103 Cost and Management Accounting Question Paper 2022
[DODLDU MCOM 1st SEM Question Paper]
COMMERCE
Paper: COM – 103
(Cost and Management Accounting)
Full Marks: 80
Time: Three hours
The figures in the margin indicate full marks for the
questions.
1. (a) “A good costing
system is an invaluable aid to the management.” Discuss the major points in
support of your answer. 16
Or
(b) Define the concepts of
cost control and cost reduction. Discuss briefly the advantages and limitations
of cost reduction programme. (3+3) + (5+5) = 16
2. (a) What do you
understand by reconciliation of cost and financial accounts? Explain the
possible causes of difference between costing profit and financial profit. 4+12=16
Or
(b) A product passes
through two distinct processes A and B and thereafter it is transferred to
finished stock. From the following information, you are required to prepare
Process Accounts: 8+8=16
|
|
Process A (Rs.) |
Process B (Rs.) |
|
Materials consumed
Direct Labour Manufacturing
expenses Input in Process A
(units) Input in Process A
(value) Output (units) Normal wastages: Percentage of
output Value of normal
wastage (per 100 units) |
12,000 14,000 4,000 10,000 10,000 9,400 5% 8 |
6,000 8,000 4,000 8,300 10% 10 |
3. (a) What is financial
statement analysis? Explain various techniques of analysis of financial
statement. 4+12=16
Or
(b) Prepare a common size
income statement from the following information and comment on it: 16
|
|
31st
March, 2020 |
31st
March, 2021 |
|
Sales Sales Return Cost of Goods sold
Office and
Administrative Expenses Non-operating
Expenses Non-operating
Income Tax Rate |
1,05,000 5,000 50,000 12,000 2,000 1,000 50% |
1,40,000 15,000 60,000 14,000 5,000 2,000 50% |
4. (a) “Ratio analysis is
a tool of financial statement analysis for identifying financial strength,
weakness and growth of an enterprise in a simple and understandable form to the
interested parties.” Discuss. 16
Or
(b) The following balances
are extracted from the books of Swasti Ltd. as on 31st March, 2021:
|
Liabilities |
Amount |
Assets |
Amount |
|
Equity Share
Capital Reserves and
Surplus 10% Debentures Bank Overdraft Sundry Creditors |
15,00,000 6,00,000 5,00,000 2,00,000 12,00,000 |
Fixed Assets Stock-in-trade Sundry Debtors Investment (Short
term) Cash |
16,50,000 9,10,000 12,40,000 1,60,000 40,000 |
|
|
40,00,000 |
|
40,00,000 |
Other information:
(1) Sales = Rs. 74,40,000
(2) Gross Profit = Rs.
7,44,000.
You are required to
calculate:
(a) Debt-Equity Ratio;
(b) Current Ratio;
(c) Proprietary Ratio;
(d) Gross Profit Ratio. 16
5. (a) What do you
understand by working capital? Discuss various sources of working capital
funds. 4+12=16
Or
(b) A proforma cost sheet
of a company provides the following particulars:
|
Elements of cost |
Amount per unit (Rs.
) |
|
Raw Materials Direct Labour Overheads |
80 30 60 |
|
Total Cost Profit |
170 30 |
|
Selling Price |
200 |
The following further
particulars are available:
1) Raw materials are in
stock on average one month.
2) Materials are in
process on average, half a month.
3) Finished goods are in
stock on average one month.
(4) Credit allowed by
suppliers is one month.
(5) Credit allowed to
debtors is two months.
(6) Lag in payment of
wages is 1½ weeks.
(7) Lag in payment of
overhead expenses one month.
(8) One-fourth of the
output is sold against cash.
(9) Cash in hand and at
bank is expected to be Rs. 25,000.
You are required to
prepare a statement showing the working capital needed to finance a level of
activity of 1,04,000 units of production.
You may assume that
production is carried on evenly throughout the year, wages and overheads accrue
similarly and a time period of 4 weeks is equivalent to a month. 16
Also Read: MCOM 1st SES Question Papers (Dibrugarh University - DODL)
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