Tuesday, May 10, 2016
Total No. of Questions : 071
Paper ID [C02071]
BBA (Sem. – 2nd)
FINAICIAL ACCOUNTTNG (BB - 201)
Time : 03 Hours
Instruction t0 Candidates:
1) Section - A is Compulsory.
2) Attempt any Four questions from Section - B.
Section - A
a) Briefly discuss the scope of cost accounting.
b) Distinguish between direct and indirect labour.
c) What is economic order quantity?
d) Define fixed overheads
e) Explain budgetary control.
0 What is cash budget?
g) Explain the meaning of rnaterial price variance
h) Give the formula for calculating P/V ratio.
t Explain absorption of overheads.
j) What do you mean by cash flow statement?
Section - B
Q2) What is cost accounting? Explain briefly the objects and advantages of cost
Q3) Define overhead costs. Distinguish between fixed ,semi fixed and variable
overhead cost giving an example of each.
Q4) The following data relate to the manufacturer of a standard product during th
month of March 1997.
Raw material consumed Rs. 80,000
Direct wages Rs. 48,000
Machine hours worked Rs. 8,000
Machine hour rate Rs. 4
Office overheads 10% of works cost
Selling overheads Rs. 1.50 per unit sold
Unit produced 4,000
Units sold 3,600 @ Rt. 50 each
You are required to prepare a cost sheet in respect of the above showing:
a) cost per unit b) profit for the period
What do you mean by fund flow statement? Distinguish between cash flow
and fund flow statement.
Q6) The net profits shown by the financial accounts of a company amounted to
Rs. 28,550 whilst the profits disclosed by the company's cost accounts for
that period were Rs. 38,660. On reconciliation the following differences were
The following items were not included in cost accounts:
Director's fee (Dr.) Rs. 650
Bank interest (Cr) Rs. 30
Income tax (Dr) Rs. 8,300
A provision for Bad and doubtful debts made in financial books did no
occur in cost accounts Rs. 570
Overheads absorbed in cost accounts were Rs. 8,500 while the actual a
shown in financial accounts were Rs. 8,320
The expenditure on a work started during the year on a new factory was Rs
Depreciation @ 5% was provided in the financial books.
Prepare a statement reconciling the figures of profit as shown by the two set
Q7) Data relating to a job are thus:
Standard rate of wages per hour Rs. 10
Standard hours 300
Actual rate of wages per hour Rs. 12
Actual hours 200
You are required to calculate:
a) Labour cost variance
b) Labour rate variance
c) Labour efficiency variance
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