Solapur University Question Paper
M.Com. – I (Old) (Semester – I) Examination, 2014
ADVANCED COSTING (Paper – I) (Gr. – b)
Day and Date : Saturday, 19-4-2014 Total Marks : 50
Time : 3.00 p.m. to 5.00 p.m.
Instructions : 1) Attempt all questions.
2) Figures to the right indicate full marks.
1. Choose correct alternative :
1) __________ is a unique document sent to store by the requisitioning
department giving details of all the types of material required for the specific
job.
a) Bin Card b) Bill of material
c) Store ledger d) Cost sheet
2) The aggregate of direct material cost, direct labour cost and other direct cost
is called __________
a) Factory cost b) Prime cost
c) Total cost d) Fixed cost
3) ____________ is a document to record only the quantity of material.
a) Bin Card b) Store ledger
c) Cost sheet d) Inventory tag
4) ____________ is that level of material in units at which a fresh order is
initiated.
a) E.O.Q. b) Maximum level
c) Re-order level d) R.O.Q.
5) Under ____________ method, materials are issued at the prices of materials
in which order they are received.
a) LIFO b) HIFO
c) FILO d) FIFO
SLR-N – 3 -2-
6) _____________ is the average of all the prices of materials available for
despatch.
a) Simple average b) Weighted average
c) Average stock d) Average inventory
7) Workers who take materials from the factory and prepare finished goods at
their own premises using their own tools are called _________ workers.
a) Casual b) Skilled
c) Unskilled d) Out
8) Under ___________ method there is punitive rate for the slow workers and a
very encouraging rate for fast workers.
a) Halsey b) Rowan
c) Barth Sharing d) Taylors differential
9) ___________ is the time spent in which an employee does not contribute
anything to production activity.
a) Idle time b) Overtime
c) Standard time d) Actual time
10) ____________ is defined as “a unit of product or services or combination of
them in relation to which cost are ascertained or expressed.”
a) Cost centre b) Cost object
c) Cost d) Cost unit 10
2. A) Write short notes on (any 2) :
1) Labour turnover
2) Cost sheet
3) Economic order quantity.
B) An extract is furnished below :
December 2011
1st Stock 500 units @ Rs. 2 per unit
3rd Purchase 400 units @ Rs. 2.10 per unit
5th Issue 600 units
10th Issue 200 units
-3- SLR-N – 3
15th Purchase 400 units @ Rs. 2.40 per unit
18th Issue 150 units
20th Issue 50 units.
Prepare store ledger using simple average method. (5+5)
3. A) Write short notes (any 2) :
1) Time and motion study
2) Overtime
3) Advantages and limitations of cost accounting.
B) In a company a material is used as below :
Maximum usage 12000 units per week
Minimum usage 4000 units per week
Normal usage 8000 units per week
Reorder quantity 48000 units
Delivery period 4 – 6 weeks
Calculate different stock levels for above material. (5+5)
4. X Ltd., has agreed to supply 24000 bearings per year to Y Ltd. The estimated
cost of holding inventory per bearing per month is 10 paise. The set up cost per
run of bearing manufacture is Rs. 324.
a) What would be the optimum run size for bearing manufacture ?
b) Assuming that the company decides to manufacture 6000 bearing per run,
how much extra cost is incurred compared to optimum size.
OR
Particulars Material X Material Y
Rs. Rs.
Stock on 1-1-2011 67,500 12,500
Purchase during the year 2011 3,32,500 1,37,500
Stock on 31-12-2011 82,500 17,500
You are required to compute material turnover ratio and determine the fast
moving material. 10
SLR-N – 3 -4-
5. During a week, X manufactures 300 units. He receives for a guaranteed 48 hours
week at Rs. 24 per hour. Estimated time to produce one unit is 10 minutes but
under payment by result the time allowed is increased by 20%.
Calculate his wages according to
a) Halsey Plan
b) Rowan plan.
OR
The following are the figures of past year.
Materials consumed Rs. 2,40,000
Labour Direct Rs. 2,00,000
Factory overheads 60% of direct wages.
