CA Intermediate September 2026 Question Paper Paper 4 Cost and Management Accounting

FOR CA INTERMEDIATE EXAM PREPARATION

CA Intermediate 2026
Question Paper · Paper
4 Cost and
Management
Accounting
EXAM YEAR TYPE

CA Intermediate 2026 Question Paper
SUBJECT DATE

Paper 4 Cost and Management Accounting September 2026

Notes · Sample Papers · Previous Year Papers · Mock Tests

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08. SEP 2026
INTERMEDIATE EXАМ
26
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9/20

31P
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PAPER-4

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F081 S:
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Cost & Manageme
nt Accounting

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Question Paper Booklet No.
g 5050789
GENERAL INSTRUCTIONS TO CANDIDATES

1. The question paper comprises two parts, Part I and Part II.
2. Part I comprises Multiple Choice Questions (MCQs).
3. Part II comprises questions which require descriptive answers.
4. Answers to Questions of Part I (i.e., MCQs) are to be marked on the OMR answer sheet as given on the
cover page of descriptive answer book only. Answers to questions in Part II (i.e. descriptive questions) are
to be written inside the descriptive answer book. Answers to MCQs, if written inside the descriptive answer
book will not be evaluated.
5.
OMR answer sheet given on the cover page of descriptive answer book will be in English only for all

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candidates, including for Hindi medium candidates.

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6. The bar coded sticker provided in the attendance register, is to be affixed only on the descriptive answer book.

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You will be allowed to leave the examination hall only after the conclusion of the exam. If you have completed

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7.

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the paper before time, remain in your seat till the conclusion of the exam.

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8. Duration of the examination is 3 hours. You will be required to submit the descriptive answer book with

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OMR cover page to the invigilator before leaving the exam hall, after the conclusion of the exam.

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9. The invigilator will give you acknowledgement on Page 2 of the admit card, upon receipt of the descriptive

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answer book.

10. Candidate found copying or receiving or giving any help or defying instructions of the invigilators or
having/using mobile phone or smart watch or any other electronic gadget will be expelled from the examination
and will also be liable for further punitive action.
PART.

1. Answer all MCQs, on the OMR Answer Sheet as given on the cover page of descriptive answer book.
2. Use HB pencil only to darken the circles for MCQ answers in the answer sheet.
3. After each MCQ, four options have been given. Choose the correct or most appropriate option and darken
the corresponding circle against the question number in the OMR Answer Sheet, completely, as shown below,
with HB pencil.

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Marking the Answers

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Not as shown below

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Example:

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For Question No. 12, if the (Wrong method) :

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candidate considers the correct 12 A (B (e (D

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answer to be C, he is to mark as

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12 A B D

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shown below (Correct Method).
12 A (B C D
12 A B D
12 A B (D

12 A D

4 Any answer to MCQ marked inside descriptive answer book will not be considered and no marks will be awarded.
5
If a candidate wants to change the option already darkened, he should erase it completely, with good quality
eraser and ensure that no mark is visible after erasing.
6. No mark will be awarded if no circle is darkened or more than one circle is darkened for a particular MCQ.
There is no negative marking for a wrong answer.

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7. Rough work, if any, must be done on the pages, specified as SPACE FOR ROUGH WORK only and nowhere

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else in the question paper booklet or in the answer sheet.

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8. Before commencement of the exam, please fill up the necessary information in the space provided below and

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also in the answer sheet.

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Total No. of Printed Pages: 48 Maximum Marks: 100

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Question Paper
T WM(H)
a
Roll No.
Booklet Code

Name of the Candidate

Signature of the Candidate

2

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(2)

PART -I 30 Marks

(MCQ Portion)

Answers to MCQs are to be marked on the OMR answer sheet as given on the cover

page of the descriptive answer book only. Answer to MCQs, if written inside the

descriptive answer book shall not be evaluated.

Please write and darken correct Question paper booklet number in the OMR answer

sheet. The correct Question paper booklet number must also be written in the

attendance register.

Case Scenario - I:

GNPL is a food processing company specializing in agricultural products. It
purchases produce directly from farmers and makes packaged food products.

