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    Cost Accounting Practice Paper

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    mybike31
    Important and sample questions for cost accounting.

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    Cost Accounting Practice Paper

    Uploaded by

    mybike31
    5 views4 pages
    Important and sample questions for cost accounting.

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    Cost Accounting Practice paper

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    Important and sample questions for cost accounting.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    5 views4 pages

    Cost Accounting Practice Paper

    Uploaded by

    mybike31
    Important and sample questions for cost accounting.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

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    Exam. Code 108505
    Subject Code 8085
    B.Com 5th Sem. (Old Syllabus 2017)
    BCG-504 COST ACCOUNTING
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    Time Allowed-} Hours] [Maximum Marks-50


    SECTION-A
    Note :~ Attempt any ten questions out of the following twelve
    questions. Each question carries 1 mark.

    1. Explain:
    (i) Limitations of cost accounting

    (ii) Direct labor VS indirect labour cost

    (iii) FIFO VS LIFO

    (iv) Fixed overheads

    (v) Allocation VS Apportionment of expenses

    (vi) Cost drivers

    (vii) Factory cost

    (viii) Job costing VS Contract costing·


    (ix) Uncertified work

    (x) Sales budget

    (xi) Standard cost

    (xii) Reasons for material price variance.

    386(2 I 18)/D AG- I 0322(Re) 1 (Contd.)

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    SECTION-B
    Note :- Attempt any two questions out of the following four
    given questions. Each question carries 10 marks.

    2. Definematerialcontrol.Discussthetechniquesforexercising
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    material control.
    3. What is idle time? Discussits causes,types and treatment.
    4. The factory overhead cost of four production departments
    of a company engaged in executing job orders for an
    accounting year are as follows :
    A Rs. 19,300
    B Rs.4,200
    C Rs.4,000
    DRs. 2,000
    Overhead has been applied as under:
    Departments
    A Rs. 1.50 per machine hour for 14,000 hours
    B Rs. 1.30 per direct labor hour for 3,000 hours
    C 80% of direct labor hour cost of Rs. 6,000
    D Rs. 2 per piece for 950 pieces
    Find out the amount of department wise under-or-over-
    absorbed factory overheads.
    5. From the following prepare a reconciliation statement.

    386(21 18)/D AG-1 0322(Re) 2 (eontd.)

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    Rs.

    .Profit as per cost accounts 1,45,500


    Works overheads under recovered 9,500
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    Administrative overheads under recovered 22,750


    Selling overheads over recovered 19,500
    Over valuation of opening stock in cost books 15,000
    Over valuation of closing stock in cost books 7,500
    Interest earned during the year 3,750
    Rent received during the year ·27,000
    Bad debts written off during the year 9,000
    Preliminary expenses written off during the year 18,000
    SECTION-C
    Note :- Attempt any two questions out of the following four
    given questions. Each question carries 10 marks.

    6. Discussthe varioustoolsandtechniquesof marginalcosting.


    7. Define budgetary control. Discuss its objectives and
    essentials.Also highlightits advantagesand disadvantages.
    8. 10,000 units have been issued to Process A at a cost of
    Rs. 20,000. The other expenses are as follows:
    Materials Rs. 15,000; Direct wages Rs. 25,000 Factory
    overheads Rs. 10,000
    From the past experience it is known that 2% of the
    input is wastage and realizes Re. 1 per unit. The actual

    386(2118)/DAG-l 0322(Re) 3 (Contd)

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    output of the process is 9,900 units. Prepare process
    account, normal wastage account, and abnormal
    effectiveness account showing the calculating of value of
    abnormal effectiveness.
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    9. Calculate Labor Cost Variance, Labor Rate Variance, .


    Labor Efficiency Variance, Labor Mix Variance and Labor
    Yield Variance from the following information:
    Standard wages:
    Grade X : 90 laborers @ Rs. 2 per hour
    Grade Y : 60 laborers @ Rs. 3 per hour
    Actual wages :
    Grade X : 80 laborers @ Rs. 2.5 per hour
    Grade Y : 70 laborers @ Rs. 2 per hour
    Budgeted hours: 1000 ; Actual hours: 900
    Budgeted gross production: 5000 units
    Standard loss : 20%
    Actual loss: 900 units.

    386(2118)/DAG-I0322(Re) 4 500

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