Vinayaka Missions University 2010 M.Com Accounting and Finance Advanced cost accounting - Question Paper

COURSE CODE - 2040101
PG DEGREE exam – JAN 2010
MCOM / MCOM (ALL BRANCHES)
ADVANCED COST ACCOUNTING
(For Candidate Admitted from calendar 2007 onwards)
Time: three Hours Max. Marks: 75
PART–A
ans All the Questions: 10 X two = 20
1. What is cost Accounting
2. List of the elements of cost.
3. elaborate Factory Overheads?
4. What is meant by EOQ?
5. provide the expansion of FIFO and LIFO.
6. What is meant by job costing?
7. describe labour Turnover?
8. What is meant Idle Time?
9. What is Cost Accumulation?
10. What is meant by Abnormal Loss?
PART -B
ans All the Questions: five X five = 25
11. a describe Cost Accounting. How does it differ from Management
Accounting and Financial Accounting?
(Or)
b. elaborate the importance and scope of cost accounting?
12. a. Prepare stores Ledger Account Under FIFO method.
(Or)
b. Write the objectives of cost Accounting.
13. obtain out the value of stock under FIFO
Jan 2001
1 Opening stock: 400 units @ Rs 10 per unit
5 Purchase : 500 units @ Rs 11 per unit
6. problem : 600 units.
8. Purchase : 700 units @ Rs.12
10. Purchase : 300 units @ Rs.9
15. problem : 500 units
(Or)
b. Distinguish ranging from Cost Estimation and Cost Ascertainment. discuss
why both are important to a manufacturing concern.
14. a. The output of the worker ‘A’ is 60 units in a 40 hour week, guaranteed
time rate is Rs five per hour. Ordinary price rate is Rs two per unite. Show the
earnings of works ‘A’ under time rate and piece rate system.
(Or)
b. discuss the Economic Order volume
15. a. Marginal costing is a valuable aid for managerial decisions – explain.
(Or)
b. Sales Rs 1, 00,000 profits Rs 10,000 variable cost 70 % obtain out.
(i) P/V Ratio
(ii) Fixed cost
(iii) Sales needed to earn a profit of Rs 40,000.

Earning:   Approval pending.