We strongly recommend studying this Gauhati University FYUGP NEP BCom 4th Sem Cost and Management Accounting question paper 2022 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 And Management Accounting 2022 Question Paper [Gauhati University BCom 4th Sem]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgl0pivz3htiWQtiIBOoABe6S7edjE_HUa_5j0Hkf_5DYJkqsO2gQbDPWtStD72xRW2QveX0CFX8RuwY9o5GKqzJIMLWFjVdswfi426n5bX6jASAIxjOlwL5fGJ-7yUBD-IU1nxiK5xHh9vm3YXlBNKI3JsCupdDGx_ktLglhJW8veBkR1LWgGmTINv1CRg/s960/Cost%20And%20Management%20Accounting%202017%20Question%20Paper%20%5BGauhati%20University%20BCom%204th%20Sem%5D.webp "Cost And Management Accounting 2022 Question Paper [Gauhati University BCom 4th Sem]")
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
*****
2022
COMMERCE
(Honours Elective)
(Management Accounting)
Full Marks: 80
Time: Three hours
The figures in the margin indicate full marks for the questions.
Answer the following questions: (any ten) 1x10=10
(a) Management Accounting deals with both quantitative and_______information.
(Fill in the blank)
(b) Management Accounting is helpful in increasing profitability. (State whether the statement is True or False)
(c) Define the term 'Management Accounting'.
(d) Financial statements are
(i) estimates of facts
(ii) anticipated facts
(iii) recorded facts
(iv) All of the above
(Choose the correct answer)
(e) Financial statements are only______reports. (Fill in the blank)
(f) Debt-equity ratio is the relationship between outsiders' funds and_______funds. (Fill in the blank)
(g) What is gross profit ratio ?
(h) What do you mean by cash budget?
(i) Labour cost variance is the difference between standard cost of Inbour and_______cost of labour. (Fill in the blank)
(j) State the meaning of standard costing.
(k) What is break-even point. 2
(l) Marginal costing is a technique of cost control. (State whether the statement is True or False)
(m) Contribution is the difference between sales and______costs. (Fill in the blank)
(n) What is margin of safety?
(0) Standard cost is a_____cost. (Fill in the blank)
(p) Liquidity ratios measure long-term solvency of a concern. (State whether the statement is True or False)
(9) Management Accounting provides decisions to the management. (State whether the statement is True or False)
(r) Liquid ratio is also known as_______ratio. (Fill in the blank)
2. Write brief answers to the following questions (any five) 2×5=10
(i) Mention two limitations of Management Accounting.
(ii) Write two distinctions between Cost Accounting and Management Accounting.
(iii) State two objectives statement analysis.
(iv) State two advantages of ratio analysis.
(v) Mention two distinctions between fixed budget and flexible budget.
(vi) Write two limitations of budgetary control.
(vii) State the meaning of materials cost variance.
(viii) Write the significance of the term. 'variance' in standard costing.
(ix) State the meaning of marginal costing.
(x) What is angle of incidence in marginal costing ?
3. Answer the following questions: (any four) 5×4=20
(i) Mention five objectives of Management Accounting.
(ii) Briefly explain the importance and need of Management Accounting.
(iii) Write a brief note on comparative statements.
(iv) Explain in brief the significance of return on capital employed.
(v) State the objectives of budgetary control.
(vi) Briefly explain any five advantages of cash budget.
(vii) Explain the possible causes for material price variance in standard costing.
(viii) Write a brief note on cost-volume- profit analysis.
4. Answer the following questions: (any four) 10×4=40
(a) Management Accounting is the presentation of accounting information in such a way as to assist management in the creation of policy and in the day-to-day operations of the undertakings.' Explain this statement.
(b) Briefly discuss about cost control and cost reduction. Also explain its advantages. 3+3+4=10
(c) Explain the procedure of analysis and interpretation of financial statements. Also discuss the limitations of financial analysis. 5+5=10
(d) From the following data, prepare a Comparative Statement of Profit and Loss of Shiva India Ltd.:
(e) What is a budget? Briefly explain the advantages of budgetary control. 2+8=10
(f) X & Co. wishes to arrange overdraft facilitics with bankers during the period April to June of a particular year, when it will be manufacturing mostly for stock. Prepare a cash budget for the above period from the following data, indicating the extent of the bank facilities, the company will require at the end of each month:
Other informations :
(i) 50% of the credit sales are realised in the month following the sales and the remaining sales in second month following.
(ii) Creditors are paid in the following month of purchase.
(iii) Cash at bank is 25,000 on 1st April.
(g) (i) Explain wage rate variance and labour efficiency variance. 2+2=4
(ii) From the following information regarding a standard product, calculate labour variances: 6
Labour rate - 50 paise per hour
Hours per unit - 10 hours:
Units produced - 500
Hours worked - 6000
Actual labour cost - 22,400
(h) (i) State the steps standard involved in costing. 4
(ii) Discuss the limitations of standard costing.
(i) Explain the advantages of marginal costing and cost-volume-profit analysis.
(j) Assuming that the cost structure and selling prices remain same in period and II, find out -
-0000-
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