COST ACCOUNTING,University Of Pune Question Paper,B. B. M. (I.B.) ( Semester - II ),2013 Question Paper

University Of Pune Question Paper
B. B. M. (I.B.) ( Semester - II ) Examination - 2013
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 : [051
(a) _________ Control is a broader term than Budgeting.
(b) _________ is a very important indicator of the Profit
Earning Capacity of Business.
(c) P/V Ratio is the ratio of _________ to Sales.
(d) Aggregate of all Direct Costs is known as _________.
(e) In contract Costing, the Cost Unit is _________.
(B) State which of the following statements are true or false : [05]
(a) Marginal Cost = Total Cost - Fixed Cost.
(b) Costing is the Technique and Process of Ascertaining Cost.
(c) Fixed Cost per unit is always fixed.
(d) Job Costing is suitable for special order concerns.
(e) All Indirect Expenses are called as Overheads.
[4374]-201 1 P.T.O.
Seat
No.
Q.2) Define the term ‘Cost’. Explain various Elements of Cost with suitable
example. [15]
OR
Q.2) Explain Concept of Cost, Costing, Cost Accounting and Cost
Accountancy. State Advantages of Cost Accounting. [15]
Q.3) Write short notes : (Any Three) [15]
(a) Flexible Budget
(b) Break-even Point
(c) Cost Unit
(d) Retention Money
(e) Process Costing
Q.4) The following details have been obtained from the books of
M/s. Cement India Ltd. for one month. You are required to prepare
Cost Sheet : [16]
Particulars Rs.
Stock of Raw Materials on 1st April, 2012 75,000
Stock of Raw Materials on 30th April, 2012 91,500
Direct Wages 52,500
Indirect Wages 2,750
Sales 2,11,000
Work-in-progress on 1st April, 2012 28,000
Work-in-progress on 30th April, 2012 35,000
Purchases of Raw Material 66,000
Factory Rent and Power 15,000
Depreciation on Plant and Machinery 3,500
Expenses on Purchases 1,500
Carriage Outward 2,500
Advertisement 3,500
Office Rent and Taxes 2,500
Traveller's Wages and Commission 6,500
Stock of Finished Goods on 1 April, 2012 54,000
Stock of Finished Goods on 30th April, 2012 31,000
[4374]-201 2 Contd.
Q.5) (A) A company has prepared the following budget estimate for the
year 2011-12 :
Sales – 15,000 units
Fixed Cost – Rs. 34,000
Sales Value – Rs. 1,50,000
Variable Cost per unit - Rs. 6
You are required to calculate :
(a) P/V Ratio
(b) BEP (Sales)
(c) Margin of Safety [12]
(B) Dabur Chemicals Ltd., Nagpur has given you the following
information at 50% capacity of the production of 5,000 units
during the month of March, 2009 :
Particulars                         Cost Per unit Rs.
Materials                                              50
Labour                                                 30
Variable Overheads                             20
Fixed Overheads (Rs. 50,000)             10
Admn. Overheads (90% Fixed)           10
Selling Expenses (25% Fixed)             08
Distribution Expenses (20% Fixed)      05
 Total                                                    133
You are required to prepare Flexible Budget at 60%, 70%
capacity. [12]
OR
[4374]-201 3 P.T.O.
–
(B) From the following data, calculate : [12]
(a) Material Cost Variance
(b) Material Price Variance
(c) Material Usage Variance
Raw Material             Standard                       Actual
X                                 40 units Rs. 50             50 units Rs. 50
                                          per unit                         per unit
Y                                 60 units Rs. 40             60 units Rs. 45
                                      per unit                                per unit

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