In this post, we have shared the Gauhati University Cost Accounting Question Paper 2013 (Non-CBCS). This question paper is highly beneficial for FYUGP NEP 4th Semester Accountancy Major students.
The paper, originally part of the Non-CBCS curriculum for the 4th Semester, is now included in the FYUGP NEP syllabus. As the content remains relevant, we strongly recommend studying this question paper to enhance your preparation for the FYUGP NEP 4th Semester Honours Course. It is a valuable resource for understanding key concepts in Cost Accounting.
2013
COST ACCOUNTING
Full Marks: 80
Time: 3 hours
(The figures in the margin indicate
full marks for the questions)
1. Answer as directed:
1x10=10
1) Cost Accounting is generally concerned with internal reporting for managerial requirement. (State whether the statement is True or False)
2) Cost is expressed in ‘Rs.’ Pr physical unit (like metre, kg, km, tonne etc.) (State whether the statement is True or False)
3) Calculate the value of raw materials consumed if Raw materials purchased Rs. 88,000, Opening stock of raw materials Rs. 1,00,000 and Closing Stock of raw materials Rs. 1,23,500.
4) Select the most appropriate:
Material control covers:
a) Purchase of Materials.
5) Materials should be issued by the storekeeper against _______ slip. (Fill in the blank)
6) Stock verification sheets are maintained to record the result of _______. (Fill in the blank)
7)
Time and Motion study is conducted
by Payroll Department. (State whether the statement is True or False)
8) Cost of Abnormal idle time is transferred to _______. (Fill in the blank)
9) Wages sheet is prepared by the Select the most appropriate:
c) Cost accounting department.
10) Overhead cost is the aggregate of indirect material cost, indirect wages and _______. (Fill in the blank)
2. Answer the following very
briefly: 2x5=10
1) Write the meaning of cost classification.
2) State at least four items of expenses/losses which will not form a part of the costs as per cost accounting.
3) Write the meaning of merit rating.
4) Write the meaning of cost apportionment.
5) What basis would you follow for distribution of the following overhead expenses to departments?
Factory rent, Municipal rent and
Taxes, ESI, Store service expenses.
3. (1) The following information
relates to the manufacturing of a standard product during June 2013:
(1) Write the meaning of cost
classification.
|
Amount in Rs. |
|
|
Raw materials Direct labour Machine hour rate Machine hour worked Administrative overheads 20% of Works cost selling overhead Rs. 5 per
unit Units Produced Units Sold |
2,00,000 1,00,000 50 900 hours 17,100 units 16,000 units @ 40 per unit |
You are required to prepare
statement of cost, showing cost and profit per unit sold.
(2) State five features of a good
cost accounting system.
5
(3) Write five causes of under or
over absorption of overheads.
5
Or
Write five objectives of
departmentalization overheads.
5
(4) Briefly describe the process
costing procedure.
5
Or
Briefly describe the accounting
treatment of the following while preparing contract Account.
a) Depreciation of Plant.
b) Cash Ratio and Retention Money.
4. Barpeta Rice Enterprise do not
maintain perpetual inventory system. Only physical inventory was taken at the
end of each month. The physical inventory at the end of Dec. 2012 showed 200
bags of fine rice at Rs. 212.25 per bag. The following purchases were made
during the month of January, 2013:
|
3rd Jan. 10th Jan. 15th Jan. 28th Jan. 30th Jan. |
400 bags at Rs. 218 per bag. 900 bags at Rs. 223.50 per bag. 400 bags at Rs. 220 per bag. 700 bags at Rs. 213 per bag. 300 bags at Rs. 224 per bag. |
On 31st January,
2013, the physical stock was 1,200 bags. You are required to calculate the
value of the stock on 31st January, 2013 according to
Or
Explain briefly the meaning of
Maximum Level, Minimum Level and Re-ordering Level in maintenance of stock in
an organisation. What is the factor that governs the fixing of these
levels? 10
5. From the following particulars,
prepare the labour cost per man day of 8
hours. 10
|
(1) (2) (3) (4) (5) (6) |
Basic pay Rs. 5 per day. Dearness allowance Rs. 25 per every
point over 100 cost of living index for working class. Current cost of living
index is 700 points. Leave salary, 10% of (1) and (2). Employer’s contribution to Provident
Fund 8% of (1) (2) and (3). Expenditure on amenities to labour
Rs. 20 per head per month. Number of working days in a month 25
days of 8 hours. |
Or
Write short notes on:
5+5=10
6. Describe briefly the principal
accounts to be maintained in the Cost Ledger and state their
functions. 10
Or
Why in Reconciliation of Cost and
Financial Accounts necessary? State the possible reasons for differences
between profits shown by both the accounts.
5+5=10
7. The following expenditure was
incurred for producing 190 units of a standard product
|
Rs. |
|
|
Material issued (200 units) Direct Labour Indirect expenses Normal wastage 5% of the input |
8,000 6,000 4,000 |
Prepare Process Account and
Calculate the per unit cost of the good units if:
1) Scrap value of wastage sold at Rs. 33 per unit.
2) Scrap value of wastage is nil.
Or
The following figures relate to two
jobs of a building contractor.
|
Contract A |
Contract B |
|
|
Total expenditure upto 31st Dec
2010 Wages paid in 2011 Materials issued in 2011 Indirect expenses charged in 2011 |
77,784 20,472 31,556 1,050 |
34,414 4,219 1,429 115 |
In each case the work was actually
completed on 30th Nov. 2011 but contract could not be
considered as completed until the maintenance period of six months had expired
on 31st May, 2012.
Prepare Contract Account in
Columnar form and state what profit or less (is any) should be transferred to
Profit and Loss Account of 2011 supposing maintenance expenses to be Rs. 200
per month for each
contract. 10
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