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Cost Accounting Question Paper 2024
Dibrugarh University BCOM 2nd SEM FYUGP
Cost Accounting, COMMERCE (Minor)
Full Marks: 80, Pass Marks: 24, Time: 3 hours
The figures in the margin indicate full marks for the questions
1. (a) Write True or False of the following: 1x4=4
(i) Variable cost per unit remains constant.
(ii) Cost accounting is not needed if prices are beyond the control of the firm.
(iii) Service costing is applicable in canteens.
(iv) Machine hour rate method of absorption is suitable where major portion of production is performed by machine.
(b) Fill in the blanks: 1x4=4
(i) Cost accounting provides data for managerial _______.
(ii) FIFO method of valuing material issues is suitable in times of _______.
(iii) A landline telephone expenses is _______ cost.
(iv) The method of costing applied in biscuit industries is _______ costing.
2. Write short notes on any four of the following: 4x4=16
(a) Cost Centre.
(b) Material Loss.
(c) Overtime.
(d) ABC Analysis.
(e) Rowan Premium Bonus Plan.
(f) Causes of Labour Turnover.
3. (a) What do you understand by cost classification? Discuss the various bases of classification of costs and various types of costs. 4+6+4=14
Or
(b) Prepare a Cost Sheet to show the total cost of production and cost per unit of goods manufactured by a company for the month of July 2023. Also find the cost of sales and profit:
The number of units produced during July 2023 was 3,000. The stocks of finished goods were 200 and 400 units on 01-07-2023 and 31-07-2023 respectively. The total costs of the units on hand on 01-07-2023 was Rs. 2,800. All these had been sold during the month.
4. (a) What do you mean by material control? What are its techniques? Discuss its significances. 3+3+8=14
Or
(b) A worker takes 80 hours to do a job for which the time allowed is 100 hours. His daily rate is Rs. 2.50 per hour. Calculate the works cost of the job under the following methods of payment of wages and statement of works cost and calculate the wages:
(i) Time Rate.
(ii) Halsey Plan.
(iii) Rowan Plan.
Additional Information:
(1) Materials cost Rs. 120.
(2) Factory overhead 125% of wages.
5. (a) What factors would you consider for determining the overhead absorption rate? Explain the causes of over- and under- absorption of overheads. 7+7=14
Or
(b) From the following particulars, compute a comprehensive machine hour rate: 14
(i) Cost of machine Rs. 1,00,000.
Estimated life = 15 years.
Residual value = Rs. 10,000
(ii) Machine running hours 2040 hours per machine per annum including idle time of 40 hours due to repairs and maintenance and breakdown of machine.
(iii) Power consumption of the machine per hour = 20 units; Rate of power per 100 units = Rs. 80.
(iv) There are two operators in the shop and wage of an operator who is in-charge of two machines is Rs. 12,000 p.a.
(v) Rent, rates and taxes of the shop Rs. 4,800 p.a.
(vi) Insurance premium for the machine Rs. 400 per quarter.
(vii) General lighting per month Rs. 600.
(viii) Repairs and maintenance expenses per month Rs. 400 per machine.
(ix) Shop supervisor’s salary per month Rs. 1,500.
(x) Other factory overhead allocated to the shop Rs. 6,000 p.a.
There are four identical machines in the shop. The supervisor devotes 1/5th of his time for supervising the machine.
6. (a) What do you mean by contract costing? Discuss different types of contract. Also explain how contract costing is different from job costing. 4+3+7=14
Or
(b) Bengal Chemical Co. Ltd. produced three chemicals during the month of July 2023 by three consecutive processes. In each process, 2% of the total weight put in is lost and 10% is scrap which from Processes – 1 and 2 realize Rs. 100 a ton and from Process – 3 Rs. 20 a ton.
The products of three processes are dealt with as follows:
Prepare Process Cost Accounts showing the cost per ton of each product. 14
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