ICAI Made a Mistake | CA Inter Sept. 2024 Exams | Will ICAI give grace marks ?| Standard Costing

[@Factography.13]

This is not fair this broke my morale in the paper I got confused and puzzled

[@CostingwithNimeet]

Relax..rules will be same for all..dont worry..focus on the next paper

[@riyaagrawal913]

Same bro

[@hemanthabhi1185]

Yes same here i wasted nearly 30 mins for this problem

[@yashvidevani2678]

same here I got demotivated there 😢😢

[@creativekhushal]

I wasted whole 15 minutes on this and then got demotivated And this was the first question i attempted

[@Aasthajain1222]

As per my opinion icai will give 4-5 marks grace, my friend who is ca final said that icai have drafted the question in wrong way. But but we have ti to mail to icai Maximum students

[@Aasthajain1222]

As sir said in the video

[@CostingwithNimeet]

Lets start a mailing list then ?

[@dkgaming1795]

I have taken average rate of labour that comes to 23 (6000*25+4000*20=230000÷ 10000= 23) If we take 23 as average i got LCV = 38k(A) LPV = 30k(A) and LEV = 8k(A)

[@shoaibmohammed1635]

same here bro

[@CostingwithNimeet]

You missed out the idle time variance !

[@dkgaming1795]

@@CostingwithNimeet I have done sir

[@sujal.lalcheta]

Lcv 38000(A) LRV 30000(A) LEV. 2000(F) LITV. 10000(A)

[@dkgaming1795]

@@CostingwithNimeet i guess it was 10k(A)

[@Mounika-vl5ch]

I done material variance but didn't attempt labour variance due to that confusion🥺 Will i get grace marks??

[@CostingwithNimeet]

I am not sure..lets hope for the best ! Happy learning and keep sharing !

[@creativekhushal]

Same here

[@shreyashjain4134]

Sir i segregated std labour hours in ratio of actual labour hours since I couldn’t think of anything else , will i get marks

[@CostingwithNimeet]

Sorry the actual ratio cannot be used to determine the standard... lets hope everyone gets marks !

[@trendingop6367]

Sir another mustake happened in one place ICAI wrote OVERHEAD instead of OVERTIME

[@techhimu9740]

where ??

[@trendingop6367]

@@techhimu9740 overtime calculation problem

[@CostingwithNimeet]

Which question ?

[@trendingop6367]

@@CostingwithNimeet question of overtine

[@swayambaranwal]

me who solved complete question and didn't feel any mistake😢 kya kr ke aaya hu m

[@CostingwithNimeet]

Dont worry..they were recycling their own question and made a mistake !

[@rabbitmovies632]

Mujhe to kuch problem nhi lagi iss question me mene std hour ko skilled and unskilled ke ratio me baat dia tha solve ho gaya tha aur answer match bhi ho gaya tha

[@CostingwithNimeet]

The actual ratio cannot decide the standard. The standard cannot necessarily have the same ratio as actual. You can make a standard out of a standard and not actual.

[@rabbitmovies632]

@@CostingwithNimeet I know it, but it is better to solve the question than leave it

[@dhyeysuchak8210]

material me bhi mostly (A) hi aa rahe the

[@caclub1949]

Ek hi favourable aaya Tha mujhe to

[@CostingwithNimeet]

Yes

[@Ayush_0704]

Sir mera LHS=RHS match ho gya i.e. lcv=lev+lrv+liv to solution shi huaa kya?

[@aryanshahcaaspirant3197]

Kya aaya lcv=₹38000(A)?

[@Ayush_0704]

Haa shayad yhi tha

[@CostingwithNimeet]

The LHS and RHS can match on wrong numbers as well. The match isnt proof of being right. But it means arithmetic accuracy

[@ada4sh....]

maine toh pura he wrong krdia 40min lga pr wrong , maine output ko packet se divide he nhi kia or jitna dia tha usme he kia isliye mera sb adverse aya😭 but hope I'll get step marking on hours part coz usse output ka kuch relation nhi hai

[@CostingwithNimeet]

Please write a mail to icai. The mail is in the description. Lets hope icai hears us out

[@bullymaguire008]

Mene ye question 6 hr ko 6000:10000 ke ratio me divide kiya. 3.6 and 2.4 hr of budget

[@CostingwithNimeet]

Sorry the actual ratio cannot be used to determine the standard..

[@eshwarnag3991]

Sir i have assumed the rate as 20 for skilled and 20 also for unskilled and wrote the answer

[@CostingwithNimeet]

The final answer would remain the same though, i guess shouldnt be an issue !

[@adityagupta-caaspirants3098]

I have also done the same thing

[@imrohit7781]

Sir in reconciliation question i keep starting profit as per costing and at last profit as per financial and find out profit of cost accounts is it correct?

[@Sanjay_1212_]

First of all they didn't gave costing profit at all, then How can you start with costing profit?

[@imrohit7781]

@@Sanjay_1212_ we can put it x in starting and keep financil profit at end and solve it as taking costing profit as base

[@tarushaggarwal1235]

No . Financial had to go taken as the base cause all info was as per financial only

[@CostingwithNimeet]

Should work

[@imrohit7781]

@@CostingwithNimeet sir but everyone saying in above it should pe accounts profit not cost profit

[@sujal.lalcheta]

Lcv 38000(A) LRV 30000(A) LEV. 2000(F) LITV. 10000(A)

[@CostingwithNimeet]

Yass..thats the only way out !

