KSLU Solved Question Papers
Cost Accounting
Previous Year Question Paper with Solution
B.Com. LL.B. (Five Years) · Sem 3
2022 Oct Examination
munotes.in
Mumbai
B.Com. LL.B. (Five Years) Sem 3 Cost Accounting 2022 Oct Question Paper with Solutions
First published on munotes.in on 21 October 2026.
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The question paper reproduced here is the paper as set by Karnataka State Law University at the 2022 Oct examination.
Contents
The questions below are the paper as Karnataka State Law University set it at the 2022 Oct examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the 2022 Oct 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 80 · 20 questions answered
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.
Q1
Unit I
(a)Mr. A furnishes the following data relating to the manufacture of a standard product during the month of April 2020.[10]
Answer
The figures given in the question
| Particulars | Rs. |
|---|---|
| Raw material consumed | 15,000 |
| Direct labour | 9,000 |
| Machine hour rate | 5 |
Machine hours worked 900 hours
Administration Overheads 20% on work cost
Selling overhead Re. 0.50 per unit.
Units produced 17100
Units sold 16000 at Rs. 4 per unit
You are required to prepare a cost sheet from the above, showing :
a) The cost per unit
b) Cost per unit sold and profit for the period.
For full marks, cover: the works overhead at the machine hour rate; the administration overhead on works cost; the cost sheet for 17,100 units produced with the cost per unit; the cost of the 16,000 units sold with selling overhead; the cost per unit sold and the profit; and a conclusion.
Working notes
- Works overhead for 900 machine hours at 5 rupees = 900 × 5 = 4,500 rupees.
- Administration overhead is 20 per cent of works cost (printed "work cost"): 28,500 × 20/100 = 5,700 rupees.
- Cost per unit produced = 34,200 / 17,100 = 2 rupees.
- Closing stock = 17,100 - 16,000 = 1,100 units at 2 rupees, that is 2,200 rupees.
- Selling overhead on units sold = 16,000 × 0.50 = 8,000 rupees.
- Sales = 16,000 × 4 = 64,000 rupees.
Cost sheet for April 2020 (17,100 units produced)
| Particulars | Total (Rs) | Per unit (Rs) |
|---|---|---|
| Raw material consumed | 15,000 | 0.88 |
| Add: Direct labour | 9,000 | 0.53 |
| Particulars | Total (Rs) | Per unit (Rs) |
|---|---|---|
| Prime cost | 24,000 | 1.40 |
| Add: Works overhead, 900 hours at Rs 5 | 4,500 | 0.26 |
| Works cost | 28,500 | 1.67 |
| Add: Administration overhead, 20 per cent of works cost | 5,700 | 0.33 |
| Total, cost of production | 34,200 | 2.00 |
Per-unit figures are rounded to the paisa. Prime cost is 15,000 + 9,000 = 24,000, works cost 24,000 + 4,500 = 28,500, and cost of production 28,500 + 5,700 = 34,200.
Cost of sales and profit (16,000 units sold)
| Particulars | Total (Rs) | Per unit sold (Rs) |
|---|---|---|
| Cost of goods sold, 16,000 units at Rs 2 | 32,000 | 2.00 |
| Add: Selling overhead, Re 0.50 a unit sold | 8,000 | 0.50 |
| Total, cost of sales | 40,000 | 2.50 |
| Particulars | Total (Rs) | Per unit sold (Rs) |
|---|---|---|
| Sales, 16,000 units at Rs 4 | 64,000 | 4.00 |
| Less: Cost of sales | (40,000) | (2.50) |
| Total, profit | 24,000 | 1.50 |
The cost of goods sold is the cost of production less the closing stock: 34,200 - 2,200 = 32,000. Cost of sales is 32,000 + 8,000 = 40,000, and per unit sold 40,000 / 16,000 = 2.50 rupees. Profit is 64,000 - 40,000 = 24,000, that is 4 - 2.50 = 1.50 rupees a unit.
Conclusion. (a) The cost of production is Rs 34,200, that is Rs 2 a unit produced. (b) The cost per unit sold is Rs 2.50, and the profit for April 2020 is Rs 24,000, or Rs 1.50 a unit. The 1,100 unsold units are carried forward at Rs 2,200.
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