Cost And Management Accounting 2018 Question Paper [Gauhati University BCom 4th Sem]

In this post, we have shared the Gauhati University Cost and Management Accounting Question Paper 2018 (Non-CBCS). This question paper is highly beneficial for FYUGP NEP 4th Semester all Major students . It is particularly relevant for students pursuing  Finance Major, HRM Major, and Marketing Management Major, as the syllabus for both Non-CBCS and NEP patterns is quite similar.

We strongly recommend studying this Gauhati University FYUGP NEP BCom 4th Sem Cost and Management Accounting question paper 2018 thoroughly to enhance your preparation for the FYUGP NEP 4th Semester Honours Course. This previous year’s Non-CBCS question paper will be a valuable resource for all major courses under the FYUGP NEP 4th-semester syllabus.

4th Semester B.Com Gauhati University
2018

COST AND MANAGEMENT ACCOUNTING
Full Marks: 80
Time: Three Hours

The figures in the margin indicate full marks for the questions.

GROUP A (Cost Accounting) – Marks: 40

1. Answer the following as directed: (1×6=6)

i) Variable cost remains fixed per unit. (Write true or false).

ii) In case of the LIFO method, issues are based on actual cost. (Write true or false).

iii) In historical costing, actual costs are ascertained after they have been incurred. (Write true or false).

iv) Quantity and price are recorded in the Bin Card. (Write true or false).

v) Time wages are suitable where the quantity of work is more important than the quality of work. (Write true or false).

vi) Rent is a variable overhead. (Write true or false).

2. Answer the following questions: (2×2=4)

i) What is labour turnover?

ii) What is a bill of materials?

3. Answer any two questions from the following: (5×2=10)

i) Write any five differences between financial accounting and cost accounting.

ii) What are the different methods of measuring labour turnover?

iii) Write the differences between ABC analysis and VED analysis.

4. Answer the following questions: (10×2=20)

(a) What are the techniques of costing?

Or

Two components, X and Y, are used as follows:

• Normal usage: 600 units per week (each)

• Maximum usage: 900 units per week (each)

• Minimum usage: 300 units per week (each)

• Re-order quantity:

• X = 4800 units

• Y = 7200 units

• Re-order period:

• X = 4 to 6 weeks

• Y = 2 to 4 weeks

Calculate:

i) Re-order level
ii) Minimum level
iii) Maximum level
iv) Average level for each component X and Y

(b) What are the various methods of absorption of overhead?

Or

 Calculate the following variances from the given data:

• Material price variance

• Material usage variance

• Material mix variance

• Material yield variance

Standard Mix:

Raw Materials	Units	Price (Rs.)	Amount (Rs.)
A	60	25	1,500
B	40	50	2,000
Total	100	—	3,500

Actual Mix:

Raw Materials	Units	Price (Rs.)	Amount (Rs.)
A	56	25	1,400
B	44	50	2,200
Less: Loss	30	—	—
Total	70	—	3,600

Note: The standard loss is 30%.

GROUP B

 (Management Accounting) – Marks: 40

5. Answer the following as directed: (1×6=6)

i) Budgeting is a tool of Management Accounting. (Write true or false).

ii) Analysis of financial statements means an attempt to determine the significance and meaning of the data presented in financial statements. (Write true or false).

iii) Liquidity means the ability of a firm to meet its long-term obligations. (Write true or false).

iv) A quick ratio of 1:1 is considered to represent a satisfactory current financial position. (Write true or false).

v) Earnings per share =
(Net profit after taxes - preference dividend) / No. of equity shares. (Write true or false).

vi) Contribution is the difference between sales and ______. (Fill in the blank).

6. Answer the following questions: (2×2=4)

i) Mention two objectives of management accounting.

ii) What is the margin of safety?

7. Answer any two questions from the following: (5×2=10)

i) What is a cash flow statement?

ii) What is budgetary control?

iii) From the following information, calculate:

• (i) Current Assets

• (ii) Current Liabilities

Given Data:

• Current ratio = 2.5

• Working capital = Rs. 90,000

8. Answer any two questions from the following: (10×2=20)

(a) Explain the managerial application of marginal costing.

Or

 A company is making a loss of Rs. 40,000, and the relevant information is as follows:

• Sales = Rs. 1,20,000

• Variable cost = Rs. 60,000

• Fixed cost = Rs. 1,00,000

Calculate:

i) Break-even point
ii) Sales required to earn a profit of Rs. 1,00,000
iii) Profit when sales are Rs. 6,00,000
iv) Margin of safety when total sales are Rs. 3,50,000

(b) Explain the following budgets in brief:

i) Cash budget
ii) Master budget
iii) Zero-based budgeting
iv) Fixed budget

Or

A Ltd. has prepared a budget for the production of 1,00,000 units as follows:

Particulars	Per Unit (Rs.)
Raw Materials	10.00
Direct Labour	3.00
Direct Expenses	0.50
Works Overhead (60% Fixed)	10.00
Administrative Overhead (80% Fixed)	1.60
Selling Overhead (50% Fixed)	0.80

Actual production in the period was only 60,000 units.

Prepare a budget for the original and revised levels of output.

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