7/26/2019 37535 Bos 27052

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Roll No.

Total No. of

Questions -

7

TimeAllowed-3Hours

FINAL

GROUP-I

PAPER-I

FTNANCIAL

REPORTING

tlA

y

1015

Total No. of

hinted

Pages

-

A

Maximum

Marks

-

lfi|

PLR

.

Answers to

questions

are to

be

given

only

in English

except

in

the case

of

candidaies who have

opted

for

Hindi Medium.

If

a candidate, who has not

opted for

Hindi

Medium,

answers in

Hiadi,

his&er answers in

Hindi

will

not be valued.

Quesdsn

No.

1

is compulsory.

Cedidates are also rqgi*4,to

answer

any

FfV.f

questions

from

the

leqairi4g

ffi

queslions.

Wor*ing-

q s

Souldfot@Fart of the

respective an3wers.

Wbfgver

nec6sary.

c@l&6s:

a$

pgrmiujed

io mate suitablo assumptions

which

slfulil

b.e diqglosed

by

wal

of

a

note.

ryrrks

1.

(a)

From

the

fiollowing

infornwion,

vahe

the invfitories

a6 os' 3l$ LIanch;

4x5

=m

2015

:

Ra$/.n4ttial, lias

brr

pwthasd

@

7

1251.

per kg.

hices of

raw

Taetial-sro.

dn

the dsdfinc|

Tlie

finished

goods

being manufacn[ed

with thE rdw

$dterial

is

af,xi bedag sold' at below cost. The stock

of raw

material

is

of 15000

kg and the replacement cost

of raw material is

t 100/-

per

kg.

PLR

P.T.O.

The Institute of Chartered Accountants of India

7/26/2019 37535 Bos 27052

2/24

a)

PLR

Cost

of

finished goods

per

kg

is

as under

:

t

per

kg

Matrial

cost

Dircct

labour

cost

Dfuct

variable

goduction

overhead

125

20

10

Fixed production

overhead

,for

the year

for

a

normal

capacity

of

1,00,Q00

kgs

of

prcduction

is

{

10 lacs.

At

the

year

nd,

there

were

2,000

kgs

of

finished

goods

in

stock.

Net

realisable

value

of finished

goods

is

i 1zl0 per

kg.

O)

SMC

Limited

is

having

a

plant

(at

asset)

whose

carrying

amount

as

on

l-loml2

is

?

38,000

lacs

and

the plant

was

having

a usefirl

life

till

3l-3-2O20.

The

estimated

residual

value

is

?

900lacs.

The selling

price

on

31s

March,

2015

is

expected

o

be

? 20,000

lacs

and

tbe

cost

of

'

disposal

is

expecred

to

be