BCom TY BCom Sem 5 BCom Sem 5 (2015 2016) April 2016 ATKT COST ACC 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 Select the most option and rewrite the full sentence. (any . 8 marks
- (1) The technique and process of ascertainment of cost is as None of the above =
- (2) Notional Cost is known as — Cost of designing and layout is an example of
- (4) Labour Turnover is Total cost of Labour @ Change in Labour force Closing balances of stores e All ofthe above Ke None of the above c on. 595-16. TURN OVER
- (7) Employees' welfare expenses are allocated on the basis of e Number of employees
- (8) Interest on securities increases
- (9) The most important element of cost in industry is i e None of the above
- (10)A Purchase Requisition is prepared by
- (b) State whether the following statements are True or False Depreciation an out of Pocket Cost
- (2) Variable Cost varies with time
- (3) Under ABC Analysis of material control 'A' stands for high numbe
- (4) Centre may be a person
- (5) of building is a postponable cost
- (6) Goods Received Note is prepared by Storekeeper f Cost Unit and Cost Centre have the same meaning
- (8) Under absorption of overheads decreases profit in costing books,
- (9) time arises when workers are paid on piece basis Cost of production is equal to prime cost plus works overheads
- Q.P. Code: 17871
Q2 (a) Calculate the Machine Hour Rate for machine No.10 installed in a factory. from the following particulars Other Information of Machine No. 10 Time devoted by Supervisor 1/10th Area occupied by machine 1/4th Rate of electricity = 0.10 per unit Original Cost of Machine =F 35,000 Carriage inwards on machine = 5,000 Scrap value of machine 10,000 life of Machine 10 years 8 marks
- (6) From the following information, Calculate Economic Order 7 orders to be placed in the year according to Tabular method and Formula Anntial Consumption of materials 6000 kgs Cost of placing an order = 60 Storage and Carrying cost 10% on average inventory
- Q.P.Code: 17871
Q2 (a) Amodern Ltd., has three production and two service departments. The expense for sept. 2015 are as follows : Depreciation on Plant 6,000 The other information are as follows : No. oflight points 2] 7 | 6
Q0 of workers 5 15 | Value of plant 15,000 | 5,000 6,000 6 marks
- H.P. of Machines 3 2 You are required to perpare a statement of primary distribution of overheads
- (b) The following information relates to year 2014-2015
- (1) Material turnover ratio regarding each of these materials
- (2) Express in number of days the average inventory held State which of the above two materials is slow moving material
- Q.P. Code :
Q3 Following are the particular for April 2015 relating to four employees working in department M of a factory exclusively for Job No. 120 The normal working hours per week of six days are 48 or 8 hours per Sundays are paid holidays. (There were no other holidays during the month) Provident Fund contribution was 8% of wages by employee Provident Fund contribution was 8% of wages by employer Employees State Insurance Contribution was 3% of monthly wages by employees and 5% of monthly wages by employer From the foregoing data, calculate:
- (a) Net wages payable by the employer for the month
- (b) The total amount of Providerit Fund contribution to be deposited by
- (c) Employees State Contribution to be deposited by employer
- (d) Total labour cost to te employer for the month of April, chargeable to the job and
- (e) The total cost of the job requiring materials is valued at Rs. 60,000 and overheads at 50% of prime cost following information, Calculate EOQ by Equation 8 Consumption of materials (units) 4000 units Cost of placing an order (Rs.) 250 = Cost of Materials = 20 per unit
- Q.P.Code: 17871
- (b) XYZ Ltd. has five departments; A, B and C are production departments a & E are service departments. cost for a period are as follows Depreciation of Assets 1,50,000 The following information is also available in respect of the five departm: Value of Asset 6,00,000 1,00,00
- H.P. of Machines 4 3 2 1 1 Prepare a statement showing Primary Distribution of overheads Following details are furnished by ABC Ltd. of incurred during the on Delivery Van Charges on Sales Literature Steck of Finished goods at the end of the year were 2,000 units to at cost of production of units sold during the year 19,000 on sales is 10% = = Cost Sheet showing the various elements of cost both in total 7 = and also find out total profit and per unit
- Q.P. Code:
Q4 Following is the Profit & Loss Account as per financial records of Kavit Enterprises for the year ended 31* March, 2015 For the same period Cost Accounts Records showed the following:
- (3) Factory overheads @ 20% of the Prime cost
- (4) Administrative overheads 30-per kg of output produced
- (5) Sales overheads@ 50 per kg of output sold , (6) Closing stock of Finished goods was valued at cost of production
- (7) price was 135 per kg
- (i) Cost Statement for the year ended 31st March, 2015 and
- (ii) Statement of
Q5 (A) State and explain of Cost Accounting
- (B) What are the main features of Halsey Premium Plan and Rowan Premium
Q5 Write short notes on (any Three)
- (a) imitations of Financial Accounting Causes of difference between Financial and Costing Profits
- (c) Stock Levels

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