[@princeagarwal3990]

Yes I also do same

[@ca_cs_cma]

SAME 😀

[@xo_itsmeaditi_xo3188]

omg mera bhi same aaya!!

[@rushikadam4827]

Sir maine actual hour ke ratio liya and standar for actual hour ko baat diya. So aise answer kiya hai fir bhi marks milega na then later on maine check kiya cross check answer sahi bata raha tha cost variance se

[@CostingwithNimeet]

The actual ratio cannot be used for standard. Lets hope it gets rewarded. Happy learning and dont worry too much

[@aniketchaurasia7652]

i have done 20-25 × hr 20-20 × hr

[@timegoesby421]

Same bhai

[@CostingwithNimeet]

Can work

[@riyaagrawal913]

Sir for standard labour... Maine jo unone ek ka hi data dia h .. Vahi skilled and semi skilled dono me assume kr k krlia ques solve

[@CostingwithNimeet]

Thats the only way out ! But technically wrong..!

[@CostingwithNimeet]

You can compare one standard with two actuals. Its like asking peon and cfo ka salary merge karke average nikal lo !

[@riyaagrawal913]

@@CostingwithNimeet ok sir.. Let's see what happens

[@riyaagrawal913]

But thanku sir.. Atleast you talked on it... I was wondering why anyone is not talking about that standard costing ques mistake

[@sejalpatil6341]

In gst paper questions 5 they write DEL instead of DEF

[@Tsuki1_26]

Yeah right

[@CostingwithNimeet]

Ohh..

[@CostingwithNimeet]

Did it affect the question in any way ?

[@KnowyourselfYT]

Sir, mene dono ke total ko lekar variances nikale hai. Is this correct?🙄

[@CostingwithNimeet]

That could be the only way. Watch the video till the end to know how..happy learning and keep sharing

[@vaishnavijaiswal1001]

Sir labour variance k liye 4 additional marks mil jayege ?

[@CostingwithNimeet]

Lets hope it happens !!!

[@shifinshifu10]

sir is it necessary to mail to icai inorder to get grace mark

[@CostingwithNimeet]

Yes. Please check the video

[@jyothathi9566]

Sir illustration 6 aisa hi hai check karo ek baar

[@CostingwithNimeet]

It has one grade of labour. Not multiple

[@jyothathi9566]

@@CostingwithNimeet what is meant by grade?

[@dhanushz__2004]

Yes I felt it was wrong

[@CostingwithNimeet]

Lets hope icai considers it

[@harshgogna9940]

Sir you are right 😢

[@CostingwithNimeet]

Dont worry..icai will be fair to everyone

[@abcd-yc7wi]

Bhai kesa gya cost ka exam

[@harshgogna9940]

@@abcd-yc7wi terrible 😔

[@abcd-yc7wi]

@@harshgogna9940 same bro ab mushkil h yrr audit itne ache se prepare nhi hua h aggergate cost hi banata

[@harshgogna9940]

@@abcd-yc7wi bhai may 24 ke comparison mai bohot tricky paper tha sep ka Totally unexpected Ab audit and fm-sm hi bacha sakta hai kisi ek mai exemption Lani hogi

[@RiteshKumar-ze4mz]

actually wighted average nikalkar karna hai... 2-3 questions diye hai aise pehle bhi.

[@puneetsuparstar]

matlab rate 22.5 hoga?

[@CostingwithNimeet]

But those questions have one grade of labour paid at the different rates..not two grades of labour.

[@RiteshKumar-ze4mz]

@@CostingwithNimeet std. rate for both grade of labours will be considered Rs.20

[@shreyashjain4134]

@@RiteshKumar-ze4mz and how will you segregate std labour hours

[@RiteshKumar-ze4mz]

@@shreyashjain4134 you simply don't need to.

[@harshitmithreja8861]

Likh dena sabh icai mail par yaad se

[@CostingwithNimeet]

Yass !!!

[@urvashichahal5251]

Konsi mail pr krna h

[@Audit-n1z]

Sir mene 20+25/2 kiya hai

[@CostingwithNimeet]

Cant do that coz the hours are different

[@moviesondemand29]

@@CostingwithNimeet i have divided total cost by total hours and used the average rate to find the variance with standard

[@n.s.3251]

I don't think this question is wrong I remeber seeing a similar question during revision

[@CostingwithNimeet]

It had one grade of labour paid at two different rates. Not two grades of labour..its different

[@n.s.3251]

@@CostingwithNimeet oh, thanks sir I didn't noticed that. Hopefully ICAI will give grace marks

[@Hardik-v3t]

23 se solve ho raha hai

[@CostingwithNimeet]

Yes..but then the issue remains the same. One grade as per standard and two grades as per actual

[@Hardik-v3t]

@@CostingwithNimeet I don't think icai has made a mistake, it was intentional. if it was a mistake the answer wouldn't have tallied. standard for labour was given, actual was for two different types of labours, it has to be generalised.

[@yashas19]

Sir so grace is for sure ?

[@CostingwithNimeet]

Leta hope for it !!!