Solapur University Question Paper
M.Com. (Part – II) (Semester – IV) Examination, 2014
ADVANCED ACCOUNTANCY (Paper – III) (Group – a)
Day and Date : Thursday, 24-4-2014 Max. Marks : 50
Time : 3.00 p.m. to 5.00 p.m.
N.B. : 1) All questions are compulsory.
2) Figures to the right indicate full marks.
1. Choose the correct alternative from the given options : 10
1) Direct material is a ___________
a) Manufacturing cost b) Administrative cost
c) Selling and distribution cost d) Any of the above
2) Bad debt is an example of ___________
a) Production overheads b) Administration overhead
c) Selling overhead d) Distribution overhead
3) The total cost is generally divided according to their nature under the
___________ broad headings.
a) Two b) Three
c) Four d) Five
4) According to variability overheads are classified into ___________ groups.
a) Two b) Three
c) Four d) Five
5) Wages of clerical staff is the example of ___________
a) Office salary b) Indirect wages
c) Direct expenses d) Chargeable expenses
6) The separation method is useful for measurement of ___________
a) Material turnover b) Labour turnover
c) Issue of material d) Valuation of wastage
SLR-N – 67 -2-
7) Administration overheads are recorded as a percentage of ___________
a) Direct material b) Direct wages
c) Prime cost d) Works cost
8) Store keeper should initiate a purchase requisition when stock reaches
___________
a) Minimum level b) Maximum level
c) Re-order level d) Average level
9) Which of the flowing document is used for time keeping ?
a) Daily time sheet b) Time card
c) Job card d) All of these
10) Which of the following method of wage payment is most suitable where
quality and accuracy of work is of primary importance ?
2. A) Two components A and B are used as follows : 5
Normal usage : 50 units per week each
Minimum usage : 25 units per week each
Maximum usage : 75 units per week each
Re-order quantity : A : 300 units, B : 500 units
Re-order period : A : 4 to 6 weeks B : 2 to 4 weeks
Calculate for each component
a) Re-order level b) Minimum level
c) Maximum level d) Average level
B) Write a note on classification of cost. 5
3. A) From the following information find out the economic order quantity. 5
Annual demand : 18000 units
Ordering cost : Rs. 120 per unit
Inventory carrying cost per annum Rs. 20.
B) Write a note on labour turnover. 5
-3- SLR-N – 67
4. i) The following particulars have been extracted from the account of General
Motor Company for the year ended 31-3-2013. 10
Opening stock - Raw materials 1,00,000
Purchase of material 24,00,000
Carriage on Raw material 1,20,000
Wages of manual and machine labour for manufacturing
motor car 14,00,000
Works overhead expenses 3,92,000
Establishment and general charges 2,98,340
Closing stock of Raw material 1,50,000
Find out works cost and total cost of motor cars the percentage of works
overheads cost to wages and the percentage of establishment and general
charges to works cost.
Workout what price the company should quote for a car, which it is estimated,
will require on expenditure of Rs. 44,000 in raw materials and Rs. 32,000 in
wages so that it would yield profit at 25% on total cost.
OR
ii) XYZ Ltd. has purchased and issued the materials in the following order : 10
Jan. 2014 1 Purchased 300 units @ Rs. 5 per unit
4 Purchased 600 units @ Rs. 4 per unit
6 Issued 500 units
10 Purchased 700 units @ 5 per unit
15 Issued 800 units
20 Purchased 300 units @ Rs. 6 per unit
25 Issued 100 units.
Ascertain the quantity of closing as on 31st Jan. 2014, and state what will be
its value it issues are made under LIFO method.
5. i) Compute the earning of a worker under 10
a) Time Rate Method b) Piece Rate Method
c) Halsey Plan d) Rowan Plan
Information given : Wage rate Rs. 2 per hour
Dearness allowance Re. 1 per hour
Standard hours 80
Actual hours 50
OR
SLR-N – 67 -4-
ii) PH Ltd. is a manufacturing company having three production departments
A, B and C, two service departments X and Y. The following is the budget for
December 2013. 10
Particulars Total A B C X Y
Rs. Rs. Rs. Rs. Rs. Rs.
Direct material 1,000 2,000 4,000 2,000 1,000
Direct wages 5,000 2,000 8,000 1,000 2,000
Factory rent 4,000
Power 2,500
Depreciation 1,000
Other overheads 9,000
Additional information
area (Sq. ft) 500 250 500 250 500
Capital value
(Rs. lakhs) of assets 20 40 20 10 10
Machine hours 1,000 2,000 4,000 1,000 1,000
Horse power of machine 50 40 20 15 25
A technical assessment of the apportionment of expenses of service department
is as under :
A
%
B
%
C
%
D
X
%
Y
%
Service Department X 45 15 30 – 10
Service Departmnet Y 60 35 – 5 –
You are required to prepare :
1) A statement showing distribution of overheads to various departments.
2) A statement showing redistribution of service departments expenses to
production departments.
3) Machine hour rates of the production departments A, B and C.
