Wednesday, August 21, 2019

M.Com Previous Year Question Papers: Cost and Management Accounting (August' 2008)


2008 (August)
Paper: 103
Full Marks: 80
Time: 3 hours

1.       (a) What is cost accounting? Discuss the nature and objectives of cost accounting.    5+6+5=16

Or
(b) Give the meaning of activity based costing. Narrate its advantages. Distinguish between Activity based costing and Conventional costing.   5+4+7=16

2.       (a) From the following data relating to a tempo compute the cost per running km.
Particulars
Amount
Kms. Run (Annual)
Kms. Run per litre
Estimated life in Kms.
Cost of vehicle
Road Licence (Annual)
Insurance (Annual)
Garage Rent (Annual)
Supervision (Annual)
Driver’s wages per hour
Cost of petrol per litre
Repairs and Maintenance per km.
Tyre allocation per km.
20000
25
120000
30000
1000
800
500
1500
5
2
1.50
0.75

You are to charge interest on the cost of vehicle at 5% per annum. The vehicle runs 25 kms. Per hour on average.  16
Or
(b) A certain product passes through three distinct processes before it is completed. The output of each process is charged to the next process       at a price calculated to give a profit of 20% on transfer price. The output of process III is charged to the finished stock account on a similar basis. There was no work-in-progress at the beginning of the year and overheads have been ignored. Stock in each process have been valued at the price cost of the process. The following data have been obtained at the end of 31st December, 2007:
Particulars
Process-I
Process-II
Process-III
Finished Stock
Direct Materials
Direct Wages
Stock (31.12.2007)
Sales during the year 2007
4000
6000
2000
------
6000
4000
4000
------
2000
8000
6000
------
            --------
--------
3000
36000
From the above information prepare:
(i)                  Process cost account showing profit element at each stage;
(ii)                Actual realised profit; and
(iii)               Stock valuation as would appear in the balance sheet.   10+3+3=16

3.       (a) From the following Balance sheet of A. Ltd., Prepare a position statement as on that date and comment on the financial position of the company:    16
Balance Sheet of A Ltd. As on 31st December, 2010
Liabilities
Amount
Assets
Amount
Share Capital
Authorised:
Issued and Subscribed:
15000 equity shares of Rs.10/- each called up
Reserves and Surplus:
Capital reserve
General Reserve
Secured and Unsecured Loans
Current Liabilities



150000


40000
30000
80000
45000
Fixed Assets:
Plant and Machinery
Other Fixed Assets
Investments (Long Term)
Current assets

105000
85000
25000
130000

Total
345000

345000

Or
(b)Explain trend percentages as a tool of analysis highlighting on methods of calculation, advantages, limitations and precautions to be taken.  5+5+6=16               

4.       (a) The profit of a company is Rs. 50,000 after charging interest of Rs. 6000 on debentures and providing Rs. 24000 for taxes, the assets of the company consists of fixed assets Rs. 200000, current assets Rs. 600000 and preliminary expenses Rs. 30000, Discount on issue of debenture is Rs. 10000. Compute the return on capital employed.  16
Or
(b) What is ratio analysis? State the objects of Balance sheet ratios.  5+11=16

5.       (a) In calculation of figures for working capital projection, what are the time lag for payments to creditors for goods and time lag in payment of expenses and how they are calculated?   8+8=16
Or
(b) Show the classification of working capital on different basis, depending on the purpose of analysis.  16

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