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Dear students, some changes have been come into effect since last two years , so while preparing for exams for November 2015 onwards, thes...
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Question 1: The following information has been extracted from the books of Goru Enterprises which is using standard costing system: ...
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CA GAAP BRIGHT: IDT Amendment for May'14
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Monday, 25 May 2015
New topics / Change Topics / New Point In AMA Incorporated in CA SANJAY AGGRWAL Sir New Classes
Monday, 13 April 2015
Motivational Speech by CA Sanjay Aggarwal
Wednesday, 1 April 2015
SPECIAL MESSAGE FOR CA FINAL COSTING & OR (AMA) BY CA SANJAY AGGARWAL
Dear students, some changes have been come into effect since last two years , so while preparing for exams for November 2015 onwards, these changes are relevant as these changes have been incorporated in RTP (issued by ICAI), practice manual and mock test papers of ICAI.
Thursday, 5 March 2015
STANDRAD COSTING UNSOLVED QUESTIONS IN THE CLASS_Solved_Question
Question 1: The following
information has been extracted from the books of Goru Enterprises which is
using standard costing system:
Actual output
|
= 9,000
units
|
Direct wages paid
|
=
1,10,000 hours at ` 22 per hour, of which 5,000
hours, being idle time, were not recorded in production
|
Standard hours
|
= 10
hours per unit
|
Labour efficiency variance
|
= `
3,75,000 (A)
|
Standard variable Overhead
|
= `
150 per unit
|
Actual Variable Overhead
|
= `
16,00,000
|
You are required to calculate:
(i) Idle time variance.
(ii) Total variable overhead variance.
(iii) Variable overhead expenditure variance.
(iv) Variable overhead efficiency variance. (ICAI)
Solution:-
Basic Workings
Actual
Output
|
9,000
units
|
Idle
Time
|
5,000
hrs
|
Production
Time(Actual)
|
1,05,000
hrs
|
Standard
Hours for Actual Production
|
90,000
hurs
|
(10
hours/unit X 9,000 units)
|
|
Labour
efficiency variance
=
3,75,000(A)
=
Std.Rate
|
=Standard
cost of Standard Time for Actual Production – Standard Cost of Actual Time
OR
=Std.
Rate X(Std. Hours –Actual Hours Worked)
=Std.
Rate X (90,000 hrs – 1,05,000 hrs)
= ` 25
|
Standard
Variable Overhead
|
= ` 150/umit
|
Standard
Hours
|
= 10
hrs/unit
|
Standard
Variable Overhead Rate/hr
|
=`150/ 10 hrs
|
=` 15/hr
|
Computation of Requirements
(i)
Idle Time variance
|
=
Standard Rate per Hour X actual idle Hours
=` 25 X 5,000Hrs.
=
1,25,000(A)
|
(ii) Total Variable Overhead Variance
|
Standard
Variable Overhead for Production- Actual Variable Overheads.
=`15X(10hrs X 9,000 units) -16,00,000
= ` 13,50,000 - ` 16,00,000
= ` 2,50,000(A)
|
(iii) Variable Overhead Expenditure Variance
|
=Budgeted
Overheads for Actual Hours worked –Actual variable Overheads
= `15 X 1,05,000 hrs - `16,00,000
= `15,75,000 - `16,00,000
= `25,000(A)
|
(iv) Variable Overhead Efficiency Variance
|
=Standard
Variable Overhead for output-Budgeted Overheads for Actual Hours
OR
=
Standard Rate per hour X (Standard Hours for actual Output-Actual Hours
Worked)
= ` 15 X (90,000 hrs – 1,05,000 hrs)
= ` 2,25,000(A)
|
Ø
Overheads can also be affected by
idle time. IT is usually assume that overheads expenditure is incurred in
active hours only.