_____________________
M.Com. (Part – II) (Semester – IV) Examination, 2014
ADVANCED ACCOUNTANCY (Paper – III) (Group – a)
Day and Date : Thursday, 24-4-2014 Max. Marks : 50
Time : 3.00 p.m. to 5.00 p.m.
N.B. : 1) All questions are compulsory.
2) Figures to the right indicate full marks.
1. Choose the correct alternative from the given options : 10
1) Direct material is a ___________
a) Manufacturing cost b) Administrative cost
c) Selling and distribution cost d) Any of the above
2) Bad debt is an example of ___________
a) Production overheads b) Administration overhead
c) Selling overhead d) Distribution overhead
3) The total cost is generally divided according to their nature under the
___________ broad headings.
a) Two b) Three
c) Four d) Five
4) According to variability overheads are classified into ___________ groups.
a) Two b) Three
c) Four d) Five
5) Wages of clerical staff is the example of ___________
a) Office salary b) Indirect wages
c) Direct expenses d) Chargeable expenses
6) The separation method is useful for measurement of ___________
a) Material turnover b) Labour turnover
c) Issue of material d) Valuation of wastage
SLR-N – 67 -2-
7) Administration overheads are recorded as a percentage of ___________
a) Direct material b) Direct wages
c) Prime cost d) Works cost
8) Store keeper should initiate a purchase requisition when stock reaches
___________
a) Minimum level b) Maximum level
c) Re-order level d) Average level
9) Which of the flowing document is used for time keeping ?
a) Daily time sheet b) Time card
c) Job card d) All of these
10) Which of the following method of wage payment is most suitable where
quality and accuracy of work is of primary importance ?
2. A) Two components A and B are used as follows : 5
Normal usage : 50 units per week each
Minimum usage : 25 units per week each
Maximum usage : 75 units per week each
Re-order quantity : A : 300 units, B : 500 units
Re-order period : A : 4 to 6 weeks B : 2 to 4 weeks
Calculate for each component
a) Re-order level b) Minimum level
c) Maximum level d) Average level
B) Write a note on classification of cost. 5
3. A) From the following information find out the economic order quantity. 5
Annual demand : 18000 units
Ordering cost : Rs. 120 per unit
Inventory carrying cost per annum Rs. 20.
B) Write a note on labour turnover. 5
-3- SLR-N – 67
4. i) The following particulars have been extracted from the account of General
Motor Company for the year ended 31-3-2013. 10
Opening stock - Raw materials 1,00,000
Purchase of material 24,00,000
Carriage on Raw material 1,20,000
Wages of manual and machine labour for manufacturing
motor car 14,00,000
Works overhead expenses 3,92,000
Establishment and general charges 2,98,340
Closing stock of Raw material 1,50,000
Find out works cost and total cost of motor cars the percentage of works
overheads cost to wages and the percentage of establishment and general
charges to works cost.
Workout what price the company should quote for a car, which it is estimated,
will require on expenditure of Rs. 44,000 in raw materials and Rs. 32,000 in
wages so that it would yield profit at 25% on total cost.
OR
ii) XYZ Ltd. has purchased and issued the materials in the following order : 10
Jan. 2014 1 Purchased 300 units @ Rs. 5 per unit
4 Purchased 600 units @ Rs. 4 per unit
6 Issued 500 units
10 Purchased 700 units @ 5 per unit
15 Issued 800 units
20 Purchased 300 units @ Rs. 6 per unit
25 Issued 100 units.
Ascertain the quantity of closing as on 31st Jan. 2014, and state what will be
its value it issues are made under LIFO method.
5. i) Compute the earning of a worker under 10
a) Time Rate Method b) Piece Rate Method
c) Halsey Plan d) Rowan Plan
Information given : Wage rate Rs. 2 per hour
Dearness allowance Re. 1 per hour
Standard hours 80
Actual hours 50
OR
SLR-N – 67 -4-
ii) PH Ltd. is a manufacturing company having three production departments
A, B and C, two service departments X and Y. The following is the budget for
December 2013. 10
Particulars Total A B C X Y
Rs. Rs. Rs. Rs. Rs. Rs.
Direct material 1,000 2,000 4,000 2,000 1,000
Direct wages 5,000 2,000 8,000 1,000 2,000
Factory rent 4,000
Power 2,500
Depreciation 1,000
Other overheads 9,000
Additional information
area (Sq. ft) 500 250 500 250 500
Capital value
(Rs. lakhs) of assets 20 40 20 10 10
Machine hours 1,000 2,000 4,000 1,000 1,000
Horse power of machine 50 40 20 15 25
A technical assessment of the apportionment of expenses of service department
is as under :
A
%
B
%
C
%
D
X
%
Y
%
Service Department X 45 15 30 – 10
Service Departmnet Y 60 35 – 5 –
You are required to prepare :
1) A statement showing distribution of overheads to various departments.
2) A statement showing redistribution of service departments expenses to
production departments.
3) Machine hour rates of the production departments A, B and C.
_____________________
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