Answer any five questions:-
1. Explain the scope of cost
accounting? Discuss in detail about its functions? (8+12)
2. What do you mean by perpetual
Inventory system? Explain its utility? (8+12)
3. Explain the Rowan Premium plan
& the Halsey Premium plan. Ascertain the differences between these two
plans? (10+10)
4. What do you mean by ‘Selling
overhead’? Give four examples. How are selling overheads allocated to the
products? (5+2+13)
5. Write short notes on: - (5x4)
a.
Cost centre.
b.
Elements of cost.
c.
Idle time.
d.
Taylor
6. Calculate the wages & bonus
of a worker from the following details under: - (10+10)
a)
Rowan Premium Bonus system.
b)
Halsey-weir Premium Bonus (50% of time saved)
The job commenced at 8:00 a.m. on
the 1st Jan. The job was completed at 10:00 am on the 6th
Jan. Quantity of work given Was 680 units. The work actually done was 600
units. Time allowed was 10 units per hour. Wages allowed for the work were Rs0.50
per hour. Assume that a worker has worked 9 hours per day.
7. An industrial enterprise
manufactured 100 units of its products. Necessary data are given below: - (20)
Standard
quantity 2 kg
per unit
Standard
price Rs5
per kg
Actual
quantity 3
kg per unit
Actual
price Rs4
per kg
On the basis of the above data,
ascertain material cost variance, material price variance & material usage
variance.
8. Calculate the machine hour rate
from the following information: - (20)
Cost
of the machine Rs3000
Scrap
value of the machine Rs100
Working
life of machine 35000
hours
Working
hours per 4 weeks 320
hours
Repairing
expenses per 4 weeks Rs10
Power
– 7 units per hour @ 10 paise per unit.
Fixed
expenses per 4 weeks Rs70