GNPL is interested in understanding the profitability of its products based on

customer type. Three main customer categories have been identified by the
Marketing Department: Distributors, Supermarkets and Online Customers. The

following information relates to the year just ended :
Table -I

Customer level
Activity Cost Driver
operating cost ()
Product handling 10,08,000 Quantity sold (kgs)
Processing of customer orders 20,80,000 Number of sales orders

Cost of Transportation to customer 59,20,000 Kilometres travelled

Customer Visits 19,20,000 Number of customer visits

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 2 of 24

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Table - II

Distributors Supermarkets Online

Quantity Sold (kg) 1,25,000 65,000 62,000
No. of sales orders 42
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238 370

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Kilometres travelled

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8,975 8,800 5,350

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No. of customer visits

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35 179
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Listed Selling price ( per kg) 660 660 660
Discount 10% 15% 20%

Cost of goods sold (excluding 460 460 460

customer level operating cost)

( per kg)

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On the basis of the above Case Scenario, you are required to answer the
following

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MCQs 1 to 5:

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1. What is the cost of customer visits incurred category
a
on customer
'Distributors'?
2
(A)2,61,400

(B)2,14,600

(C)2,24,000

(D)2,42,000
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2. What is the cost of transport for 'Online' customer category?

e(A)13,69,600 la
2

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la (B)13,74,400 ag
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(C) 13,55,600
(D) 13,84,400

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(4)

3. What is the cost of activities (tabulated in Table - 1) as a percentage of the

sales revenue net of discount for 'Supermarkets' category? 2

(A) 12.12%

(B) 10.30%

(C) 9.19%

(D) 8.65%

4. What is the total customer-level operating cost of all activities for

'Distributors' category? 2

(A)32,65,000

(B)31,56,000

(C)30,25,000

(D) 29,95,000

5. What is the customer level operating income for 'Online' Category? 2

(A)8,64,000

(B) 9,12,000

(C) 12,25,000

(D)12,65,000

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 4 of 24

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(5)
Case Scenario - II :

ABCD Ltd. manufactures two types of
products - WM for women and KD for
children. These are sold in containers of one kg each. Raw
materials W and M are
used for product WM and raw materials K and
D are used for product KD. There is

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no process loss or scrap unit. During the second

m of 262 containers of WM and 190 containers
quarter (July to September 2026),

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the company expects a market demand
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KD. The following addim
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of

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tional information is given:

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a Product WM
Product KD
Raw Material
% of Raw Material Cost per kg ()
% of Raw Material

W 75%
225
M 25%
440

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K

.
40% 315

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D

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60% 380

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Actual Quantity Budgeted Quantity
Stock
as on 01-07-2026 as on 30-09-2026
W (kgs) 22 16
M (kgs)
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13
K (kgs)
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24

D (kgs) . e
21

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s
34

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32

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agKD (containers)
WM (containers) 20
18
38 28

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(6)

On the basis of the above Case Scenario, you are required to answer the following

MCQs: (6 to 10)
6. How many containers of KD will be produced in the quarter according to the
2
production budget?
(A) 190
(B) 218
(C) 180
(D) 200

7. How many kilograms of raw material M will be consumed as per raw material
2
budget?
(A) 195 kgs
(B) 65 kgs
(C) 65.5 kgs
(D) 78 kgs

8. How many kilograms of raw material K will be purchased as per raw material
2
budget?
(A) 64 kgs
(B) 69 kgs
(C) 61 kgs
(D) 93 kgs

9. What is the value of budgeted raw materials purchase () during the quarter

for WM? 2

(A) 65,112.50
(B) 72,807.50
(C) 72,475
(D) 73,765

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 6 of 24

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10. How many kilograms of WM will be the budgeted production in the quarter? 2

(A) 262 kgs

(B) 260 kgs

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(C) 280 kgs

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(D) 244 kgs
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l costing and has the following information for ag
11.
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J Ltd. usesprocess the month of

August 2026 :

Particulars Units

Beginning work in progress, (WIP) August 1 8,000

m 50,000
Started fresh units in production during August

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(besides opening WIP)

Completed production during August
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46,000

Ending work in progress, August 31 a 12,000

The beginning work in progress was 60% complete for materials and 20%

complete for conversion costs. The ending inventory was 80% complete for

material and 40% complete for conversion costs. Using the FIFO method,

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what will be the equivalent units of production for conversion costs? 2

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la (C) 50,800 ag
units

ag units

(D) 51,400 units

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(8)

12. In a factory, standard time for a job is 72 hours. The hourly-rate of wages is

60. Halsey Premium Plan is in operation at the factory. A worker completes

the job at less than standard time and his effective hourly-rate wages was 75.

