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Sir the table is like this
2001 price per unit
Flour 0.25$ – egg 1$ – milk 0.3$ – potatoes 0.05$2002 price per unit
Flour 0.03$ – egg 1.25$ – milk 0.35$ – potatoes 0.06$2001 quantities
Flour 8000 kg – egg 4000 box – milk 10000 liter – potatoes 6000 kg2002 quantities
Flour 10000 kg – egg 5000 box – milk 10000 liter – potatoes 10000 kgThank you sir,
Yes, I do see your free lecture notes. They are very effective, and you are the only teacher who explains the formulas in a logical way. I appreciate you taking the time to provide these valuable resources for free. They have been incredibly helpful in my preparation for the Paper MA exam.
Hello Sir
there is a topic by the name of material inventory and variances in standard costing chapter
It’s told that if the material we purchasing is not fully used and inventory remains at end of periodWhen we calculating material price variance the calculation is based on total of material we purchase weather they are used or not
But there is no information what if we have opening inventory as well
The calculation is based on material purchase + opening inventory
Or only based on material purchasedThank you
And sir, I forgot to write this in my previous massage. What if we make the formula a bit easier? Is it right to use:
(Standard usage – Actual usage) x standard cost
Cause by subtracting Standard usage from actual usage, we just know whether we use more or save material than our expectation, and by multiplying the cost, we find how much profit/loss it becomes.
Is it right?
I am sorry sir but I am still confused
We just ignore 3 labour hour of assembly department and 2 machine hour of polishing departmentI apologize for any confusion caused sir and kindly request further clarification.
I am still uncertain about the individual measurements and definitions of these ratios(Capacity, production volume and efficiency).
Can you please take me explanation about what does these 3 ratios individually measure
And could you please provide me a definition for each ratioThank you
It’s mean that cause the company announce this news to workforce and news
This announcement make this highly probable cause it’s unlikely that company will take action contradictory to it’s announcement
Got it sir, Thanks a millionConsider that we drawn 76$ from bank sir, and we already have 29$ dollars in petty cash box and let’s say we treated the IOUs as cash now we have 140$ cash in box
But our petty cash imprest system is in operation of 150$ being maintained
Now we will faced to shortage of cash in this periodSir l am studying bpp book in chapter 10 para 8 describe how to topping up petty cash which run on imprest system
There is 2 methods
1: imprest amount less cash in petty cash box = cash needed
2: total payment less receipt = cash neededIt say total payment not total voucher the IOUs is also refer as a payment and what about advance payment we only reimburse the change
What is your opinion now?
Thank youSir but we are not sure about when we reimburse money from IOUs if we don’t claim it from bank maybe we faced to shortage of cash
There for I think the IOUs also add to voucher total and advance payment and the correct answer is 121
One method to top up a petty cash which run on the imprest system is (imprest amount-cash in petty cash box) page 218 chapter 10 Fa1 bpp book
What is your opinion sir
Thank you