Cost Accounting, Question Paper of B.Com 4th Semester, Download Previous Years Question Paper 3

May 2014

B.COM PROFFSSINAL

BCOP 403 COST ACCOUNTSING -1

Roll no……..

Time allowed – 03 hrs

Note: Section  A carries ten sub-questions and all are compulsory. Each question carries two marks. Attempt any four questions from section B. each question carries ten marks.

Section –A

1.     Write short note on cost centre

2.     Define a ‘Bin  Card’?

3.     Calculate Economic Batch Quantity.

Total number of units to be produced in a year: 10,000

Unit set-up cost per batch; rs.200

Carrying cost per unit of production : rs. 010 per unit

4.     Define ‘Machine Hour Rate’.

5.     Time rate rs.2 hour; standard time 10  hours; time taken 8 hours; calculate wages according to Halsey weir-scheme from above data.

6.     What do you mean by break even point?

7.     Distinguish between marginal costing and differential costing.

8.     Write short note on material Usage variance.

9.     What do you mean by life cycle costing?

10.                        Calculate the efficiency ratio:

Budgeted production     88 units      actual production 75 units

Standard hours per unit 10               actual working hours     600

Section –B

1.     What is cost accounting ? what are its advantages as compared to financial accounting?

2.     The following data relate to a particular item in stock:

Normal usage           110 units per day

Minimum usage        50 units per day

Maximum usage        140 units per day

Lead time                  25-30 days

EOQ                          5000 units

Using  the data, calculate the re-order, minimum and maximum levels

3.     From the following information given by a manufacturing company which manufactures a product, you are required to prepare process accounts.

Process 1    process 2    process 3

          Direct materials    30,000        7,500          7,500

          Direct wages         22,500        15,00          15,000

          Closing stock       7,500          8,750          21,300

          Finished goods is sold for Rs. 1,30,000 value of closing finished stock is Rs. 5,112. It is the policy of the company to charge 20% on transfer price or 25 % on cost price while transferring the goods from process I to II 20 % on cost price form II to III and from III to the finished stock.

4.     ‘Activity Based Costing has been developed because traditional product costing has certain limitations’. Discuss

5.     Comment on ‘variance analysis is an integral part of standard costing system’

6.     A company has the capacity of producing 80,000 units and presently it sells 20,000 units at rs. 110 per unit. The demand is sensitive to selling price and it has been observed that with every reduction of Rs. 10 in selling price, the  demand is doubled. What should be the target cost at full capacity if profit margin on sale is taken as 25 %?

Read More

Cost Accounting, Question Paper of B.Com 4th Semester, Download Previous Years Question Paper 2

Roll No.

Total No. of Questions: 07]

B.Com. (Sem.-4 th)

COST ACCOUNTING-I

Subject Code: BCOP-403

Paper ID: [B142]

Time: 3 Hrs.

INSTRUCTION TO CANDIDATES:

1) Section-A is Compulsory.

2) Attempt any four questions from Section-B.

SECTION–A

l. Answer briefly :

a) Prime cost

b) Selling and distribution overheads

c) Notional profits

d) Inter-process profits

e) Material Usage Variance

f) Fixed Budgets

g) Contribution

h) By-products

i) LIFO

j) Target Costing

SECTION-B

2. Explain the difference between Cost, Financial and Management accounting.

3. Prepare cost sheet from the following information regarding expenses

incurred on various items :

Rs.

Raw Material Purchased                                                                   25,000

Wages paid                                                                                       10,000

Fuel Expenses                                                                         5,000

Power charges                                                                          7,000

Salary to office staff                                                                12,000

Depreciation on machinery                                                     4,000

Rent of office building                                                             7,000

Stationery                                                                                5,000

Advertisement                                                                         6,000

Packaging                                                                                2,000

Salesman's Salary                                                                             6,000

Closing stock of raw material                                                  2,000

Opening stock of raw material                                                          7,000

4. Write note on the following methods of wage payment and incentive

plans:

i) Gantts's Task and Bonus Plan

ii) Halsey Premium plan

iii) Rowan Premium Plan

iv) Merricks Multiple Piece rate system

5. The following Information relates to a Building Contract for Rs. 15,00,000

for two years i.e., 2011 and 2012

2011 2012

Rs.                                 Rs.

