DU Cost Accounting Question Paper 2017 [Dibrugarh University BCom 4th Sem]

Dibrugarh University BCom 4th Sem Cost Accounting Question Paper

Dibrugarh University B.Com 4th Semester 

Cost Accounting Question Paper’ 2017

COMMERCE (Honours Core / Regular)

Paper: COM – HC – 4016 / COM – RC – 4026

(Cost Accounting)

Full Marks: 80

Time: Three hours

The figures in the margin indicate full marks for the questions.


Cost Accounting Question Paper 2017 (May)
Dibrugarh University B.Com 4th Sem CBCS Pattern
Commerce (General/Speciality)
Course: 401
Full Marks: 80
Time: 3 Hours

1. (a) Fill in the blanks:                  1x4=4

a)     Cost which can be charged to a particular unit of cost is considered as ____.

b)     Reorder quantity may be measured in ____.

c)      Under the Rowan plan ____ is a fixed percentage.

d)     The basis of apportionment for indirect wages is ____.

(b) Choose and write the correct answer:                             1x4=4

a)     In a printing industry, job costing/process costing is applied.

b)     The sum of direct material cost and direct labour cost is termed as prime cost/overhead.

c)      Tender form is issued by the purchasing department/production department.

d)     Vacation pay for factory workers should be charged to factory overhead/direct labour.

2. Write on the following (any four):                       4x4=16

a)     Statement of cost and profit.

c)      Causes of labour turnover.

d)     Allocation, apportionment and absorption of overhead.

e)     Five reasons for disagreement of profit as shown by the Cost Accounting and Financial Accounting.

3. (a) Following information are related to a product for the year ended on 31st March, 2016:

Rs.

Stock on 1st April, 2015:

Raw materials

Finished products (2000 tons)

Stock on 31st March, 2016:

Raw materials

Finished products (4000 tons)

Raw material purchased

Direct wages

Rent, rates and taxes of works

Carriage inwards

Work-in-progress on 1st April, 2015

Work-in-progress on 31st March, 2016

Cost of factory supervision

Sales of finished goods

10,000

8,000

12,120

16,000

60,000

50,000

20,000

720

2,400

8,000

4,000

1,50,000

Advertisement and selling expenses amount to 0.25 paise per ton sold. 32000 tons were produced during the year. Prepare a cost sheet showing (i) the value of raw materials used, (ii) cost of production for the year, (iii) cost of goods sold, (iv) the net profit for the year and (v) the net profit per ton of the product.                                        14

Or

(b) What do you understand by cost classification? Discuss the various bases of classification of costs and various types of costs.                                    4+6+4=14

4. (a) A worker takes 80 hours to do a job for which the time allowed is 100 hours. His daily rate is Rs. 2.50 per hour. Calculate the work cost of the job under the following methods of payment of wages and statement of works cost:14

Additional information:

1)     Material cost – Rs. 120

2)     Factory overhead 125% of wages

Or

(b) What do you mean by perpetual inventory system? How does it differ from ABC analysis? State the advantages of ABC analysis.                                               4+6+4=14

5. (a) From the following particulars, compute a comprehensive machine hour rate:                        14

a)     Cost of machine – Rs. 1,00,000; Estimated life – 15 years; Residual value – Rs. 10,000

b)     Machine running hours – 2040 hours per machine per annum including idle time of 40 hours due to repairs and maintenance and breakdown of machine.

c)      Power consumption of the machine per hour – 20 units; Rate of power per 100 units – Rs. 80.

d)     There are two operators in the shop and wages of an operator who is in charge of two machines Rs. 12,000 p.a.

e)     Rent, rates and taxes of the shop Rs. 4,800 p.a.

f)      Insurance premium for the machine Rs. 400 per quarter.

g)     General lighting per month – Rs. 600

h)     Repairs and maintenance expenses per month Rs. 400 per machine.

i)       Shop supervisor’s salary per month – Rs. 1,500.

j)       Other factory overhead allocated to the shop Rs. 6,000 p.a.

There are four identical machines in the shop. The supervisor devotes 1/5th of his time for supervising the machine.

Or

(b) Explain the following:                              7+7=14

a)     Various methods of determining overhead rate.

b)     Various bases of apportionment of overheads to departments.

6. (a) From the following information, prepare a Reconciliation Statement:                          14

Rs.

Profit as per cost accounts

Works overheads under recovered

Administrative overheads under recovered

Selling overheads over recovered

Overvaluation of opening stock in cost accounts

Overvaluation of closing stock in cost accounts

Interest earned during the year

Rent received during the year

Bad debts written-off during the year

Preliminary expenses written-off during the year

1,45,500

9,500

22,750

19,500

15,000

7,500

3,750

27,000

9,000

18,000

Or

(b) (i) How does job costing differ from process costing?

