Cost Accounting Question Paper 2023 [Dibrugarh University BCOM 4th Sem Hons Core and Regular]

Cost Accounting Question Paper 2023

Dibrugarh University BCOM 4th Sem Hons Core and Regular

(Honours Core / Regular)

Paper: COM – HC – 4016 / COM – RC – 4026

(Cost Accounting)

Full Marks: 80

Time: Three hours

The figures in the margin indicate full marks for the questions.

Answer either in English or in Assamese

In this Post you will get Cost Accounting Question Paper 2023 Dibrugarh University BCOM 4th Sem Hons Core and RegularPast exam question papers will be very much usefull for upcoming exams.

1. Answer the following as directed:                       1 x 10 = 10

(a) Cost Accounting is a method of _______ cost. (Fill in the blank with appropriate word)

(b) A _______ cost is an irrecoverable cost. (Fill in the blank with appropriate word)

(c) Indirect labour is created as part of _______.

(i) finished goods.

(ii) work-in-progress.

(iii) factory overhead.

(iv) product. (Select the correct answer)

(d) Material is the first element of cost. (State whether the statement is true or false)

(e) _______ method of valuing material issues is suitable in the times of falling price. (Fill in the blank with appropriate word).

(f) Bin card is a part of accounting record. (State whether the statement is true or false)

(g) Which of the following is not a part of time-keeping?

(i) Punch card.

(ii) Job card.

(iii) Attendance register.

(iv) None of the above. (Select the correct answer)

(h) Depreciation is a semi-variable expenses. (State whether the statement is true or false)

(i) What is process costing?

(j) Write the measuring of ‘relevant cost’ in costing accounting.

2. Answer the following questions:         2 x 5 = 10

(a) What is the concept of cost?

(b) State the meaning of motion study in labour costing.

(c) State the important features of process costing.

(d) What is operating costing?

(e) Name from the following the method of costing and cost unit for:

(i) Aircraft.

(ii) Transport.

3. Answer any four of the following questions:        5 x 4 = 20

(a) Mention five objectives of cost accounting.

(b) A consignment of sugar was received by Murli Brothers. The Invoice reveals the following data:

Quantity

Rate per kg

GST

Freight

600 kg

Rs. 25

@ 12%

Rs. 2,130

After receiving the consignment, it was noticed that there is a shortage of 300 kgs. What stock rate would you adopt for the product assuming a provision of 5% towards further deterioration?

(c) What is ‘payment by result’ method of labour remuneration? Mention two advantages and two disadvantages of this system.        1+(2+2)=5

(d) The following data pertain to a material ‘J’:

Supply period

Consumption Rate:

Maximum:

Minimum:

Normal:

Yearly:

4 to 8 months

1,200 units per month

600 units per month

900 units per month

10,800 units

Storage costs are 50% of stock value.

Ordering costs are Rs. 400 per order.

Price per unit of material Rs. 100

Compute the minimum stock level.

(e) Explain the five resources of abnormal idle time of labour cost.

(f) How is abnormal gain calculated and treated in process costing?      2+3=5

4. Answer any four of the following questions: 10 x 4 = 40

(a) What are the various costs classified under functional classification? Give a brief description of each of these costs.

(b) Assam Manufacturing Company uses copper wire which is purchased from the market as and when necessary. Following purchases and issues were made during the month of January, 2023:

January 1:

January 3:

January 7:

January 11:

January 18:

January 24:

January 28:

Opening balance 300 kgs at Rs. 50/kg.

Purchased 500 kgs at Rs. 52/kg.

Issued 220 kgs.

Issued 440 kgs.

Purchased 490 kgs at Rs. 46/kg.

Issued 300 kgs.

Surplus 20 kgs returned to store out of quantity issued on 7th January.

Prepare Stores Ledger A/c for the above transaction according to FIFO method of pricing issue of materials.

(c) During the first week of January 2023, the workman Mr. Santosh produces 150 articles. He received wages for a guaranteed 48 hours a week @ Rs. 50 per hour. The estimated time to produce one article is 20 minutes and under incentive scheme the allowed is increased by 20%. Calculate his gross wages according to –

(i) Piece works with guaranteed weekly wages;

(ii) Rowan premium bonus plan;

(iii) Halsey premium bonus plan.

(d) Explain ‘under-absorption’ and ‘over absorption’ of overheads. What are the causes for under and over absorption of overheads?       (2+2)+6=10

(e) A firm of building constructors began to trade on 1st April, 2022. Following was the expenditure on a contract for Rs. 9,00,000.

Material issued

Plant issued

Wages incurred

Other expenses incurred

Rs. 1,44,000

Rs. 30,000

Rs. 1,48,000

Rs. 30,000

Cash received on account of 31st March, 2023 amounted to Rs. 4,00,000, being 80% of the work certified. Of the Plant and Materials charged to contract. Plant which cost Rs. 6,000 and Materials which cost Rs. 5,000 were lost. On 31st March, 2023 Plant cost Rs. 4,000 was returned to stores, the cost of work done but uncertified was Rs. 20,000 and materials costing Rs. 4,600 were in hand on site.

Charged 15% depreciation on plant and prepare Contract Account.

(f) Briefly describe the need for and procedure for integration of Cost Accounting and Financial Accounting.    5+5=10

(g) (i) What is allocation and apportionment of overheads?

(ii) A company has four departments. The actual costs for the periods are given below. Apportion the cost to the various departments by using the most equitable method –      2+8=10

(Rs.)

Rent

Depreciation

Supervision

Employer’s Liability Insurance

Insurance

5,000

4,800

9,000

900

3,000

The following data are also available in respect of four departments:

Particulars

A

B

C

D

Area (sq. feet)

50

40

30

30

Number of Workers

24

16

12

8

Value of Plant (in Rs.)

12,000

9,000

6,000

3,000

Total Wages (Rs.)

4,000

3,000

2,000

1,000

Value of Stock (Rs.)

15,000

9,000

6,000

(h) A manufacturing company disclosed a net loss of Rs. 2,91,000 as per their cost accounts for the year ended on March 31st, 2023. The following information was revealed as a result of scrutiny of the figures of both the sets of books:

(Rs.)

Factory overhead over absorbed

Administrative overhead under absorbed

Depreciation charged in financial accounts

Depreciation charged in cost accounts

Income tax provided

Interest on loans fund in financial accounts

Interest on investments not included in cost accounts

Transfer fees (Credit in financial books)

Stores adjustment (Credit in financial books)

8,000

12,000

1,10,000

1,22,000

75,000

1,34,000

32,000

8,000

4,000

Prepare a Reconciliation Statement from the above information.

This is all about Cost Accounting Question Paper 2023. For BCOM Notes you can follow our official website or can download our mobile application.

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