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
Post a Comment
Kindly give your valuable feedback to improve this website.