Friday, 20 February 2015
FINAL - Indirect Tax Laws (Amendment Class) Complete Live Lecture + Books + Question Bank
Wednesday, 18 February 2015
CA FINAL IDT Rapid Revision Classes
Saturday, 14 February 2015
CA Final IDT Latest Notes Amendment Applicable May 2015
Wednesday, 28 January 2015
SANJAY SIR COSTING & OR DEMO DEMO
Monday, 26 January 2015
Happy Republic Day 2015! India is celebrating the 66th Republic Day
Tuesday, 20 January 2015
CA IPCC Final Exam Time Table May 2015
Monday, 19 January 2015
Schedule of Fast Track Batches of Costing_(AMA)_Applicable May_2015_Join Fast Track Revision Batch for CA Final Cost OR by CA Sanjay Aggarwal
Saturday, 10 January 2015
CA Final IDT Amendment Applicable May 2015
Saturday, 27 December 2014
Gaap Bright Offers Satellite classes for CA
Wednesday, 24 December 2014
Christmas is celebrated to remember
Saturday, 1 November 2014
Registered Today
Thursday, 9 October 2014
DR. DEEPAK JAGGI (ACCOUNTING)
Tuesday, 7 October 2014
CA Trainer- One of the most Popular Teacher
Thursday, 11 September 2014
CA_Final_IDT_Amendment_ Batch_schedule
Date:- 25th, 27th & 30th Sept'14
Days:- T/T/S
Time:- 5:15PM - 9:00PM
Fees:- Rs.500 for old students of gaap bright and Rs.1000 for other students. Included books cost.
Wednesday, 10 September 2014
CA_Final_IDT_Amendment
IDT Amendment Classes :-
Date:- 25th, 27th & 30th Sept'14
Days:- T/T/S
Time:- 5:15PM - 9:00PM
Wednesday, 20 August 2014
ca final idt amendments for nov 2014
ca final idt amendments for nov 2014
Thursday, 14 August 2014
CA Final LAW Amendment Batch Schedule For NOV - 2014
Monday, 21 July 2014
GOLDEN OPPORTUNITY FOR NEW BATCH OF CA -IPC TAXATION BY CA MANOJ BATRA SIR & CA RANJEET KUNWAR SIR
| Contact details | +919903794846, +919883838834 |
| Email Address | kolkata@gaapbright.com |
| Address | 7/1B, Jatindra Mohan Avenue, Beadon Street, (Near Girish Park Metro), Kolkata-700006 |
Saturday, 28 June 2014
Final Audit June 2014 Classes Time table
Sunday, 13 April 2014
CA GAAP BRIGHT: Amendment for CA-Final May,2014 Examination
Amendment for CA-Final May,2014 Examination
CA Munish Bhandari sir has given completed details related to Amendment
Please find below the link.
For more details please visit :
Saturday, 5 April 2014
CPT Demo Classes
Friday, 28 March 2014
IDT Amendment for May'14
IDT Amendment for May'14
Wednesday, 26 March 2014
FREE ... FREE.......FREE wealth-tax Class
Wednesday, 19 March 2014
Amendment batch of CA Final Indirect Tax May 2014
Dear All,
Amendment class of CA Final Indirect Tax by CA Manoj Batra sir will be
conducted as per below mentioned schedule.
Subject:- CA Final Indirect Tax Amendment
Date:- 1st,3rd,5th & 6th April'14
Time:- 10:45am to 2:00pm
Course fees:- Rs.300 for Old students of IDT and Rs.600 for other
students
Note:- This fee is applicable for those students, who wants to join only
Amendment classes. Those students, who has already joined Revisionary Cum
Amendment batch they don't need to pay for Amendment classes.
Tuesday, 18 March 2014
Batch schedule for Final Audit Amendment
Dear All,
We are going to conduct Final Audit Amendment classes as per below
mentioned schedule. We are not going to charge anything from students except
book cost.
Subject:- Final Audit (Amendment)
Date:- 25th, 27th, 28th & 29th March'14
Timing:- 5:00pm to 9:00pm
Course fees:- Nil
Book cost:- As per actual
IDT Revision Classes for May 2014
Monday, 17 March 2014
DT AMENDMENT CLASSES
CA Final Examination
May and Nov 2014
Direct Taxes
By
FCA Ranjeet Kunwar
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