Cost Accounting Important Questions
Dibrugarh University BCOM 2nd SEM Minor
Question Paper Pattern
|
Question No. |
Section / Type |
Marks per Question |
Total Marks |
Options / Choice |
|
1 (a) |
Fill in the blanks |
1*4 |
4 |
Compulsory |
|
1 (b) |
True or False |
1*4 |
4 |
Compulsory |
|
2 |
Short Notes |
4*3 |
12 |
Any 3 out of 5 |
|
3 |
Unit 1: Introduction / Cost Sheet |
10 |
10 |
1 Theory OR 1 Practical |
|
4 |
Unit 2: Labour / Material Control |
10 |
10 |
1 Theory OR 1 Practical |
|
5 |
Unit 3: Overhead Accounting |
10 |
10 |
1 Theory OR 1 Practical |
|
6 |
Unit 4: Costing Methods |
10 |
10 |
1 Theory OR 1 Practical |
|
Total |
60 Marks |
|||
Q. What is Cost
accounting? Discuss briefly the nature (2010) and objectives (2011) of Cost
accounting.
Q. What are the advantages and limitations of cost accounting? 2019
Q. “Cost
accounting is an essential tool to the Management” –Comment. 2011, 2012, 2025
Q. Distinguish
and also mention the relationship between
Ø Cost
accounting and Financial accounting 2013SN,
2016SN, 2018SN
Ø Cost
accounting and Management Accounting
Q. “Cost
accounting is better understood as a cost control and cost reduction exercise
and not mere a cost ascertainment process”. Considering this statement explain
the scope of cost accounting. 2010
Q. What are the
steps involved in installing a costing system. Mention the problems faced by a
manufacturing unit in installing such a system. What are the essentials of an
effective costing system? 2012,
2014
Q. Explain
the role and functions of cost accountant.
Q. What do you understand by cost
classification? Discuss the various bases of classification of costs and
various types of costs. 2015,
2016SN, 2017, 2024
Q. Explain the
purposes of classification of costs. Distinguish between direct cost and
indirect cost. 2022
Q. Write Short notes on:
Ø Cost
sheet or Statement of Cost 2017SN
Ø 4
Methods of Cost accounting
Ø 4
Techniques of Cost accounting 2019SN
Ø Cost centre and Cost Unit
Or
Unit
1: Part B (Practical) – Cost Sheet
Unit – 2: Material Control – Purchase and Issue (Part A)
Q. What do
you mean by Inventory Control (2017SN)? What are its objectives (Need)? Explain
the essentials of Material Control. 2014,
2015SN
Q. What are various techniques
of Inventory Control? Explain them in detail. 2015SN,
2018, 2024
Q. Explain various methods of pricing of material issue together
with their respective merits and demerits. 2013, 2015SN
Q. What do you mean by Perpetual Inventory system (2013SN)? What
are its essential features? Explain its importance in material control. 2016
Q. How Perpetual Inventory System differs from ABC analysis? State
the advantages of ABC analysis. 2017
Q. Explain in brief the process of purchasing and receiving goods.
Q. “Store
ledgers are essential to an efficient costing system”. Considering this
statement highlight the uses and values of store ledgers. Distinguish between
Store ledger and Bin Card (2015SN).
Q. Write Short notes on:
Ø EOQ and its calculation 2010,
2015
Ø ABC analysis differs from VED analysis 2013, 2014, 2016SN, 2019SN
Ø Perpetual (2018SN) and Periodical Inventory System
Q. Practical Questions:
a)
Calculation of EOQ with offer
comparison, 2012
b)
Various levels of material – Reorder
level, maximum level, minimum stock level. 2014,
2025
c)
Pricing of material issue – LIFO,
FIFO, Weighted average and Simple average (focus of return and loss of goods). 2019
Unit – 2: Labour cost – Computation and Control (Part B)
Q. What is idle time? What
are its causes? How it is controlled? Explain the treatment of idle time in
cost accounting. 2012, 2014SN, 2016, 2019
Q. What
are various methods of wage payment? Explain them briefly. 2010
Q. Explain the essentials of a sound Incentive scheme. 2010, 2018
Q. Discuss the principles of Premium Bonus Plan. Describe the
salient features of Rowan Plan and Halsey Plan and also distinguish between
Rowan and Halsey Premium Plan. 2013,
2018, 2019SN
Q. Write short notes on:
Ø Overtime and its treatment 2025
Ø Labour Turnover, its causes and
Control Measure 2013,
2014, 2017SN, 2018SN
Ø Time and motion study 2014SN
Ø Job Evaluation and merit rating
Ø Idle time and overtime 2015SN
Ø Remuneration and Incentives 2015SN
Ø Time keeping, Merit Rating (2014) and time booking
Q. Practical Problems: Rowan and Halsey premium plan, straight
piece rate and Taylor’s differential piece rate method, treatment of overtime
and labour turnover.
Unit 3: Part A (Overheads – Theory)
Q. What do you mean by
overhead cost? Explain the various classification of overhead cost. Mention its
significance. 2013, 2015, 2019
Q. What do you mean by
allocation and apportionment of overheads to cost centres (2017SN, 2018SN)?
What are the bases of overhead apportionment to various departments? 2013, 2017, 2022, 2025
Q. What do you mean by
under absorption and over absorption of Overheads? How do they arise (2015)?
How are they treated in cost accounts? 2015,
2018, 2019
Q. Explain various methods
for absorption of overheads. 2016,
2017
Q. Explain the treatment of
some specific overheads in cost accounting.
Unit
3: Part B (Overheads – Practical)
Q. Practical Problems:
Ø Machine
hour Rate 2013, 2015,
2016, 2017, 2018, 2024
Ø Primary and secondary distribution of
overheads from production department to service department. 2014, 2019, 2025
Unit – 4: job, Contract and Process Costing
Q. What is
Job costing (2018) and Process costing? Distinguish between job costing,
contract costing and process costing. 2016SN, 2017
Q. Explain
the features, advantages and disadvantages of job costing.
Q. What is contract costing? What are its features? Explain how
profit is determined in case of an incomplete contract. 2024
Q. Write short notes on: Cost plus contract, Escalation clause
Q. What
is process costing? What are the fundamental principles of
Process Costing? Point out the advantages and limitations of Process costing. 2019
Q. Explain the meaning and treatment of Normal, Abnormal loss and
abnormal gain in Process Accounts. Distinguish between normal and abnormal process
loss. 2017, 2019, 2019SN
Q. What do you mean by Unit Costing? In which
industries unit costing is applied? Explain its purposes. 2022, 2025
Q. What do you mean by service costing or operation
costing? In which industries service costing is applied? Explain its purposes
and limitations.
Q. Practical
Problems
- Preparation of process accounts together with normal, abnormal
loss and abnormal gain account, preparation of profit and loss account and
costing profit and loss account, treatment of process finished stock and stock
of raw material in process accounts. 2024
- Preparation of contract account 2025