Cost & Management Accounting (MGT-402) Assignment No. 02 Spring 2012 Idea Solution

Cost & Management Accounting (MGT-402)

Assignment No. 02

Due Date: 4th June 2012 -- 7th June 2012 Marks: 30

Topic: Process Cost Accounting - FIFO Costing Method
Learning Objectives:
The learning objective of this Assignment No. 02 is to encourage the students for
applying their knowledge about FIFO costing, which they have learned during
lesson No. 01 to 27. This will enhance the understanding of the students about
FIFO costing method.
Learning Outcomes:
After solving this Assignment No. 02 the learners (students) are well aware about
the FIFO costing techniques used for calculating the closing WIP cost and the
finished goods inventory.
The Case
Science Developers – a lab instruments manufacturing and marketing company is working in far
flung hilly areas of world renowned Scientific Country. At present, the company is involved in
manufacturing and marketing of one of its famous chemical brand – Chemical. The Country’s
Government has recently given the company an order for delivering Chemical in 500,000 lbs.
The Company has started its work on the project on 1st February, 2012. The company has the
policy to cost material and units on the FIFO method.
On 30th April, 2012, Mr. Processor – In-charge of processing department, presented following
monthly report to Mr. Chief. This report contains information about inventories, costs and
production as under:
March 30 April 30
Materials 100,000 lbs 80,000 lbs
Materials cost Rs. 100,000 ----
Work In Process Inventories:
All Materials, 40% completed as to labor and FOH 20,000 units
Cost Rs. 84,000
All Materials, 331/3% completed as to labor & FOH 30,000 units
Finished goods inventory 40,000 units 24,000 units
Cost Rs. 448,000
Purchase of Materials 440,000 lbs @ Rs. 1.10 per lb
Transferred to production 460,000 lbs
Production ratio – 2 lbs: 1 of Chemical
Completed during the month 220,000 units
Direct Labor Rs. 1,198,800
Factory Overhead Rs. 421,800
Requirement:
Calculate the following: (6 marks each)
a) Equivalent production units of material, labor and FOH
b) Unit costs of three cost elements
c) Cost of units transferred to finish goods inventory, using FIFO costing method.
d) Cost of the ending Work in process inventory
e) Number of units sold and the cost of the finished goods inventory on April 30, 2012 using
the FIFO method.
Instructions:
Please read the following instructions carefully before preparing the assignment solution:
 All Supporting Formulas and calculations are required as they carry marks.
Note:
Only in the case of Assignment, 24 hours extra / grace period after the due date is
usually available to overcome uploading difficulties which may be faced by the
students on last date. This extra time should only be used to meet the emergencies
and above mentioned due dates should always be treated as final to avoid any
inconvenience.
Important Instructions:
Please read the following instructions carefully before attempting the assignment solution.
Deadline:
 Make sure that you upload the solution file before the due date. No assignment
will be accepted through e-mail once the solution has been uploaded by the
instructor.
Formatting guidelines:
 Use the font style “Times New Roman”/ “Arial” and font size “12”.
 It is advised to compose your document in MS-Word 2003.
 Use black and blue font colors only.
Solution guidelines:
 Every student will work individually and has to write in the form of an analytical
assignment.
 Give the answer according to question.
 For acquiring the relevant knowledge don’t rely only on handouts but watch the
video lectures and use other reference books also.
Rules for Marking
Please note that your assignment will not be graded or graded as Zero (0) if:
 It has been submitted after due date
 The file you uploaded does not open or is corrupt
 It is in any format other than .doc (MS. Word)
It is cheated or copied from other students, internet, books, journals etc…
Important Note for those courses where calculations and graphs are
required.

 Calculate to the point where calculation is being required. NO need to write irrelevant
material or extra interpretation.

 Draw diagrams by yourself. Do NOT copy from any source. NO need to write irrelevant
material.

