Post Graduate Diploma-Post graduate diploma fire and safety 1st Sem 101 : FINANCIAL AND COST ACCOUNTING(University of Pune, Pune-2013)
P.G.D.F.S. (Semester – I) Examination, 2013
101 : FINANCIAL AND COST ACCOUNTING
(2008 Pattern)
Time : 3 Hours Max. Marks : 70
Instructions :
1) Attempt any five questions.
2) All questions carry equal marks.
1. Outline the steps involved in installing a costing system in a manufacturing unit. What are the essentials of an effective costing system ?
2. “Accounting transactions are recorded in a set of books”. Explain stating the principal books of accounts and Subsidiary Books.
3. Sale Price - Rs. 50 Variable Cost - Rs. 30
Fixed cost - Rs. 1,20,000
Find i) B.E.P. value and volume
ii) Required sales at a profit of Rs. 30,000
iii) Margin of Safety
iv) PV Ratio
4. Define standard cost and standard costing. Write the advantages and disadvantages of standard costing.
5. “Trial Balance is not the conclusive proof of accuracy”. Comment.
6. Write short notes on (any two) :
I) Types of Budgets
II) International Accounting Standards
III) Margin of Safety
IV) Controllable costs and uncontrollable costs
V) Cost accounting in Service Sector
7. From the following particulars :
A) Prepare a cost sheet showing
I) The cost of material consumed
II) Prime cost
III) Production cost
IV) Total cost and
V) Profit
B) Calculate
I) Percentage of production overhead to direct wages
II) Percentage of general overhead to production cost
III) Percentage of profit on sales :
Rs Stock of raw materials, 1st January 2011 30,850
Work in progress, 1st January 2011 60,850
Purchases of raw materials 1,43,250
Direct wages 1,78,500
Production overhead expenses 1,42,800
General overhead expenses 1,12,700
Stock of raw materials, 31st December 2011 37,700
Work-in-progress, 31st December 2011 67,750
Sales for the year 8,60,625
———————
| Earning: ₹ 7.05/- |
