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Roll No.......................
Total No. of Questions : 07]
[Total No. of Pages : 02
Paper ID [C0207]
(Please fill this Paper ID in OMR Sheet)
BBA (Sem. -2nd)
FINANCIAL ACCOUNTING (BB - 201)
Time : 03 Hours Maximum Marks : 60
Instruction to Candidates:
1)
Section - A is Compulsory.
2)
Attempt any Four questions from Section - B.
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(10 x 2 =
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Section - A
Ql) (10*2 = 20)
a)
Briefly discuss the scope of cost accounting.
b)
Distinguish between direct and indirect labour
c)
What is economic order quantity? Define fixed overheads. Explain budgetary
control.
f)
What is cash budget?
g)
Explain the meaning of material price variance
h) Give the formula for calculating P/V ratio.
i) Explain absorption of overheads.
j) What do you mean by cash flow statement?
Section - B
(4*10 = 40)
Q2) What is cost accounting?
Explain briefly the objects and advantages of cost accounting.
Q3) Define overhead costs. Distinguish between fixed ,semi
fixed and variable overhead cost giving an example of each.
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q4) The following data relate to the manufacturer of a
standard product during the month of March 1997.
Raw
material consumed Rs. 80,000
Direct
wages Rs. 48,000
Machine
hours worked 8,000
Machine
hour rate Rs. 4
Office overheads 10% of works cost
Selling
overheads Rs. 1.50 per unit sold
Unit produced 4,000
Units
sold 3,600 @ Rs. 50 each
You are required to prepare a
cost sheet in respect of the above showing:
a) cost per unit b) profit
for the period
q5) What do you mean by fund flow statement? Distinguish
between cash flow and fund flow statement.
q6) The net profits shown by the financial accounts of a
company amounted to Rs. 28,550 whilst the profits disclosed by the company's
cost accounts for that period were Rs. 38,660. On reconciliation the following
differences were discovered:
The
following items were not included in cost accounts:
Director's fee (Dr.) Rs. 650
Director's fee (Dr.) Rs. 650
Bank interest (Cr) Rs. 30
Income
tax (Dr) Rs. 8,300
A provision for Bad and doubtful debts made in
financial books did not occur in cost accounts Rs. 570
Overheads absorbed in cost accounts were Rs. 8,500
while the actual as shown in financial accounts were Rs. 8,320
The expenditure on a work started during the year on a
new factory was Rs. 16,000.
Depreciation @ 5% was provided
in the financial books.
Prepare a statement
reconciling the figures of profit as shown by the two sets
of books.
Q7) Data relating to a job are
thus:
Standard
rate of wages per hour Rs. 10
Standard hours 300
Actual
rate of wages per hour Rs. 12
Actual hours 200
You are required to calculate:
a)
Labour cost variance
b)
Labour rate variance
c)
Labour efficiency variance
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