Cost And Management Accounting 2021 Question Paper [Gauhati University BCom 4th Sem]

In this post, we have shared the Gauhati University Cost and Management Accounting Question Paper 2021 (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 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 2021 thoroughly to enhance your preparation for the FYUGP NEP 4th Semester Honours Course. This previous year’s CBCS question paper will be a valuable resource for all major courses under the FYUGP NEP 4th-semester syllabus

Cost Accounting Question Paper 2021 (Held in 2022)

Gauhati University BCOM 4th Sem Question Paper

4 (SEM-4/CBCS)

Full Marks: 80

Time: Three hours

The figures in the margin

indicate full marks for the questions.

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

(a)       Indirect expenses are also known as _______. (Fill in the blanks with appropriate word/words)

(b)       FIFO method of valuing materials is suitable in times of rising prices. (State whether the statement is ‘True’ or ‘False’)

(c)       Wage sheet is prepared by the

(1)       Pay-roll Department.

(2)       Production Department.

(3)       Personnel Department.

(4)       None of the above.  (Select the most appropriate one)

(d)       Fixed cost per unit decreases with increase in output. (State whether the statement is ‘True’ or ‘False’)

(e)       Loss incurred in an incomplete contract is transferred to Contract Account. (State whether the statement is ‘True’ or ‘False’)

(f)        Which of the following is shown in Cost Accounts?

(1)       Transfer to Reserve.

(2)       Loss on sale of building.

(3)       Donations.

(4)       None of the above.  (Select the most appropriate one)

2. Answer the following questions:          2×5=10

(a)       What is meant by Bin Card?

(b)       State two objectives of Time and Motion Study.

(c)       State the meaning of Machine Hour Rate.

(d)       Mention two features of Contract Costing.

(e)       Name two items that are included in financial accounts but not in cost accounts.

3. Answer any four of the following questions:                   6×4=24

(a)       What is a “Cost Sheet”? Mention four advantages of preparation of Cost Sheet.                2+4=6

(b)       Write a short note on the role of Cost Accountant in business organisation.         6

(c)       The particulars of Materials ‘A’ and ‘B’ are given below:  6

Normal usage: 100 units per week each.

Minimum usage: 50 units per week each.

Maximum usage: 150 units per week each.

Re-ordering quantity:

‘A’ – 600 units.

‘B’ –1,000 units.

Re-ordering period:

‘A’ – 3 to 5 weeks.

‘B’ – 2 to 4 weeks.

Calculate the following:

(1)       Re-ordering level.

(2)       Minimum Stock level.

(3)       Maximum Stock level.

(4)       Average stock level.

(d)       A worker manufactured 180 articles during the last week of April 2021. Working hours during the week are 48 hours, standard rate Rs. 12 per hour and standard time to manufacture an article is 20 minutes. Calculate his total wages for the week according to Halsey Premium Bonus Plan.   6

(e)       What is overhead? Mention any four features of fixed overheads.           2+4=6

(f)        Mention any six points of distinctions between Integrated Accounting and Non-integrated Accounting.     6

4. Answer any four of the following questions:   10×4=40

(a) The following is the expenditure on a contract of Rs. 12,00,000 commenced in January 2020:   10

	Rs.
Materials Wages Plant Overhead Sub-Contractor’s bill	2,20,000 3,28,000 40,000 17,200 20,000

Cash received on account of contract upto 31st December, 2020 was Rs. 4,80,000 being 80% of the work certified. The value of materials in hand was Rs. 20,000. Depreciation on plant was charged @ 20% per annum. Prepare Contract A/c.

(b) A company disclosed profit of Rs. 55,635 in the financial accounts and for the same period the cost accounts disclosed a profit of Rs. 13,520 only. On examination the following
differences were observed:

Particulars	Cost Accounts(Rs.)	Financial Accounts(Rs.)
Depreciation Bad Debts Opening Stock Closing Stock Profit on sale of Assets Dividend Received Imputed Rent Charge	49,130 – 1,37,550 91,090 – – 16,250	52,600 800 1,27,500 93,750 4,250 13,175 –

Reconcile the Profit as per Cost Accounting records and Financial Accounting records.                     10

(c) Following are the details of stores receipts and issues of materials of an organisation:

March 1:	Opening stock of materials 4,400 units @ 8 per unit.
March 5:	Purchased 550 units @ Rs. 10 per unit.
March 8:	Issued 2,200 units.
March 10:	Purchased 6,600 units @ Rs. 12 per unit.
March 16:	Issued 4,400 units.
March 20:	Issued 1,100 units.
March 23:	Issued 2,200 units.
March 27:	Purchased 4,950 units @ Rs. 11 per unit.
March 31:	Issued 3,300 units.

