Sunday, February 17, 2019

Gauhati University Question Papers
COST AND MANAGEMENT ACCOUNTING (May-June’ 2015)
Full Marks: 80
Time Allowed: 3 hours
GROUP – A
COST ACCOUNTING
Marks: 40
Answer either in English or Assamese
The figures in the margin indicate full marks for the questions
ANSWER ALL THE QUESTIONS AS DIRECTED
1. Answer the following as directed:                                       1x4=4

a)      Work in progress is valued at what cost?
b)      What is committed cost?
c)       On what basis welfare-service cost is apportioned?
d)      What is machine hour rate?
2. Answer (any three) Questions of the following:            2x3=6
a)                  Why opportunity costs are not recorded in the books?
b)                  What is Cost Unit?
c)                   Give two examples of unavoidable causes of labour turnover.
d)                  What is Flat Time Rate?
3. Write explanatory notes on any two of the following:                                5x2=10
a)      Joint cost and Common Cost.
b)      Relationship between Cost Accounting and Management Accounting.
c)       VED Analysis.
4. What is Overtime? How is overtime cost treated in Cost Accounting? How can such cost be controlled?        2+4+4=10
 Rs. Annual demand 2400 units Unit price Ordering cost per order Storage cost Interest rate 2.40 4.00 2% per annum 10% per annum

Or
From the above particulars calculate Economic Order Quantity.                              10
5. Define Current Standard and Basic Standard. How Standard costs are different from Estimate costs?                  5+5=10
Or
The standard cost card shows the following details relating to materials needed to produce 1 kg of groundnut oil:
a)                  Quantity of groundnut required 3 kg.
b)                  Standard price of groundnut Rs. 2.50 per kg.
c)                   Actual production 1000 kg.
d)                  Actual quantity of material used 3500 kg.
e)                  Actual price of groundnut Rs. 3 per kg.
Calculate
a)      Material cost variance.
b)      Material price variance.
c)       Material usage variance.
GROUP – B
MANAGEMENT ACCOUNTING
Marks: 40
The figures in the margin indicate full marks for the questions.
6. Answer the following as directed:                                       1x4=4
a)      What do you mean by interpretation of financial statement?
b)      What is dynamic analysis?
c)       What is the premise of zero-base budgeting?
d)      Give an example of budget key factor.
7. Write short notes on (any three) of the following:                       2x3=6
a)      Flexible Budget.
b)      Contribution.
c)       Comparative Income Statement.
d)      Cash-flow statement.
8. Answer (any two) of the following:                     5x2=10
a)      What are the objectives of Management Accounting?
b)      Explain the functions of a Management Accountant.
c)       Distinguish between standard costing and budgetary control.
9. Explain how Ratio-Analysis is a useful tool of shareholder, Banker, Management, Employees and the Government.   10
Or
Explain Current Ratio, Quick Ratio and Absolute Liquid Ratio indicating the particulars of current assets and current liabilities and their ideal proportions.                                      4+3+3=10
10. What is Break-Even Analysis? What are its assumptions? How is break-even-point calculated in terms of sales units and value?                                   2+4+2+2=10
Or
 Rs. Fixed Cost Selling price Variable Cost 12000 12 per unit 9 per unit

From the above information, calculate:
a)      Profit at a sales volume of Rs. 60,000/- and Rs. 1,00,000/-
b)      Desired sales to earn a profit of Rs. 6,000/- and Rs. 15,000/-                                 5+5=10

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