M. Com.(Semester II) (CBCS) Examination, 2017
ADVANCED ACCOUNTANCY-II wateriI
Day Date: Monday, 24-04-2017 Max. Marks: 70
Time: 10.30 AM to 01.00 PM
N.B. All question are compulsory
Figures to right indicate full marks
Q.1 Choose the correct alternative given in the bracket. 14
Efficient booking help to minimise idle time.
Time Wage Work Activity
Under plan a less efficient and efficient may get the
same amount of bonus
Halsey premium Rowan premium
Bonus Tailor premium
In 'numerical codes' method are allotted for each
item of overheads.
Alphabets Numbers
Pictures Signs
If the amount of defective or spoiled work is beyond the
normal limit it is treated as
Normal gain Normal loss
Abnormal loss Overhead loss
The profession of the cost Accounting has gained importance
when the Government of India framed cost Accounting
Record
1956 1959 1965 1968
Financial Accounting is meant for reporting, whereas
Cost Accounting is meant reporting.
External internal Managerial-administrative
Administrative-managerial Internal external
Milk used in dairy products is the example of
material.
Direct Indirect
Essential Secondary
Purchase control is an element of control.
Labour Expenditure
Material Indirect
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Under method simplicity and convenience are lost
when is too much change in the price of materials.
LIFO FIFO
Weighted average price Notional price
10) High remuneration attracts force.
Highest Efficient
Casual Temporary
11) 'Time keeping' is the recording of the of a worker.
Performance Attendance
Efficiency Job satisfaction
12) When idle time is caused by reasons it is treated as
abnormal idle time.
Available Unavailable
Suitable Considerable
13) When the workers are paid remuneration not on the basic of
time worked but on the basis of quality produced is known as
remuneration.
Time rate Daily rate
Quality rate Piece-rate
14) To maintain discipline and regularity in attendance is the
main objective of department.
Time-keeping Time-booking
Payroll Production
Q.2 Write short Notes 14
Classification of cost by elements.
Essential characteristics of a good incentive system.
Q.3 Write Short Answer: 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 by the
worker to complete the job is 80 hours. Calculate the total wages
of the worker on the basis of
Time Rate
Piece Rate
Halsey Plan
Rowan Plan
From the following data given by personnel department calculate
the labour turnover rate by applying Separation Method
Replacement Method 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.
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Q.4 Answer any one: 14
From the following details, you are required to compute a
comprehensive machine hour rate.
The original purchase price of the machine (subject to a
depreciation at 10% per annum on the original cost): Rs.
43,200
Normal working hours for the month: 200 hours (the
machine works only at 75% capacity).
Wages to machine man: Rs. 4 per day (of 8 hours).
Helper's wages: Rs. 2 per day of 8 hours.
Power consumption estimated at Rs. 150 per month for
the time worked.
Supervision charges apportioned for the machine centre: Rs.
300 per month
Electricity and lighting: Rs.75 per month.
Repair and maintenance (machine) including consumable
stores per month: Rs. 150.
Insurance of plant and building (apportioned) per annum:
Rs. 1000.
10) Other general expenses (overhead): Rs.2160 per annum.
11) Production bonus payable to worker in terms of an award:
of the basic wage and dearness allowance.
12) Workers are paid fixed dearness allowance of Rs.75 Per
month.
13) Add 10% of the basic wage and DA against leave wages
and holidays with pay to arrive at a comprehensive labour
wage for debit to production.
OR
From the following information calculate:
Reordering Level
Maximum Level
Minimum Level
Average stock Level
Danger Level
Lead Time: Average 10 days
maximum 15 days
minimum 6 days
maximum for emergency purchase 4 days
Rate of Consumption: average 15 units per day
maximum 20 unit per day
minimum 10 units per day
ordering Quantity: 200 units.
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Q.5 Answer any one: 14
Bit Ltd. Has two production departments P1 and P2 and three
service department S1, S2, and S3. The overheads of various
departments for a period are given below:
P1 Rs.53,000
P2 Rs.7,000
S1 Rs.17,000
S2 Rs.30,000
S3 Rs.13,000
The costs of service department are to be apportioned as follows:
P1 P2 S1 S2 S3
S1 50% 30% 20%
S2 30% 50% 10% 10%
S3 40% 60%
You are required to prepare overhead distribution Statement
accounting to Ladder Method.
OR
From the following particular relating to material shows haw
the value of the issues should be arrived at under FIFO method
and LIFO method.
01-01-2017 Opening stock 1000 unites at Rs. 5 each
03-01-2017 Purchase 900 unites 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 Purchase 200 units at Rs. 6 each
25-01-2017 Issued 600 units