Cost Accounting Question Paper
lV Semester B.Com. Examination, September/October 2021
(CBCS) (F + H) (2015-16 and Onwards)
COMMERCE
Paper - 4.4: Cost Accounting
Answer any five sub-questions, each question carries two marks (5x2=10)
1. a) What is cost sheet
b)Define cost accounting.
c)How do you calculate bonus under Halsey premium plan ?
d)Define overhead.
e)State the purpose of preparing a reconciliation statement.
f)What is Bincard ?
g) What is Chargeable Expenses ?
SECTTON _ B
Answer any three questions, each carries six marks : : (3x6=18)
2. What are the essentials of a good wage payment ?
3. Calculate Re-order level, maximum level' minimum from the following information :
Re-order quantity 1500 units
Re-order Period 4 to 6 weeks
Maximum consumption 400 units per week
Normal consumption 300 units per week
Minimum consumption 250 units per week'
4.Standard time allowed for a job is 30 hours at the rate of Rs.100 per hour.Actual time saved by a worker is 6 hours.Calculate the earning under Halsey System and Rowan system.
5.From the following figures prepare a Cost Sheet showing cost per unit and profits.
Flaw materials consumed Rs. 80,000
Direct wages Rs. 48,000
Machine hours worked 8000 hours
Machine hour rate Rs. 4
Office overhead - 10% of factory cost
Selling overhead - Rs. 1.50 per unit
Units produced - 4000
Units sold - 3600 @ Rs. 50 each.
6. Prepare stores ledger under FIFO method from the following information :
June 07,2020 Purchased 500 units @ Rs' 12 per unit
June 13,2020 Purchased 700 units @ Rs' 10 per unit
June 22,2020 issued 1,000 units
June 25,2020 Purchased 1,500 units @ Rs 8 per unit
June 30,2020 issued 1,000 units'
Section C
Answer any three questions. Each answer carries 14 marks : 3 x 14=42
7. The following data is furnished by a company for the year 2019 :
Stock of materials on 1-1-2019 70,000
Stock of materials on 31-12-2019 10,000
Purchase of materials 1,00,000
Factory wages 2,00,000
Factory expenses 36,000
Administrative expenses 44,000
Opening stock of finished goods on 1-1-2019 Nil
Closing stock of finished goods on 31-12-2019 40,000
Sales 5,00,000
Production during 2019 was 4000 units
The company wants to quote for a contract for the supply of 1000 units during the year 2020. During 2020, the cost of materials increased by 15% and that of factory wages by 10%. Prepare a statement of cost for the year 2019 and a tender statement for 2020 showing the price to be quoted per unit, if the same percentage of profit is maintained as in the previous year. Assume the overhead charges per unit will be the same as in 2019.
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