BCom In Accounting & Finance (BCAF) SEM V 2022 2023 Dec 2023 COST ACCONTING III Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 the blanks with the most appropriate option (Any 8 ) 8 marks
2. Q1 is a running charge in transport costing
   • a. Cost of diesel b. Rent of Garage
3. Q2 The calculation of the cost per unit of service rendered by a vehicle, example : the cost per passenger kilometre is in costing
   • a. Transport b. Hotel
   • c. Hospital d. Electricity
4. Q3 In Integrated system, cash sale of goods is debited to
5. Q4 In Integrated system, Final profit as per Costing P&L A/c is credited to
   • c. Cost of Sales A/c d. Trading account
   • a. all personal accounts b. all impersonal accounts
   • c. all nominal accounts d. Machinery
6. Q6 Process cost is based on the concept of
7. Q7 Normal loss arises under
8. Q8 Equivalent units are calculated by
   • a. actual units x stage of completion b. fresh units x stage of completion
   • c. input x stage of completion d. fresh units + stage of completion
9. Q9 _No. of inspections is an
10. Q10 Activity based management is the application of
11. Q1 B the following (Any 7) 7 marks
    • b. Changes with production level
12. Q3 Abnormal loss c. Number of despatches
13. Q5 Issue of direct material e. Remain unchanged with the
14. Q2 A Pass Journal entries for the following transaction of Moon Ltd for the month of June under the Integrated system of Accounting The following information for XYZ Ltd is available for the month of July 2022 (15) 15 marks
15. Q1 Opening Work-in-progress : 1,800 units at 9,000 Degree of completion : material : 100%, Labour & Overheads : 60%
16. Q2 Input of materials : 18,200 units at 54,600 Degree of completion : Material : 100%, Labour & Overheads : 70%
17. Q4 Closing Work-in-Progress : 2,000 units Degree of Completion : Material : 100%, Labour & Overheads : 80%
18. Q5 Finished units transferred to next process : 15,600 units
19. Q6 Normal scrap : 10% of input (opening WIP + input) Scrap realized at 3 per unit Prepare : 1. Statement of Equivalent Production using FIFO method ili. Statement of valuation
20. Q3 A Following are the balances in Cost Ledger of Manufacturing Company on April 2022 Work-In-Progress Control A/c 2,400 Following are the transactions for the month ending 30" April 2022 Materials issued to Production 51,500 Factory overhead charged to production 11,500 Cost of sale 57,800 Sales return at cost 1,000 Finished product at cost 67,500 Prepare the following cost control accounts:
21. Q3 Work In Progress Ledger Control Account
22. Q6 Trial balance as on April 2022
23. Q3 B Under ABC, Sharad Ltd. Provided the following information for the month of June: What amount of overhead was applied to the product during the June using ABC? 15 marks
24. Q4 A Layman Limited runs a Bus and requests you to suggest fare per passenger/kilometre from the following information provided : The bus has 25 seats and it is planned to make 5 two-way trips for 25 days in a month Assume Profit @ 20% of total revenue 15 marks
25. Q4 B produces a product ‘Jellybean’ which passes through two processes before itis completed and transferred to finished stock. The following data relates to November, Output of process I is transferred to process II at 25% profit on the Transfer Price Output of Process II is transferred to finished stock at 20% profit on transfer price. Stocks in process are valued at prime cost. Finished stock is valued at the price at which it is received from the process I. Sales during the period are 2,80,000
    • iv) Calculate the actual realized profit Explain the advantages and limitations of Integrated Accounting System (08)
26. Q5 B the advantages of Inter-firm comparison 7 marks
27. Q5 C Write short notes on (any three) 15 marks
    • iii. Advantages & Disadvantages of Process costing
    • iv. Features of Operating Costing
    • v. Disadvantages of ABC

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