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Friday, January 18, 2013

MGT402 Assignment no 2 Due Date 22-01-2013


SEMESTER FALL 2012
COST AND MANAGEMENT ACCOUNTING (MGT402)
ASSIGNMENT NO. 02
DUE DATE: 22nd JANUARY 2013
MARKS: 30
TOPIC TO BE TESTED:
• Process costing
LEARNING OBJECTIVES:
• To develop an understanding for the preparation of “Cost of Production report”.

ASSIGNMENT QUESTION:

Alec Ltd. is one of the largest electronic equipment producers in the country. It
undertakes the work according to the consumer tastes and preferences. Following data is
for the December 2012.
Cost from department - 1 Rs. 10,000
Cost added in department - 2:
Material Rs. 40,000
Labor Rs. 50,400
FOH Rs. 67,200

The quantity schedule shows that 20,000 units were received during the month from the

department - 1 and 12,000 units transferred to finished goods storeroom. 8,000 units in
process were 100% complete as to material and 60 % complete as to the conversion cost.
By using the above information, you are required to prepare/calculate:
1. Quantity schedule. 02 Marks
2. Cost accumulated in the department. 06 Marks
3. Accounting treatment / Cost apportionment. 09 Marks
4. Equivalent production units for material & conversion cost. 03 Marks
5. Per unit cost. 07 Marks

(NOTE: 03 MARKS FOR GOOD FORMATTING AND PRESENTATION)


IMPORTANT:

24 hours extra / grace period after the due date is usually available to overcome uploading difficulties. 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/ SOLUTION GUIDELINES/ SPECIAL INSTRUCTIONS
• Take help from internet for collecting the information.
• Carefully watch Lecture # 19 to 26 and consult the relevant material from handouts along with recommended/reference books books.
• Attempt the assignment by yourself and it will be entertained positively.
OTHER IMPORTANT INSTRUCTIONS:
DEADLINE:
• Make sure to upload the solution file before the due date on VULMS.
• Any submission made via email after the due date will not be accepted.
FORMATTING GUIDELINES:
• Use the font style “Times New Roman” or “Arial” and font size “12”.
• It is advised to compose your document in MS-Word format.
• You may also compose your assignment in Open Office format.
• Use black and blue font colors only.
REFERENCING GUIDELINES:
• Use APA style for referencing and citation. For guidance search “APA reference style” in Google and read various website containing
information for better understanding or visit
http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html
RULES FOR MARKING
Please note that your assignment will not be graded or graded as Zero (0), if:
• It is submitted after the due date.
• The file you uploaded does not open or is corrupt.
• It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.
• It is cheated or copied from other students, internet, books, journals etc.
Note related to load shedding: Please be proactive
Dear students!
As you know that Post Mid-Term semester activities have been started and load shedding problem is also prevailing in our country now a days. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.

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IDEA SOLUTION



My answers are:
Quantity schedule. 20,000
Cost accumulated in the department. Rs.167,000
Accounting treatment / Cost apportionment. 319,124
Equivalent production units for material & conversion cost.20000,20000,16800,16800 respectively
Per unit cost. 15.76, 2, 3 , 4 respectively n sum is 24.76

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1- QUANTITY SHEDULE
Units transferd 12000
in process 8000
2- cost accumulated
deprtmnt 1 10000
material 40000
labor 50400
FOH 67200 167600
3- accounting treatment
12000 x 9.5 114000
units in process
from dep 1 8000 x .5 4000
matrl 8000 x 2 16000
labor 4800 x 3 14400
foh 4800 x 4 19200
4- Equivalent units
material 12000 + 8000 20000
conversion cost 12000 + 4800 16800
unit cost
previous deprtmnt 10000/20000 0.5
material 40000/20000 2
labor 50400/16800 3
foh 67200/16800 4
per unit cost total 9.5
please share ur solution if this is incorrect.

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List of Merit Position Holders of Fall 2011 and Spring 2012 Graduating Semesters (4th Convocation)


