Question Paper University : Allahabad University
Year of Question Paper : 2009
Question Paper Title : Cost Accounting
Study Materials Type : Previous Years Question Papers Collections, Sample Question Papers and Model Question Papers
Part-'A'
Note : Attempt all eight questions. Answer in not more than 100 words. Each question carries 5 marks.
1. Discuss the objective of cost accounting?
2. What is Bin Card?
3. What are the types of Job-Cards?
4. Explain ABC analysis of material control?
5. Compute E.O.Q from the following:
Annual Demand = 5000 Units
Unit Price = Rs. 20
Order Cost = Rs. 16 per order
Storage Rate = 2% per annual
Interest Rate = 12% per annual
Obsolescence Rate = 6% per annual
6. Differentiate between normal loss abnormal loss?
7. Discuss Cost Plus Contracts?
8. Explain the importance of sales budget?
Part-'B'
Note : Attempt any three questions in maximum 600 words. Each question carries 20 marks.
9. At the end of the year, a Contract Account stands debited with the cost of materials issued, abour and overheads and plant issued, it stands credited with materials at sight, Rs. 2,000 and plant at site revalued at Rs. 8,000 after charging depreciation at 20%. The net cost of contract is Rs. 30,000. The materials, lobour and overheads debited to the Contract account are in the ratio of 3:2:1.
The Contract price is Rs. 50,000. Fopurth-fifth of the Contract has been certified by the contractee's architect as completed, a month before at the end of the year and 80% of the certified work has been received in cash. The accountant informs that 2/3rd of the profit on cash basis credited to profit and loss account on this Contract is Rs. 8,000.
Prepare in full the Contract Account showing the cost of work done but uncertified and the work-in-progress Account from the above information.
10. On the basis of following information, calculate the account of profit according to profit and
loss account-
(a) The profit according to cost accounts was Rs. 1,50,300.
(b) Factory overhead according to cost accounts was under-recovered by Rs. 4,000.
(c) Administration expenses were under-recovered in financial accounts by Rs. 1,500.
(d) Depreciation in cost accounts was over-recorded by Rs .950.
(e) During the year a interest of Rs. 495 on investments was received.
(f) Transfer fees of Rs. 120 in connection with the registration of transfer of shares was
received.
(g) Income-tax of Rs. 48,500 was provided in financial accounts.
11. The Standard Cost of a chemical mixture is as under-
40 Tons of Material X @ Rs. 100 per ton.
60 Tons of Material Y @ Rs. 150 per ton.
Standard loss 10%
Actual cost for a period is as under:
45 Tons of Material X @ Rs. 80 per ton.
55 Tons of Material Y @ Rs. 170 per ton.
Actual yield is 91 tons
Compute material variances.
12. Discuss the different bases on which factory overheads can be apportioned. describe the merits
and suitability of each of them.
13. Write short notes on-
(i) Methods of allocating Joint Costs of Joints Products.
(ii)Advantages and disadvantages of Budgetary Control.
Year of Question Paper : 2009
Question Paper Title : Cost Accounting
Study Materials Type : Previous Years Question Papers Collections, Sample Question Papers and Model Question Papers
Cost Accounting
Paper ; Seventh
(Group D)
Time Allowed : Three Hours] [Maximum Marks : 100
Note : There are two parts. Attempt all questions from Part-A and attempt any three questions from
part-B.
Part-'A'
Note : Attempt all eight questions. Answer in not more than 100 words. Each question carries 5 marks.
1. Discuss the objective of cost accounting?
2. What is Bin Card?
3. What are the types of Job-Cards?
4. Explain ABC analysis of material control?
5. Compute E.O.Q from the following:
Annual Demand = 5000 Units
Unit Price = Rs. 20
Order Cost = Rs. 16 per order
Storage Rate = 2% per annual
Interest Rate = 12% per annual
Obsolescence Rate = 6% per annual
6. Differentiate between normal loss abnormal loss?
7. Discuss Cost Plus Contracts?
8. Explain the importance of sales budget?
Part-'B'
Note : Attempt any three questions in maximum 600 words. Each question carries 20 marks.
9. At the end of the year, a Contract Account stands debited with the cost of materials issued, abour and overheads and plant issued, it stands credited with materials at sight, Rs. 2,000 and plant at site revalued at Rs. 8,000 after charging depreciation at 20%. The net cost of contract is Rs. 30,000. The materials, lobour and overheads debited to the Contract account are in the ratio of 3:2:1.
The Contract price is Rs. 50,000. Fopurth-fifth of the Contract has been certified by the contractee's architect as completed, a month before at the end of the year and 80% of the certified work has been received in cash. The accountant informs that 2/3rd of the profit on cash basis credited to profit and loss account on this Contract is Rs. 8,000.
Prepare in full the Contract Account showing the cost of work done but uncertified and the work-in-progress Account from the above information.
10. On the basis of following information, calculate the account of profit according to profit and
loss account-
(a) The profit according to cost accounts was Rs. 1,50,300.
(b) Factory overhead according to cost accounts was under-recovered by Rs. 4,000.
(c) Administration expenses were under-recovered in financial accounts by Rs. 1,500.
(d) Depreciation in cost accounts was over-recorded by Rs .950.
(e) During the year a interest of Rs. 495 on investments was received.
(f) Transfer fees of Rs. 120 in connection with the registration of transfer of shares was
received.
(g) Income-tax of Rs. 48,500 was provided in financial accounts.
11. The Standard Cost of a chemical mixture is as under-
40 Tons of Material X @ Rs. 100 per ton.
60 Tons of Material Y @ Rs. 150 per ton.
Standard loss 10%
Actual cost for a period is as under:
45 Tons of Material X @ Rs. 80 per ton.
55 Tons of Material Y @ Rs. 170 per ton.
Actual yield is 91 tons
Compute material variances.
12. Discuss the different bases on which factory overheads can be apportioned. describe the merits
and suitability of each of them.
13. Write short notes on-
(i) Methods of allocating Joint Costs of Joints Products.
(ii)Advantages and disadvantages of Budgetary Control.
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