Prepare Store Ledger by using:

(1)       First-in-first-out (FIFO) Method.

(2)       Last-in-first-out (LIFO) Method.                       5+5=10

(d) What is Labour Turnover? What are the costs involved in labour turnover? How can you reduce the impact of labour turnover?            2+4+4=10

(e) What do you mean by over absorption and under absorption of overheads? What are the causes of such over or under absorption?           4+6=10

(f) Mention the characteristics of Process Costing. Explain the different types of process losses and state how they are treated in Cost Accounts.              4+6=10

***

2021 (Held in 2022)

COMMERCE (Honours Elective)

(Management Accounting)

Full Marks: 80

Time: Three Hours

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

1. (a) State whether the following statements are 'True' or 'False': 1×5=5

i) Management accounting is concerned with the future.
ii) Financial Statements are the end products of the accounting process.
iii) A flexible budget changes with the change in the level of activity.
iv) When actual cost is greater than standard cost, then variance is favourable.
v) Profit-Volume ratio is also known as the contribution ratio.

(b) Fill in the blanks with appropriate words: 1×5=5

i) Management accounting deals only with that information which is useful to the ________.
ii) Two elements of a current ratio are current assets and ________.
iii) Budgetary control is a system of controlling ________.
iv) The difference between actual cost and standard cost is known as ________.
v) In marginal costing, only ________ costs are charged to production.

(c) Write brief answers to the following questions: 2×5=10

i) Write two advantages of management accounting.
ii) Mention two limitations of ratio analysis.
iii) Write the meaning of budgetary control.
iv) Write the meaning of variance analysis.
v) Write two basic characteristics of marginal costing.

2. Answer any four of the following questions: 5×4=20

i) Briefly explain the scope of management accounting.
ii) Explain the significance of liquidity ratios.
iii) State the characteristics of good budgeting.
iv) Mention five managerial uses of ratio analysis.
v) Explain the assumptions of marginal costing.
vi) Briefly explain any five advantages of standard costing.

3. Answer either (a) and (b) or (c):

(a) The following information of a company is given below:

• Current Ratio = 2.8

• Acid-test Ratio = 1.5

• Working Capital = ₹1,62,000

Find out:
i) Current Assets
ii) Current Liabilities
iii) Liquid Assets

(b) How is the common size statement different from the comparative statement?

(c) What is the meaning of financial statement analysis? Describe briefly the techniques of financial statement analysis. (2+8=10)

4. Answer either of the following:

10 Marks

i) Explain different tools and techniques of management accounting in the areas of decision-making.

Or

ii) Explain the functions of management accounting.

5. Answer either of the following: 10 Marks

(a) The expenses budgeted for the production of 10,000 units in a factory are furnished below:

Expense

Per Unit (₹)

Materials

70

Labour

25

Variable Overhead

20

Fixed Overheads (₹1,00,000)

10

Variable Expenses (Direct)

5

Selling Expenses (10% Fixed)

13

Distribution Expenses (20% Fixed)

7

Administrative Expenses (₹50,000)

5

Total Cost of Sales per unit

155

Assume that administrative expenses are fixed for all levels of production.

Prepare a flexible budget for the production of:
i) 8,000 units
ii) 6,000 units

(b) State the factors considered in the establishment of standard cost.

6. Answer either of the following:

10 Marks

(a) Following information is obtained from the books of Asian Ltd.:

• Fixed Cost = ₹1,60,000

• Selling Price per unit = ₹100

• Variable Cost per unit = ₹90

Calculate:
i) P/V ratio
ii) Break-even sales
iii) Break-even units
iv) Sales to earn a profit of ₹40,000
v) Profit when sales are ₹20,00,000

Or

(b) Explain the uses of marginal costing by management in the decision-making process.

-0000-

Must Explore: Gauhati University FYUGP NEP BCom 4th Sem Main Page