Cost Accounting Question Paper 2023 [Dibrugarh University B.COM. 4th Sem Core]


Cost Accounting Question Paper 2023

Dibrugarh University B.COM. 4th Sem Core

COMMERCE (Core)

Paper: C-408

(Cost Accounting)

Full Marks: 80

Pass Marks: 32

Time: 3 hours

The figures in the margin indicate full marks for the questions

In this Post you will get Cost Accounting Question Paper 2023 [Dibrugarh University B.COM. 4th Sem Core]Past exam question papers will be very much usefull for upcoming exams.

1. (a) Fill in the blanks:         1 x 4 = 4

(1) A _______ is a device for the purpose of breaking up costs into smaller subdivisions.

(2) _______ level is the level above which stocks are not allowed to rise.

(3) Costs that contain both fixed and variable elements are known as _______ costs.

(4) Under Job Costing, each job or order is given a _______.

(b) Write True or False:        1 x 4 = 4

(1) Opportunity cost is the cost of opportunity lost.

(2) Labour turnover is harmful and costly.

(3) All direct costs are termed as overhead.

(4) In Contract Costing, materials purchased or supplied from the stores shall be credited to Contract A/c.

2. Write short notes on any four of the following:       4 x 4 = 16

(a) Elements of Costs.

(b) Economic Order Quantity.

(c) Piece-rate System.

(d) Machine Hour Rate.

(e) Batch Costing.

3. (a) “Cost Accounting has become an essential tool of management.” Explain the statement. What are its limitations?      8+6=14

Or

(b) From the following particulars, prepare a Cost Sheet for the month of January, 2023:         14

Rs.

Stock of raw materials on 1st January, 2023

Stock of raw materials on 31st January, 2023

Purchase of raw materials

Productive wages

Depreciation

Factory rent

Materials destroyed by fire

Office rent

General expenses

Selling overhead

Number of units produced during the month

30,000

45,000

2,80,000

63,000

20,000

18,000

2,000

48,000

6,000

15,000

4,000 units

Stock of finished goods on 1st January, 2023 was 2,000 units valued at Rs. 30,000.

Stock of finished goods on 31st January, 2023 was 500 units. Apply FIFO method.

4. (a) Two materials X and Y are used as follows:

Minimum usage – 50 units per week each

Maximum usage – 150 units per week each

Normal usage – 100 units per week each

X

Y

Ordering Quantity (units)

Delivery Period (weeks)

600

4 to 6

1,000

2 to 4

Calculate for each material:      3½ x 4 = 14

(1) Minimum Level.

(2) Maximum Level.

(3) Reordering Level.

(4) Average Stock Level.

Or

(b) Calculate normal and overtime wages payable to a workman on the basis of the following particulars:

Days

Hours Worked

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

9

8

10

11

9

5

Normal working hours are 8 hours per day and the normal rate of wages is Rs. 12.50 per hour. Overtime pay is at the under-mentioned rates:

Up to 9 hours in a day at single rate and over 9 hours in a day at double rate. Alternatively, up to 48 hours in a week at single rate and over 48 hours at double rate.

Which is more beneficial to the workman?       14

5. (a) What do you understand by over-absorption and under-absorption of overheads? What are the causes of under-absorption and over-absorption of overheads? How are they treated in Cost Accounts? 2+2+8+2=14

Or

(b) A manufacturing company has three production departments and two service departments. Overhead allocated for a year to these departments are as follows:

Production Dept.

(Rs.)

Service Dept.

(Rs.)

A

B

C

5,000

3,000

2,500

1

2

2,000

3,000

The following percentages are applicable for the apportionment of the costs of the services departments:

Dept.

A

B

C

1

2

1

2

40%

20%

30%

40%

10%

30%

10%

20%

Find out the total costs of production departments after apportionment of the costs of the service departments taking into consideration inter-departmental services.         14

6. (a) The following information relates to a building contract for Rs. 10,00,000:

2021-22

(Rs.)

2022-23

(Rs.)

Materials issued

Direct wages

Direct expenses

Indirect expenses

Work certified

Work uncertified

Materials at site

Plant issued

Cash received from contractor

3,00,000

2,30,000

22,000

6,000

7,50,000

8,000

5,000

14,000

6,00,000

84,000

1,05,000

10,000

1,400

10,00,000

7,000

2,000

10,00,000

Value of plant as on 31st March, 2022 was Rs. 7,000 and on 31st March, 2023 was Rs. 5,000

Prepare (1) Contract A/c and (2) Contractee’s A/c for the years 2021-22 and 2022-23 taking into consideration such profit for transfer to the Profit & Loss A/c as you think proper.      7+7=14

Or

(b) What is a Reconciliation Statement? Why is it necessary to reconcile the profit shown by the Cost Accounts and Financial Accounts? Under what circumstances such reconciliation be avoided?      3+7+4=14

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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