B.Com In Investment Management SEM III 2018 2019 Oct 2019 INV. MGT COST MGT ACC Question Paper - Mumbai University | munotes

Questions asked in this paper

• 2. Figures to the right indicate full marks allotted to the questions

1. Q3 Working notes are forming part of your answer
2. Q1 (a) Fillinthe blanks. (any eight) 8 marks
   • (2) Sale of scrap of material is deducted from cost of --------. =
   • (3) Donation paid is reduces ------ profit
   • (4) Under valuation of closing stock in costing decreases -------- profit
   • (5) Abnormal gain is valued at
   • (6) loss is treated as cost of production
   • (7) There is ----------- variance whenever the actual rupees spent are greater than the standard cost
   • (8) The contribution to sales ratio of acompany is 20% and profit is If the total sales of the company are = 7,80,000 the fixed cost is
   • (9) loss is avoidable
   • (10) When selling price decrease then break - even point
3. Q4 (b) State whether following sentences are true or false. (any seven) 7 marks
4. Q1 Process costing is a technique of costing
5. Q2 Normal loss account is debited to process account Transfer to general reserve is an item of cost accounts
6. Q5 Prime cost is indirect cost
7. Q6 Carriage inward should be added to purchases
8. Q7 The variable cost is 1- P.V. ratio
9. Q9 The main purpose of standard costing is cost control
10. Q10 Favourable cost variance is an indicator of higher efficiency Paper Subject Code: 79910 Cost and Management Accounting
11. Q2 From the books of accounts of M/s. Sharma & Co, the following details have been extracted for the year ended December 31*, 2017 Paper Subject Code: 79910 Cost and Management Accounting 15 marks
12. Q1 The Manager's time is shared between the factory and the office in the ratio of 20:80
13. Q2 Carriage outward includes Rs. 7,500 being carriage inward on plant and machinery
14. Q3 Selling price is 120% of the cost price From the details prepare cost sheet for the year ended 31-12-2017 and ascertain sales
15. Q2 Following details are furnished by NY Ltd of Expenses incurred during the year ended Opening stock of financial goods Repairs to office furniture 4,01,700 Depreciation on computer 12,12,900 12,12,900 Depreciation on plant and machinery 4,77,100 4,77,100 Closing stock of finished goods [3,000 units] ? 11,75,000 Reserve for Bad debts - 9,500 Interest on Investments - 15,600 Paper Subject Code: 79910 Cost and Management Accounting 15 marks
16. Q1 Net profit as per financial account is 32,79,050
17. Q2 Closing stock of finished goods to be valued at cost of production in cost account
18. Q3 Profit desired on sales is 20% in cost account
19. Q1 Cost sheet showing the various elements of cost both in total and per unit and also find out the profit and per unit profit for the year ended 31 st march, 2018
20. Q2 Financial profit and loss account for the year ended 31 st march, 2018
21. Q3 Statement of Reconciliation of profit and loss
22. Q3 AProduct of a manufacturing concern passes through two processes viz.AandBand then to Finished Stock. The following Figures have been taken from its books for the Raw Material introduced in Process (Units) Cost of Raw Materials introduced Normal loss in weight (% on total units introduced in each process) 5% 5% (% on total units introduced in each scrap) 10% 10% Realisable value of scrap (per 10 units) Prepare Process Accounts, Abnormal Loss and abnormal Gain account Paper Subject Code: 79910 Cost and Management Accounting 15 marks
23. Q3 Diganta Ltd. Provides you the following information for the. year ended Cost of raw Material per unit (=) Normal Loss (% of total no. of units entering into the Process) 5% A% Wastage (% of total no. of units entering into the Process) 6% 5% A% Scrap per Unit of wastages (=) Output transferred to 70% subsequent Output sold at the End of the Process Prepare Process A, B and C Account Paper Subject Code: 79910 Cost and Management Accounting 15 marks
24. Q4 (b) Sales = 1,50,000
25. Q3 Sales, when expected profit is 80,000
26. Q4 Profit when sales was = 4,00,000 Paper Subject Code: 79910 Cost and Management Accounting
    • (2) Sales when profit was R.s.3,25,000
    • (3) Profit when sales is R.s.90,00,000
    • (4) Margin of safety
27. Q5 (a) the advantages and disadvantages of process costing ? 8 marks
    • (b) Enumerate the purpose of standard costing? 07
28. Q5 Write short notes (any three) 15 marks
29. Q1 Assumptions of marginal costing
30. Q2 Break evenanalysis
31. Q3 Normal loss
32. Q4 Causes of difference between financial and costing profit
33. Q5 Features of cost sheet

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