BCom In Accounting & Finance (BCAF) SEM I 2019 2020 Nov 2020 COST ACCOUNT Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Q-2 to Q-5
2. Q3 Figures at right indicates full marks for question
3. Q4 Use of standard calculator is permitted 51 Working notes should form part of your answers Q- 1 A] State whether the following Statement is True False (Any 08) (08)
4. Q1 Cost Accounting provides data for managerial decision- making
5. Q2 Cost Accounting get its basic data for from the financial accounting system
6. Q3 Cost accounting can be used only in manufacturing concerns
7. Q4 Cost accounting is not needed by a non- profit Organization such as a hospital
8. Q5 Purchase requisition Note is prepared by the purchasing department
9. Q6 Bill of Materials is a cash memo sent by the supplier along with the materials maximum stock level is fixed, the stock in hand should never exceed this level
10. Q8 Overtime wages are to be paid at double the normal wage rate
11. Q9 Out- workers are those who are appointed ona temporary basis
12. Q10 Rent is not included in cost when premises are owned by the company
    • B] Select correct alternative and rewrite the sentence (Any 07) 4, methods of wage payment is most suitable where quality and accuracy of work is of 7
13. Q2 Cost of idle time arising due to non- availability of raw material is
    • a) charged to Costing Profit and Loss A/c b) Charged to factory overheads
    • c) recovered by inflating the wage rate d) None of the above
14. Q3 Wages sheet is prepared by
15. Q4 In most of the industries, the most important element of cost is
    • a) Material b) Labour c) None of the above
16. Q5 Continous stock taking is a part of
    • c) ABC analysis d) None of the above
17. Q6 Bin card is maintained by the
    • c) Stores d) None of the above 5.Direct Selling and Distribution cost d) Any of the above
18. Q6 Prime costs plus variable overhead is known as
    • c) Total cost d) Cost of Sales
19. Q7 When premises are owneu, a charge in lieu of rent is
    • a) an opportunity cost b) an imputed cost
    • c) a sunk cost d) an avoidable cost
20. Q8 Costs which are not relevant for decision- making and are not affected by increase or decrease in
21. Q9 When amount deposited in a bank is withdrawn for financing a project, the loss of interest on bank deposit will be referred to as
22. Q10 Costs that can be easily traced to a specific department are called Q The following are the purchases and issues of material in a factory during July 2018(15) July 1 Opening stock 5000 tons at Rs. 24 per ton 6 Purchased 8750 tons at Rs. 25 per ton 8 Condemned due to deterioration in quantity 17 Purchased 5000 tons at RS. 28 per ton Purchased 4500 tons at Rs. 27 per ton 31 Excess found in stock 430 tons due to wrong weighing during the month Show the Stores Ledger Account under FIFO system and weighted average method Q-2A. Two components ‘Mittha’ and ‘Khatta’ are used in Pingo Industries as follows: (08) Normal Usage : 450 units per week each Minimum Usage : 225 units per week each Maximum Usage : 672 units per week each Re — order Period A 4 to 6 weeks Calculate for each
23. Q2 Minimum Level
24. Q3 Maximum Level
    • B] Determine the EOQ from the following particulars: Cost of material : Rs. 120 per unit Cost of placing an order : Rs. 50 carrying cost of one unit : 10% of inventory value Cost of material Rs. 20 per unit Cost of placing an order Rs. 100 Annual carrying cost of one unit 20% of inventory value 7
    • a] From the following particulars, work out earnings for the week of a worker under: Number of working Hours per week : 48 Differential Piece rate : 80% of piece rate when output is below standard and 120% 8
    • B] Daily wage rate guaranteed for a worker is Rs. 80 and he standard output fixed for a week 200 articles, representing 100% efficiency. The guaranteed wage rate is paid without those workers who show efficiency upto 70% of the standard. Beyond this, bonus is payable on a graded scale in the fixed ratio to the increased output as under : Further increased of 1% in the bonus is given for every 1% increase in the efficiency Calculate the total earnings of 4 workers who have worked for a week and their output was as Q-3 A] Explain the Causes of Labour Turnover (08) j B] Calculate the total remuneration of three workers Sunil, Bhavesh, Chintan from the
25. Q2 Actual production during the month : A 4850 units, B : 4750 units , C 4950 units
26. Q3 Piece work rate is Rs. 20 per unit of production
27. Q4 Additional production bonus is Rs. 5 for each percentage of actual production exceeding 80% of standard production 4 Vasanthi Ltd. has four production departments A, Cand D and two service department X and
    • Y. The particulars of expenses of the respective departments are as follows: The expenses of Service Departments are charges out ona percentage basis given below: Prepare statement showing distribution of overheads using Repeated Distribution method and Trial and Error Method 4 From the following information work out the production hour rate of recovery of overhead in department X, Y and Z (15) Expenses of service Department P and Q are apportioned as under The expenses of Service Department may be apportioned with the help of Repeated Distribution method and Simultaneous Equation Method Q-5 Explain the classification of cost on basis of behavior with suitable diagram (08) 15
    • B] Explain the basis of overheads apportionment. Write Short Notes (Any 3) 7
28. Q2 Direct cost and Indirect cost
29. Q4 Incentive plans
30. Q5 Functions of store department

Read from the scan above, so a character or two may differ. The scan is the original.