2022 Cost Accounting Question Paper (Non-Hons), Dibrugarh University B.Com 4th Sem CBCS Pattern

Cost Accounting Question Paper (Hons) 2022 (June/July)
Dibrugarh University B.Com 4th Sem CBCS Pattern
COMMERCE (Non-Honours)
Paper: CC – 403 (Cost Accounting)
Full Marks: 80
Pass Marks: 32
Time: 3 hours
The figures in the margin indicate full marks for the questions

1. (a) Choose the correct answer:              1x4=4

(i) Cost Accounting is useful for

(1) ascertaining the financial position of a firm.

(2) ascertaining the profit or loss of a firm.

(3) controlling cost.

(ii) What level is fixed in order to avoid overstocking?

(1) Average level.

(2) Maximum level.

(3) Reorder level.

(iii) Process costing is not used in

(1) central industry.

(2) chemical industry.

(3) oil refinery.

(iv) Which of the following items is not a pure financial item?

(1) Dividend received.

(2) Fines and penalties.

(3) Interest on own capital invested in business.

(b) Write True or False:              1x4=4

(1) Abnormal cost is controllable.

(2) High labour turnover rate denotes good human relations.

(3) Depreciation is a semi-variable expenses.

(4) Process costing is applied in garment industry.

2. Write short notes on (any four):            4x4=16

(a) Characteristics of an ideal costing system.

(b) Minimum stock level.

(c) Allocation of overhead.

(d) Batch costing.

(e) Memorandum Reconciliation A/c.

3. (a) Discuss in detail the advantages and limitations of Cost Accounting.               6+6=12

Or

(b) Prepare a Cost Sheet from the following:             12

	Rs.
Stock of raw materials on 1-4-2021 Stock of raw materials on 31-3-2022 Work-in-progress on 1-4-2021 Work-in-progress on 31-3-2022 Finished goods on 1-4-2021 Finished goods on 31-3-2022 Materials purchased Direct labour Manufacturing overheads Selling expenses General and office expenses Sales	40,000 32,000 55,000 72,000 64,000 1,51,000 1,52,000 1,45,000 1,08,000 50,000 40,000 8,00,000

4. (a) XYZ Ltd. manufactures a product A and provides you the following particulars:

Cost of placing an order Annual carrying cost per unit Normal usage Minimum usage Maximum usage Reorder period

Rs. 90 Rs. 5.20 50 units per week. 25 units per week. 75 units per week. 4 to 6 weeks.

Compute the following from the above data:                 2+2+2+2+3=11

(1) Reorder quantity.

(2) Reorder level.

(3) Minimum level.

(4) Maximum level.

(5) Average stock level.

Or

(b) A worker takes 80 hours to do a job for which the time allowed is 100 hours. His daily rate is Rs. 2.50 per hour. Calculate the works cost of the job under the following methods of payment of wages and statement of works cost: 3+4+4=11

(1) Time rate.

(2) Halsey plan.

(3) Rowan plan.

Additional information:

(a) Material cost Rs. 120.

(b) Factory overheads 125% of wages.

Also Read: Cost Accounting Question Papers and Solutions

5. (a) What do you mean by overhead cost? Explain the various classifications of overhead cost and its bases of apportionment.                4+7=11

Or

(b) Compute the Machine Hour Rate from the following data:                11

	Rs.
Cost of machine Installation charges Scrap value after 10 years Rent of the shop per month General lighting for the shop per month Insurance for the machine per annum Repairs per annum Power consumption 10 units per hour and cost of power per unit Shop supervisor’s salary per month Estimated working hours per annum	10,00,000 1,00,000 50,000 10,000 2,000 9,000 10,000 4 15,000 2,500 hours

The machine occupies 1/4^th of total area of the shop. Supervisor devotes 1/3^rd of his time for the machine.

6. (a) Explain the special features of Job Costing and Contract Costing.                   6+5=11

Or

(b) A product of XYZ Ltd. passes through two processes A and B. 10,000 units at a cost of Rs. 1.10 were issued to Process-A. Other direct expenses were as follows:

Particulars	Process-A	Process-B
Sundry materials Direct labour Direct expenses Output	Rs. 2,000 Rs. 4,500 Rs. 1,500 9,000 units	Rs. 2,000 Rs. 8,000 Rs. 1,500 9,120 units

Wastage of Process-A was 5% and in Process-B was 4%. Wastage of Process-A was sold at Rs. 0.25 per unit and that of Process-B at Rs. 0.50 per unit. Overhead charges were 160% of direct labour. Prepare Process-A A/c and Process-B A/c. 11

7. (a) What is Reconciliation Statement? How is it prepared? Give its specimen.                 3+4+4=11

Or

(b) During the year ended 31^st March, 2022, a company’s profit as per financial accounts was Rs. 16,624. Prepare a Reconciliation Statement and arrive at the profit as per Cost Accounts using the additional information given below:    11

Profit & Loss A/c for the

Year ended 31^st March, 2022

	Rs.		Rs.
Opening Stock Purchases Direct Wages Factory Overheads Administrative Overhead Selling Expenses Net Profit	2,47,179 82,154 23,133 20,826 9,845 22,176 16,624	Sales Closing Stock Sundry Income	3,46,500 75,121 316
	4,21,937		4,21,937

The closing records show –

(1) Closing Stock Rs. 78,197.

(2) Direct Wages Rs. 24,867.

(3) Factory Overheads absorbed Rs. 19,714.

(4) Administrative Expenses calculated at 3% of Sales.

(5) Selling Expenses absorbed @ 5% of Sales.

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