BCom In Accounting & Finance (BCAF) SEM V 2023 2024 Dec 2024 COST ACCOUNTING III Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 All workings should form part of the answer Multiple Choice Questions. (any 8) (08)
   • i. Petrol consumption is 24 kms per litre of petrol costing Rs. 60 per litre. A taxi runs 3,960 kms per month. The cost of petrol is
   • ii. In Operating Costing, Garage Rent is ui. Normal output is equal to
   • iv. Wages control A/c is debited by
   • b) Store Ledger Control A/c d) Direct and Indirect wages
   • v. In Non-Integrated system of accounting, Material issued to production is credited to
   • vi. Cost driver for inspection activity is
   • vii. An activity which generates cost is a
   • viii. In Integrated system of accounting, Sales is debited to
   • b) WIP Control A/c d)Debtor or Cash A/c
   • ix. In Integrated system of accounting, purchase of Material on credit, will be debited
   • b) WIP Control A/c d)Debtor or Cash A/c
   • x. Input is 40,000 units, normal loss is 20%. Output is 34,000 units. Abnormal gain is
   • a) 3,000 units, c) 2,500 units
   • b) 2,000 units, d) 4,000 units
2. Q1 b) Match the Following (Any 7) 7 marks
3. Q1 Machine set-ups cost a) Technique of Evaluation
4. Q4 Abnormal Gains d) Debit Work in Progress control A/c
5. Q7 Issue of direct Materials for Production g) Actual Output Less Normal Output
6. Q9 Payment of Wages i) Number of Orders
7. Q10 Inter-firm comparison j) Number of Machine set-up Gujarat Transporters maintains a fleet of 20 buses and provides the information for the year 15 buses with carrying capacity of 45 passengers each. 05 buses with carrying capacity of 30 Following is the information available : (15) Each bus makes 4 trips a day, covering a distance of 30 kilometres in each trip. 80% of the seats are occupied in each trip on an average basis and 3 buses are sent to repairs every day Assuming that the company operates its fleet daily (all 365 days), ascertain the operating cost per
8. Q2 b) The following information is available in respect of Process Z for the month of Feb, 2023 Normal Process Loss 5% of the total input You are required to :
   • a. Prepare Statement of Equivalent Production as per FIFO method
   • b. Statement of Cost per equivalent unit
9. Q3 a) Pass Journal entries for the following transaction of Sharayu Ltd for the month of January 2023 under Integrated system of Accounting. (15)
10. Q3 b) The budgeted overheads and cost drivers volume of ABC are as follows. Material Procurement 7,80,000 | No. of Orders 1,500 Material Handing 3,51,000 | No. of Movement 975 Set-up 6,60,000 | No. of Set Up 825 Quality control 3,51,000 | No. Inspections 1,800 Machinery 10,80,000 | No. of Machine Hours 18000 The Company has produced a batch 3,900 components of X, its material cost was Rs. Rs. 5,25,000 and labour cost was Rs. 7,50,000. The usage activities of the said batch are as follows: Ascertain the cost driver rates and also compute the cost of batch of Components using ABC 15 marks
11. Q4 a) The following balances existed in Columbus Ltd. Cost Ledger: as on 1* april 2023 Work in Progress Control Account 1,00,000 During the next three months, the following items arose Finished product (at Cost) Cost of sale Materials issued to Production 1,02,000 Sales return at cost Materials return to Suppliers 2,400 You are required to prepare
12. Q3 Work In Progress Control A/c
13. Q6 Trial Balance as on 30" June 2023
14. Q4 b) Aisha Limited has provided you the following details : Profit % on transfer price to next process Inter-process profit (included in Opening Stock) 3,600 7,200 Stock in process is valued at prime cost and finished stock has been valued at the price at which it is received from Process II. Sales during the period is Rs. 14,40,000 15 marks
15. Q5 a) Explain the Non-integrated Costing system. 8 marks
    • b) Explain in brief the advantages of Uniform Costing 7
16. Q5 c) Write short notes on (Any 3) 15 marks
17. Q1 Cost Drivers
18. Q2 Normal wastage and Abnormal wastage
19. Q3 Features of Integrated system
20. Q5 Service Costing

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