B.B.A. LL.B. (Five Years) Sem 3 Cost and Management Accounting 2014 Jun Question Paper - KSLU

Questions asked in this paper

UNIT - I

1. Q1 (a) A single product company estimated its sales for year quarterwise as under
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2. Q1 OR Cost per unit of article A is Rs. 50 at a capacity level of 5,000 units the details are given below. For variation upto 25% in capacity above and below this level the individual expenses vary as indicated below.
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3. Q1 (b) Prepare a production budget for six months of product 'x'
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4. Q1 OR Explain briefly any five functional budgets.
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UNIT - II

1. Q2 (a) i) Define standard cost. At what level should the standards be set ? ii) Distinguish between standard cost and estimated cost. iii) Distinguish between basic standard and current standard.
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2. Q2 OR i) What is standard costing and how would you distinguish it from budgetory control. ii) Explain briefly the significance of standard costing as a technique of cost control.
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3. Q2 (b) Define and explain the concept of 'standard cost' and 'standard costing'.
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4. Q2 OR What do you understand by the following in context of operating a standard cost system i) Ideal standard ii) Normal standard iii) Attainable standard.
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UNIT - III

1. Q3 (a) The standard material cost for 100 Kgs of chemical 'D' is made up of
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2. Q3 OR Explain the term 'variance' and distinguish between controllable and uncontrollable variances.
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3. Q3 (b) Explain Labour and overhead variances.
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4. Q3 OR Explain the significance of standard cost variance.
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UNIT - IV

1. Q4 (a) What do you understand by 'inter-firm' comparison ? What are its advantages and limitations ?
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2. Q4 OR Explain the Cost Audit Rules (Report), 1996.
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3. Q4 (b) Write explanatory notes on : Cost Audit and Uniform Costing.
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4. Q4 OR "The work of the cost auditor depends upon the objectives of the concern". Explain.
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UNIT - V

1. Q5 (a) Write the objectives, advantages and limitations of Management audit.
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2. Q5 OR Distinguish between management audit and cost audit.
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3. Q5 (b) What are the limitations of social audit ?
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4. Q5 OR Write a note on : i) Management audit ii) Efficiency audit.
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Typed from the KSLU paper above. The paper is the original. Long reading passages are shortened here to their first and last lines and a summary.