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Tuesday, May 23, 2023

B. Com. (Bachelor of Commerce)
3rd Semester
Cost Accounting


Time allowed: 3 Hours][Max. Marks: 80

NOTE: Attempt four short answer type questions from Section A carries 5 marks each. Attempt two questions each from Section B and C respectively carries 15 mark each.

Section A

1) Difference between Bin Card and Stores Ledger.

2) What is overtime time. Discuss its accounting treatment?

3) From the following information calculate the cost for the month of October

4) Mr Munnabhai furnishes the following data relating to the manufacture of a standard product during the month of April 2011.

Raw Material Used Rs. 15,000; Direct Labour Charges Rs. 9,000; Machine Hours worked 900 Hours; Machine Hour Rate Rs. 5; Administrative overhead 20% works Cost

Selling Overheads Rs 0.50 per unit; Units produced 17,100 units; Units Sold 16,000 Units @ Rs 4 Per Unit

You are required to prepare Cost sheet from the above Showing

(a) Cost of production per unit

(b) Profit per unit sold and profit for the period

5) A company manufactures table fans, ceiling fans, and room coolers. The materials and wages cost are as under:

Total factory overheads Rs. 55,000. You are required to determine the works cost of each type of furniture after assuming that one ceiling fan is equivalent to two table fans and one room cooler is equal to five table fans for the purpose of factory overheads allocation.

6) From the following transactions, prepare Stores Ledger using the suitable method.

January 01 Opening balance-200 units @ Rs. 6 per unit 

January 05 purchases- 400 units @ Rs. 7 per unit

January 20 Issue- 200

February 05     issue- 100 units

February 06     purchases- 800 units @ Rs. 8 per unit

February 10    issue- 200 units

February 12    issue- 150 units

Section B

7) Compute the Machine Hour Rate from the following data:

The Machine occupies of the total area of the shop. The Supervisor is expected to devote 1/5th of his time for supervising the machine.

8) From the following particulars, you are required to work out the earnings of a worker under:

straight piece rate system; (b) differential piece rate system; (c) Halsey Premium Plan (50%) bonus; (d) Rowan Plan.

Differential piece rate- 80% of the piece rate when output is below normal and 120% of piece rate when output is above normal.
9) "Cost Accounting is an unnecessary luxury for the business establishment." Do you agree with the statement? Discuss.
10) "Perpetual inventory system is an integral part of material control." Discuss this statement by bringing out the salient features and advantages of this system.

Section C

11) From the following prepare

(a) Profit and Loss accounts

(b) Cost sheet taking factory overheads 25% on prime cost, office overheads at 50% on factory cost and selling overheads at 10% on cost of goods sold.

(c) Reconciliation statement.

The selling price is fixed at cost plus 25%.

12) In a factory there are two service departments S1 and S2 and three production departments P1, P2 and P3. In April 2021 the departmental expenses were:

Prepare a statement showing the distribution of two service Departments to the three production departments by:

a) Simultaneous Equation Method

b) Repeated Distribution Method

13) What do you mean by reconciliation? Why is it carried out? Explain the main reasons for the difference in the net profits shown by cost accounts and financial accounts.

14) What is meant by cost ledger accounts? Briefly explain the various cost ledger accounts. Describe their advantages.


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