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Posted By: shalat Member Level: Gold Posted Date: 14 Jun 2008
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2008 Bangalore University B.Com cost accounting ,june 2008 Question paper
IV Semester B.com ,Examination,June 2008
(Semester Scheme)
COMMERCE
COST ACCOUNTING
Time:3 hours
max marks:90
Instruction:Answer should be written completely either in KANNADA or in ENGLISH
SECTION-A
1. Answer any ten of the following .Each question carries two marks(marks:10*2=20)
a)Define cost accounting
b)Give the meaningof direct labour with two example
c)Give the meaning of cost center with 2 example
d)What is Materials Control?
e)What is time study?
g)Give the meaning of piece rate system and state any 2 advantages
h)What is Labour Hour Rate?
i)What is perpetual inventory control system?
j)What is merit rating?
k)state the bases of appointment of the following:
a)Supervision expenses
b)Electric power
c)Labour welfare expenses
d)Depreciation on machinery
i)Wages per hour Rs.80;standard hours 80;Time taken 60 hours.Calculate
earning under Rowan Plan.
SECTION-B
Answer any five of the following .Each question carries five marks(marks:5*5=25)
2.Briefly explain any five advantages of cost accounting
3.What is ABC analysis ?What are its advantages?
4.Distinguish between simple average method and weighted method
5.Briefly explain any five essential of an ideal wage system
6.Give the meaning of EOQ and calculate EOQ from the following
Monthly consumption 1,500 units
Ordering cost Rs.50 per order
Inventory carrying cost per month per unit Rs.0.60
7.Prepare Stores Ledger under FIFO method from the following information
June 07, 2007 Purchased 500 units @ Rs. 12 per unit
June 13, 2007 Purchased 700 units @ Rs. 10 per unit
June 22, 2007 issued 1,000 units
June 25, 2007 Purchased 1,500 units @ Rs. 8 per unit
June 30, 2007 Issued 1,000 units
8.From the following details ascertain profit
PARTICULARS UNITS Rs.
Cost of production 30,000 15,00,000
Opening stock 5,000 2,25,000
Closing stock 8,000 ?
Selling and Distribution overheads
Per unit sold - 5
Total sales - 20,00,000
9.From the following details ,calculate labour cost per day of 8 hours:
Basic Pay Rs. 7,500per month
DA 50%
Contribution to RPF 8% of basic pay &DA
Contribution to ESI 4% of basic pay &DA
Pro-rate canteen expense Rs.775 per month per worker.
Total working house per month 200
SECTION-C
Answer any THREE of the following .each question carries FIFTEEN marks(marks:3*15=45)
10.Following particulars relate to Nischal Ltd.,for the year 2007
Rs.
Stock of raw-materials on 1-1-2007 2,25,000
Stock of finished goods on 1-1-2007 2,23,000
Stock of raw-materials on 31-12-2007 2,75,000
Stock of finished goods on 31-12-2007 3,40,000
Purchase of raw-materials 19,50,000
Productive wages 14,00,000
Works on cost 2,80,000
Office on cost 5,37,000
Sales on cost 2,00,000
Sales 50,00,000
the company has to submit a quotation for a large order .It is estimated that direct
materials and direct labour required would cost Rs. 2,40,000 and Rs. 1,80,000
respectively
You are required to-
a)Prepare a statement of cost and profit for the year 2007
b)Calculate the percentage of works on cost to productive wages and office on
cost to works for the year 2007 and
c)Prepare a statement based on the previous year`s percentage showing the quotation
price for the large order assuming that 20% profit is expected on the quotation price.
11.Following is the history of receipts and issue of raw-materials in Nitin Ltd., during
April ,2008
'' 3, issued 70 units
'' 4 issued 100 units
'' 8 issued 80 units
'' 13 Purchased 200 units at Rs.24.50 per unit
'' 14 Return of surplus 15 units at Rs.24
'' 16 Issued 180 units
'' 20 Purchased 240 units at Rs. 24.40 per unit
'' 24 Issued 304 unit
'' 25 Purchased 320 unit at Rs. 24.30 per unit
'' 26 Issued 112
'' 27 Return of surplus 12 units at Rs. 24.50 per unit
'' 28 Purchased 100 units at Rs.24.50 per unit and paid freight charges Rs.200.
The stocks verification reveals that on the 15th April ,2008 their was a shortage of 5 units
and on 27th April,2008 another shortage of 8 units
12. a)From the following data calculate average stock level
Maximum usage 3,600 units
Minimum usage 2,400 units
Time lag for procurement of materials 2-6 weeks re-ordering quality
9,000 units.
b)Following data is available in respect of Machine A and Machine B .Calculate
Machine hour rate
Rs.
Consumable Stores-Machine A 3,000
Machine B 5,000
Repair expenses Machine A 2,574
machine B 5,616
Depreciation 18,000
Insurance-Machineries 15,000
building 12,000
Room Service 3,000
General Expenses 2,000
ADDITIONAL INFORMATION:
PARTICULARS MACHINE
A B
Working hours(Mo.) 2,200 1,800
Area Occupied(Sq.ft.) 3,000 5,000
Book value(Rs) 40,000 60,000
NOTE:General expenses should be apportioned equally between Machine A and
Machine B
13.Nishanth Lt., has three production and two service departments.From the following the following
figures prepare the overhead distribution summary repeated distribution method
for secondary distribution and calculate the overhead rate per labour hour
PRODUCTION DEPARTMENT SERVICE DEPARTMENTS
PARTICULARS A B C D E
Direct materials(Rs.) 45,000 30,000 15,000 12,000 9,000
Direct wages(Rs.) 30,000 22,500 15,000 6,000 4,500
Value of machines(Rs.) 60,000 45,000 30,000 - -
Floor Area(Sq.ft.) 30,000 20,000 15,000 10,000 5,000
HP of Machines 240 200 160 - -
No of light points 120 90 60 30 20
No. of labour hours 5,000 5,000 5,000 - -
OTHER DETAILS:
Indirect materials Rs. 22,2000; Indirect wages Rs. 15,6000;
Depreciation on Machinery Rs. 27,000; depreciation on building Rs. 12000; rent,
rates and taxes Rs. 9,000;Electric power Rs. 33,750; Lighting Rs. 2,400; General
expenses Rs. 7,800
The service rendered by each service department to other department is as under:
DEPARTMENTS A B C D E
D 30% 40% 20% - 10%
E 10% 20% 50% 20% -
14.From the following details ,you are required to prepare a statement reconciling the profit
shown as per cost books with the profit shown as per financial books
PARTICULARS COST FINANCIAL
BOOKS BOOKS
Rs. Rs.
a)Net profit 3,46,750 3,38,650
b)Works overheads/expenses 37,600 33,250
c)Administration overheads/expenses 42,500 46,200
d)Selling overheads/expenses 31,300 35,800
e)Value of opening stock 18,000 22,300
f)Value of closing stock 23,000 25,800
g)Depreciation 21,500 18,600
h)Stores adjustment(credit) - 1,250
i)Reserve for doubtful debts - 7,250
j)Interest on bank deposits - 6,150
k)Loss on sale of Machinery - 5,800
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