Published On:  Friday, January 18, 2013
List of Merit Position Holders of Fall 2011 and Spring 2012 Graduating Semesters (4th Convocation)
Fall 2011 
Batch:0802 (4 Years BS Programs)
Position
Student ID
Student Name
CGPA
                BS-Business Administration
1st
bc080200303
 Anum Tufail
3.20
2nd
bc080200335
 Yasmeen Masood
3.04
                BS-Information Technology
1st
bc080201151
 Muhammad Abdullah Awais
3.64
2nd
bc080200896
 Samran Azam
3.63
3rd
bc080200074
 Sumayya Fatima Siddiqui
3.11
                BS-Mass Communication
1st
bc080200239
 Abida Mehboob
2.73
Batch:1002 (2 Years Bachelor  Programs)
                B COM
1st
bc100200917
 Sobia Sajjad
3.73
2nd
bc100200575
 Aqsa Bashir Khan
2.86
                BA
1st
bc100201621
 Fakhar Shafique
3.30
                BA-Business Administration
1st
bc100200089
 Sadaf Latif
3.45
2nd
bc100201394
 Nighat Hameed
3.24
3rd
bc100201961
 Saliha Mehreen
3.08
               BA-Mass Communication
1st
bc100200886
 Faisal Sadruddin
3.34
2nd
bc100201101
 Anthony Aril Sam
3.10
3rd
bc100201182
 Kinza Masood
3.06
                BA-Psychology
1st
bc100200063
 Ruqia Kalsoom
3.33
2nd
bc100200632
 Muhammad Sarfraz
3.17
                BSc-Computer Science
1st
bc100201449
 Sibghatullah Khan
3.53
2nd
bc100202375
 Syed Muhammad Intizar Hussain
3.31
3rd
bc100200439
 Faisal Islam
3.12
Batch:1002 (2 Years Master Programs)
               MCS
1st
mc100201072
 Muhammad Saqib Ajmal
3.93
2nd
mc100203592
 Muhammad Muzaffar Iqbal
3.80
3rd
mc100205815
 Saira Qamar
3.77
               MIT
1st
mc100203387
 Ghulam Akbar
3.78
2nd
mc100200273
 Usman Haider
3.54
3rd
mc100201037
 Muhammad Nadeem
3.06
               MBA
1st
mc100202317
 Raheel Ahmad
4.00
2nd
mc100202420
 Muhammad Hussain Qureshi
3.95
3rd
mc100200564
 Tabish Ahmed
3.91
Batch:1004 (1.5 Years Program)
               MBA (36 Cr. Hrs. / 1.5 Years)
1st
mc100400582
 Muhammad Saqib
3.44
2nd
mc100401461
 Taimoor Iqbal
3.37
3rd
mc100402787
 Adeel Raheem
3.00
Spring 2012  
Batch:0804 (4 Years BS Programs)
Position
Student ID
 Student Name
CGPA
                BS-Accounting & Finance
1st
bc080402463
 Ozair Asif
3.73
                BS-Business Administration
1st
bc080401609
 Muhammad Abdul Mannan
3.57
2nd
bc080401157
 Sobia Sadaf
3.21
3rd
bc080400235
 Nuseiba Naqvi
3.11
                BS-Computer Science
1st
bc080401050
 Yasar Bashir
3.41
2nd
bc080400096
 Arifa Shaukat
3.36
3rd
bc080400872
 Junaid Akram
3.32
                BS-Information Technology
1st
bc080400321
 Muhammad Ali Hassan
3.05
                BS-Mass Communication
1st
bc080400421
 Amna Danish Moeen
3.27
2nd
bc080400437
 Beenish Amjad
2.96
Batch:1004 (2 Years Bachelor Programs)
                B Com
1st
bc100400914
 Abu Bakar Bin Rizwan
3.15
2nd
bc100401286
 Mushtaq Hussain
2.93
                BA
1st
bc100403380
 Saman Yusuf
3.17
2nd
bc100403119
 Khadija Maeen
3.11
                BA-Business Administration
1st
bc100402531
 Siraj Ali
3.30
2nd
bc100400103
 Muhammad Nabeel Ikram
3.19
3rd
bc100402380
 Shazia Noreen
3.02
                BA-Mass Communication
1st
bc100402476
 Zahid Farooq
3.85
2nd
bc100400443
 Sammiya
3.45
3rd
bc100403362
 Sundas Shahid
3.37
                BA-Psychology
1st
bc100403396
 Saba Shakeel
3.37
2nd
bc100403030
 Sayed Muhammad Rajai
3.31
3rd
bc100401825
 Hafiz Talal Hassan Khan
3.13
                BSc-Computer Science
1st
bc100401196
 Farhan Tahir
3.78
2nd
bc100400164
 M. Adnan Ayub
3.33
3rd
bc100401057
 Tasaddaq Aziz
3.25
Batch:1004 (2 Years Master Programs)
               MCS
1st
mc100401687
 Ghulam Mustafa
3.91
2nd
mc100401246
 Faizan Liaqat
3.89
3rd
mc100400189
 Ata Mustafa
3.84
               MIT
1st
mc100401145
 Mahzaib Ali
3.74
2nd
mc100401810
 Malik Saqib
3.73
3rd
mc100403283
 Muhammad Farooq Murawat
3.71
Batch:1102 (1.5 Years MBA Program)
               MBA (36 Cr. Hrs. / 1.5 Years)
1st
mc110200448
 Muhammad Hassan Bashir
3.58
2nd
mc110200594
 Nazia Asghar
3.51
3rd
mc110202143
 Sahar Iftikhar
3.50
Batch: 1004 (MBA-Executive Program)
              MBA-Exec. (72 Cr. Hrs. / 2 Years)
1st
mc100403071
 Syed Azfar Raza
3.99
2nd
mc100403982
 Ayesha Ali
3.75
3rd
mc100401866
 Shahzad Mirza
3.69
Errors and Omissions Excepted up to Janurary 31st , 2013
            CRITERIA

To qualify for Merit Positions, students 
A) MUST have:
a) Completed their studies within the prescribed minimum period for the degree program.
b) Secured the highest CGPA in the respective study program (top three students only).
(Explanation: Students having the same highest CGPA will be assessed on the basis of overall marks percentage of the courses). 

B).MUST NOT have: 
a) CGPA less than 2.5
b) Failed/Repeat course(s) 
c) Extra semester(s)
d) Exempted course(s)
e) Converted course(s)
f) Convicted in Unfair Mean Case(s)
g) Studied deficiency course(s) 
h) Changed study program




                   

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