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.Com. LL.B. (Five Years) Sem 3 Cost Accounting 2024 Aug Question Paper with Solutions

KSLU Solved Question Papers

Cost Accounting

Previous Year Question Paper with Solution

B.Com. LL.B. (Five Years) · Sem 3

2024 Aug 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 2024 Aug examination.

The questions below are the paper as Karnataka State Law University set it at the 2024 Aug examination, in the order it was set.

MarksPage

The Paper as Set

The questions in this volume are the questions asked at the 2024 Aug 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.

Read the original question paper

Q1

Unit I

(a)A factory uses job costing. The following data are obtained from its books for the year ended 31st Dec. 2022.[10]

Answer

The figures given in the question

Particulars	₹
Direct material	90,000
Selling and distribution overhead	52,500
Direct wages	75,000
Administration overhead	42,000
Factory overheads	45,000
Profit	60,900

(1) Prepare cost sheet.

(2) In 2023, the factory received an order for a number of jobs. It is estimated that direct materials required will be ₹ 12,000 and direct labour will cost ₹ 7,500. What should be the price for these jobs if factory intends to earn the same rate of profit on sales ? Assume that the factory recovers factory overheads as a percentage of direct wages and administration, selling and distribution overheads as a percentage of work cost based on cost rates prevailing in the previous year.

For full marks, cover: (1) the cost sheet for 2022 with prime cost, works cost, cost of production, cost of sales, profit and sales; the 2022 rates (factory overhead on direct wages, administration and selling overheads on works cost, profit on sales); (2) the estimate for the 2023 jobs at those rates, and the price; a check; and a conclusion.

(1) Cost sheet for the year ended 31 December 2022

Particulars	Amount (Rs)
Direct material	90,000
Add: Direct wages	75,000
Prime cost	1,65,000
Add: Factory overheads	45,000
Works cost	2,10,000
Add: Administration overhead	42,000
Cost of production	2,52,000
Add: Selling and distribution overhead	52,500
Total, cost of sales	3,04,500

Particulars	Amount (Rs)
Cost of sales	3,04,500

Particulars	Amount (Rs)
Add: Profit	60,900
Total, sales	3,65,400

Prime cost is 90,000 + 75,000 = 1,65,000. Works cost is 1,65,000 + 45,000 = 2,10,000. Cost of production is 2,10,000 + 42,000 = 2,52,000. Sales are 3,04,500 + 60,900 = 3,65,400.

Rates of 2022

Factory overheads on direct wages: 45,000 / 75,000 × 100 = 60 per cent.
Administration overhead on works cost: 42,000 / 2,10,000 × 100 = 20 per cent.
Selling and distribution overhead on works cost: 52,500 / 2,10,000 × 100 = 25 per cent.
Profit on sales: 60,900 / 3,65,400 = 1/6 of sales. Put another way, profit is 60,900 / 3,04,500 × 100 = 20 per cent of cost of sales.

(2) Estimate and price for the 2023 jobs

Particulars	Amount (Rs)
Direct material	12,000
Add: Direct labour	7,500
Prime cost	19,500

Particulars	Amount (Rs)
Add: Factory overheads, 60 per cent of direct labour	4,500
Works cost	24,000
Add: Administration overhead, 20 per cent of works cost	4,800
Add: Selling and distribution overhead, 25 per cent of works cost	6,000
Total, cost of sales	34,800

Particulars	Amount (Rs)
Cost of sales	34,800
Add: Profit, 20 per cent of cost (1/6 of price)	6,960
Total, price for the jobs	41,760

Factory overhead is 7,500 × 60/100 = 4,500. Administration overhead is 24,000 × 20/100 = 4,800, and selling overhead 24,000 × 25/100 = 6,000. Profit is 34,800 × 20/100 = 6,960, so the price is 34,800 + 6,960 = 41,760.

Check

Profit as a share of the price: 6,960 / 41,760 = 1/6, the same rate on sales as in 2022.

Conclusion. (1) In 2022 the works cost was Rs 2,10,000, the cost of sales Rs 3,04,500 and the sales Rs 3,65,400. (2) At the 2022 rates, the 2023 jobs cost Rs 34,800. To earn the same one-sixth of sales as profit, they should be priced at Rs 41,760.

The rest of the answers

The first answer is free. The rest come with the KSLU B.Com. 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

Kannada medium? These answers are in the Kannada Semester 3 pass too, with the other subjects in Kannada. The Cost Accounting solved papers are in English, because they have not been translated into Kannada. See Kannada Semester 3

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.