BCom TY BCom Sem 5 BCom Sem 5 (2016 2017) 2017 COST ACCOUNTING Question Paper - Mumbai University | munotes

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Questions asked in this paper

(2) Figures to the right indicate full marks allotted to the question

Q1 (a) Select the most appropriate option and rewrite the full sentence. (Any 8) is not a function of cost accounting, 8 marks
Q2 Imputed cost is
Q3 Direct material is _— Directly identifiable with the Directly identifiable with the stores department associated with purchase
Q4 placed with supplier when the inventory touches of Time. saved differentiate between efficient & inefficient of ‘the above
Q7 Cost of Fancy packing is included in All the above
Q8 Overheads can be classified according to All of the above Cost of production
Q10 Notional rent is‘recorded e None of the
- (b) State following:statements are True or False. (Any 7) 07
Q1 charging overheads to. product 2, Over-absorption of-overheads decreases costing profit
Q3 Prime cost is inditect-cost
Q4 Sale of Scrap.is added to cost
Q5 Profit of considered in cost accounts plan motivates the ‘efficient workers FIFO Method, stack is valued at oldest prices of material Purchase order is-an to stores department to issue material time wages ‘are guaranteed Secondary Packaging is a distribution cost
Q2 From the following information, find out value of stock by preparing stores ledger as per FIFO and Weighted Average (Perpetual) Method The weekly physical stock taking on April 7, 2016 showed a shortage of 100. units 2 (A) ACompany is having two production departments namely X and twoservice departments 08 S1 & $2. The expenses incurred during the month of are as follows The is also available for the above departments of Assets Thousands) 100 40 30 10 Statement showing Primary Distribution of Overheads 15 marks
- (B) Calculate earnings of a worker under Halsey Premium Plan and Rowan Premium Plan from. 97 Dearness allowance Rs. 50 per day of 8 hours' work
Q3 Mr. Vasudeo, an employee of XYZ Ltd, gets the following emoluments & benefits: Dearness allowance 50% of Basic Employees Contribution to Provident Fund 10% of Basic Employees Contribution to 4% of Basic Bonus 20% of Basic Mr. Vasudeo works for per annum, out of which 200 hours are normal idle time Employer's contribution to State Insurance and P.F. are at equal rate with contribution. Mr. 25 effective hours on a Job No.5 where the cost of direct material is Rs. 60,000 and overheads of combined cost of material & labour. The sale value of job quoted 20% on sales You are required’to find hourly cost ‘of Mr, Vasudeo and expected sales value of Job No.5 3 A) Calculate Machine hour rate from. the following data. 08 No. of Machines 4 Original cost of four machines Rs. 1,53,600 Maintenance cost = Average Rs. 16 per day of 8 hours for for 4 machines Rs. 1280 per month Building depreciation.for 4 machines - Rs. 160 per month “Manufacturing - Rs. 480 per month for 4 machines working ‘days‘in a year 300 days running =~ 1 Shift of 8 hours 15 marks
- B) Calculate the earnings of a worker under Time rate, Rowan system & Halsey system, from the following information A wages for a guaranteed 48 hours week is Rs. 75 per hr. The estimated time to produce one article is 30 minutes and under an incentive plan, the time allowed is
Q4 Following details are furnished by Omkar Ltd. of expenses incurred during the year ended 1)-Stock of the end of the year 2,000 units to be valued at cost of
Q2 No. of units*produced during the year 20,000 Sheet showing various elements of cost both in total and per unit and total profit and per unit profit 4, Following is the Profit & Loss Account as per financial records of Shraddha Enterprises for 15 the year ended March 2016 To Selling expenses The Cost Accounts revealed the
- (1) Factory overheads 20% on prime cost
- (2) at produced
- (3) Selling and distribution overheads Prepare: i) Cost Statement year ended 31st March, 2016 and
- ii) Statement of Reconciliation
Q5 A) Causes of Under Absorption of Overheads. 8 marks
- B) Cost Classification ‘by ‘Behaviour. 07
Q5 notes on (Any Three). 15 marks
- c) Abnormal labour
- d) Allocation of 5
- e) Causes of difference between Financial and Costing profit

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