B.Com In Investment Management SEM III 2023 2024 2024 COST & MANAGEMENT ACCOUNTING Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A. Multiple Choice Questions: (Any 8) is a process of accounting for costs 8 marks
   • 2. Which of the following person is associated with Cost Accounting?
   • 3. Depreciation on factory assets is a cost
   • 4. Bad debt is an example of overhead
   • 5. Which of the following items is not included in preparation of cost sheet?
   • 6. is included in financial books
   • (a) Interest on capital (b) Notional rent (c) Interest Profit
   • 7. In process type of production, the output of the earlier process becomes the of the
   • 8. Crushing, Refining, Finishing and Packaging are stages of production in
   • 9. The only relevant cost in marginal costing is cost i0.A cost is a pre-determined cost
2. Q1 B. State whether the following statements are True or False: (Any 7) 7 marks
   • 1. All costs are controllable
   • 3. Variable cost varies with time
   • 5. Cost sheet and Income statement is one and the same
   • 6. Transfer to general reserve is credited to financial profit and loss account VCD SYBIM SEM COST& MANAGEMENT ACCOUNTING 2% HRS 75 Marks a
   • 7. Abnormal loss is charged to costing profit and loss account
   • 8. Invisible waste has no sale value
   • 9. Marginal costing is a method of costing
   • 10. Standard hour is not used while computing labour rate variance
3. Q2 The following information is available from a manufacturing industry during the four Office on cost 30% Work cost Selling on cost Rs. 5/- Per unit Profit is 20% on Sales. You are required to prepare a cost sheet in respect of the above showing: (i) The cost per unit. (ii) The profit for the period
4. Q2 (a) Sales are Rs. 3,20,000, fixed costs are Rs. 80,000 and variable costs are Rs. 1,20,000 What is the safety margin? (8)
5. Q2 (b) Classify on the basis of Factory or Office and Administration or Selling and
   • 7. Printing & Stationery
6. Q3 Prepare process Accounts from the following information: 1,000 units at 6 per unit were introduced in Process I Product overhead to be distributed as 100% on Output Unit Value of Scrap per unit VCD SYBIM SEM III COST& MANAGEMENT ACCOUNTING 2% HRS 75 Marks 15 marks
7. Q3 From the following particulars, prepare the Cost sheet for Job No. 75 and find out the value of the job Materials issued for the Job Rs. 6,000 Provide 60% on productive wages for works oncost and 12 % % on works cost for office oncost. Profit to be realised on the selling price 15%, (15)
8. Q4 From the following information calculate: 15 marks
   • a) P/V ratio. b) Break even point (units) Margin of Safety d) Profit e) Sales to earn a profit of Rs. 6,000
9. Q4 Following data pertains to Ltd
10. Q5 (a) Define Cost Sheet. Explain the advantages of Cost Sheet. 8 marks
    • (b) What are the features of Job costing. 7
11. Q5 Short notes: (Any 3) 15 marks
    • 1. P/V ratio
    • 2. Margin of safety
    • 3. Advantages of standard costing
    • 4. Features of Process costing
    • 5. Classification of cost,

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