University of Allahabad 2010 B.Com , (Part-II) , Cost Accounting - Question Paper

B.Com. (Part-II) Examination, 2010
(New Course)
Cost Accounting
Paper: Tenth
(Group D)
Time Allowed: 3 Hours] [Maximum Marks: 100

Note: There are 2 parts. Attempt all ques. from Part-'A' and attempt any 3 ques. from Part-'B'
Part-'A'
Note: Attempt all 8 ques.. ans in not more than 100 words. every ques. carries five marks.
1. What do you mean by factory cost?
2. A firm manufactures a single kind of product. For manufacture of the product five units of raw material are consumed. presume that the firm manufactures 10.000 units per year. Cost of placing an order is Rs.150 and carrying cost per unit is Rs. five per annum. You are needed to compute E.O.Q.
3. What is the purpose of an incentive wage plan?
4. Rohan furniture house manufactures stools, chair and tables. Total factory overheads for the month of November, 2008 were Rs. 50,000. you are needed to obtain out the amount of overheads chargeable to every product assuming that 1 table is equivalent to 4 stools and 1 chair is equivalent to 2 stools. The production during this month was 100 stools, 500 chairs and 125 tables.
5. What is meant by FIFO?
6. compute the Cost of material consumed-
Opening stock of material Rs. 24,000
Material purchased Rs. 1, 20,000
Carriage on material purchased Rs. 200
Defective material returned to supplier
at cost price. Rs. 2400
Closing stock of material Rs. 80000
Material sold Rs. 4000 (Cost price Rs. 3000).
7. What do you mean by 'cost plus contracts'?
8. Distinguish ranging from controllable and uncontrollable variance.

Part-'B'
Note: Attempt any 3 ques. in maximum 600 words. every ques. carries 20 marks.
9.Prepare a cost sheet from the subsequent particulars showing the cost per unit sold and profit:
Rs.
Materials 20,000
Direct wages 12,000
Machine hours worked 9.500
Machine hour rate Rs. 2
Office overhead 20% of works cost
Selling overheads 50 paisa per unit
Output 20,000 units
Units sold 18,000 @ Rs. five per unit.
10. On the basis of provided information, obtain out the profit as per Cost Accounts-
(i) Net profit as per financial accounts Rs. 1, 00,120.
(ii) Works overhead under recovered in Cost Accounts Rs. 4.000.
(iii) The administration expenses were under recorded in the financial accounts by Rs. 1500.
(iv) Depreciation charges were over recorded in the Cost Accounts by Rs. 1,000.
(v) The interest received on investments during the year amounted to Rs. 500.
(vi) The transfer fees amounting to Rs.120 were received during the year in connection with the registration of transfer of shares.
(vii) The provision for income- tax made in the financial accounts was Rs. 49,000.
11. In the course of manufacture of an article 'A'. a By- product 'B' is also produced. The By product has a commercial value. subsequent info have been found from the costing records of the factory –

Joint Expenses Separate Expenses
(Rs.) (Rs.)
'A' 'B'
Materials 20,000 2,500 1,000
Wages 10,000 3,500 500
Overheads 4,000 2,000 500

Total 34,000 8,000 2,000

Selling prices are: A= Rs.40,000, B= Rs.15,000
Assuming that the profit on 'A' and 'B' was estimated 20% on selling price, prepare necessary accounts for the products.
12. What is work-in-progress and how it is computed in contract account? discuss how this account will be shown in the Balance Sheet?
13. Write notes on:-
(i) Budgetary Control System
(ii) Methods of pricing of the problem of materials.

Earning:   Approval pending.