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Author Topic: Accounting AS level doubt!  (Read 6963 times)

Offline Dasith

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Re: Accounting AS level doubt!
« Reply #30 on: May 24, 2011, 05:40:55 pm »
Quote from: mimiswift on May 24, 2011, 05:32:49 pm
ur welcome again syeda
can someone pls pls explain costing chpters to me...pls pls pls.....im gonna die if i dont understand!...i did a qns on it and i got 2/30!
PLS HELP ME OUT

costing in marginal u take only the variable costs as varing factors with production FC is the same,Stock is values ON VC

In absorption ALL the costs involved in production vary , In valuing stock u take the full vale i.e VC + FC per unit

got it ?

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Offline Tohru Kyo Sohma

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Re: Accounting AS level doubt!
« Reply #31 on: May 24, 2011, 05:44:22 pm »
 ???
im so lost......where did OAR go and what about job, batch and unit costs go and what about break-evens!
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #32 on: May 24, 2011, 05:49:30 pm »
OAR is needed when aportioning the FC into units , u devide FC/by a choosen OAR base e.g Direct labour hrs
& calculate Total Fixed overheads for a given output

i.e OAR x Direct labour hrs(in example) x units
to get total Overheads.

Under/Over absorbtion is calculated by comparing the obtained value with Fixed Cost as given in question.
If FC > Calculated value its under absorbed
else  Over absorbed ? get that?
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Saavya

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Re: Accounting AS level doubt!
« Reply #33 on: May 24, 2011, 06:07:01 pm »
Dasith are there any questions in the pastpapers about batch and job costing in the summer session ??
i dont think so i came over any  :-\

mimi

you have to know the difference between continuous and specific order operations
learn also the characteristics and examples of job costing
and learn to explain the difference between job costing and batch costing

^ u should have them in your textbook, learn them
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #34 on: May 24, 2011, 06:12:19 pm »
Quote from: Syeda S. Nasir on May 24, 2011, 06:07:01 pm
Dasith are there any questions in the pastpapers about batch and job costing in the summer session ??
i dont think so i came over any  :-\

mimi

you have to know the difference between continuous and specific order operations
learn also the characteristics and examples of job costing
and learn to explain the difference between job costing and batch costing

^ u should have them in your textbook, learn them


wat u mean by summer session ??
hmm but i saw some questons on batch & job costing in AS papers
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #35 on: May 24, 2011, 06:23:08 pm »
Quote from: mimiswift on May 24, 2011, 05:44:22 pm
???
im so lost......where did OAR go and what about job, batch and unit costs go and what about break-evens!

hmm about job & batch its actually based on the Marginal & absorption
wat u gotta do is alocate the costs on a base to a batch or unit
i.e of course as the data given in question.

Break even is where Take care= TR
no profit, no loss

or u could say its where
FC=contribution

or u could say

where
Contribution-FC = 0

or

cost of unit = price of unit

or

.............lol i think this is enoug ;D :P
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Saavya

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Re: Accounting AS level doubt!
« Reply #36 on: May 24, 2011, 06:31:26 pm »
Quote from: Dasith on May 24, 2011, 06:12:19 pm
wat u mean by summer session ??
hmm but i saw some questons on batch & job costing in AS papers


i meant by may/june papers  :) its just an another name used only in my school lol i guess
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Offline Crooked

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Re: Accounting AS level doubt!
« Reply #37 on: May 24, 2011, 06:32:53 pm »
Quote from: Syeda S. Nasir on May 24, 2011, 06:31:26 pm
i meant by may/june papers  :) its just an another name used only in my school lol i guess

Nah, yuh are right. Summer session = May/jun and Winter session = Oct/Nov
« Last Edit: May 24, 2011, 06:38:21 pm by Crooked »
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #38 on: May 24, 2011, 06:34:57 pm »
Quote from: Syeda S. Nasir on May 24, 2011, 06:31:26 pm
i meant by may/june papers  :) its just an another name used only in my school lol i guess

hmm i dont knw about the seasons we dont hav summer, winter & all  here lol ;D
hmm i' didnt analise the papers soo much lol , so i dont knw , By the way better b prepared 4 anything
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #39 on: May 24, 2011, 06:40:07 pm »
gotta go now !! gud luck with u r exams tomorrow :D
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Offline Tohru Kyo Sohma

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Re: Accounting AS level doubt!
« Reply #40 on: May 24, 2011, 06:41:19 pm »
Quote from: Syeda S. Nasir on May 24, 2011, 06:07:01 pm
Dasith are there any questions in the pastpapers about batch and job costing in the summer session ??
i dont think so i came over any  :-\

mimi

you have to know the difference between continuous and specific order operations
learn also the characteristics and examples of job costing
and learn to explain the difference between job costing and batch costing

^ u should have them in your textbook, learn them

what is continous and specific order operation!
im so not prepared for tomorrow.....:(
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Offline Tohru Kyo Sohma

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Re: Accounting AS level doubt!
« Reply #41 on: May 24, 2011, 06:42:01 pm »
thanx dasith
bye
best of luck! ;D
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Offline Crooked

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Re: Accounting AS level doubt!
« Reply #42 on: May 24, 2011, 06:45:04 pm »
Oh dayum. I didn't know this thread existed. If yuh guys got some prob with the theory of any accounting term or formula. Do lemme know. I'll try my best to help yuh out. ::)

And best of luck fer it, yeah. :D I hope yuh guys are well prepared. Esp with the CFS. Cash flow statements, i mean. :D

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Offline Tohru Kyo Sohma

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Re: Accounting AS level doubt!
« Reply #43 on: May 24, 2011, 07:46:16 pm »
cash flow statement is not there in AS level.
but i do have doubts in accounting concepts....can u briefly but clearly explain to me alll the accounting concepts!
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Offline Dasith

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Re: Accounting AS level doubt!
« Reply #44 on: May 25, 2011, 01:46:57 am »
Quote from: mimiswift on May 24, 2011, 06:41:19 pm
what is continous and specific order operation!
im so not prepared for tomorrow.....:(

Continuous processing is when a firm engages in mass production of one or a few single & identical goods, so its possible to apportion  costs into 1 unit or a number of units . whiche ever way the company finds convinient.
This may involve many processes to produce the good.

specific order is when a company produces on customer orders i.e goods for each order may vary in cost & prices. so its hard to apportion costs to a single unit , instead its apportiond for each order. since each order is uniqe in cost compared with others .
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