I have few Practical Tax problem and I want the help from my CCI frds and experts!!!
1) Determine the cost of production on manufacture of the undermentioned product
Mohit Bhownani (Student) (294 Points)
15 July 2011I have few Practical Tax problem and I want the help from my CCI frds and experts!!!
1) Determine the cost of production on manufacture of the undermentioned product
swati
(ca final student)
(157 Points)
Replied 15 July 2011
for 1st ques
cop=(direct mat-ed)+direct wages n salary+works ohd+quality cntrl cost+r n d+adm ohd-realizable value=33100
Mohit Bhownani
(Student)
(294 Points)
Replied 15 July 2011
Originally posted by : swati | ||
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for 1st ques cop=(direct mat-ed)+direct wages n salary+works ohd+quality cntrl cost+r n d+adm ohd-realizable value=33100 |
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r u sure that we have to minus the realizable value or we should ignore the realizable value ?
swati
(ca final student)
(157 Points)
Replied 15 July 2011
ques 7
cc on exempted service=20/30*2=1.33
cc allowable is .67
n the bal would be payable
swati
(ca final student)
(157 Points)
Replied 15 July 2011
ya m sure...bcoz cop is calculated ae per costi accounting standard
Mohit Bhownani
(Student)
(294 Points)
Replied 15 July 2011
Originally posted by : swati | ||
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ya m sure...bcoz cop is calculated ae per costi accounting standard |
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ok , understood!! n thanks for helping me n u r not only helping me but u r helping all the inter Icwai students
Mohit Bhownani
(Student)
(294 Points)
Replied 15 July 2011
these few questions r from the postal papers of Icwai inter, we have to submit the answer before 10 August, then only we r going to be eligible for Dec 2011 ICWAI inter exam
swati
(ca final student)
(157 Points)
Replied 15 July 2011
k...so u r doing icwai...whts the duration of the course
Mohit Bhownani
(Student)
(294 Points)
Replied 15 July 2011
The minimum duration of the course is 2 years,
there is a 3 yrs Practical training n if u r already employed in a company, then u can get the exemption from the training,
If u r eligle for exemption, then for u the minimum time is 2 yrs,
if u r not then minimum time for the course is 3 years including the training period
Mohit Bhownani
(Student)
(294 Points)
Replied 15 July 2011
Originally posted by : swati | ||
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for 1st ques cop=(direct mat-ed)+direct wages n salary+works ohd+quality cntrl cost+r n d+adm ohd-realizable value=33100 |
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I think u had done a calculation mistake = DM +WAGES+WO+QCC+RND+ADM OH-reali value is 34700
=11600+8400+6200+3200+2400+4100-1200=34700.
correct me if i m wrong
swati
(ca final student)
(157 Points)
Replied 15 July 2011
no u hv to deduct excise duty 0f 1600 from material...excise duty do nt form part of cost of material
Mohit Bhownani
(Student)
(294 Points)
Replied 15 July 2011
Originally posted by : swati | ||
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no u hv to deduct excise duty 0f 1600 from material...excise duty do nt form part of cost of material |
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yes correct!! help me with other questions if u can
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 17 July 2011
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