Wednesday, August 21, 2019

M.Com Previous Year Question Papers: Cost and Management Accounting (August' 2009)


2009 (August)
Paper: 103
Full Marks: 80
Time: 3 hours

1.       (a) Write briefly on the evolution of Cost accounting system and Cost concepts. 8+8=16

Or
(b) What are the differences between Activity Based Costing and Conventional Costing and How is cost analysis under activity Based costing is done.  8+8=16

2.       (a) Union Transport company supplied the following details in respect of a truck of 5 tonnes capacity:
Particulars
Amount (Rs.)
Cost of Truck
Estimated Life
Repairs and Maintenance
Driver’s wages
Insurance
General supervision charges
Scrap value
Diesel, Oil, Grease
Cleaner’s wages
Tax
90000
10 years
500 p.m.
500 p.m.
4800 p.a.
4800 p.a.
4500
15 per trip per day
250 p.m.
2400 p.a.
The Truck carries goods to and from the city covering a distance of 50 miles each way. On outward trip freight is available to the extent of full capacity and on return 20% capacity. Assuming that the truck runs on an average 25 days a month, work out:
(a)    Operating cost per tonne mile.
(b)   Rate per tonne per trip that the company should charge if a profit of 50% on freightage is to be earned.    16
Or
(b) An article passes through three successive operations from the raw materials to the finished product stage. The following data are available from the production records of a particular month:
Operation No.
No. of process input
No. of pieces rejected
No. of pieces output
1
2
3
60000
66000
48000
20000
6000
8000
40000
60000
40000
(i)      Determine the input required to be introduced in the first operation in number of pieces in order to obtain finished output of 100 pieces after the last operation.
(ii)    Calculate the cost or raw materials required to produce one piece of finished product, given the following information weight of the finished piece is 0.10kg and the price of raw material is Rs. 20 per kg.    16

3.       (a) Explain the techniques of financial statement analysis.   16
Or
(b) Explain the procedure for interpretation of accounts.   16

4.       (a) The following are the summarized Profit and loss account of S Product Limited for the year ended on 31st December, 2008 and the balance sheet as on that date:
Particulars
Amount
Particulars
Amount
To Opening Stock
To Purchases
To Incidental Expenses
To Gross Profit c/d

To Operating Expenses:
Selling and Distribution
Administration
Finance
To Non-operating expenses:
Loss on sale of assets
99500
545250
14250
340000
999000

30000
150000
15000


4000
349000
By Sales
By Closing Stock



By Gross Profit b/d
By Non-operating Incomes:
Interest
Profit on sale of shares



850000
149000


999000
340000

3000
6000



349000
Balance Sheet as on
Liabilities
Amount
Assets
Amount
Issued capital
2000 Equity shares @ Rs. 100 each
Reserve
Current liabilities
Profit and Loss Account

200000
90000
130000
60000
480000
Land and Building
Plant and Machinery
Stock – in – trade
Sundry Debtors
Cash and Bank Balance
150000
80000
149000
71000
30000
480000
From the following statements you are required to calculate the following ratios and state the purposes they serve:
(a)    Current ratio
(b)   Operating ratio
(c)    Stock turnover ratio
(d)   Return on capital employed
(e)   Earning per share
(f)     Operating profit ratio       16
Or
(b) Elucidate the functional classification of ratios.   16

5.       (a) How shall you project working capital requirements in case of trading and manufacturing organisations?  8+8=16
Or
(b) What are the factors affecting the amount of working capital in an organisation and also show in detail the classification of working capital.   8+8=16

No comments:

Post a Comment

Kindly give your valuable feedback to improve this website.

Popular Posts for the Day