Gauhati University Question Papers
COST AND MANAGEMENT ACCOUNTING (May-June’ 2016)
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.
(a) Answer the following as directed: 1x6=6
1) All
costs are controllable. (Write True or False)
2) Variable
cost varies
a. In
proportion to volume of production.
b. Not
in proportion to volume of production.
c. In
proportion to administrative overheads.
d. Not
in proportion to distribution overheads.
(Choose
the correct option)
3) Bin
card shows
a. Works
in process inventory and value of stores.
b. Quantity
of stores.
c. Both
value and quantity of stores.
d. Value
of waster material.
(Choose
the correct option)
4) Recording
of employees’ attendance in and out of the factory or department is known as
time-keeping. (Write True or False)
5) Salary
of salesmen is
a. An
example of fixed overhead.
b. An
example of variable overhead.
c. A
case of controllable direct cost.
d. A
case of uncontrollable indirect cost.
(Choose
the correct option)
6) Departmentalisation
of items of cost is known as primary distribution. (Write True or False)
(b) Answer any two questions of the following: 2x2=4
1)
Give two examples of semi-variable cost.
2)
Write the objectives of Cost Accounting.
3)
Write the time rate of wages.
(c) Answer any two questions of the following: 5x2=10
1) Write
the classification of cost.
2) What
are the different techniques of costing?
3) What
is ABC analysis?
4) What
are under absorption and over absorption?
2.
What is Cost Accounting? Explain the differences between Cost Accounting and
Financial Accounting. 10
Or
What is a cost sheet? You are also required to prepare a
Cost Sheet from the following information: 2+8=10
Mr. Gopal furnishes the following data relating to the
manufacture of a standard product for the month of April 2010:
|
|
Rs.
|
|
Raw materials used
Direct labour
charges
Machine hours worked
Machine hour rate
Administrative
overheads
Selling overhead
Units produced
Units sold
|
15,000
9,000
900 hours
5
20% on works cost
0.50 per unit
17,100 units
16,000 units at Rs. 4 per unit
|
3.
What is labour turnover? What are the costs associated with it? 4+6=10
Or
What do you understand by standard costing? What are the
advantages of standard costing? 4+6=10
GROUP – B
MANAGEMENT ACCOUNTING
Marks: 40
4.
(a) Indicate whether the following statements are True or False: 1x6=6
a) Management
Accounting composed of those accounting activities which promote efficiency in
business operations.
b) Budgetary
control is one of the tool and technique of Management Accounting.
c) Current
ratio is used to make the analysis of a long-term financial position.
d) A
funds flow statement is good substitute for income statement.
e) Sales
+ Variable Cost = Fixed Cost ± Profit.
f) A
budget prepared on the basis of standard or fixed level of activity is termed
as fixed budget.
(b)
Answer any two questions of the following: 2x2=4
a) Write
the scope of Management Accounting?
b) Explain
any two uses of ratio analysis.
c) What
is meant by funds from operation?
d) What
is P/V ratio?
(c)
Answer any two questions of the following: 5x2=10
1)
Write the relationship between Management
Accounting and Financial Accounting.
2)
The following liquidity ratios related to two
companies:
|
|
X Company
|
Y Company
|
|
Current ratio
Quick ratio
|
2.50
1.50
|
3.00
0.85
|
Comment on the liquidity position of the two companies.
3) What
are the different types of financial statement?
4) State
briefly the effects of the following on break-even point and profit-volume
ratio:
a) Reduction
in variable cost per unit.
b) Increase
in total fixed cost.
5.
Find out (a) Current assets, (b) Current liabilities, (c) Liquid assets and (d)
Inventory from the following information:
10
|
|
Rs.
|
|
Current ratio
Acid-test ratio
Working Capital
|
2.8
1.5
1,62,000
|
Or
Explain the marginal applications of marginal costing in any
four areas of decision making. 10
6.
Write notes on the following: 5+5=10
a) Any
two tools and techniques of Management Accounting.
b) Break-even
chart.
Or
You
are required to prepare a flexible budget for the production of 7000 units. The
expenses for the production of 5000 units in a factory are given below: 10
|
|
(per unit)
(Rs.)
|
|
Materials
Labour
Variable overhead
Fixed overhead (Rs.
50,000)
Administrative
Expenses (10% variable)
Selling expenses
(20% fixed)
Distribution
expenses (20% fixed)
|
100
10
10
10
10
6
5
|
|
Total cost of sales
|
151
|
***
Post a Comment
Kindly give your valuable feedback to improve this website.