2
How many hours did he actually take to complete the work?

(A) 60

(B) 72

(C) 48

(D) 64

13. The following information is available in respect of an item of inventory in a

factory that uses FIFO (First In First Out) method of valuation of issues. The
opening stock was 150 units @ 40 per unit. The following transactions have
2
taken place:

Received Units Rate Issued Units
Day
(in Numbers) (१) (in Numbers)

1 25 50

2 300 52

3 340

4 200 50

5 300

6 100 40

The value of material issued on Day 5 is:

(A) 15,200

(B) 15,300
(C) 15,270
(D) 15,230

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 8 of 24

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14. A company sells handcrafted labour-intensiv
e gift items. A certain urgent
order at a fixed selling price entailed 200 overtime hours. The overtime
premium per hour was 300. Of these hours, 150 were due to extra work

above capacity, whereas 50 hours were due to rework that arose due
to faulty

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material purchased and not inspected by the "Raw Materials" Section
, a cost

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centre. What will be the appropriate treatment of overti

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me premium? 2

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(A) The premium of 60,000 is charged

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entire urgent order.

la 45,000 charged
to the

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(B)
aMaterials Section.
Premium of₹ is
order and to the
15,000 charged is to
the

(C)60,000 is charged to the Costing P and L A/c.
(D)60,000 is treated as material cost and added to cost of defective
material.

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15. A factory has installed a new machine which
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em However, the
has a brochure claiming that it

can produce 60,000 of product
units
s
laays, stock taking and
per X annum.

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company
estimates due
that to
a
Sundays and holid repairs, minor
production can be achieved only to the extent of 50,00
0 units. Further, time
lost on batch change will reduce this to 40,000
units. Which of the following
is not correct ?
2
(A) Normal Capacity is 40,000 units.

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(B) Installed Capacity is 60,000 units.

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Practical 60,000 units.
is not

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as units.

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TWM(H) Π

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(10)

PART - II 70 Marks

(Descriptive Portion)
(Candidates are required to give descriptive answers for this part inside
the answer book)

1. Question paper comprises 6 questions. Answer Question No. 1 which is
compulsory and any 4 out of the remaining 5 questions.
2. Working notes should form part of the answer.
3. Answers to the questions are to be given only in English except in the case of

candidates who have opted for Hindi Medium. If a candidate has not opted
for Hindi Medium, his/her answers in Hindi will not be evaluated.
4. Candidates are required to write the question number legibly.

1. (a) A company manufactures two products - DSP and EM. It has adopted 7

marginal costing for managerial decision-making and has provided the
following information for the coming year :
DSP EM Remarks

Selling Price per unit () 15,000 10,000

Variable costs per unit () 9,000 4,600

Maximum Demand for 700 720 Any quantity at or below this

the year (in units) limit can be readily sold in
the market.

Maximum Production 770 units of DSP and EM put

Capacity together (any one or both can

be produced but the overall

limit is 770 units).

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 10 of 24

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(11)
Fixed Expenses () 6,00,000 Incurred only if DSP is
manufactured.

2,16,000 Incurred only if EM is

manufactured.

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Other Fixed expenses

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18,00,000 incurred whether

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(excluding the above)

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any product is made or not.

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Assume no inventory is built up. Whatever is produced is sold.

ae make any of the products
The company
can choos to or both the products without affecting
its future prospects.

Requirement :

Calculate the optimum profit for the year in
rupees giving the product mix (in
units).

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(Present only relevant figures. Detailed statements are
.
not

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(b) Ultramagic Ltd. manufactures a produ
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ct TM for tourist recreational

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purposes. As per the estimates provided by the tourism
industry, there
will be a market demand of 12,500 units of TM in the
coming year.
Ultramagic Ltd. is expected to have a market share of 16% of the total
market demand of TM.

The company produces one unit of TM from one unit of raw
material

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RW which is purchased at 2,500 per unit.

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Other Information :

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cost per order 4,000

gla Storage
a
rate 9% per annum
Interest rate
5% per annum
Obsolescence rate
2% per annum

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(12)

Required:
(i) Compute the Economic Order Quantity (EOQ). 2

(ii) Compute the corresponding ordering cost per annum. 2

3
(c) Textiles Manufacturing Co. has two production departments: Fibers

(FIB) and Fabrics (FAB) and two service departments - FC and DD
which also render services to each other.

The following information is given:

Service Departments' expenses before allocation :

Amount ()

FC 3,00,000

DD 1,20,000

Usage of Services:

Fibers Fabrics
FC DD
(FIB) (FAB)

FC 40% 40% 20%

DD 40% 30% 30%

Use simultaneous equation method and find out the total expenses of FC.

