M. Com.(Semester II) (CBCS) Examination Oct/Nov-2017
ADVANCED ACCOUNTANCY-II
WateriI
Day Date: Wednesday, 22-11-2017 Max. Marks: 70
Time: 10.30 AM to 01.00 PM
Instructions: All question are compulsory
Figures to right indicate full marks
Q.1 Choose the correct alternative given in the bracket. 14
Under plan past performance is taken as the guidance for
determining the standard time for each job.
Rowan premium Halsey premium
Tailor premium Incentive premium
„Overheads‟ are also known as costs.
„Supplementary‟ „Direct‟
„prime‟ „fixed‟
"Wages of coolies employed for carrying and loading and unloading material
of finished products" is expenses.
Direct labour Indirect labour
Indirect materials Indirect expenses
Distribution of overheads of service departments to production department is
called of overheads.
Primary distribution Secondary distribution
Allocation Classification
Carriage on purchases is a part of direct cost.
Labour Material
Overhead Normal
Bin Card is maintained by the
Planning department Store Keeper
Cost accountant Production
Value of closing stock under method can be well accepted for the
purpose of preparation of balance sheet.
Weighted average price LIFO
FIFO Actual price
EOQ model is based on assumption of
Linearity Safety
Abnormity Security
Disbursement of wages is the labour function of department.
Time keeping Time booking
Payroll Store
10) The duty of a is to issue correct materials against the authorized
store requisition.
Supervisor Material manager
Works manager Storekeeper
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11) Recorder point is lower than the levels to avoid excess stock.
Minimum Maximum
Danger Stock
12) Under piece rate system, there is always of income.
Fixed rate Uncertainty
Certainty No change
13) Indirect labour costs are not with the production of specific
goods or services.
Identifiable Negotiate
Recorded Allocated
14) Efficient time booking helps to minimize
Working time Total time
Idle time Time given
Q.2 Write short Notes 14
Essential feature of goods cost accounting system.
Advantage of material control.
Q.3 Answer the following. 14
From the following particular, work out the earning for the week of a
worker under.
Straight Piece Rate
Halsey Premium System
Rowan System
Number of working hours per week 48
Wages per hour Rs. 3.75
Rate per Piece 1.50
Normal time per piece 20 minute
Normal output per week 120 piece
Actual output for the week 150 piece
From the following data provided to you, find out the labour turnover rate
by applying.
Flux Method
Replacement Method
Separation Method
No. of workers on the pay-roll:
At the beginning of the month: 1000
At the end of the month: 1,200
During the month 10 worker left, 40 persons were discharged and 150
workers were recruited, of these, 20 workers are recruited in the vacancies
those leaving, while the rest engaged for an expansion scheme.
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Q.4 Answer any one: 14
Citizen Ltd. has three production departments and four services. The
expenses for department as per primary distribution summary are as
follows:
Production Department Rs. Rs.
A 60,000
B 52,000
C 48,000 1,60,000
Services Department Rs. Rs.
Stores 8,000
Time keeping and Account 6,000
Power 3,200
Canteen 2,000 19,200
The following information is also available in respect of the production
departments:
Dept. A Dept. B Dept. C
Horse power of Machine 300 300 200
Number of workers 20 15 15
Value of stores requisition 2500 1500 1000
You are required to apportion the costs of services department over
the production department.
OR
The following particular are furnished by Casio Ltd. Cochin for 12 month
ends 31-03-2017
Month in 2016-2017 Budget Consumption in units
April 300
May 400
June 500
July 600
August 800
September 1000
October 1000
November 900
December 800
January 700
February 600
March 800
Total Yearly Consumption 8400
Delivery period 2 to 4 months
Reorder Quantity 1000 units
Calculate
Reorder Level
Maximum Level
Minimum Level
Averages Stock Level using reorder quantity.
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Q.5 Answer any one: 14
Xerox Ltd provides the following stores for the March 2017:
March
1 Opening Balance 200 unit value Rs.2,000
4 Receipts form Balaji Co. GRN No. 11 300 unit Rs. 12 per unit
7 Issues Req. No. 101 400 unit
10 Receipts from Mohan Co.GRN No. 12 400 unit Rs.14 per unit
19 Issues Red. No. 102 300 units
22 Receipts from National Co. GRN No. 13 200 units Rs. 16 per units
28 Issues Req. No. 103 300 units
30 Shortage in stock taking 20 units
You are required to prepare the store ledger using FIFO Method and LIFO
Method.
OR
From the under data, calculate the machine hour rate of a mailing
machine.
Cost of the machine Rs.30500
Scrap value: Rs. 2500
Estimated life of the machine: 12 years
Working days per year: 200 days of 8 hours, and 100 days of 6 hours
Maintenance and repair 7.5% of the cost machine
Stores issued Rs. 1000
Power consumption Rs. 2 per operative hour
Insurance premium: of cost of the machine
Supervision expenses per year Rs.7500
10) Idle time estimated 10%