BCom In Accounting & Finance (BCAF) Sem VI 2018 19 May 2018-19 COST ACCOUNTING IV Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A) State whether the statements are True or False (Rewrite the sentence) Any eight
2. Q1 Sales budget can be prepared only area wise
3. Q2 Purchase Budget can be determined only in quantity
4. Q3 Absorption costing and Marginal costing are same
5. Q4 Effect of price reduction always improves profit volume ratio
6. Q5 Under Marginal Costing stocks are over valued
7. Q6 Variable cost per unit remains constant at all level of activity
8. Q7 Imputed cost is also known as Notional cost
9. Q8 Margin of Safety determines profit of the Organization
10. Q9 Increase in Profit Volume ratio decreases Break Even Point
11. Q10 Cash Budget determines budgeted receipts and payments
    • B) Match the Following Any seven Budgetary Control | | Part of Material usage variance Standard Costing Fixed and variable overheads 7
12. Q2 ABC Ltd Furnishes you the following income information for the Year 2018 From the above you asked to compute the following assuming that the fixed cost remains the same in both the periods 15 marks
13. Q3 Sales, required to earn the profit of 7,50,000
14. Q4 Profit required to earn, at sales of 45,00,000
15. Q5 BEP for the whole year
16. Q2 Akash Ltd produces three Product I,J, and K From the same manufacturing facilities . The cost and other details of the three products are as follows: (15) Total Hours available for the month 400 hours The Processing hours cannot be increased beyond 400 hour per month You are required
    • a.) Compute the most profitable product mix
    • b.) Compute the overall break even sales of the company for the month based on the mix Calculated in (a) above
17. Q3 Prepare a Cash Budget of Raigad Ltd. for March, April and May. 2019 from the following
18. Q1 20% of the purchases and 10 % of sales are for cash
19. Q2 The average collection period of the company is % month Credit purchases are paid regularly after one month
20. Q4 Delay in payment of wages 4 month
21. Q5 Sales commission of 2% of Total Sales is to be paid in the month following actual sales
22. Q6 Rent of included in expenses is paid monthly and other expenses are paid after one
23. Q7 Cash balance on May 2019 may be assumed to be 65000
24. Q8 Dividend of 5,000 will be received in May 2019
25. Q3 Prepare a Flexible budget of Kothaligad Itd at 50% & 75% capacity with per unit and calculate profit , on the basis of the following data. (15) Profit 25% on Sales
26. Q4 From the following information about sales calculate: 15 marks
27. Q4 From the following, calculate Labour Variances: Types of Standard Actual Workers No. of No. of Rate per No. of No.of Rate per Budgeted and Actual outputs are same 15 marks
28. Q5 A) Distinguish between Absorption costing and Marginal costing 8 marks
    • B) Explain budgetary control along with its advantage and disadvantage 7
29. Q5 Write short notes (any three) 15 marks
    • c. Budget manual
    • e. Standard cost

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