Assam University B.Com 4th Sem Question Papers
2022/TDC/CBCS/EVEN/SEM/COMHCC-401T/140
TDC (CBCS) Even Semester Exam., 2022
COMMERCE(Honours)(4th Semester)
Course No: COMHCC-401T(Cost Accounting)
Full Marks: 70
Pass Marks: 28
Time: 3 hours
The figures in the margin indicate full marks for the questions
SECTION – A
Answer any ten of the following questions: 2 x 10 = 20
1. What is meant by Cost Control?
2. Mention any two advantages of Cost Accounting.
3. Mention the different elements of cost.
4. Briefly explain the term EOQ.
5. What is Bin Card System?
6. Mention the two principal wage systems.
7. What is meant by semi-variables cost or overhead?
8. Mention two differences between Cost Allocation and Cost Apportionment.
9. What is meant by absorption of overheads?
10. How is a job cost sheet prepared?
11. What is meant by joint product and by-product in process costing?
12. How much of National Profit is to be transferred to Profit & Loss A/c in an incomplete contract work?
13. What is Costing Profit & Loss A/c?
14. What is meant by abnormal loss that is debited to Costing Profit & Loss A/c?
15. What is meant by Integrated Ledger?
SECTION – B
Answer any five of the following questions: 10 x 5 = 50
16. Mr. Sethi furnishes the following data relating to the manufacture of a standard product during the month of April 2022:
|
Raw Materials consumed Direct Labour charges Machine Hours worked Machine Hour rate Administrative Overheads Selling Overheads Units produced Units sold |
Rs. 15,000 Rs. 9,000 900 Rs. 5.00 20% on Works Cost Rs. 0.50 per unit 17,100 16,000 at Rs. 4.00 per unit |
Prepare a Cost Sheet from the above information and find out profit for the period. 10
17. Differentiate between Cost Accounting and Financial Accounting. 10
18. The following transactions occur in the purchase and issue of a material:
|
January 19: February 4: February 12: February 12: March 6: March 20: March 27: |
Purchased = 100 at Rs. 5.00 each. Purchased = 25 at Rs. 5.25 each. Purchased = 50 at Rs. 5.50 each. Issued = 80. Purchased = 50 at Rs. 5.50 each. Issued = 80. Purchased = 50 at Rs. 5.75 each. |
Prepare a Stores Ledger under LIFO method and get the closing stock on 31st March. 10
19. On the basis of the information, calculate the earnings of A and B under Straight Piece Rate System and Taylor’s Differential Piece Rate System: 5+5=10
|
Standard production Normal time rate |
= 8 units per hour. = Rs. 0.40 per hour. |
Differentials to be applied:
|
80% of piece rate below standard. 120% of piece rate at or above standard. |
In a nine-hour day, A produces 54 units and B produces 75 units.
20. Discuss the treatment of the following items in Cost Accounting (any two): 5 x 2 = 10
(a) Bad Debts.
(b) Packing Expenses.
(c) Research and Development Expenses.
21. Calculate Machine Hour Rate from the following: 10
|
(1) Cost of machine (2) Estimated scrap value (3) Average repairs and maintenance charges per month (4) Standing charges allocated to machine per month (5) Effective working life of machine (6) Running time per month (7) Power used by machine |
= Rs. 19,200 = Rs. 1,200 = Rs. 150 = Rs. 50 = 10,000 hours = 166 hours. = 5 units per hour @ 19 paise per unit. |
22. A product is obtained after passing it through three processes. The following information is collected for January 2022:
|
Process |
|||
|
I |
II |
III |
|
|
Direct Materials (Rs.) Direct Wages (Rs.) Output in units during the month Normal loss Value of scrap per unit (Rs.) |
5,200 4,000 950 5% 4 |
3,960 6,000 840 10% 8 |
5,924 8,000 750 15% 10 |
Additional Information:
1,000 units at Rs. 6 each were introduced in Process – I. There was no stock of materials or work-in-progress at the beginning or at the end of that month. The production overhead was Rs. 18,000 for that month.
Prepare Process Accounts. 10
23. The following was the expenditure on a contract for Rs. 6,00,000 commenced in May 2021:
|
Rs. |
|
|
Materials Wages Plant Business charges |
1,20,000 1,64,400 20,000 8,600 |
Cash received on account to 31st March, 2022 amounted to Rs. 2,40,000 being 80% of the work certified. The value of materials in had on 31st March, 2022 was Rs. 10,000.
Prepare the Contract A/c for the year 2021-22 showing the profit to be credited to the year’s Profit & Loss A/c. Plant is to be depreciated at 10%. 10
24. Discuss the reasons of disagreement of Net Profit according to Financial Profit & Loss A/c and Costing Profit & Loss A/c. 10
25. The financial books of a company show a net profit of Rs. 2,57,510 for the year ending 31st December. The cost accounts show a net profit of Rs. 3,44,800 for the same corresponding period. The following facts are brought to light:
|
Rs. |
|
|
Under-recovery of factory overheads in cost accounts Over-recovery of overheads in cost accounts Depreciation in financial accounts Depreciation in cost accounts Interest on investments not included in costs Loss of obsolescence charged in financial accounts Income tax debited in financial accounts Bank Interest and dividend credited to financial accounts Loss in stock not charged in cost accounts |
6,240 3,400 22,400 25,000 16,000 11,400 80,600 2,450 13,500 |
Prepare a Reconciliation Statement. 10
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