We strongly recommend studying this Gauhati University FYUGP NEP BCom 4th Sem Cost and Management Accounting question paper 2024 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.
2024
COMMERCE
(Honours Core/Regular)
Paper: COM-HC-4016/COM-RC-4026
(Cost Accounting)
Full Marks: 80
Time: Three hours
The figures in the margin indicate full marks for the questions.
Answer either in English or in Assamese.
1. Answer the following as directed: (1 × 10 = 10 marks)
(a) Cost accounting is a tool used by management for________.
(Fill in the blank with appropriate word)
(b) Aggregate of direct costs is referred to as _______ cost.
(Fill in the blank with appropriate word)
(c) The difference between attendance time and work time is known as _______
(Fill in the blank with appropriate word)
(d) Abnormal loss of material is charged to costing Profit and Loss Account. (State whether the statement is true or false)
(e) Idle time arises only when workers are paid on_______basis of wages payments. (Fill in the blank with appropriate word)
(f) Variable cost per unit remains constant. (State whether the statement is true or false)
(g) Contract costing is also known as
(i) process costing
(ii) terminal costing
(iii) job costing
(iv) batch costing
(Select the correct answer)
(h) In job costing, the cost of an incomplete job is termed as_____.(Fill in the blank with appropriate word)
(i) Overtime work is to be paid for at_____ the normal rate. (Fill in the blank with appropriate word)
(g) The method of costing used in a factory manufacturing similar products in large quantities is
(i) process costing
(ii) terminal costing
(iii) job costing
(iv) batch costing
(Select the correct answer)
(j) What is notional profit?
2. Answer the following questions: (2 × 5 = 10 marks)
(a) What is unit cost?
(b) Write two benefits of time and motion study.
(c) What is meant by semi-variable overhead?
(d) Write two features of contract costing.
(e) State the meaning of overtime.
3. Answer any four of the following questions: (5 × 4 = 20 marks)
(a) Mention five benefits of cost accounting.
(b) From the following information, prepare a cost sheet showing cost per unit and profit for the month of January, 2024:
Raw materials consumed: ₹ 80,000
Direct wages: ₹ 48,000
Machine hour worked: 8,000 hours
Machine hour rate: ₹ 4 per hour
Office overhead: 10% of works cost
Selling overhead per unit: ₹ 1.5
Units produced: 4,000 units
Units sold: 3,600 units @ ₹ 50 each
(c) Following information, relating to a type of raw material, is available:
Annual demand: 6,400 units
Unit cost: ₹ 6
Carrying cost: 25% of unit cost
Procurement cost: ₹ 75 per order
Calculate EOQ and number of orders per annum.
(d) Explain briefly the needs of labour cost control.
(e) Write five features of overhead cost.
(f) Write five differences between job costing and contract costing.
4. Answer any four of the following questions: (10 × 4 = 40 marks)
(a) Explain the factors to be considered for installation of a costing system.
(b) Explain 'maximum level', 'minimum level', and 're-ordering level' of materials stock maintained in an organisation.
(c) North-East Manufacturing Company uses rubber, which is purchased according to requirement, from the market. Following purchases and issues were made during the month of March, 2024:
March 1: Opening stock 2,000 kg @ ₹ 5 each
March 3: Issued 1,500 kg
March 4: Purchased 4,500 kg @ ₹ 6 each
March 7: Issued 1,600 kg
March 8: Return by production department 100 kg (Issued on March 3)
March 15: Purchased 2,400 units @ ₹ 6.50 each
March 18: Return to supplier 200 units (Purchased on March 4)
March 24: Purchased 1,000 units @ ₹ 7 each
March 26: Issued 2,100 units
March 27: Purchased 1,200 units @ ₹ 7.50 each
March 31: Issued 2,800 units
From the above information, prepare Storage Ledger by applying FIFO method.
(d) What is meant by labour turnover? What would be possible effects of labour turnover on the cost of production? (2 + 8 = 10 marks)
(e) Following are the information related to earning of a worker for a week:
Weekly working time 48 hours
Hourly wage rate 7.50
Rate per unit ₹3-00
Normal time taken per unit 24 minutes
Normal output per week 120 units
Actual output per week 150 units
Calculate the earning of the worker for a week under -
(i)straight price rate
(ii) Halsay premium scheme
(iii)Rowan premium scheme 2+4+4=10
(f) What is meant by machine hour rate? Mention the steps required to compute machine hour rate. (2 + 8 = 10 marks)
(g) A product passes through two processes. The output of process I becomes the input of process II and the output of process II is transferred to warehouse. The quantity of raw materials introduced into process I is 20,000 kg. The cost and output data for the month of January 2024 are as under:
The company fixes selling price on end product at a margin of 20% on cost. Prepare the Process Account and determine the selling price per unit.
