i have attempted all 7 questions given in IDT nov 2012 without leaving anyone. last question attempted was better then 5 th question.. how will they value,, whether its the first 6 or best 6
3 Replies
Rita Bansal
(Senior Audit I/c)
(98 Points)
Replied 28 November 2012
Generally First 6 as per the Norms but However if the Examiner is Good & Kind enough & if your Marks Position makes a Big Difference to the extent of this Paper of Say exemption or No exemption by Virtue of Considering the Marks of an additional Optional question, then its his Perogative of which question he considers & brings up on the Face of the Paper for calculating the Total Marks awarede to you. But what i can tell is generally by & large examiners are good & they look into this type of issues where there can be More marks due to you which they can give you to help you out.
VIRENDRA JAIN
(Officer(Project A/c & Finance))
(21 Points)
Replied 14 December 2012
An individual person has one JCB,Machine(Earth Moving Machine) which is used for excavation of Minning Material ,for the purpose to make it on hiring.
1. It has cost of Rs.23 Lacs and has expected life of 20000 Hrs.and used 2500 Hrs. per year.
2. Finance amount is 70% of total cost. having interest @ 9 % p.a. and insurance cost is 1.25% of Depreciated value.Road tax has been paid in One Time Tax Scheme Rs.120000.
3. It has repair & maintenance cost @ 60% p.a of depreciation value and petty spares & parts @ 2% of depreciation value.
4. It has following operating expenses -:
(a) Fuel Cost 8 Ltr. per Hr. @ Rs.49.22 per Ltr.
(b) Lubrication Cost is 10 % of fuel cost.
(c) Wages paid to operator is Rs. 8000 per Month i.e Rs. 96000 p.a.
5. He want to earn profit @ 10% of the cost.
6. Depreciation is calculated on SLM Basis.
Please calculate rate of hiring per hour.
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