BCom In Accounting & Finance (BCAF) Sem VI 2019 20 Oct 2019-20 COST ACCOUNTING IV Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 a Choose the correct alternative and rewrite the complete statement (any 8) 8 marks
   • 1. In the long run, all costs are
   • a) Fixed. c) Variable
   • 2. As the units manufactured decreases, variable cost per unit 2
   • b) Decreases. d) Reduces to half
   • 3. At BEP, both profit and loss is
   • a) Positive. c) Negative
   • 4. Contribution is
   • 5. The profit volume ratio will be reduced by
   • a. Increasing the selling price per unit
   • b. Increasing the sales and Fixed cost with equal amount
   • c. Reducing the variable cost
   • 6. uses only one type of material then following Variance cannot be found
   • 7. is the principle tools of planning and control offered to management by accounting
   • 8. costing technique is based on the assumption that all costs can be divided into variable costs and fixed costs clearly
   • a. Standard c) Marginal
   • b. Uniform d) Contract
   • 9. factor is defined as the factor in the activities of an organization which, at a particular point of time or over a period, will limit the volume of output
   • a. Sales c) Key
   • b. Purchase d) BEP
   • 10. decision arises when a firm is selling multiple products
   • a. Make or buy c) Plant shut down
2. Q1 B) Match the Following Any seven Implementation of budgetary and standard quantity of sales 7 marks
3. Q2 Company annually manufactures and sells 30,000 units of a product the selling price of which is 60 and profit earned is 20 per unit. (15) The analysis of cost of 30,000 units is You are required to compute
   • 1) P/V Ratio
   • 2) Break even Sales in and unit
   • 3) Sales required to profit of 6,00,000
   • 4) Profit when sales is 20,000 units
   • 5) Margin of safety when actual sales is 9,00,000
4. Q2 From the Following information: 15 marks
   • (a) State which of the alternative sales mixes you would recommend to management and why Fixed overhead are 1,00,000 and variable overheads are 100% of direct wages
   • 1) 5000 units of Product A and 5000 units of product B
   • 2) 6000 units of product B only
   • 3) 5000 units of product A and 3000 units of product B
5. Q3 From the following data of X Itd calculate all the Material Variances 15 marks
6. Q3 From the following information calculate: 15 marks
7. Q4 Prepare a Cash Budget of Kedarkantha Ltd. for April , May and June 2019 from the following 10% of the purchases and 20% of the sales are for cash The average collection period of the company is 30% in the month of sales, 40% in the month following sales and balance two month after sales Credit purchases are paid regularly after one month Delay in payment of wages month
   • 5. Sales commission of 1% of Total Sales is to be paid in the month following actual sales
   • 6. Delay in payment of overheads 44 month
   • 7. Cash balance on 30" June, 2019 may be assumed to be
   • 8. Machinery worth 167300 will be purchased in May 2019 in cash,
8. Q4 Prepare the Flexible Budget at 50%, 70% and 85% capacity level with per unit and also calculate ,total cost and profit from the following information of OSM. Ltd for the month of March
9. Q5 a) Distinguish between Budgetary Control & Standard Costing. 8 marks
   • b) Explain Cost-Volume Profit relationship? 7
10. Q5 Write short notes (any three) 15 marks
    • (a) Cash Budget
    • (b) Absorption costing
    • (c) Labour Variances
    • (d) Flexible Budget

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