Materials issued                                3,50,000                        1,20,000

Direct Wages                                     2,55,000                        1,35,000

Direct Expenses                                52,000                          20,000

Indirect Expenses                              18,000                          2,500

Work Certified                                  8,60,000                        15,00,000

Work Uncertified                              40,000                                     —

Materials at Site                                25,000                           37,000

Plant issued                                                25,000                           6,000

Cash Received from Contracted        6,00,000                        15,00,000

The value of plant at the end of 2011 was Rs. 6,500 and Rs. 3,000 at the end of year 2012. Prepare i) Contract Account ii) Contracture’s Account for 2011 and 2012 taking into consideration such profits for transfer to Profit and Loss accounts as you think proper.

6. Write note on each of the following :

i) Activity Based Costing

ii) Life cycle Costing

7. What is Budgetary Control? Explain the advantages and disadvantages of

budgetary control.

Read More

Cost Accounting, Question Paper of B.Com 4th Semester, Download Previous Years Question Paper 1

Roll No.

Total No. of Questions: 07]

B.Com. (Sem.-4 th)

COST ACCOUNTING-I

Subject Code: BCOP-403

Paper ID: [B142]

Time: 3 Hrs.

INSTRUCTION TO CANDIDATES:

1) Section-A is Compulsory.

2) Attempt any four questions from Section-B.

SECTION–A

Q1. Write short notes:

a) Cost sheet

b) Treatment of Idle time and over time cost

c) Give examples of batch level cost drivers

d) Material –mix variance

e) Batch costing vs. job costing

f) Cash budget

g) Treatment of Abnormal loss

h) Give examples of direct-fixed cost and indirect-fixed cost

i) Cost racing vs. cost allocation

j) Methods of wage payments

SECTION-B

Q2. What are the main uses of cost and management accounting information? Also

Differentiate between financial and cost accounting. Q3. Alpha Ltd. Has three production departments A, B and C and two service departments D

and E. The following figures are extracted from the records of the company:

Rent and rates                                                      Rs. 5000

General lighting                                                    600

Indirect wages                                                      1500

Power                                                                   1500

Depreciation of Machinery                                   10000

Sundries                                                               10000

The following are further details:

Total                    A       B       C       D       E

Floor Area(Sq. ft.) 100 200    250   300    200    50

Light point(Nos.) 60      10      15     20      10     5

Direct Wages(Rs.) 100   300    200   300   150    50

Horse power of    150   60     30      50      10     -                                    Machines

Value of               2500  600   800   1000  500   500

Machinery(Rs.)

Working Hours    -       626    4027 4060           -                                              -The expenses of service departments D and E are allocated using the repeated distribution

method as follows:

A       B      C      D       E

D       20% 30% 40% -       10%

E       40%  20% 30% 10%  -                

What is the total cost of articles if raw material cost is Rs. 50, labour c for cost Rs. 30 and it passes through departments A,B and C 4,5 and 3 hours respectively.

Q4. An expenditure of Rs. 19200 has been incurred on a contract up to the end of 31st March,2010. The value of work done and certified is Rs. 210 0. The cost of work done but not yet certified is Rs.1200. It is estimated that the contract will be completed by 30^th June, 2010 and an additional expenditure of Rs. 1800 will have to be incurred to complete the contract. The total estimated expenditure on the contract is to include a provision of 12.5% for contingencies. The contract price is Rs. 2800and Rs. 16800 has been realized in cash up to 31st March, 2010. Calculate the proportion of profit to be taken to profit and los account as on 31st March, 2010 under different methods.

Q5. RKG Inc. is currently working at 50% and produces 100 units. At 60% working raw material cost increases by 2% and selling price falls by 2%. At 80% raw material cost increase by 5% and selling price falls by 5%.

At 50% capacity working the products costs Rs. 180 per unit and is sold at Rs. 20 per unit. The unit cost of Rs. 180 is made up as follows:

Material                                            Rs. 100

Wages                                                         30

Factory overheads                                      30 (40% fixed)

Administration overheads                 20 (50% fixed)

Read More