Download Question Paper of "Finaicial Accounting", Question Paper of BBA 2nd Semester, Subject Code : BB - 201, Paper ID C02071 Paper 1

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Total No. of Questions : 071

Paper ID [C02071]

BBA (Sem. – 2nd)

FINAICIAL ACCOUNTTNG (BB - 201)

Time : 03 Hours

Instruction t0 Candidates:

1) Section - A is Compulsory.

2) Attempt any Four questions from Section - B.

Section - A

QI)

a) Briefly discuss the scope of cost accounting.

b) Distinguish between direct and indirect labour.

c) What is economic order quantity?

d) Define  fixed overheads

e) Explain budgetary control.

0 What is cash budget?

g) Explain the meaning of rnaterial price variance

h) Give the formula for calculating P/V ratio.

t Explain absorption of overheads.

j) What do you mean by cash flow statement?

Section - B

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.

Q4) The following data relate to the manufacturer of a standard product during th

       month of March 1997.

Raw material consumed                             Rs. 80,000

Direct wages                                               Rs. 48,000

Machine hours worked                               Rs. 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 @ Rt. 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

Bank interest (Cr)                                       Rs. 30

Income tax (Dr)                                          Rs. 8,300

A provision for Bad and doubtful debts made in financial books did no

occur in cost accounts Rs. 570

Overheads absorbed in cost accounts were Rs. 8,500 while the actual a

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 set

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