BCom TY BCom Sem 5 BCom Sem 5 (2015 2016) 2016 Cost Acc Question Paper - Mumbai University | munotes

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Questions asked in this paper

Q1 (a) Select the mo cessary should form part of answer ight) option and O
- (1) The sentence. (any Works “irect costs is termed as
- (2) Order should Placed with the supplier when Inventory system is At the end of the year of the above
- (4) Labour Turnover is —— Dissatisfaction All of the 3 Paid by - Time wasted by workers Not All of the above
- (6) is not excluded while preparing 4 cost sheet odwill written Provision for taxation Interest on capital + Property tax on office building ) Total of Indirect materials, indirect labour and indirect sting are more than actual
- (8) When overheads of overheads Under absorption None of the above
- (10) Over valuation of closing stock in cost
- (b) State whether the following statements are True or False, seven)
- (1). In ABC analysis ‘A’ class items are costliest
- (2) Economic Order Quantity can be but. not expenses written off only in Financial an example of selling and
- (6) Over absorption
- (7) Fixed C Costing of level of
- (8) Strikes and 1s abnormal idle time 18 an item of Fact
- (10) sale of asset is sh ory Overheads Wn in financial Accounts f IS @ Service dena. >N, are as follows: The are production 8 actual cost for a period ity of employees’ insurance RS The following information i is also available in the five No. of workers 250 | 100 100 50 Value of plant 1,80,000 60,000 No. of light points 0 35 30 25 Value of stock 1,00,000 50,000 | 20,000 Prepare a showing Primary Distribution of Worker The expected time to produce wages for 45 hours od further by 20% under incentive one 15 minutes which is rats under Halsey i hour of that wo er sc will be the sharing) and Rowan Bonvs jate the machine hour rate for 8
Q2 (a) From the following informatio? Purchase price of the machine 3 Insurance premium for the machin 60,000 Foreman’s Salary (Per annum) 18,00 ON repairs for the machine (Per Power -2 units per hour 00 per d the valve at Estimated life of the machine is 10 years The machine is expected to Tun The fe an devotes 1/6th machine occupies 1/4th of the total area his time for the machine. A
- (b) From the following information, earnings the Halsey Premium Plan time saved) and Time taken to complete 72 hours Time allowed to complete jok> 90 hours Per hour rate of wages Ww Dearness Allowance 10 day of 8 hours’ work
Q3 Following are the Sales in the month of Dec. 2014. Prepare Stores Ledger on of (i) FIFO ‘and (ii) Weighted Average out of purchases on Dec. Sth QP Code : 13857 pec. 8th. 100 units were retumed to th Jj OR points. C 15 marks
- (a) Mr. Jeet, an employee of the and benefits : pany gets the following emoluments 8 s contribution to provident fund | 10% of basic mployer’s contribution to E. S. 1. | 4% of basic He works for 3,000 hours per annum, out of which are : where the cost of direct material is 50,000 and 60% of combined cost of material and labour. The sale of job is quoted to earn profit 25% on cost You are required to find out Effective cost of Mr. Jeet and the Expected sales value of job- ‘B’
- (b) A Company is having three production namely, A, B and 7 C and two service departments The expenses incurred during the month of March 2015 Repairs and tenance No. of workers 8 000 | 1,000
Q4 Following particulars have been extracted Co 2015 from the books of M/s Ashwin Purchase of Raw Materials D 3,18,000 Interest on Capital 30,000 Rent and Lighti /10th for Factory) 1,05,000 Rent of use 5.960 epi Fo Oth for Office) andg er’s Salary (For Factory Sale of Scrap 9,000 Closing stock of ] stock of QP Code : units remained 1,50,000 and Work-in-Progress Prepare Cost sheet and Produced out of which 7,000 per unit profit Ow the total and per unit cost and total profit and
Q0 Ltd. for the ye Loss Account of M/s Star For the year ended To Materials used es (12,000 units) To Factory Expenses By of To Expenses on 3 (400 16,000 To Goodwill: written off 2,000 RE To Preliminary Expenses To Net profit 32,56 In the cost accounts \e 4 (1) Factory been allocated to the production at 20% on 15 marks
- (2) Expenses at 3 per unit produced
- (3) at & 4 per unit sold You are to prepare Cost sheet of the company and reconcile the profits 5 by Cost accounts and those shown by Financial accounts
Q5 (a) and system f 1s
- (b) Explain the
Q5 Write short notes on S
- (a) Economic Order Time of Labout

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