Answer
any five questions:-
1.
Analyses the relationship between cost accounting & financial accounting.
Justify the necessity of application of cost accounting in business concern. (12+8)
2.
Describe in detail the procedure of receiving & inspecting of materials. (10+10)
3.
What is labour turnover? How is it measured? What steps are taken for
controlling it? (20)
4.
Define & discuss fixed variable & semi-variable overhead. Illustrate by
giving three examples of each. (11+9)
5.
How will you deal with the following items in cost accounts? (4x5)
a) Work
manager’s salary.
b) Bad
debts.
c) Canteen
expenses.
d) Packing
charges.
e) Cleaning
materials.
6.
Calculate the normal & overtime wages payable to a workman on the basis of
the following particulars: - (20)
Days Hours
worked
Monday 9
Tuesday 8
Wednesday 10
Thursday 11
Friday 9
Saturday 5
Normal
working hours are 8 hours per day & the normal rate of wages is Rs1.25 per
hour. Overtime wage rate is as follows:-
Up
to 9 hours in a day at single rate & over 9 hours in a day at double rate
or up to 48 hours in a week at single Rate & over 48 hours at double rate,
whichever is more beneficial to the workmen?
7.
A machine was purchased on 1/1/90 for Rs5 lakes. The total cost of all
machinery inclusive of the new machine was Rs75 lakes. The additional
particulars are as follows:-
Expected life of the machine 10
years
Scrape value at the end of 10 yrs Rs5000
Repairs & maintenance of the machine during the year Rs20000
Expected number of working hours of the machine each year 4000 hours
Annual insurance premium for all the machines Rs4500
Electricity consumption for the machine per hour (75 paisa per
unit) 25 units
Floor area occupied by the machine 1000
sq.m.
Rent per month for the department Rs800
Lighting charges for twenty points for the whole department (out
of which three Are for the machine) per month Rs120. Compute the “machine hour rate” of the new
machine on the basis of the above data. (20)
8.
Compute material cost variance, material price variance & material usage
variance for an output of 200 units from the information given below: - (20)
Standard quantity 3 kg per unit of
output
Standard price Rs2 per kg
Actual quantity consumed 550 kg
Actual price Rs3 per
kg.