Strategic Cost Management

1) The following information is available for a watch showroom. Calculate the following: a) Contribution b) PV Ratio c) BE Ratio (in no. of units and value) d) MOS at actual sales of Rs. 6,00,000/- e) Number of watches to be sold to get a profit of Rs. 20,000/-

Sale Price Per unit (Rs.) 9800

Variable Costs Per unit (Rs.) 4905

Commission (variable) Per unit (Rs.) 500

Rent Per month (Rs.) 100000

Salaries Per Month (Rs.) 120000

2) A Factory produces 3 types of shoes. While producing, for switching over from one type to another, there is a shift-over process involved. Costs incurred are as follows:

Shift-over costs Rs. 50,000

Factory Overheads Rs. 1,00,000/-

Packing costs Rs. 20,000/-

Engineering Costs Rs. 30,000/-

Supervisor Costs Rs. 10,000/-

Quantity produced A- 1000, B – 2000, C- 4000

Allocate the costs to the 3 shoes (A, B and C) using Traditional Costing method and Activity Based Costing. Some other information of the 3 products is as under:

Compare the results and discuss.

3) a) Prepare a Cash Budget with following information. b) A firm faces a decision about replacement of a machine. Following is the information available:

1. Depreciation of existing machine is Rs. 25000/- p.a.

2. A new machine is available at Rs. 45000/- that is much more efficient in production.

3. Increase in power cost due to the new machine is Rs. 5000/- p.a.

4. Rent of the factory building is Rs. 60000/- p.a.

5. Scrap Value of the old machine is Rs. 4000/-

Identify which of the above information is relevant and which is not relevant for taking the decision whether to continue with the existing machine or use new one.

Taxation - Direct and Indirect

Q1. Mr. X sold a residential house property in June 2022 for a sale consideration of ₹75,00,000. The property was purchased by him in May 2010 for ₹35,00,000. He incurred ₹1,50,000 on stamp duty, registration and legal expenses related to the sale. Compute the long-term capital gains, tax liability and the amount of investment to be made in specified bonds to claim exemption under Section 54EC of the Income Tax Act, 1961.

Q2. "How do Double Taxation Avoidance Agreements (DTAAs) work in international taxation and what are the key provisions of such agreements? Critically evaluate the effectiveness of DTAAs in eliminating double taxation and promoting cross-border investments."

Q3. A) Mr. X owns a house property in Mumbai. The details of the property are as follows:

The property is let out for residential purposes.

The annual rent received from the property is ₹3,00,000.

Municipal taxes paid during the year amounted to ₹20,000.

The interest on loan taken for the property was ₹1,80,000.

Compute the income from house property for Mr. X for the Assessment Year 2022-23.

Q3. B) Mr. A, a resident individual, gifted a residential house property to his wife, Mrs. B, who is also a resident individual. The property generates an annual rent of ₹6,00,000. Mr. A has no other income, while Mrs. B has an income from her profession of ₹5,00,000. Compute the total taxable income of Mr. A and Mrs. B for the Assessment Year 2022-23, considering the clubbing provisions of income.

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