B.Com. (Financial Management) SEM III 2019 2020 Oct 2020 COST ACCOUNTING Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A] STATE WHETHER TRUE OR FALSE. (ANY 8) 8 marks
   • 1. All cost are controllable
   • 2. Variable overheads vary with time
   • 3. In FIFO method stock is valued at the latest price paid 4, order is prepared by the purchasing department
   • 5. Idle time is the difference between the time clocked and time booked
   • 6. Overheads are first charged to the department where they are incurred
   • 7. Fixed cost changes according to the level of activity
   • 8. Cost accounting helps in controlling cost
   • 9. Re-order level means the quantity to be ordered
   • 10. Overtime means the work done by a worker beyond his normal working hours
2. Q1 MATCH THE COLUMNS. (ANY 7) 7 marks
   • 3. Direct c. Monitors and regulates cost
   • 7. Time rate system | HP of machines
   • 9. ABC Analysis i. Remains constant in total
3. Q2 From the following particulars prepare- 15 marks
   • A. Stock records by FIFO and Weighted Average
   • B. Calculate cost of goods sold under FIFO Method Two components P and Q are used as follows: Normal usage : 100 units per week each Minimum usage: 50 units per week each Maximum usage: "150 units per week each
4. Q2 (B)XYZ Ltd manufactures 4 special product ZXT and provide the following
   • 1. Demand of product ZXT is 1000 units per month. 7
   • 3. Raw material required per unit of finished product —
   • 5. Purchasing price of input unit — Rs. 25 per kg
   • (B)Total annual carrying cost and ordering cost at that quantity
5. Q3 The following are the details as regards a worker who worked for job no.12 and His normal basic rate of wages was Rs. 80 per day of 8 hours and his dearness allowance was Rs. 240 per week of 48 hours Calculate the amount payable to him 23 marks
   • 1. On time basis
   • 2. On Halsey plan basis (bonus at 50% of time saved)
   • 3. On Rowan plan basis
6. Q3 ( A) Calculate Total weekly remuneration of workers x. Y and Z on the basis of
   • 1. Standard Production for each worker — 1000 units
   • 2. Rate of Wages — 10 paisa per unit
   • 3. Rs. 5 for each 1% increase over 90% of standard output 5, Output during month of X — 850 units, Y — 900 units and 960 units
7. Q3 (B)Calculate the earnings of workers A and B under Straight Piece Rate system and Taylor’s Differential Piece Rate System from the following particulars:- (08)
   • 3. Differentials to be applied are
   • (a) 80% of the piece rate below the standard:
   • (b) 120% of the piece rate above standard A produced 1300 units per day of 8 hours and B 1500 units per day of 8 hours
8. Q4 The PQR company is divided into four departments — 4, B, C are production and D is a service department. The actual cost the period are as follows: (15) Depreciation of plant | 4500 The following information are available in respect of the four Apportion the cost of the various departments by the most equitable method
9. Q4 The following particulars relate to a manufacturing company with three production departments A, B and C and two service departments S1 and The following are details of overheads distributed to the departments as per primary distribution summary. (15) The service department cost are shared as follows Find out the overheads of production departments on the basis of:
10. Q5 (A) Define cost and explain the various classification of cost. 8 marks
    • (B) Explain the functions of purchase department. 7
11. Q5 Write a short note. (Any 3) 15 marks
    • 2. Absorption of overhead
    • 3. Labour Turnover
    • 4. Time Keeping
    • 5. Stock levels

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