DU Cost Accounting Question Paper 2022 [Dibrugarh University BCom 4th Sem]

DU Cost Accounting Question Paper 2022 [Dibrugarh University BCom 4th Sem]

Dibrugarh University B.Com 4th Semester 

Cost Accounting Question Paper’ 2022

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.



1. (a) Indicate which of the following statements are True or False:     1x4=4

(1) Cost Accounting is the oldest branch of accounting.

(2) Purchase order is prepared by the purchasing department.

(3) Fixed overhead cost is a committed cost.

(4) Process Costing is ordinarily applied where all the operations are performed in one department.

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

(1) Out of pocket costs involve payment to _______.

(2) Labour once lost cannot be _______.

(3) Any expenditure over and above prime cost is known as _______.

(4) The need of reconciliation arises in _______ accounting system.

2. Write short notes on any four of the following:              4x4=16

(a) Cost Sheet.

(b) ABC analysis.

(c) Apportionment of overhead expenses.

(d) Job costing.

(e) Memorandum Reconciliation A/c.

3. (a) Define Cost Accounting. How does cost accounting help in the planning and control of operations of a business enterprise?                         4+10=14

Or

(b) Explain fully the concept of ‘cost’. Distinguish between Direct Cost and Indirect Cost. Also describe the principal aims of classifying the costs.                  2+6+6=14

4. (a) Prepare Stores Ledger A/c using FIFO and LIFO method for issue pricing:    7+7=14

2022

 

Units

Price per unit

February

1

5

11

22

24

28

28

 

Opening Balance

Purchases

Issues

Purchases

Issues

Issues

Shortages

 

300

200

150

200

150

200

5

 

20

22

?

23

?

?

?

Or

(b) Production section of a factory working on the job order system pays their workers under the Rowan Premium Bonus Scheme. Workers also get a dearness allowance of Rs. 120 per week of 48 hours. A worker’s basic wage is Rs. 20 per day of 8 hours and his time sheet for a week is summarised below:

Job No.

Time Allowed  (in hours)

Time Taken (in hours)

101

102

Idle time (waiting)

25

30

20

20

8

 

 

48

Calculate the gross wages he has earned for the week and indicate the accounts to which the wages amounts will be debited. 14


5. (a) Define Cost Allocation and Cost Apportionment. Explain the various bases of apportionment of overheads to departments with illustrations as to the items of expenses. 2+2+6=10

Or

(b) Compute the Machine Hour Rate from the following data:    10

 

Rs.

(1) Cost of the machine

(2) Installation charges

(3) Estimated scrap value (after the expiry of its life of 15 years)

(4) Rent and rates for the shop per month

(5) General lighting for the shop per month

(6) Insurance premium for the machine per annum

(7) Repairs and maintenance expenses per annum

(8) Per consumption: 10 units per hour and rate of power per 100 units

(9) Estimated working hour per annum is 2,200 hours which includes setting up time of 200 hours

(10) Shop supervisor’s salary per month

(11) The machine occupies 1/4th of the total area of shop

(12) The supervisor is expected to devote 1/5th of his time in supervising the machine

1,00,000

10,000

5,000

200

300

960

1,000

20

 

600

6. (a) What do you mean by Unit Costing? In which industries unit costing is applied? Explain its purposes.     2+3+4=9

Or

(b) The product of a manufacturing concern passes through two processes – A and B and then to finished stock. It is ascertained that in each process normally 5% of the total weight is lost and 10% is scrap which from process A and B realizes Rs. 80 per ton and Rs. 200 per ton respectively.  Following are the figures relating to both the processes:

 

Process – A

Process – B

Materials

Cost of materials per ton

Wages

Manufacturing expenses

Outputs

1,000 tons

Rs. 125

Rs. 28,000

Rs. 8,000

830 tons

70 tons

Rs. 200

Rs. 10,000

Rs. 5,250

780 tons

Prepare Process Cost Accounts showing cost per ton of each process. There was no stock or work-in-progress in any process.               9

7. (a) What are the purposes of Reconciliation of Cost and Financial Accounts? Why is it necessary to reconcile the profits shown by Cost and Financial Accounts? 4+5=9

Or

(b) The following is the Trading and Profit & Loss A/c of Madan Industries Ltd. for the year ended 31st March, 2022:

Particulars

Rs.

Particulars

Rs.

To Materials

‘’ Wages

‘’ Works Expenses

‘’ Administrative Expenses

‘’ Net Profit

45,000

33,000

24,000

6,000

8,400

By Sales (4,800 units)

‘’ Closing Stock (1,200 units)

96,000

20,400

 

1,16,400

 

1,16,400

The Company’s Cost Accounts show as under:

(1) Works overheads have been absorbed at Rs. 3 per unit produced.

(2) Administrative overheads have been absorbed at Rs. 1.50 per unit produced.

You are required to prepare:

(a) a statement of cost indicating net profit.

(b) a reconciliation statement.                   4+5=9

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Cost Accounting Question Paper (Hons) 2022 (June/July)
Dibrugarh University B.Com 4th Sem CBCS Pattern
COMMERCE (Non-Honours)
Paper: CC – 403 (Cost Accounting)
Full Marks: 80
Pass Marks: 32
Time: 3 hours
The figures in the margin indicate full marks for the questions


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

(i) Cost Accounting is useful for

(1) ascertaining the financial position of a firm.