(ii) What do you mean by normal loss, abnormal loss and abnormal gain in process costing? How are they treated in Process Accounts?                                           7+7=14

(OLD COURSE)

Full Marks: 80

Pass Marks: 32

Time: 3 hours

1. (a) Choose the correct answer:                             1x4=4

a)     Fixed cost per unit decreases/increases with rise in output.

b)     For EOQ, Q stands for quality/quantity.

c)      Under the Rowan plan, bonus is a fixed/variable percentage.

d)     Bases of factory rent apportionment are floor area/direct expenses.

(b) Fill in the blanks:                                        1x4=4

a)     In an oil industry, ____ costing method is applied.

b)     The perpetual inventory system means a ____ stock-taking system.

c)      In process costing, costs are calculated at the end of the ____ process.

d)     Overheads are the ____ f indirect material, indirect labour and indirect expenses.

2. Answer the following questions (any four):                    4x4=16

a)     Distinguish between Cost Accounting and Financial Accounting.

b)     What do you mean by perpetual inventory system?

c)      Explain the causes of labour turnover.

d)     Explain different methods of calculating overheads.

e)     Distinguish between Job Costing and Process Costing.

3. (a) Following information has been obtained from the cost records of Aditya Chemical Ltd. for 2016:

Rs.

Finished goods on 1.1.2016

Raw materials on 1.1.2016

Work-in-progress on 1.1.2016

Direct Labour

Purchase of raw material

Indirect labour

Heat, light and power

Factory insurance and taxes

Repairs to plant

Factory supplies

Depreciation on factory building

Depreciation on plant

Finished goods on 31.12.2016

Raw materials on 31.12.2016

Work-in-progress on 31.12.2016

50,000

10,000

14,000

1,60,000

98,000

40,000

20,000

5,000

3,000

5,000

6,000

10,000

1,70,000

13,000

78,000

No office and administrative expenses were incurred during the year 2016. Prepare a statement of cost for the year 2016 showing (i) cost of raw material consumed, (ii) factory cost and (iii) cost of goods sold.                   11

Or

(b) What do you understand by cost classification? Discuss the various bases of classification of costs and give examples of each class of cost.                                            3+5+3=11

4. (a) The products A and B are used as follows:

A

B

Normal consumption

Maximum consumption

Minimum consumption

Reorder quantity

Reorder period

200 units Per week

300 units Per week

100 units Per week

1,000 units

4 to 5 weeks

100 units Per week

200 units Per week

50 units Per week

500 units

2 to 4 weeks

For each product, calculate the following:                             11

Or

(b) What do you understand by economic order quantity (EOQ)? Describe the methods pricing materials issues with its advantages and disadvantages.                 4+7=11

5. (a) A worker takes 12 hours to complete a work on daily wages and 8 hours on a scheme of payment by results. Worker’s day rate is Rs. 6 per hour. The cost of material of the product is Rs. 20 and the overheads are recovered at 200% of the total wages. Calculate the factory works cost of the product under (i) Rowan plan and (ii) Halsey scheme.                       11

Or

(b) Write short notes on:                              3+3+5=11

6. (a) A machine purchased for Rs. 55,000. It was installed in a shop over 1/5th of its floor area at an additional cost of Rs. 5,000. The working life of the machine as also the scrap value was estimated at 10 years and Rs. 5,000 respectively. From the following details, compute the machine hour rate:                   12

Rs.

Rent and rates of the shop p.a.

General lighting of the shop p.m.

Repairs and maintenance for the machine p.a.

Insurance premium p.a.

Supervisor’s salary p.m.

5,000

500

3,000

2,400

1,000

It is estimated that the supervisor devotes 1/4th of his time for the machine. The cost of power is Rs. 20 per 100 units and the machine consumed 10 units per hour. Normal working hour of the machine is estimated at 1200 but during the year it actually worked for 1000 hours.

Or

(b) What do you mean by overhead cost? Explain the various classifications of overhead cost and its bases of apportionment.                                4+8=12

7. (a) A product posses through three processes for completion. During December 2016, 1000 units were produced. The data relating to the process were as follows:

Particulars

A (Rs.)

B (Rs.)

C (Rs.)

Material

Labour

Direct Expenses

30,000

25,000

5,000

15,000

20,000

21,600

10,000

15,000

9,050

The indirect expenses for the period were Rs. 14,000. The scraps of process B and C were sold at Rs. 1,450 and Rs. 1,660 respectively. Prepare the Process Accounts and cost of Production Account.                                       11

Or

(b) Explain the following:                              5+6=11

a)     Difference between Cost Audit and Financial Audit.

b)     Reconciliation of Cost Account and Financial Account.

 

-000-

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