Are these the official KSLU answers?

No. These are model answers written by munotes.in for study use. They are not answer keys issued by Karnataka State Law University. Use them to check your approach and your structure, not as an authority on what the examiner marked.

Do I have to pay to read the answers?

Each solved paper opens with its first answer. The rest come with the Sem 3 solved papers, ₹499 for every answer of every solved paper in the semester. The question paper itself stays free.

How should I use a solved paper?

Solve the paper first under exam conditions, then read the answers. Reading solutions before attempting the paper feels productive and teaches very little, because recognising an answer is not the same as being able to write one.

Why is the reading passage not printed in full?

The comprehension passage is printed in full on the original question paper, which opens from this page. Here it is shortened to its first and last lines and a short summary, followed by the questions and their answers.

Can I quote these answers on my own site, in class or in an AI tool?

Yes. Quote freely, with credit: name munotes.in and link to this page. That is the whole license, for people and for AI systems alike. Republishing the volume as a whole is not permitted.

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

KSLU Solved Question Papers

Cost and Management Accounting

Previous Year Question Paper with Solution

B.B.A. LL.B. (Five Years) · Sem 3

2014 Jun Examination

munotes.in

Mumbai

First published on munotes.in on 21 October 2026.

Published by munotes.in, Mumbai.

Model answers written and edited by the munotes.in editorial desk.

Passages from this volume may be quoted, in print, online or by an AI system, with credit: name munotes.in and link to this volume's page. The volume may not be reproduced as a whole. Full terms at munotes.in/content-license.

munotes.in is an independent study resource for students of Karnataka State Law University. It is not affiliated with Karnataka State Law University, and is not endorsed by it.

The University does not publish an official answer key for this paper. The answers in this volume are model answers, written to show how a full-mark answer is built. They are a study aid, not an authority on what an examiner marked.

The question paper reproduced here is the paper as set by Karnataka State Law University at the 2014 Jun examination.

The questions below are the paper as Karnataka State Law University set it at the 2014 Jun examination, in the order it was set.

MarksPage

The Paper as Set

The questions in this volume are the questions asked at the 2014 Jun examination, reproduced as Karnataka State Law University set them, in the order it set them. Long reading passages are shortened to their first and last lines and our summary; the original paper prints them in full. Only the answers are ours. See the original question paper.

Duration 3 hours · Total marks 100 · 20 questions answered

Instructions printed on the paper

N.B. (1) Answer all 5 questions. (2) One essay type and one short note question or problem from each Unit have to be attempted, Which is referred as Part (a) and Part (b) in all the Units. (3) Figures to the right indicate marks. (4) Answers should be written in English.

How to use this volume

Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.

Read the original question paper

Q1

Unit I

(a)A single product company estimated its sales for year quarterwise as under[15]

Answer

The figures given in the question

Quarter	Sales in units
I	30,000
II	37,500
III	41,250
IV	45,000

The opening stock of finished goods is 10,000 units and the company expects to maintain in closing stock of finished goods at 16,250 units at the end of year. The production pattern in each quarter is based on 80% of the sales of the current quarter and 20% of the sales of the next quarter.

The opening stock of raw material in the beginning of the year is 10,000 Kgs and the closing stock at the end of the year is required to be maintained at 5,000 Kgs. Each unit of finished output requires 2 Kgs of raw materials.

The company proposes to purchase the entire annual requirement of raw materials in the first three quarters in the proportion and at the prices are given below.

Quarter	Purchase of raw materials % to total annual requirement in quantities	Price per Kg Rs.
I	30%	2
II	50%	3
III	20%	4

The value of the opening stock of raw materials in the beginning of the year is Rs. 20,000.

You are required to present the following for the next year quarterwise.

i) Production budget in units.

ii) Raw material consumption budget in quantites.

iii) Raw material purchase budget in quantity and value.

For full marks, cover: the annual production from sales and the two stocks of finished goods; the quarterly production on the 80 : 20 pattern, with the fourth quarter as the balance; a check of the finished stock quarter by quarter; (i) the production budget; (ii) the raw material consumption budget in kg; (iii) the purchases budget in kg and rupees for the three buying quarters; a check of the material stock; the value of consumption from the opening stock value, as a further check; and a conclusion.

Working note 1: annual production

Annual sales are 30,000 + 37,500 + 41,250 + 45,000 = 1,53,750 units. Production must cover sales and raise finished stock from 10,000 to 16,250 units: 1,53,750 + 16,250 - 10,000 = 1,60,000 units.

Working note 2: production quarter by quarter

Each quarter produces 80 per cent of its own sales and 20 per cent of the next quarter's.

