B.Sc. I (Entrepreneurship) (Semester II) (CBCS) Examination, 2018
entrepreneurship science (Paper II)
Cost Accounting and Project Management
Day and Date Tuesday, 20-11-2018 Total Marks 70
Time 10.30 a.m. to 1.00 p.m.
1. Choose the correct answer from given alternative 14
The total of all direct expenses is known as cost.
Prime cost Factory cost
Selling cost Product cost
A building construction concerns employs
Process costing Contract costing
Job costing Factory cost
Aggregate of prime cost and factory overheads is
Cost of goods sold Factory cost
Selling cost Cost of production
Carriage outward is an item of
Prime cost
Factory cost
Selling and distribution overheads
Office and administration overheads
Calculate the prime cost from the following information
Opening stock of raw material Rs. 50,000
Material purchased Rs. 1,00,000
Closing stock of raw material Rs. 60,000
Direct labour Rs. 70,000
Rs. 1,50,000 Rs. 1,60,000
Rs. 2,80,000 Rs. 2,10,000
Set P
SLR-SK 13 *SLRSK13*
Set P
Material purchased Opening stock of raw material Closing stock of raw
material
Prime cost Material consumed
Works cost Cost of product
Indirect material Indirect labour Indirect expenses
Prime cost Overheads Total cost Selling price
From the following method is not used where there is only
one process or operation.
Unit or output costing Operation costing
Process costing Job costing
Small Scale Industry is a manufacturing enterprise in which investment in
plant and machineries does not exceed Rs. only.
1 crore 5 crores 10 crores 20 crores
10) Medium Scale Industry is a manufacturing enterprise in which investment
in plant and machineries does not exceed Rs. only.
5 crores 10 crores
20 crores 50 crores
11) Project is a activity.
Continuous One-time
Two-time All the above
12) SSIs denotes for
Services Sector Industry Secondary Service Industry
Small Scale Industry None of the above
13) MSMEs Act was passed in year
2006 2007 2008 2009
14) is a document that describes a business project and steps a
team should take to complete it.
Budget Project plan
Project report All the above
*SLRSK13* SLR-SK 13
Set P
2. Solve any seven from the following 14
Long form of MSMEs.
What is costing
What is management accounting
What is cost sheet
What is farm costing
Define tiny industry.
Define process costing with an example.
Process of project management.
Examples of small scale industries.
3. Write note on any two from the following 10
Difference between cost accounting and management accounting.
Importance of cost accounting.
Relation between small and large scale industry.
Briefly explain characteristics of small scale industries 4
4. Write in brief answer from the following (any two) 14
What is cost Explain its types.
Problems of Small Scale Industries.
What is project report Explain contents.
5. Write in brief from the following (any two) 14
Explain types of cost.
Objectives and scope of small scale industries.
From the following particulars calculate
Prime cost Factory cost
Cost of goods sold Profit
Rs.
Opening stock of raw materials 61,000
Opening stock of finished goods 40,800
Closing stock of raw materials 97,000
Closing stock of finished goods 20,000
Purchase of raw material 50,000
Opening stock of work in process 16,000
Closing stock of work in process 18,000
Sales during the year 1,90,000
Direct Wages 40,800
Factory expenses 21,000
Office expenses 11,000
Selling expenses 7,600
Distribution expenses 5,000