In this post, we have shared the Gauhati University Cost Accounting Question Paper 2014 (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 Cost Accounting Question Paper , 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.
2014
COST ACCOUNTING
Full Marks: 80
Time: 3 hours
(The figures in the margin indicate
full marks for the questions)
1. Answer as directed:
1x6=6
a) What is just-in-Time Purchasing?
b) Define ‘Codification of materials’.
c) What is ‘Time Booking’ in Labour Cost Control?
d) Mention the meaning of ‘Time and Motion Study’.
e) Give two features of ‘Process Costing’.
f) Mention two difficulties involved in process costing.
2. Answer the following questions
briefly: 3x5=15
a) Explain the practical difficulties faced while installing Cost Accounting System in are organisation.
b) Define, with examples, the meaning of
c) what are the essential of ‘Perpetual Inventory System’?
d) Mention the causes of high labour turnover.
e) Discuss the applicability of Process Costing.
3. Answer the following
questions: 5x2=10
(a) Write a brief note on ‘Methods
of Classification’ of overheads in cost accounting.
Or
Write a brief note on ‘Methods of
overhead absorption in Cost Accounting.
(b) Describe the treatment of the
following items in Cost Accounting:
Or
The following budget is presented
before you for the year 2014-15.
|
Rs. |
|
|
Factory overheads Direct labour cost Direct labour hours Machine Hours |
62,000 98,000 15,500 hours 50,000 hours |
There will be 3,000 direct labour
and 10 machines working during 2014-15.
You are required to calculate –
1) Direct Labour Hour Rate.
2) Direct Labour Cost Rate.
4. Explain the following
questions: 5x2=10
a) Explain the meaning and basic features to ‘Integral System of Cost Accounting records’.
b) Explain the possible reasons for differences between Profit (Loss) shown by Cost Accounts and Financial Accounts.
5. Answer the following questions:
(a) From the following information,
prepare a Cost Sheet showing cost per unit and show the profit for the month of
January
2014. 9
|
Rs. |
|
|
Raw Materials Consumed Direct wages Selling Overhead per unit Machine hours worked Machine hour rate Office Overhead Unit Produced Unit Sold Sales |
80,000 48,000 150 8,000 hours 4 per hour 10% of works cost 4,000 3,600 @ Rs. 50 each 18,000 |
(b) From the following particulars
find out the value of Closing Inventory as on
31.3.2014. 10
|
Purchases: |
||
|
2014, March |
3 7 17 |
400 kgs @ Rs. 2.50 per kg. 800 kgs @ Rs. 3.00 per kg. 500 kgs @ Rs. 3.50 per kg. |
|
Issues: |
||
|
2014, March |
5 9 25 |
600 kgs. 500 kgs. 600 kgs. |
Stock on March 1, 2014 was 500 kgs
valued @ Rs. 2.00 per kg. The stock verification on March 27 revealed that
there was a loss of 10 kg. Apply FIFO Method.
Or
Discuss the merits and demerits of
FIFO and LIFO methods of inventory valuation.
(c) Calculate the total monthly
remuneration of two workers: A and B from the following
data: 10
1) Standard production per month per workers 200 units.
Actual Production:
A: 1,800 units
B: 1,600 units.
2) Piece Work rate in Re. 1.00 per unit of actual production.
3) Additional production bonus is Rs. 20 for each percentage actual production exceeding 80% of actual production.
Or
Give the treatment of the following items as applied in Cost Accounting: 10
4) Research and Development expenses.
(d) The following is the condemned
record of transaction on 31st March, 2014 relating to a special
contract completed on the same financial year.
10
|
Rs. |
|
|
Materials bought from Market Materials issued from the Stores Wages Direct Expenses |
3,000 1,000 4,880 588 |
Work on cost 25% of Direct Wages;
Office on cost 10% of Prime Cost; Contract Price Rs. 12,000.
You are required to prepare a
Contract Account keeping in view that material returned amounted to Rs. 480.
-000-