This will be very helpful for Anna University MBA Examination. I Did M.B.A 2011-2013 at Jei Mathaajee College of Engineering (Affiliated to Anna University).
Solution Manual
igcse accounts notes 0452Full description
Solution Manual
Solution ManualFull description
The ZICA Manual for Cost Accounting
Solution ManualFull description
accounting
Cost Accounting Quiz
UNSW Accounting Notes
The important defination of accounting
Cost Accounting – ReviewerFull description
seligram excel
Costs in Relation to Manufacturing Departments or Other Segments 1. Direct Departmental Cost – traceable to a specific department 2. Indirect Departmental Cost – not traceable to a specific department & requires allocation Costs in Relation to an Accounting Period Capital Expenditures – benefits future periods (capitalized) 2. Revenue Expenditure – benefits only the current period (expensed) 1.
Costs in Relation to a Decision, Action, or Evaluation 1. 2.
Standard Cost – predetermined estimate of cost on a unit basis Budgeted Cost – predetermined estimate of cost in total
ACCOUNTING FOR LABOR
Provisions of the Labor Code 1. 2. 3. 4. 5. 6. 7.
Weeks of labor 52 weeks (365/7) Overtime pay Regular rate + 25% of regular pay Holiday and Sunday works 100% regular pay 13th month pay is mandatory Minimum vacation leave 5 days Minimum sick leave 5 days Working hours subject to differential/shift pay 10pm-4am & 2pm-10pm
Classifications of Labor 1. 2. 3. 4.
Direct Labor Indirect Labor Labor Losses Labor Overhead
Regular pay P80 x 40 = P3, 200 Overtime pay P80 x 5 = P400 (P80 x 30%) x 5 = P120 Entry: Work in Process Factory Overhead Control Payroll
3, 600 120 3, 720
2. Bonus 2010, profit Bonus Weekly pay
P260, 000 1% P500
Computation: Bonus P260, 000 x 1% = P2, 600 Weekly accrual for bonus P2, 600/52 = P50 Entry: Work in Process Factory Overhead Control Payroll Liability for Bonus
500 50 500 50
3. Vacation/Sick Pay Weekly pay P6, 000 The employees are entitled to 2 weeks vacation leave. Computation: Vacation Pay P6, 000 x 2 = P12, 000 No. of weeks to accrue 52 – 2 = 50 Weekly accrual for vacation pay P12, 000/50 = P240/week Entry: Work in Process Factory Overhead Control Payroll Liability for Vacation Pay
