Exam Details

Subject cost accounting
Paper
Exam / Course b.b.a.
Department
Organization loyola college
Position
Exam Date November, 2017
City, State tamil nadu, chennai


Question Paper

1
LOYOLA COLLEGE (AUTONOMOUS), CHENNAI 600 034
B.B.A. DEGREE EXAMINATION BUSINESS ADMINISTRATION
THIRD SEMESTER NOVEMBER 2017
16UBU3MC01 COST ACCOUNTING
Date: 04-11-2017 Dept. No. Max. 100 Marks
Time: 09:00-12:00
PART A
ANSWER ALL QUESTIONS: MARKS)
1. Define Cost Accounting.
2. Mention any four advantages of Cost Accounting to the Management.
3. What is Material Cost?
4. Define Overhead.
5. What is Bincard?
6. Mention the elements of Cost.
7. Calculate Machine hour rate, when the factory overhead is `48,000 and machine hours is 20,000.
8. Calculate the Cost of Material Consumed, when opening stock of material is purchase of
material is `52,000 and closing stock of material is `6,000.
9. Given Factory Overhead and Direct Material are `3,00,000 and `5,00,000 respectively. Calculate
Direct Material percentage rate.
10. Calculate the economic batch quantity for a product using batch costing from the following details:
Annual demand for the product 2,000 units
Set up cost per batch `10
Cost of carrying inventory per unit Re. 1
PART B
ANSWER ANY FOUR QUESTIONS: MARKS)
11. Distinguish between Financial Accounting and Cost Accounting.
12. From the following information prepare a Cost Sheet for the month of Dec. 1985.
Particulars
Stock on hand 1st Dec.1985 Raw Materials 25,000
Finished Goods 17,300
Stock on hand 31st Dec. 1985 Raw Materials 26,200
Finished Goods 15,700
Purchase of raw materials 21,900
Carriage on purchases 1,100
Work in progress 1.12.1985 at works cost 8,200
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Work in progress 31.12.1985 at works cost 9,100
Sale of finished goods 72,300
Direct wages 17,200
Non -productive wages 800
Direct expenses 1,200
Factory overhead 8,300
Administrative overheads 3,200
Selling and distribution overheads 4,200
13. Mr. A worker in a factory is paid on time basis. During the month of October 1999 he has worked for
200 hours. His hourly wage rate is `10 per hour. Mr. B another employee of the company is paid on
the basis of piece wages. During the month of January 1999 his output was 1,000 units. Rate of
wages per piece is `3. Calculate the wages of respective workers for the month of October 1999.
14. Discuss the General principles of Cost Accounting.
15. Explain the requisites of a Good Costing System.
16. Prepare a Cost Sheet from the following data:
Particulars
Direct material consumed 50,000
Direct wages paid 40,000
Chargeable expenses 10,000
Indirect materials:
Used in factory 8,000
Used in office 12,000
Used in selling 6,000
Used in distribution 4,000 30,000
Indirect labour:
In factory 15,000
In office 20,000
In selling 18,000
In distribution 12,000 65,000
Indirect expenses
Relating to factory 6,000
3
Relating to office 3,000
Relating to selling 1,000 10,000
17. From the following particulars, prepare stores ledger by adopting simple average method of pricing
of material issues.
Date Receipts Issues
1990 Jan. 1 300 units at `10 per unit
10 200 units at `12 per unit
12 400 units at `11 per unit
15 250 units
16 150 units
18 200 units at `14 per unit
20 300 units
22 300 units at `15 per unit
25 100 units at `16 per unit
27 200 units
31 100 units
PART C
ANSWER ANY TWO QUESTIONS: MARKS)
18. Explain the Classifications of Cost.
19. The cost of manufacturing 5,000 units of a commodity comprises:
a. Materials `20,000
b. Wages `25,000
c. Chargeable expenses `400
d. Fixed factory overheads `16,000
e. Variable factory overheads `4,000
For manufacturing every 1,000 extra units of the commodity the cost of production increases as
follows:
a. Materials proportionately
b. Wages 10% less than proportionately
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c. Chargeable expenses no extra cost
d. Fixed overheads `200 extra
e. Variable overheads 25% less than proportionately
Calculate the estimated costs of producing 8,000 units of the commodity and show by how much
it would differ if a flat rate of factory overhead based on wages were charged.
20. From the particulars given below write up the stores ledger card:
1998 January 1 opening stock 1,000 units at `26 each
5 Purchased 500units at `24.50 each
7 Issued 750 units
10 Purchased 1,500 units at `24 each
12 Issued 1,100 units
15 Purchased 1,000 units at `25 each
17 Issued 500 units
18 Issued 300 units
25 Purchased 1,500 units at `26 each
29 Issued 1,500 units
Adopt the FIFO method of issue and ascertain the value of the closing stock.
21. A manufacturing concern has three production departments and two service departments. In july
1990, the departmental expenses were as follows:
Production Departments
A 16,000
B 13,000
C 14,000
Service Departments
X 4,000
Y 6,000
The service department expenses are charged out on a percentage basis, viz,
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A B C X Y
Expenses of department x 20% 25% 35% 20%
Expenses of department y 25% 25% 40% 10%
Prepare a statement of secondary distribution under repeated distribution method.



Subjects

  • accounting for decision making
  • business & society
  • business environment
  • business ethics and csr
  • business management
  • business policy & strategy
  • company accounts
  • company law & sec. practice
  • consumer behaviour
  • corporate accounting
  • cost accounting
  • elements of company law
  • elements of operations research
  • elements of statistics
  • entrepreneurship
  • financial accounting
  • financial institutions
  • financial management
  • financial services
  • finiancial accounting package using tally
  • fundamentals of investments
  • human resource management
  • indirect tax
  • industrial relations
  • international business management
  • international marketing
  • introduction to investment
  • introduction to statistics
  • labour laws
  • legal aspects of business
  • logistics & supply chain management
  • management accounting
  • management information system
  • mercantile law
  • principles of marketing
  • product brand and service management
  • production management
  • project management
  • retail management
  • rural marketing
  • strategic management
  • supply chain management
  • working capital management