BASICS OF COST ACCOUNTING,University Of Pune Question Paper,B. B. A. ( Semester - II ),2013 Question Paper

University Of Pune Question Paper
B. B. A. ( Semester - II ) Examination - 2013
BASICS OF COST ACCOUNTING
(New 2008 Pattern)
Time : 3 Hours] [Max. Marks : 80
Instructions :
(1) All questions are compulsory.
(2) Figures to the right indicate full marks.
(3) Use of calculator is allowed.
Q.1) (A) Fill in the blanks : (Any Five) [05]
(a) Cost Accounting System is evolved from _________.
(b) _________ changes according to the changes in the output.
(c) The Prime Cost includes all _________ Costs.
(d) Overheads are also termed as _________.
(e) In Construction Industries _________ Costing Method is
used.
(f) At B.E.P. Fixed Cost is equal to _________.
(B) State which are the following statements are true or false :
(Any Five) [05]
(a) Cost Accounting is historic in nature.
(b) Salesman’s Salary is a part of Office or Administrative
Overheads.
(c) At B.E.P there is profit more than Fixed Cost.
(d) Production Budget is prepared by the Sales Department.
(e) Marginal Costing deals with the Fixed Costs.
(f) Operating Costing Method is used in Construction
Companies.
[4372]-204 1 P.T.O.
Seat
No.
Q.2) Define the terms Financial Accounting and Cost Accounting. What are
the limitations of Financial Accounting ? [15]
OR
Q.2) Define the term ‘Cost’. Explain the classification of cost according
the variability of controllability. [15]
Q.3) Write short notes : (Any Three) [15]
(a) Any two advantages of Cost Accounting
(b) Sales Budget
(c) Objectives of Marginal Costing
(d) Normal and Abnormal Loss
(e) Variance Analysis
Q.4) Pranav Industries has supplied you the following information for the
month January, 2012 :
Particulars Rs.
Materials (Raw) purchased 25,900
Stock of Materials an 1st January 18,720
Bad Debts 1,000
Travellers Salary and Commission 1,078
Depreciation on Office Furniture 42
Factory Rent 1,190
Productive Wages (Direct) 17,640
Director’s Fees 840
General Expenses 476
Gas and Water (Production) 168
Travelling Expenses of Sales Staff 294
Sales 75,000
[4372]-204 2 Contd.
Manager’s Salary (2/3  factory, 1/3office) 1,500
Depreciation on Plant and Machinery 1,820
Discount allowed 406
Repairs to Plant and Machinery 623
Carriage Outward 602
Direct Expenses 1,001
Rent, Rates, Taxes (Office) 280
Gas and Water (Office) 56
Stock of Material (Raw) on 31 January 792
You are asked to calculate :
(a) Prime Cost
(b) Factory Cost
(c) Cost of Production
(d) Total Cost
(e) Net Profit [16]
Q.5) (A) Amity Co. Ltd., has supplied you the following information :
Year 2011
1st Term 2nd Term
Sales Rs. 8,10,000 Rs. 10,26,000
Profit Rs. 21,600 64,800
Total Fixed Cost is Rs. 35,000.
Calculate :
(a) P/V Ratio
(b) B.E.P. (Sales)
(c) Profit at Sale Volume Rs. 6,48,000
(d) Sales to earn profit Rs. 1,08,000 [12]
[4372]-204 3 P.T.O.
(B) The following are the particulars of standard and actual production
of product ‘AZ’ :
(1) Standard Quality per unit 10 kg
(2) Standard Price per kg Rs. 18
(3) Actual Units produced 500 units
(4) Actual Price per kg Rs. 19
(5) Actual Material used 4,400 kgs
Calculate :
(a) Material Cost Variance
(b) Material Price Variance
(c) Material Usage Variance [12]
OR
(B) Mahendra Co. Ltd. has presently producing 2,000 units per month
using 100% of its capacity. It is estimated that in the coming
months it will have to operate at 50% and 75% of its capacity.
Prepare a flexible budget for these two production levels from
the information supplied to you. Also calculate the sales value
to earn profit @ 50% on cost. [12]
Iteams Rs. (per unit)
Raw Materials 75
Direct Labour 20
Direct Expenses 25
Variable Factory Expenses (Overheads) 15
Fixed Factory Overheads 20
Fixed Administrative Overheads 10
Selling Expenses (10% Fixed) 15
Distribution Expenses (75% Variable) 20
Total Cost 200

Share This