Financial Accounting (MGT101) Assignment no 2 Spring 2012 Idea Solution

SEMESTER “SPRING 2012”
Financial Accounting (MGT101)
Assignment # 02
Due date: 7th June 2012 Marks: 30
Learning objective:
· To educate the students, how to reconcile the bank statement and cash book.
Assignment Question:
Silicon Corporation is operating an official bank account with TIP Commercial Bank and is
enjoying a good credit history for the last 8 years. The Finance Manager of Silicon Corporation
considers the banking channel as a safe mode of payments and receipts. Therefore, most of the
transactions of Silicon are being done through banking system. But one day, upon scrutiny of
entries in the Corporation’s Cash Book and Pass Book of the official bank account, the finance
manager found the following discrepancies:
I. The cash book of Silicon Corporation showed an overdraft balance of Rs. 60,000 on 31st
December, 2011.
II. On 22nd December, cheques totaling Rs. 8,000 were sent to the bank for collection, out of
which cheque for Rs. 1,000 was wrongly debited to cash book by Rs.1,000 and credited to
XYZ. The cheque amounting to Rs. 500 could not collected by the bank till date.
III. An amount of Rs. 1,500 received by the bank on behalf of the corporation, from Mr. ABC
was not appearing in the cash book at all.
IV. A cheque of Rs. 8,000 was issued to a supplier on 28th of December, 2011. This cheque
was presented to the bank on 4th January, 2012.
V. There were two entries of Rs. 4,000 and Rs. 1,200 debited in the Pass Book as interest on
overdraft and bank charges respectively, but both have not been recorded in the Cash
Book.
VI. A direct payment by the bank for insurance premium of Rs. 200 has not been recorded by
the depositor at all.
VII. A cheque for Rs. 1000 was issued to a creditor on 27th December but unfortunately, the
cheque was not en-cashed till 31st December 2011.
VIII. As per the standing instructions, the banker collected dividend of Rs. 1,000 on behalf of
Silicon Corporation and credited the same till 31st December 2011. This fact was however,
intimated to Silicon Corporation on 3rd January, 2011.
IX. A cheque of Rs. 1,500 was drawn on his personal account by the Owner was wrongly
debited to his wife’s account by the bank.
Required:
i. Prepare a Bank reconciliation statement of Silicon Corporation as on December 31st
2011.
(Marks: 18+2)
Note: 2 marks for formatting
ii. Pass necessary journal entries to correct bank column of the cash book. (Marks: 10)
Outcomes of this Assignment:
Students will be able to
· Sort all those entries that could be recorded mistakenly either by customer or by bank.
· Update the cash book of their business or the business which they will serve in near future.
INSTRUCTIONS
Calculate to the point where calculation is being required. NO need to
write irrelevant material or extra interpretation.
Note:
Only in the case of Assignment, 24 hours extra / grace period after the due
date is usually available to overcome uploading difficulties which may be
faced by the students on last date. This extra time should only be used to
meet the emergencies and above mentioned due dates should always be
treated as final to avoid any inconvenience.
Important Instructions:
Please read the following instructions carefully before attempting the
assignment solution.
Deadline:
· Make sure that you upload the solution file before the due date. No
assignment will be accepted through e-mail once the solution has
been uploaded by the instructor.
Formatting guidelines:
· Use the font style “Times New Roman”/ “Arial” and font size “12”.
· It is advised to compose your document in MS-Word.
· Use black and blue font colors only.
Solution guidelines:
· Every student will work individually and has to write in the form of an
analytical assignment.
· Give the answer according to question.
· For acquiring the relevant knowledge don’t rely only on handouts but
watch the video lectures and use other reference books also.
Rules for Marking
Please note that your assignment will not be graded or graded as Zero (0) if:
· It has been submitted after due date
· The file you uploaded does not open or is corrupt
· It is in any format other than .doc (MS. Word)
· It is cheated or copied from other students, internet, books, journals
etc…
Best of Luck!!!!!!!

cs401 Assignment no 3 Spring 2012 Idea Solution

Question:

DC motor (fig 1) is operated through two terminals, whenever the potential difference is created (through batteries, cells etc) across these terminals the motor starts its motion.

           

Suppose we have connected a DC motor to our system’s parallel port through a secure circuitry (fig 3).

We wish to operate the DC motor through our parallel port (fig 2) using some input through our keyboard. Like “F” key for running motor in “Forward Direction”, “R” for “Reverse Direction”, “S” for “Stop” and “E” for “Exit from code”.

We have suggested that we will use parallel port’s Pin 2 and Pin 3 (the last 2 pins of parallel port’s data check fig 2 and table 1).

Pin 2	Pin 3	Outcome
0	0	Stop
0	1	Forward
1	0	Reverse
1	1	No Operation

Table 1

You have to write a code in assembly language that take an input character from keyboard (S, F, R and E) and on the basis of these characters transmit the code (with respect to the truth table) to the parallel port to operate that connected DC motor.

HRM627 GDB no 1 Spring 2012 Idea Solution

liminating illiteracy from developing countries is not easy. Even if a developing country is able to achieve hundred percent primary school enrolments within a decade, it would take another five decades to achieve a hundred percent literacy; because a major proportion of the illiterates in the country would have crossed their schooling age.
Literacy has traditionally been defined in terms of ability to read and write. Currently, educational statistics of such country also include millions of those people who cannot read and write more than their own names.
In your point of view what the leadership of a developing country should do to eradicate the illiteracy?
Important Instructions:

1. Your discussion must be based on logical facts.
2. Your comments on the topic should not exceed 500 words.
3. The GDB will remain open for 2 working days/ 48 hours.
4. Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
5. Obnoxious or ignoble answer should be strictly avoided.
6. Questions / queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of GDB is over.