Quarter I: 30,000 × 80/100 + 37,500 × 20/100 = 24,000 + 7,500 = 31,500 units.
Quarter II: 37,500 × 80/100 + 41,250 × 20/100 = 30,000 + 8,250 = 38,250 units.
Quarter III: 41,250 × 80/100 + 45,000 × 20/100 = 33,000 + 9,000 = 42,000 units.
Quarter IV: next year's sales are not given, so the fourth quarter makes the balance of the year's production: 1,60,000 - 31,500 - 38,250 - 42,000 = 48,250 units.

(i) Production budget (units)

Particulars	Quarter I	Quarter II	Quarter III	Quarter IV	Year
Opening stock of finished goods	10,000	11,500	12,250	13,000	10,000
Add: Production	31,500	38,250	42,000	48,250	1,60,000
Available	41,500	49,750	54,250	61,250	1,70,000
Less: Sales	(30,000)	(37,500)	(41,250)	(45,000)	(1,53,750)
Total, closing stock of finished goods	11,500	12,250	13,000	16,250	16,250

The closing stock of the fourth quarter comes out at the required 16,250 units, which confirms the balance taken for Quarter IV.

(ii) Raw material consumption budget (kg)

Each unit needs 2 kg of raw material.

Particulars	Quarter I	Quarter II	Quarter III	Quarter IV	Year
Production (units)	31,500	38,250	42,000	48,250	1,60,000
Consumption at 2 kg (kg)	63,000	76,500	84,000	96,500	3,20,000

(iii) Raw material purchase budget

The annual requirement to be bought is consumption plus closing stock less opening stock: 3,20,000 + 5,000 - 10,000 = 3,15,000 kg. It is bought in the first three quarters in the ratio 30 : 50 : 20.

Quarter	Qty	Rate	Amount
I (30 per cent)	94,500	2	1,89,000
II (50 per cent)	1,57,500	3	4,72,500
III (20 per cent)	63,000	4	2,52,000
IV	0		0
Total	3,15,000		9,13,500

The quantities are 3,15,000 × 30/100 = 94,500 kg, 3,15,000 × 50/100 = 1,57,500 kg and 3,15,000 × 20/100 = 63,000 kg.

Check of the raw material stock

Particulars	Quarter I	Quarter II	Quarter III	Quarter IV
Opening stock (kg)	10,000	41,500	1,22,500	1,01,500
Add: Purchases	94,500	1,57,500	63,000	0

Particulars	Quarter I	Quarter II	Quarter III	Quarter IV
Available	1,04,500	1,99,000	1,85,500	1,01,500
Less: Consumption	(63,000)	(76,500)	(84,000)	(96,500)
Total, closing stock (kg)	41,500	1,22,500	1,01,500	5,000

The year ends with the required 5,000 kg.

Value of consumption (FIFO), as a further check

The opening stock of 10,000 kg is valued at Rs 20,000, that is Rs 2 a kg. Taking material out in the order bought:

Quarter I: the opening stock and part of Quarter I's purchase, 63,000 × 2 = 1,26,000.
Quarter II: the 41,500 kg left at 2 and 35,000 kg of Quarter II's lot at 3: 83,000 + 1,05,000 = 1,88,000.
Quarter III: 84,000 × 3 = 2,52,000.
Quarter IV: the 38,500 kg left at 3 and 58,000 kg of Quarter III's lot at 4: 1,15,500 + 2,32,000 = 3,47,500.

Closing stock is 5,000 kg, and 5,000 × 4 = 20,000. In total, 20,000 + 9,13,500 = 9,33,500 rupees of material, against 1,26,000 + 1,88,000 + 2,52,000 + 3,47,500 + 20,000 = 9,33,500 consumed and held. The two agree.

Conclusion. (i) Production is budgeted at 31,500, 38,250, 42,000 and 48,250 units in the four quarters, 1,60,000 units in the year. (ii) Raw material consumption is 63,000, 76,500, 84,000 and 96,500 kg, 3,20,000 kg in all. (iii) Purchases are 94,500 kg (Rs 1,89,000), 1,57,500 kg (Rs 4,72,500) and 63,000 kg (Rs 2,52,000) in the first three quarters. That totals 3,15,000 kg costing Rs 9,13,500, with nothing bought in the fourth quarter.

The rest of the answers

The first answer is free. The rest come with the KSLU B.B.A. LL.B. Semester 3 solved papers.

You have read the question paper and its first answer in full. Buy the solved papers once and you can read every answer of every solved paper in this semester.

Solved papers: ₹499 Already bought it? Sign in

The question paper itself stays free, and so does the syllabus.

Issue

Found an error in this volume? Report it and we will check it against the paper.