Administrative overheads Rs. 2 per unit produced
Selling overheads Re. 1 per unit sold
Sales 16000 units @ Rs. 40 per unit
Opening stock of finished goods – NIL
Closing stock of finished goods – 4000 units
Prepare cost sheet. 10
_____________________
M.Com. – I (Old) (Semester – I) Examination, 2014
ADVANCED COSTING (Paper – I) (Gr. – b)
Day and Date : Saturday, 19-4-2014 Total Marks : 50
Time : 3.00 p.m. to 5.00 p.m.
Instructions : 1) Attempt all questions.
2) Figures to the right indicate full marks.
1. Choose correct alternative :
1) __________ is a unique document sent to store by the requisitioning
department giving details of all the types of material required for the specific
job.
a) Bin Card b) Bill of material
c) Store ledger d) Cost sheet
2) The aggregate of direct material cost, direct labour cost and other direct cost
is called __________
a) Factory cost b) Prime cost
c) Total cost d) Fixed cost
3) ____________ is a document to record only the quantity of material.
a) Bin Card b) Store ledger
c) Cost sheet d) Inventory tag
4) ____________ is that level of material in units at which a fresh order is
initiated.
a) E.O.Q. b) Maximum level
c) Re-order level d) R.O.Q.
5) Under ____________ method, materials are issued at the prices of materials
in which order they are received.
a) LIFO b) HIFO
c) FILO d) FIFO
SLR-N – 3 -2-
6) _____________ is the average of all the prices of materials available for
despatch.
a) Simple average b) Weighted average
c) Average stock d) Average inventory
7) Workers who take materials from the factory and prepare finished goods at
their own premises using their own tools are called _________ workers.
a) Casual b) Skilled
c) Unskilled d) Out
8) Under ___________ method there is punitive rate for the slow workers and a
very encouraging rate for fast workers.
a) Halsey b) Rowan
c) Barth Sharing d) Taylors differential
9) ___________ is the time spent in which an employee does not contribute
anything to production activity.
a) Idle time b) Overtime
c) Standard time d) Actual time
10) ____________ is defined as “a unit of product or services or combination of
them in relation to which cost are ascertained or expressed.”
a) Cost centre b) Cost object
c) Cost d) Cost unit 10
2. A) Write short notes on (any 2) :
1) Labour turnover
2) Cost sheet
3) Economic order quantity.
B) An extract is furnished below :
December 2011
1st Stock 500 units @ Rs. 2 per unit
3rd Purchase 400 units @ Rs. 2.10 per unit
5th Issue 600 units
10th Issue 200 units
-3- SLR-N – 3
15th Purchase 400 units @ Rs. 2.40 per unit
18th Issue 150 units
20th Issue 50 units.
Prepare store ledger using simple average method. (5+5)
3. A) Write short notes (any 2) :
1) Time and motion study
2) Overtime
3) Advantages and limitations of cost accounting.
B) In a company a material is used as below :
Maximum usage 12000 units per week
Minimum usage 4000 units per week
Normal usage 8000 units per week
Reorder quantity 48000 units
Delivery period 4 – 6 weeks
Calculate different stock levels for above material. (5+5)
4. X Ltd., has agreed to supply 24000 bearings per year to Y Ltd. The estimated
cost of holding inventory per bearing per month is 10 paise. The set up cost per
run of bearing manufacture is Rs. 324.
a) What would be the optimum run size for bearing manufacture ?
b) Assuming that the company decides to manufacture 6000 bearing per run,
how much extra cost is incurred compared to optimum size.
OR
Particulars Material X Material Y
Rs. Rs.
Stock on 1-1-2011 67,500 12,500
Purchase during the year 2011 3,32,500 1,37,500
Stock on 31-12-2011 82,500 17,500
You are required to compute material turnover ratio and determine the fast
moving material. 10
SLR-N – 3 -4-
5. During a week, X manufactures 300 units. He receives for a guaranteed 48 hours
week at Rs. 24 per hour. Estimated time to produce one unit is 10 minutes but
under payment by result the time allowed is increased by 20%.
Calculate his wages according to
a) Halsey Plan
b) Rowan plan.
OR
The following are the figures of past year.
Materials consumed Rs. 2,40,000
Labour Direct Rs. 2,00,000
Factory overheads 60% of direct wages.
Administrative overheads Rs. 2 per unit produced
Selling overheads Re. 1 per unit sold
Sales 16000 units @ Rs. 40 per unit
Opening stock of finished goods – NIL
Closing stock of finished goods – 4000 units
Prepare cost sheet. 10
_____________________
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