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Semester B.B,M. Examination, April/May 201S (2013-14 & Onwards)
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- 4.6 : COST ACCOUNTING
Paper Time : 3 Hours
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Business Management
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SECTION
in Engtish only.
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lnstruction: Answers must be written
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Max. Marks : 100
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(8x2=16)
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a) What is prime cost ?
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Answer.any.eightofthefollowingsub-questions'Eachsubqqestioncarries
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b) State any two points of differences between Cost Accounting and Financial
c)
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Accounting.
Calculate EOQ from the following information. Annual usage z4}Ounits, buying
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cost per order Rs. 4 cost per unit Rs. 2.4A carrying cost 1Z%.
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d) What is scrap ? Give an example. e)
whatisidletime?
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f) What?s-i'an60ffurhover?
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s) Mention the basis of apportionment for the following expenses
i) Rent F lccr ti' .,a iii) Electricity charges
ii) Depreciation
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iv) Canteen e*penses.
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h) Give two examples of Fixed overheads'
i) Mention
expens"t'll .'^^'i:y -, , I !,,0r.'-r.'rt g
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Cost and How is overvaluation of opening stock adjusted while Reconciling
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any 4 pure Financial items of
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thefollowing'
(3x8=24)
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Answeranythreeof
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FinancialAccounts ?
Distinguish between cost and FinancialAccounting'
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particulars. Compute Machine Hour Rate of one machine from the foltowing
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2.
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Rent and Taxes (for 9 months) :T 5,400
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6,000
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Supervision Charges (for 3 months)
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300
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lnsurance (for 6 months)
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Lighting (for one month)
100
Repair Charges (Per annum)
:t
2,000
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Power Consumption : 5 units per
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Power Charges
Cost of Machine
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hour
50 for 250 units
{ 45,000
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ScraP Value :T 5,000
Life of Machine : 10 Years
half of the Machine works for 2,400 hours per annum. This machine occupies 1/o*h of his time for this machine. total area of the factory. supervisor spends Lighting charges must be apportioned on the basis of area occupied'
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produced 200 units in a week's time. The guaranteed weekly wage payment for 45 hrs ist g1 . The expected time to produce one unit is 15 minutes which is raised further by 20"/, underthe incentive scheme. What will be earnings
aleworker
following particulars relating to material 'X'find
1) Re-order
level
2) Maximum level 3)
Minimum level
50 units Per week
Minimum usage Maximum usage
- 25 units Per week
- 75 units Per week
Re-orderQuantitY
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4) Average stock level. Normal usage
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;tl(romthe
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? per hourof thatworker under Halsey (50% sharing) and Rowan bonus schemes
- 400 units
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Re-order period 4 - 6 weeks.
SECTION _ C
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Answer euestion No.10 andany three of the remaining questions. Each question (4x15=60) carries 15 marks.
g-erepare Stores l-edgpr under FIFO and LIFO method, from the following 1st
March 250 units @ t
3rd
March 50 units material issued M'R. No' 61 T
6th
March
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2015
information
:
1,00 per unit
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,
800 units material received wide goods received Note No. 13 @ T 1.20 P.u.
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7th March
lssued 300 units M.R. No.63
Bth March
?n,*t \ Returned to stores 20 units issued on M.R. No. 61
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lssued 100 units M.R. No. 102
9th March 1Sth
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200 units received on G.R. Note No. 96
March
@T
1.00 per unit
lssued 150 units M.R. No. 130
26th March
A firm has three production departments A, B and C and two service departments
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X and Y. The following figures are extracted from the books of the firm.
'\2ts' Deplejciation{4,000,
i)oait' '? Bil ..ti.hl-^ Rentt2,000 Power{600, Lightihgt24O, lndiredtwages{ 600,
Other particulars
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BoJ and other expenses{ 4,000.
B
c
XY
400
50e
600
400
100
900-
600
90e
90e
700
4
4 ^i y6 %-
ed
A
Floor space (Sq.
(Q
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Direct wages
ft)
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Light points
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HP of
(No.)
machines
.t9
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Value of Machinery ({) 12,000
16,000
20,000
Workinghours
2,014
2,033
3,113
41il 1fi
1,oes 1,00s
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The expenses of Service Deparlments X and Y are to be allocated as follows
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X 2[o/o g()o/o 4ry/. Y 4A% 20"/o 20% 20%
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ABCXY 10%
Show the distribution of service department expenses to the production
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departments A, B and C and calculate hourly rate of each production department.
i)
Straight Piece rate
ii) DifferentialPiece
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From the following particulars, calculate earnings of a worker under
rate
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(Use repeated distribution method)'
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Halsey Bonus Plan (50% sharing) and
iv)
Rowan Premium Scheme.
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Weekly working hrs - 40
Piece rate per Piece - Rs. 6
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Hourly rate of wages
- Rs. 15
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Normaltime taken per piece
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Normal output Per week
-
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20 minutes
120 Pieces
Actual output of the worker per week
Differential piece rate
- 150 pieces
:
a) 80% of piece rate for output below normal output'
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S466the following figures prepare a Reconciliation Statement and determine FinancialProfit.
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Net profit as per costing books
66,760
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5,700
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Administration overhead recovered in excess in costing
4,250
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Depreciation charged in financial books
3,660
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Factory overhead under recovered in costing
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3,950 . J
450' +-
lncome tax provided in financial books
600 :-
Bank interest credited in financial books
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Stores adjustment (Credited in financial books)
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Depreciation of stock charged in financial books
860
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lnterest received recorded in financial books
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Depreciation recovered in costing books
Dividend appropriated in financial books
230
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1,200
260
Loss due to obsolescence charged in financial books
290 -:-
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Loss due to theft provided in financial books
the year
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10. Fram the following prepare a Cost and Profit Statement of Sunlight Lamp Co. for
2015. t
Stock ol materialon 1 -4-14 Stock of material on 31-3-2015 Purchase of material
/
&5,000
,P
4,900
7'
52,500
T
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17,500 10,000
-3-15
Sales
35$$$
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95,000
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wages Factory expenses Establishment expenses Direct
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1,89,000 \
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The number of solar lamps manufactured during the year 2014-15 was 4,000.
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The company wants to quote for a contract for the supply of 1,000 solar lamps during the year 2015-16. The lamps to be quoted are of uniform quality and make
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increased by 1lY"and wages by 10%.
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and similar to those manufactured in the year 2O14-15. The cost of material has
Prepare a statement showing the price to be quoted to give the sdme percentage
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of net profit on turnover as realised during the year 2014-15 assuming cost per
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unit overheads will be the same as in previous year.
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