BCom In Accounting & Finance (BCAF) SEM I 2017 2018 Nov 2018 COST ACC Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Q—2 to Q -5 with internal choice
2. Q3 Figures at right indicates full marks for question
3. Q4 Use of standard calculator is permitted
4. Q5 Working notes should form part of your answers Q- 1 A] State whether the following Statement is False (Any 08) (08)
5. Q2 Stock levels are fixed up for inventory control
6. Q3 Dearness allowance is linked with cost of living index
7. Q4 Piece rate method pays the workers by results
8. Q5 Selling and distribution overheads are same as administrative overheads
9. Q6 Linking overheads to cost unit is known as overhead absorption
10. Q7 Stores Ledger shows movement of materials showing quantity and value
11. Q8 In no case, material should go below minimum level
12. Q9 Power is allocated on the basis of H.P. of machines
13. Q10 Employee welfare expenses are allocated on the basis of labour hours
    • B] Select correct alternative and rewrite the sentence (Any 07) 7
14. Q1 Labour hour rate is followed when most of the work is done by
    • a) labour b) machines c) different groups of machines
15. Q2 Clock Card is placed at
    • a) The entrance of the office b) the entrance of the factory c) the entrance of the stores
16. Q3 Stores Department maintains a record in which a separate folio is maintained for each item
17. Q4 When allocating service department costs to production departments, the method that does not consider different cost behaviour pattern is the
18. Q5 A common absorption rate used throughout the following for all jobs and units of output irrespective of the department in which they were produced is called
19. Q6 The process by which cost items are charged direct to a cost unit is called
    • a) b) apportionment c) allotment
20. Q7 Goods received note is normally prepared in
    • Q. P. Code:-24467
21. Q9 The method of remuneration to give stability of labour cost of the employers is
22. Q10 Casual workers are employed when
    • a) Workers are absent b) accident takes place c) there machine breakdown 2 The following are the receipts and issues of coal in a factory during March 2017: — (15) March 1 Opening stock 2000 tons at Rs. 46 per ton 6 Purchased 3500 tons at Rs. 45 per ton 8 Return due to damage condition purchased on 6" March 300 tones 17 Purchased 2000 tons at RS. 48 per ton 25 Purchased 1800 tons at Rs. 47 per ton 31 Excess found in stock 430. tons due to wrong weighing during the month The maximum level fixed is 4000 tons, the minimum 750 tons and the reorder level is 1000 tons Show the Stores Ledger Account under FIFO system and weighted average method Two components ‘A’ and are used in Mahindra — Industries as follows: (08) Normal Usage 300 units per week each Minimum Usage : 150 units per week each Maximum Usage : 450 units per week each Re Period A 4 to 6 weeks Calculate for each component:
23. Q3 Maximum Level
    • B] Determine the EOQ from the following particulars: Cost of material : Rs. 60 per unit Cost of placing an order : Rs. 36 Annual carrying cost of one unit : 10% of inventory value 3a] From the following particulars, work out earnings for the week of a worker under:(08) 7
    • Q. P. Code:-24467 Number of working Hours per week : 48 Actual Output for the week: 150 pieces Differential Piece rate : 80% of piece rate when output is below standard and 120% when above
    • B] Daily wage rate guaranteed for a worker is Rs. 1.80 and he standard output fixed for a week is 100 articles, representing 100% efficiency. The guaranteed wage rate is paid without bonus, to those workers who show efficiency upto 70% of the standard. Beyond this, bonus is payable on a graded scale in the fixed ratio to the increased output as under : Further increased of 1% in the bonus is given for every 1% increase in the efficiency Calculate the total earnings of 4 workers who have worked for a week and their output was as No. 1 : 50 articles No. 2 : 90 articles No. 100 articles No.4: 120 articles week is considered to be of 6 days only (07) Q-3 A] Explain the factors affecting wages (08)
    • B] Calculate the total remuneration of three workers A, B, C from the following data: Actual production during the month: A 850 units, B : 750 units , C 950 units Piece work rate is 10 paise per unit of production 7
24. Q4 production bonus is RS. 10 for each percentage of actual production exceeding 80% of standard production 4 Krunal Ltd. has four production departments A, B, C and D and two service department X and Y The particulars of expenses of the respective departments are as follows: (15) The expenses of Service Departments are charges out on a percentage basis given below:
    • Q. P. Code:-24467 Prepare statement showing distribution of overheads using Repeated Distribution method and From the following information work out the production hour rate of recovery of overhead in department M, N and O (15) Expenses of service Department P and Q are apportioned as under The expenses of Service Department may be apportioned with the help of Repeated Distribution method and Simultaneous Equation Method Q-5 A] What is time keeping ? Explain the need of recording attendance time (08)
    • B] Explain the functions of Purchase department Write Short Notes (Any 3) 7
25. Q1 Absorption of overheads
26. Q2 ABC Analysis
27. Q3 Fixed cost and variable cost
28. Q4 Stock levels
29. Q5 Primary. distribution of overheads

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