IV Semester B.Com. Examination, April/May 2015
(Semester Scheme) (Freshers + Repeaters) (2013-14 and Onwards)
Paper – 4.4: COST ACCOUNTING
Time: 3 Hours
Max. Marks : 100
Instruction: Answers should be written completely either in English or
SECTION – A
Answer any ten sub-questions. Each sub-question carries two marks.
1. a) Define costing.
b) What do you mean by controllable costs ? Give example.
c) What is a purchase requisition ? To whom it is submitted ?
d) What are the objectives of Cost Accounting?
e) Name any four techniques of inventory control.
f) Define the term material control.
g) What is variable overheads ? Give two examples.
h) Name the methods of labour turnover.
1) How do you calculate bonus under
i) Halsey plan?
II) Rowan plan?
1) Give the meaning of Cost Apportionment.
k) Define Overheads.
1) What is meant by purely financial expenses ? Give examples.
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Answerany four questions. Each question carries eight marks.
2. Briefly state the differences between Cost Accounting and Financial Accounting.
3. From the following particulars prepare a statement of Cost and Profit.
Raw materials consumed
Machine hours worked
Machine hour rate
*2 per hour
20% on works cost
*2 per unit sold
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9000 units at 25 per unit
4. Following information is available with respect to a particular type of labour.
a) Monthly salary
i) Basic pay + 2,000
ii) DA 75% of Basic Pay
b) House Rent Allowance 400 per month.
c) Leave salary earned 3500
d) CCA 200 per month.
e) Interim relief 10% of Basic + DA
f) Employer’s contribution to PF 5% of Basic + DA
g) Employer’s contribution to ESI 2% of Basic + DA
h) Pro-rata expenses on amenities? 25 per month.
i) Number of working hours in a month 200 Hours.
Calculate the cost of Labour per day of 8 Hours.
5. Compute machine hour rate from the following data:
Cost of Machine
Estimated scrap value after the expiry of life (15 years) 5,000
Rent and rates for the shop per month
General lighting for the shop per month
Insurance premium for the machine per annum
Repairs and maintenance for the machine per annum 1000
Power consumption 10 units per hour
Rate of power per 100 units
Shop Supervisor’s salary per month
Estimated productive working hours 2000 hours p.a.
The machine occupies of the total area of the shop. The supervisor is expected
to devote 76 of his time for supervising this machine.
6. a) ABC Company Ltd, gives the following details about the material X. Monthly
consumption 200 units, Average cost per order 40. Average price per unit? 20,
Holding cost 24% per year.
b) From the following particulars calculate : nam mo banca
i) Reorder Level
ii) Minimum Level
Maximum consumption 150 units per day
Minimum consumption 50 units per day
Reorder period 25 – 30 days.
Answer any three of the following. Each question carries sixteen marks.
7. In respect of a factory the following figures have been obtained for the year
Cost of Materials
A work order has been executed and the following expenses have been incurred.
Assuming that in 2005, the rate of factory overheads has increased by 20%.
Distribution overheads have gone down by 10% and selling and administration
overheads have each gone up by 12%2%. At what price should the product be
sold so as to earn the same rate of profit on the selling price as in 2004.
Factory overheads is based on direct wages while all other overheads based on
8. The profit as per cost accounts is1,15,000 the following points are found out on
comparison between cost accounts and financial accounts.
Particulars Cost Accounts Financial Accounts
a) Opening stock:
b) Closing stock:
c) Directors fee paid ? 1,500 Reserve for bad debts ? 600 interest paid 1000.
Transfer fees received 800, Dividend received: 400 are exclusively taken
in financial accounts but ignored in cost accounts.
d) Rent charged in costing but not in FA5000.
e) Goodwill 5000 and preliminary expenses Rs. 2000 have been written off
during the year.
f) Overheads incurred Rs.50,600 but overheads absorbed amounted to 48,100.
Find out the profit as per financial accounts by preparing Reconciliation
9. The following purchases have been extracted in respect of material ‘ExE’. Prepare
Stores Ledger Account under LIFO Method of pricing of material issues.
units at 4 per unit
100 units at 4.20 per unit
units at 4.25 per unities
800 units at 4.30 per unit
850 units at 3.80 per unit
Issued 400 units
Issued 50 units
Issued 900 units
Issued 450 units
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