(h) Following are the summary of transactions obtained from the costing records of Sri Ram India Limited:
Purchase ₹ 2,00,000
Production wages paid ₹70,000
Stock issued to production order ₹80,000
Works expenses charged to production ₹45,000
Finished goods transferred from production orders 2,22,000
Administrative expense charged to production 15,000
Work expenses outstanding 12,100
Work expenses paid ₹25,000
Pass Journal entries for the above transaction under integral system of accounting.
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2024
COMMERCE
(Honours Elective)
Paper: COM-HE-5016
(Management Accounting)
Full Marks: 80
Time: Three hours
The figures in the margin indicate full marks for the questions.
Answer either in English or in Assamese.
1. Answer as directed: (1 × 10 = 10 marks)
(a) Management Accounting deals with both quantitative and qualitative information.
(State whether the statement is True or False)
(b) Define Management Accounting.
(c) _______ ratio is useful for measuring the short-term liquidity.
(Fill in the blank)
(d) Sale of fixed assets for cash will improve the current ratio.
(State whether the statement is True or False)
(e) What do you mean by cash budget?
(f) State the meaning of budgetary control.
(g) Contribution is the difference between the sales and the total cost of sales. (State whether the statement is True or False)
(h) What is break-even point?
(i) The difference between actual cost and standard cost is known as (
(a) variance
(b) profit
(c) differential cost
(d) loss (Choose the correct answer)
(j) State the meaning of standard cost.
2. Give brief answers to the following questions: (2 × 5 = 10 marks)
(a) Mention two limitations of standard costing.
(b) Write a brief note on margin of safety.
(c) Write any two objectives of Management Accounting.
(d) Mention two objectives of Financial Statement Analysis.
(e) What is current ratio?
3. Answer the following questions: (any four) (5 × 4 = 20 marks)
(a) Explain briefly the scope of Management Accounting.
(b) Describe briefly liquidity ratios used to measure the liquidity of a firm.
(c) State the basic characteristics of marginal costing.
(d) Explain briefly labour cost variance.
(e) Write the distinctions between fixed budget and flexible budget.
(f) Write a brief note on comparative statements.
4. Answer the following questions: (any four) (10 × 4 = 40 marks)
(a) Explain different tools and techniques of Management Accounting in the areas of decision-making.
(b) Write any five limitations of Management Accounting. How does Management Accounting differ from Cost Accounting? (5 + 5 = 10 marks)
(c) "Marginal costing technique is a valuable aid to management in taking many managerial decisions." Explain the statement with reference to managerial application of marginal costing.
(d) (i) 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 Current Assets,Current Liabilities and Liquid Assets. (5 marks)
(ii) How is the Common Size Statement different from Comparative Statement? (4 marks)
(e) Following are the information obtained from the books of Bajaj India Ltd.:
Fixed Cost = ₹ 1,60,000
Sales = ₹ 100 per unit
Variable cost = ₹ 90 per unit
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 (2 × 5 = 10 marks)
(f) From the following data, prepare a cash budget for the three months April to June, 2023 of an organisation:
Further Information :
(i) 10% of sales is realised in the month of sale and the balance is realised equally in two subsequent months.
(ii) Creditors allow a credit of one month.
(iii) 20% of the wages of a month remains as arrear which is paid in the following month.
(vi) Sundry expenses are paid in the month itself.
(v) Income tax ₹ 20,000 and dividends ₹ 12,000 are payable in June.
(vi) Cash in hand on 1-4-2023 was ₹ 40,000.
(g) From the following information regarding a standard product, calculate:
(i) Labour cost variance
(ii) Labour rate variance
(iii) Labour efficiency variance
(4 + 3 + 3 = 10 marks)
Hours per unit 10 hours
Units produced 500
Hours worked 6000
Actual Labour cost ₹ 2,400
(h) The standard materials required for producing 100 units is 120 kgs. A standard price of 0.50 paise per kg is fixed and 2,40,000 units were produced during the period. Actual materials purchased were 3,00,000 kgs at a cost of ₹ 1,65,000.
Calculate:
(i) Material cost variance
(ii) Material price variance
(iii) Material usage variance (4 + 3 + 3 = 10 marks)
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