M.Com. (Semester II) (CBCS) Examination Nov/Dec-2018
ADVANCED ACCOUNTANCY II
Time: 2½ Hours Max. Marks: 70
Instructions: All questions are compulsory.
Figures to the right indicate full marks.
Q.1 Choose the correct alternatives: 14
as a production or service location, function, activity or item of
equipment whose costs may be attributed to cost units.
Cost sheet Cost unit
Cost center None of the above
are those materials which can be conveniently identified with and
can be directly allocated to particular job or process.
Direct materials Indirect materials
Direct labor None of the above
costs are those costs which do not vary with the change in the
volume of production up to given range.
Variable Fixed
Semi variable All the above
quantity is the quantity for which order is placed when the stock
reaches reorder level.
Fixed Variable
Re-order Maximum
costs refer to the costs incurred for acquiring inputs.
Ordering Carrying cost
Fixed Variable
There is an relationship between order size and ordering cost.
Positive Negative
Fixed Inverse
stock level is that level of stock above which the stock in hand
should not normally be allowed to exceed.
Minimum Maximum
Average Danger
Minimum Stock level -(normal rate of consumption x Normal
Re-order period)
Re-order level Re-order quantity
Danger level None of the above
In FIFO method goods received first are issued
Last First
After year end Month ending
10) study is a technique which involves close observation of the
movements of body and limbs required to perform a job.
Time keeping Time booking
Motion study Time study
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11) As per Emerson plan, in case of efficiency above 100% bonus of
of basic wages.
10% 20%
30% 40%
12) When the workers are paid remuneration not on the basis of time worked
but on the basis of quantity produced is known as remuneration.
Time rate Daily rate
Quality rate Piece rate
13) Milk used in dairy products is the example of material.
direct indirect
essential secondary
14) is the recording of the attendance of worker.
Booking keeping Time keeping
Bin card All the above
Q.2 Write short note any two of the following: 14
Classification of cost by elements
LIFO method
Q.3 Answer the following: 14
The standard time allowed to complete a job is 100 hours and the hourly
rate of wages payment is Rs. 10. The actual time taken by the worker to
complete the job is 80 hours. Calculate the total wages of the worker on
the basis of:
Time Rate
ii) Piece Rate
iii) Halsey Plan
iv) Rowan Plan
From the following data given by personnel department calculate the
labour turnover rate by applying
Separation Method
ii) Replacement Method
iii) Flux Method
No. of workers on the pay-roll;
At the beginning of the month: 900
At the end of the month: 1100
During the month 10 worker left, 40 persons were discharged and 150
workers were recruited, of these, 25 workers are recruited in the vacancies
those leaving, while the rest engaged for an expansion scheme.
Q.4 Answer any one of the following questions: 14
From the following information, prepare statement of cost and profit per
unit.
Particulars Rs.
Direct Material 45000
Direct labour 1/3 of direct material cost
Direct Exp. 20% of direct material and direct labour
Factory overheads 1/9th of prime cost
Office administrative Exp. 25% of work cost
Selling Distribution Exp. 10% of cost of goods sold
Units Produced 100
Units remain unsold 10% of unit produced
Profit 1/6th of sales
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From the following information calculate:
Re-order level
ii) Minimum level
iii) Maximum level
iv) Average stock level
Danger level
Rate of consumption: Minimum 250 kg per week
Maximum 750 kg per week
Normal 400 kg per week
Re-order period: Minimum 3 weeks
Maximum 7 weeks
Normal 4 weeks
For emergency purchase 2 weeks
Re-order quantity: 2000 kg
Q.5 Answer any one of the following questions: 14
From the following particular relating to material shows how the value of
the issues should be arrived at under FIFO method and LIFO method.
01-01-2017 Opening stock 1000 units at Rs. 5 each
03-01-2017 Purchased 900 units at Rs. 6 each
10-01-2017 Issued 1200 units
12-01-2017 Purchased 800 units at Rs. 6 each
16-01-2017 Purchased 300 units at Rs. 6 each
18-01-2017 Issued 400 units
20-01-2017 Issued 600 units
21-01-2017 Purchased 200 units at Rs. 6 each
25-01-2017 Issued 600 units
The following information relates to the production department for ascertain
period in factory.
Particulars Rs.
Direct materials 75,000
Direct wages 50,000
Production overheads 1,50,000
Labour hours 30000 hrs
Machine hours 25000 hrs
For one order No. 101 carried out in the department during period, the
relevant data were
Particulars Rs.
Direct materials 14,000
Direct wages 11,000
Labour hours worked 5000 hrs
Machine hours worked 7000 hrs
Prepare a comparative statement of cost of this order by using the
following methods.
Direct Material Cost Percentage
ii) Direct Labour Cost Percentage
iii) Prime Cost Percentage
iv) Labour Hours Rate
Machine Hour Rate