These are the formats for AS Level Accounting 9706. A great tool for preparation to make your doubts clear. You all are requested to go through the example candidate response booklets which have been uploaded on our website. You can download it from here
Go through the ECR and know how the candidates have answered the questions and how the examiners have responded to it.
Adjusted Cash Book
| $ | $ | ||||
| Bal B/D | x | Direct debit | x | ||
| Credit transfer | x | Standing Order | x | ||
| Error corrected | x | Dishonored cheques | x | ||
| Interest received | x | bank charges
Error corrected |
x
x |
||
| Interest expense
Bal c/d |
x | ||||
| xx | x x | ||||
Bank Reconciliation Statement
Balance as per cash book (adjusted) xx
Add- un-presented cheques xx
XX
Less- (Uncleared/Uncredited cheques/ bank lodgments) (XX)
Balance as per bank statement XX
STOCK VALUATION
Forward
$
Stock at 1st January 2022 xx
Add: Purchases xx
Less: Purchase returns (xx)
Less: Sales (at cost price) (xx)
Add: Sales return (at cost price) xx
Add: Goods sent on sales or return ( at cost price) xx
Less: goods received on sales or return basis (at cost price) (xx)
Less: Stock valued in an error of selling price (xx)
Less: Stock valued at net receivable value (xx)
Stock at 31st December 2022 xx
STOCK VALUATION
Backward
Stock at 1st Jan 2022 xx
Less: Purchases (xx)
Add: Purchase return xx
Add: Sales (at cost price) xx
Less: Sales returns (at cost price) (xx)
Add: Goods sent on sales or return basis xx
Less: Goods received on sale or return basis (xx)
Less: Stock valued an error of selling price (xx)
Less: stock at net receivable value (xx)
Stock at 31st December 2022 xx
MARGINAL COSTING
| $ | $ | |
| Sales (S.P/unit x selling units) | xyz | |
| Less: Variable Cost | ||
| Direct Material (Direct material /unit x production units | xyz | |
| Direct Labour (DL x production units) | xyz | |
| Variable Overhead (variable overhead x production units | xyz | |
| xyz | ||
| Add: Opening Stock (Opening stock units x production variable cost units) | xyz | |
| Less: Closing Stock (closing stock units x prodcution variable cost/units) | (xyz) | |
| xyz | ||
| Add: Selling and distribution (variable) (S&D variable units x selling price) | xyz | (xyz) |
| Contribution | xyz | |
| Less: Fixed Cost | ||
| Fixed Over head (actual) | xyz | |
| Selling and distribution (fixed) | xyz | |
| Administration (fixed) | xyz | (xyz) |
| Profit as per marginal costing | xyz |
ABSORPTION COSTING
| $ | $ | |
| Sales (Selling price x selling units) | xyz | |
| Less: Production Cost | ||
| Direct Material (Direct material /unit x production units) | xyz | |
| Direct Labour (DL x production units) | xyz | |
| Variable Overhead (variable overhead x production units | xyz | |
| Fixed Overhead (absorption rate x production units) | xyz | |
| xyz | ||
| Add: Opening Stock (Opening stock units x production variable cost units) | xyz | |
| Less: Closing Stock (closing stock units x production variable cost/units) | (xyz) | |
| xyz | ||
| Add: under absorbed/ Less: over absorbed | xyz/(xyz) | (xyz) |
| Gross Profit | xyz | |
| Less: Non-Production Cost | ||
| Selling and distribution (variable) (S&D variable units x selling price) | xyz | |
| Selling and distribution (fixed) | xyz | |
| Administration (fixed) | xyz | (xyz) |
| Profit as per absorption costing | xyz |
To Find Fixed Overhead Absorption Rate
FOH Absorption rate: Budgeted fixed overhead/Budgeted level of activity
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