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BCom TY BCom Sem 5 BCom Sem 5 (2018 2019) Oct 2019 FI. ACC. AUDITING P VI COST ACC Question Paper - Mumbai University | munotes

BCom Sem 5 (2018 2019) Question Paper, Oct.pdf
TY BCOM · 1 May 2025

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Older exam Oct 2019 - T.Y.B.COM SEM V (75 25) BUS.LAW Semester-end · BCom sem 5 (2018 2019) → Newer exam Oct 2019 - COMPUTER SYSTEM APPLICATION Semester-end · BCom sem 5 (2018 2019) →

Questions asked in this paper

  • 2. Figures to the right indicate full marks allotted to the questions
  1. Q3 Working note should form part of your answer
  2. Q1 passes through two processes viz Pool and Push and then to finished stock. Thefollowing figures have been taken from its books for the year ended 3 1st Raw Material introduced in process (units) Cost of Raw Materials introduced per unit (=) Normal Loss in Weight total units introduced in each process) (%) 5% 5% total units introduced in each process) (%) 10% 10% Realisable Value of scrap per unit (=) Output during the years (units) Prepare Pool process and Push Process Accounts 15 marks
  3. Q1 | M/S.RUB Company manufactured a chemical which passes through three processes The following particulars gathered for the month of January 2018 Output transferred to Next Output transferred to warehouse 50% 100% Overheads are charged @ 50% of Direct Wages. You are required to prepare Process SET, NET and PASS Accounts
  4. Q2 contractor undertook three contract on 1st April 2017 , 1st Oct 2017 and Ist Jan,2018 respectively. The Contractor closes his accounts on 31“ March, 2018 The details of contracts are as follows : The plants were installed on the respective date of the contract and depreciation is to be Prepare SOM , MANGAL and BUDH Contract Accounts
  5. Q2 MAN MADE Construction Pvt. Ltd. engaged on two contracts A and B. From their books of accounts, the following particulars were obtained in respect of the year 2017 On 25th September 2017, materials costing = 13500 have been transferred to Contract B from Contract A You are required to prepare Contract A and Contract B Accounts 15 marks
  6. Q3 Following is the summarised Profit and Loss Account of M/s. BEEN Manufacturing — Co. Ltd. for the year ended 31-03-2018 Profit and Loss Account Dr. For the year ended 31* March 2018. Cr To Wages 6,04,000 By Sales (48000 Units) To Material used 10,96,000 By Closing stock of To Factory Expenses 3 To Expenses on Administration 1,52,960 By Closing stock of WIP 48,000 To Selling Expenses 1,80,000 | By Dividend received 7,200 To Prelimanry Expenses} 16,000 To Net Profit 1,30,240 In the Cost Accounts: 15 marks
  7. Q1 Factory expenses have been allocated to the production @20% on Prime Cost
  8. Q2 Expenses of administrative @ = 3 per unit produced You are required to prepare cost sheet of the company and reconcile the profit disclose by cost accounts and those shown by Financial Accounts
  9. Q3 (a) Following information is available in respect of BMW Limited and INNOVA Limited. 8 marks
  10. Q1 P/V Ratio of both companies
  11. Q2 Fixed cost of both companies
  12. Q3 Break Even Point of both companies
  13. Q4 Sales to earn profit of 1,05,000 by each company The following details relating to a product is made available to you: 07 You are required to calculate Material and Labour variances
  14. Q4 (a) Select the most appropriate option and rewrite the sentences. 8 marks
    • (1) is the protion of the work completed of contract has been approved by the architect Work Completed Work in Progress
    • (2) The correct formula for calculation of Retention money is Value of work certified - cash received Value of contract - value of work certified e of work certified - value of work uncertified Paper Industry All of the above
    • (4) Process cost is based on the concept of difference between sales value and the marginal cost is called Variable Cost None of these
    • (6) Total sales of the company = 23,40,000 and profit is = 1,93,500 the contribution to sales Ratio is 20 % the fixed cost is
    • (7) is not included in prepartion of cost sheet Purchase of computer Rent of warehouse
    • (8) Profit as per financial Accounts is = , over recovery of works overhead is and under recovery of office expenses is = 20,000 Profit as per cost Account = 1,40,000 Profit as per cost Account = 1,00,000 Profit as per cost Account Loss as per cost Account = 40,000
  15. Q4 (b) State the following statements are True or False : 7 marks
    • (i) BEP is the point at which total revenue is equal to total cost Uncertified work is valued at cost
    • (iii) Standard costing is of costing
    • (iv) Abnormal loss in process is valued at scrap value
    • (v) Prime cost is indirect cost
  16. Q4 Write Short Notes on Any Three of the following 15 marks
    • (i) Direct Cost
    • (iv) Abnormal gain in process account
    • (v) P/V ratio
  17. Q3 = y an
  18. Q3 sie
  19. Q3 AT aT
    • (8) og

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