Question 5 (a) Furniture Wala Ltd., a manufacturer of dining tables, procures wood as its direct material. The dining tables are initially processed in the Moulding department and subsequently transferred to the Laminating department, where a plastic layer is applied. The Moulding department began manufacturing 35,000 initial dining tables during the month of March 2025 for the first time and their cost is as follows: Direct material: ` 1,15,500 Moulding costs: ` 59,500 Total ` 1,75,000 A total of 28,000 dining tables were completed and transferred to the Laminating department, the rest 7,000 were still in the Moulding process at the end of the month. All of the Moulding department's direct materials were placed but on average, only 25% of the conversion costs were applied to the ending work in progress inventory. Required to calculate: (i) Equivalent units of production for each cost. (ii) The Moulding cost per Equivalent units. (iii) Cost of closing work-in-process (WIP) and finished products. (4 Marks) (b) Distinguish between "job costing and batch costing". (3 Marks) (c) A reputed engineering college in Pune has 20 sections with 60 students per section. The college plans a one day pleasure trip around the city for the students during the weekend to places such as zoo, the amusement park and the technological museum. A private transport operator has agreed to provide the required number of buses at a hire charge of ` 6,500 per bus per trip. The bus hire charge is inclusive of special permit fees of ` 500 per bus per trip paid to the city municipal corporation. Each bus has a maximum seating capacity of 54 persons excluding the driver. Four seats are reserved for the teachers who accompany each bus. The college will employ four teachers for each bus and pay ` 500 as daily allowance to each teacher for the trip. No other costs in respect of teachers are relevant to the trip. The following are the other cost estimates: Particulars Cost per student (`) Breakfast 55 Lunch 120 Evening tea with snacks 40 Entrance Fee at amusement park Fee entry Entrance Fee at the zoo 25 As regards the technological museum, the authorities charge block entrance fees for group of students depending upon the number of students in the group as enumerated below: Number of students in the group Block Entrance Fees (`) Upto 300 2,000 COST AND MANAGEMENT ACCOUNTING 301-900 3,000 901 and above 3,500 Cost of prizes that would be distributed to the winners in different games being arranged in the amusement park depends upon the number of students in a trip. The cost of prizes to be distributed is: Number of students in a trip Cost of prizes (`) Upto - 300 2,200 301- 600 2,400 601 - 900 2,400 901 and above 2,500 Assuming that the college hires the requisite number of buses depending upon the number of students in a trip, you are required to: (i) Prepare a flexible budget, estimating the total cost for a trip for the levels of 300, 600, 900 and 1,200 students showing each item of cost separately. (ii) Compute the average cost per student at each of the above levels. (7 Marks)