Cost Accounting, Question Paper of B.Com 4th Semester, Download Previous Years Question Paper 2

Roll No.

Total No. of Questions: 07]

B.Com. (Sem.-4 th)

COST ACCOUNTING-I

Subject Code: BCOP-403

Paper ID: [B142]

Time: 3 Hrs.

INSTRUCTION TO CANDIDATES:

1) Section-A is Compulsory.

2) Attempt any four questions from Section-B.

SECTION–A

l. Answer briefly :

a) Prime cost

b) Selling and distribution overheads

c) Notional profits

d) Inter-process profits

e) Material Usage Variance

f) Fixed Budgets

g) Contribution

h) By-products

i) LIFO

j) Target Costing

SECTION-B

2. Explain the difference between Cost, Financial and Management accounting.

3. Prepare cost sheet from the following information regarding expenses

incurred on various items :

Rs.

Raw Material Purchased                                                                   25,000

Wages paid                                                                                       10,000

Fuel Expenses                                                                         5,000

Power charges                                                                          7,000

Salary to office staff                                                                12,000

Depreciation on machinery                                                     4,000

Rent of office building                                                             7,000

Stationery                                                                                5,000

Advertisement                                                                         6,000

Packaging                                                                                2,000

Salesman's Salary                                                                             6,000

Closing stock of raw material                                                  2,000

Opening stock of raw material                                                          7,000

4. Write note on the following methods of wage payment and incentive

plans:

i) Gantts's Task and Bonus Plan

ii) Halsey Premium plan

iii) Rowan Premium Plan

iv) Merricks Multiple Piece rate system

5. The following Information relates to a Building Contract for Rs. 15,00,000

for two years i.e., 2011 and 2012

2011 2012

Rs.                                 Rs.

Materials issued                                3,50,000                        1,20,000

Direct Wages                                     2,55,000                        1,35,000

Direct Expenses                                52,000                          20,000

Indirect Expenses                              18,000                          2,500

Work Certified                                  8,60,000                        15,00,000

Work Uncertified                              40,000                                     —

Materials at Site                                25,000                           37,000

Plant issued                                                25,000                           6,000

Cash Received from Contracted        6,00,000                        15,00,000

The value of plant at the end of 2011 was Rs. 6,500 and Rs. 3,000 at the end of year 2012. Prepare i) Contract Account ii) Contracture’s Account for 2011 and 2012 taking into consideration such profits for transfer to Profit and Loss accounts as you think proper.

6. Write note on each of the following :

i) Activity Based Costing

ii) Life cycle Costing

7. What is Budgetary Control? Explain the advantages and disadvantages of

budgetary control.