Bachelor Of Management Studies (BMS) SEM III 2022 2023 Oct 2023 S COST ACCOUNTING Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B. 1. All Questions are compulsory. 2. Figures to the right indicate full marks

1. Q1 Objectives Questions 15 marks
   • (A) Multiple Choice Questions (8 out of 10) 8
   • 1. Factory Cost is cost
   • 2. Prime cost is also termed as
   • 3. FIFO its stand for
   • (a) First in First (b) Fixed in Fixed out
   • (c) First in Final none of the above
   • 4. stands for
   • (c) Equilibrium order quantity (d) None of the above
   • 6. Employee welfare expenses are allocated on the basis of
   • (a) Number of employees (b) Labour hours (c) Machine hours (d) Prime cost
   • 7. Dividend paid is which type cost
   • (c) Direct cost (d) not included in cost sheet
   • 8. cost is the value of the alternative foregone by adopting a particular strategy or employing resources in specific manner
   • 9. Secondary Packing material is a part of
   • 10. Bonus hours as per Halsey plan = of time saved
   • (a) 1/2 (b) 1/3 (c) 1/4 (d) none of the above State whether the following are true or False: (7 out of 10) (7)
   • 1. Labour turnover can be reduced
   • 2. JIT its stand for Just in Time
   • 3. The output of process | becomes the input of process 2
   • 4. Example of Fixed cost is Rent
   • 5. of Semi-Variable Cost is Electricity
   • 6. Under FIFO method, stock purchased first is deemed to be issued first
   • 7. In Absorption :osting both fixed and variable cost are allocated to cost units
   • 8. Debenture interest is excluded from cost sheet
   • 9. Rent received is only credited in financial accounts
   • 10. Uniform costing helps in cost control (FIN) /SEM-III /SUB- COST Hr/75Marks
2. Q2 (A) The Ganesh Company is having Three production departments A, B and C and One service departments D. The expenses incurred during the month of March. 2014 as follows: (15) Depreciation to plant 2,250 The following information are available in respect of the four departments No. of employees 15
   • H.P. of Machines 500 | 200 Value of Plant (Rs.) 2,40,000 1,80,000 1,20,000 60,000 Value of stock (Rs.) 1,50,000 90,000 No. of Light Points 30 20 10 Prepare a statement showing Primary Distribution of Overheads
3. Q2 (B) A Product passes through three Processes. The follow ing cost data have been extracted from the book Input to Process A = 20,000 unit at Rs. 28 per unit Prepare Process A, Process B, and Process C Accounts
4. Q3 (A) From the following particular, find out the Economic Order quantity: 8 marks
5. Q3 (B) Calculate earning of a worker under Halsey premium plan and Rowan Premium plan from the Hourly rate of wages perhour SYBMS/ (FIN) /SEM-III /SUB- COST ACCOUNTING/2% Hr/75Marks
6. Q3 Calculate by FIFO method of Inventory valuation and value of closing inventory from the following
   • (A) From the following figures prepare a reconciliation statement and profit per cost Net Profit as per financial record Works overhead under-recovered in costing Interest received but not included in costing Obsolescence loss charged in financial records Stores adjustment (credit in financial books) 700 Loss due to depreciation of stock charged in financial
   • (B) From the following information, prepare detailed cost sheet for the year ended 3!3.2017 Purchases of Raw Materials 15,00,000 Machinery Lost in fire 1,00,000 — Plant and Machinery 80,000 (FIN) /SUB- COST ACCOUNTING/2% Hr/75Marks Interest on Loan
   • (a) 60% of Telephone Expenses relate to office and 40% to sales Department
   • (b) Salaries to be allocated to the Factory, Office and sales Department in the ratio of 1:2
   • (c) Establishment Expenses are to be apportioned equally between Office and Sell & Distribution Dept
   • (d) Sales are made to earn Profit @ 20% on selling price
7. Q5 (A) Explain Cost Accounting and its Disadvantages? 8 marks
   • (B) Explain Balanced scorecard in detail 7
8. Q5 Write short notes on: (3 out of 5) 15 marks
   • (a) Explain Target Costing
   • (b) Explain Advantages of Cost Accounting
   • (e) Scope of Cost Accounting

Read from the scan above, so a character or two may differ. The scan is the original.