depreciation....................Rs. 10,000 Salary of salesman ...... Rs. 6,000
Freight outward.............Rs. 1000 Purchase of raw materials......... Rs. 1,70,000
Direct wages.................Rs. 1,20,000 Indirect materials............ Rs. 4,000
Rent office.....................Rs. 6,000 Staffs salary..........Rs. 20,000
Traveling expenses of salesman.....Rs. 50,000 Profit.........20% on sale
Required: a. Statement of cost showing prime cost, Factory cost, Production cost, profit, and sales.
b. Percentage of factory overhead on direct wages.
c. Amount of net profit when it is 25% of total cost.
Ans: (a) Rs. 260,000; Rs. 314,000; Rs. 3,40,000; Rs. 88,000; Rs. 440,000 (b) 45% (c) Rs. 88,000