[Gauhati University Cost Accounting Question paper 2022 B.COM 4th sem under CBCS Pettern]
2022
COMMERCE
(Honours/Regular)
Paper: COM-HC-4016/COM-RC-4026
(Cost Accounting)
Full Marks: 80
Time: hours.
The figures in the margin indicate full marks for the questions.
Answer the following as directed: (any ten) 1x10=10
(a) Costing is a technique of _______cost.
(Fill in the blank with appropriate word)
(b) Cost accounting is based on figures.
(Fill in the blank with appropriate word)
(c) Variable cost per unit remains constant.
(State whether the statement is true or false)
(d) Wages paid to factory supervisor is overhead.
(State whether the statement is true or false)
(e) Re-ordering level = Minimum consumption Minimum re-order period.
(State whether the statement is true or false)
(f) Which methods of valuing materials is suitable in terms of rising prices ?
LIFO
FIFO
HIFO
FILO
(g) In which industry process costing is not used?
(i)Chemical
(ii) Textiles
(iii) Cement
(iv) Oil refinery
(h) An abnormal loss is
(i) due to the nature of process
(ii) due to the abnormal factors
(iii) None of the above two
(i) Costing provides all of the following information, except_____.
(Fill in the blank from the following options)
(i)product costs
(ii) cash forecasts
(iii) inventory value
(iv) cost of goods sold
(j) Define the term 'costing'.
(k) What is idle time?
(l) What is meant by cost-plus contract?
(m) Write the meaning of 'imputed cost' in Cost Accounting.
(n) What is meant by Cost Ledger Accounting ?
(O) Identify the types of Specific Order
Costing :
(i) Batch costing
(ii) Job costing
(iii) Process costing
(iv) Both (i) and (ii)
2.Answer the following questions : (any five) 2x5= 10
(a) Write any two distinguishing features of cost unit and cost centre.
(b) What is economic order quantity ?
(c) State the meaning of overtime.
(d) State two features of indirect labour.
(e) State two important features of contract costing.
What is meant by 'minimum level' in stock control ?
(g) What is machine hour rate ?
(h) What is meant by absorption of overheads?
Guhati University Cost Accounting Question Paper 2022 August 20 B.COM 4th Sem (Honours/Regular)
3.Answer any four of the following questions: 5×4=20
(a) Write five differences between Financial Accounting and Cost Accounting.
(b) Write a short note on ABC analysis of inventory control.
(c) Black and White manufacture and sell 'Dirt Buster'. Following details are available for the year ending on 31/03/2022:
Direct Materials 12,30,000
Direct Wages. 800,000
Factory expenses at 25% of prime cost
Administrative expenses at 20% of factory cost
Selling and distribution expenses at ₹ 300 per unit
Opening stock of finished goods (100 units) at ₹ 2,53,750 and closing stock of finished goods 80 units. Number of Dirt Busters sold during the period 1,220 unit at ₹ 4,000 per unit.
Prepare Cost Statement showing cost of production per unit and profit.
(d)
Following information relating to a type of raw material is available:
Annual demand ₹4,800 unit
Unit price ₹4.80
Ordering cost per order ₹8.00
Storage cost 2% per annum
Interest rate 10% per annum
Lead time. Half month
Calculate EOQ and Total Inventory Cost in respect of the particular material. 3+2=5
(e) How is profit of an incomplete contract ascertained ? Explain.
(f) Explain the needs for reconciliation of cost and financial accounts.
(g) Explain the concept of perpetual inventory system as a technique of effective material control.
(h) Mention five special features of a good costing system.
4. Answer any four of the following questions: 10×4=4
(a) What is cost accounting? Explain the objectives of cost accounting. 3+7=10
(b) Bishal is employed in a factory. From the following information, calculate his earning per day under
(i) straight piece rate; and
(i) Taylor's differential piece rate system. Normal rate per hour 90.00. Standard time per unit 60 seconds.
Differentials:
80% of piece rate below standard
120% of piece rate above standard Production achieved: 500 units per day.
(c) Briefly describe two remuneration plans together with their advantages and disadvantages. 5+5=10
(d) A product passes through two processes.
The details are as below:
Prepare process 1 and process 2 account also ascertain cost per unit.
(e) What is material control ? Explain the purchase procedure to be maintained under material control system. 2+8=10
(f) What is labour turnover ? What are various causes of labour turnover ? Explain in brief. 3+7=10
(g) Discuss various bases for apportionment of overheads to cost centres.
(h) What is job costing? What are the source documents used in job costing? Explain the procedure of job costing. 3+7=10
(i) What is abnormal loss? State the causes of abnormal loss. Also explain the procedure of calculating abnormal loss in process costing. 2+2+6=10
(i)The following are the summary of transactions obtained from the costing records of Champa Company.
Direct wages (cash). 30,000
Indirect wages (cash). 20,000
Purchases (cash) 20,000
Puchases (credit) 40,000
Stores issued against production order 200,000
Works expenses (cash). 40,000
Works expenses allocated to jobs 70,000
Administrative expenses 50,000
Administrative expenses allocated to jobs 34,000
Finished good transfer to warehouse 400,000
You are required to journalise the above transactions under integral accounting system. 1×10=10
*****
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