(2) ascertaining the profit or loss of a firm.

(3) controlling cost.

(ii) What level is fixed in order to avoid overstocking?

(1) Average level.

(2) Maximum level.

(3) Reorder level.

(iii) Process costing is not used in

(1) central industry.

(2) chemical industry.

(3) oil refinery.

(iv) Which of the following items is not a pure financial item?

(1) Dividend received.

(2) Fines and penalties.

(3) Interest on own capital invested in business.

(b) Write True or False:              1x4=4

(1) Abnormal cost is controllable.

(2) High labour turnover rate denotes good human relations.

(3) Depreciation is a semi-variable expenses.

(4) Process costing is applied in garment industry.

2. Write short notes on (any four):            4x4=16

(a) Characteristics of an ideal costing system.

(b) Minimum stock level.

(c) Allocation of overhead.

(d) Batch costing.

(e) Memorandum Reconciliation A/c.

3. (a) Discuss in detail the advantages and limitations of Cost Accounting.               6+6=12

Or

(b) Prepare a Cost Sheet from the following:             12

 

Rs.

Stock of raw materials on 1-4-2021

Stock of raw materials on 31-3-2022

Work-in-progress on 1-4-2021

Work-in-progress on 31-3-2022

Finished goods on 1-4-2021

Finished goods on 31-3-2022

Materials purchased

Direct labour

Manufacturing overheads

Selling expenses

General and office expenses

Sales

40,000

32,000

55,000

72,000

64,000

1,51,000

1,52,000

1,45,000

1,08,000

50,000

40,000

8,00,000

4. (a) XYZ Ltd. manufactures a product A and provides you the following particulars:

Cost of placing an order

Annual carrying cost per unit

Normal usage

Minimum usage

Maximum usage

Reorder period

Compute the following from the above data:                 2+2+2+2+3=11

(1) Reorder quantity.

(2) Reorder level.

(3) Minimum level.

(4) Maximum level.

(5) Average stock level.

Or

(b) 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 works cost of the job under the following methods of payment of wages and statement of works cost: 3+4+4=11

(1) Time rate.

(2) Halsey plan.

(3) Rowan plan.

Additional information:

(a) Material cost Rs. 120.

(b) Factory overheads 125% of wages.


5. (a) What do you mean by overhead cost? Explain the various classifications of overhead cost and its bases of apportionment.                4+7=11

Or

(b) Compute the Machine Hour Rate from the following data:                11

 

Rs.

Cost of machine

Installation charges

Scrap value after 10 years

Rent of the shop per month

General lighting for the shop per month

Insurance for the machine per annum

Repairs per annum

Power consumption 10 units per hour and cost of power per unit

Shop supervisor’s salary per month

Estimated working hours per annum

10,00,000

1,00,000

50,000

10,000

2,000

9,000

10,000

4

15,000

2,500 hours

The machine occupies 1/4th of total area of the shop. Supervisor devotes 1/3rd of his time for the machine.

6. (a) Explain the special features of Job Costing and Contract Costing.                   6+5=11

Or

(b) A product of XYZ Ltd. passes through two processes A and B. 10,000 units at a cost of Rs. 1.10 were issued to Process-A. Other direct expenses were as follows:

Particulars

Process-A

Process-B

Sundry materials

Direct labour

Direct expenses

Output

Rs. 2,000

Rs. 4,500

Rs. 1,500

9,000 units

Rs. 2,000

Rs. 8,000

Rs. 1,500

9,120 units

Wastage of Process-A was 5% and in Process-B was 4%. Wastage of Process-A was sold at Rs. 0.25 per unit and that of Process-B at Rs. 0.50 per unit. Overhead charges were 160% of direct labour. Prepare Process-A A/c and Process-B A/c. 11

PREVIOUS YEAR QUESTION PAPERS


COST ACCOUNTING QUESTION PAPER 2013

COST ACCOUNTING QUESTION PAPER 2014

COST ACCOUNTING QUESTION PAPER 2015

COST ACCOUNTING QUESTION PAPER 2016

➥ COST ACCOUNTING QUESTION PAPER 2017

COST ACCOUNTING QUESTION PAPER 2018

COST ACCOUNTING QUESTION PAPER 2019

COST ACCOUNTING QUESTION PAPER 2022

COST ACCOUNTING QUESTION PAPER 2023


7. (a) What is Reconciliation Statement? How is it prepared? Give its specimen.                 3+4+4=11

Or

(b) During the year ended 31st March, 2022, a company’s profit as per financial accounts was Rs. 16,624. Prepare a Reconciliation Statement and arrive at the profit as per Cost Accounts using the additional information given below:    11

Profit & Loss A/c for the

Year ended 31st March, 2022

 

Rs.

 

Rs.

Opening Stock

Purchases

Direct Wages

Factory Overheads

Administrative Overhead

Selling Expenses

Net Profit

2,47,179

82,154

23,133

20,826

9,845

22,176

16,624

Sales

Closing Stock

Sundry Income

3,46,500

75,121

316

 

4,21,937

 

4,21,937

The closing records show –

(1) Closing Stock Rs. 78,197.

(2) Direct Wages Rs. 24,867.

(3) Factory Overheads absorbed Rs. 19,714.

(4) Administrative Expenses calculated at 3% of Sales.

(5) Selling Expenses absorbed @ 5% of Sales.

***


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