7
2. (a) Vivida Ltd. manufactures two products - Ace eyeglasses & Sharp
eyeglasses using various types of materials and one grade of labour -

general optical technicians who cut lenses, drill frames and align hinges.

Shown below is an extract from the company's working papers for the
next month's budget:

Π TWM(H)

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 12 of 24

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Ace eye- Sharp eye-
glasses glasses
Budgeted sales (in units) 1,100 2,200

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Standard labour hours allowed per
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3 4.5

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unit of product at full productivity
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lis paid ag
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a worker
Labour at 30 per hour. Overtime premium is 60% and
is payable
only if a works for more than 45 hours a week. There are
110
direct workers. Assume that they can work on either product
equally
efficiently. Efficiency during normal working hours may be taken to be
the same as in overtime hours also.

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The target productivity for the productive hours worked by the direct

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workers in actually manufacturing the products is 75%. In additio

budgetedem15% of the productive
n, the

s
non-productive down-time

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is

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at hours

g
worked.

There are four
a
5-day weeks the budgeted period and it is antici
in pated
that sales and production will occur evenly throughout
the whole period.
The following information is given :

Ace eye- Sharp eye-

m
glasses glasses

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c. o Closing Stock m
Opening Stock (units) 125 140

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5 days' sales

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4 days' sales

l a
ag Calculate the Wages Budget for the direct workers, showing the
quantities and values for the next month.

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(14)

(b) Arrow Precision Components Ltd. is a manufacturer of high-quality 7

aerospace and defence parts. The following are the details of expenses

incurred for the year ended 31st March, 2026 :

Particulars Amount ()

(i) Opening Stock of Raw Materials 28,50,000

(ii) Closing Stock of Raw Materials 32,75,000

(iii) Purchase of Raw Materials 3,45,80,000
(iv) Direct Labour 1,68,40,000

(v) Factory Overhead 67,36,000

(vi) Administrative Overhead 42,10,000
During the financial year 2026-27, the company has received a special

order from a leading aircraft manufacturer for the supply of one type of

component manufactured by the company. The estimated cost of

materials and direct labour for this order are 25% of last year's actual

consumption and 72,50,000 respectively. Assume no work-in-process

for both the years.

The company follows the policy of charging Factory Overhead as a

percentage of Direct Labour and Administrative Overhead as a

percentage of Factory Cost based on the previous year's actual costs. The
cost of delivery and installation at the customer's site is estimated at

8,40,000. The company wants to safely consider an additional 10% on

the calculated estimates for material and labour. Overheads are also to be

taken after considering this factor. The company will decide on the profit

margin based on total costs considered as per its policy and market
conditions.

For more Question Papers, Sample Papers, Notes & Syllabus visit Page 14 of 24

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You are required to :

Prepare a Job Cost Sheet for the order received
and determine the total
cost to be considered as per the comp
any's policyу.
(Present figures in rupees.)

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(Round off percentages to two decimal plac
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es and figures to the next rupee.)

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3. (a)
l a s
During the finalisation of accounts for the peri
od ended 31st August,
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ag Management of M/s. ZPT Ltd. observed that the profit
7
2026, the

disclosed by the Cost Accounts differed from
that shown by the Financial
Accounts.

The following information was extracted from
the books :

Profit as per Cost Accounts amounted to
9,80,000.
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On investigation, the following items were identi
c. ofied:
m in Cost
under-absoerbed
s
(i)
la
Factory overheads were the Accounts by
₹ 16,000.
a g
(ii) Administration overheads were over-absorbed
in the Cost Accounts
by9,000.

(iii) Depreciation charged in the Financial Accounts exceeded the
depreciation recovered in the Cost Accounts by 18,000.

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(iv) Interest on bank deposits amounted to* 28,000.

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c. (v) e m
em (vi) Profit sale of investments s
Provision for Income Tax was

a
1,60,000.

s g l
la (vii) Charges lieu of a
on

g
15,000. amounted to

a for owned premises
in rent 6,000. were ₹

(viii) Donation amounted to 10,000.

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(16)

Required :

Prepare a Reconciliation Statement starting from the profit as per Cost

Accounts and arrive at the profit as per Financial Accounts while
maintaining the serial order given above for adjustments.
(Candidates may use shorter forms of the items instead of writing the

whole lines as described in the question.)

(b) BH Transit Services Ltd. has been awarded a contract to operate a 72- 7

kilometre intercity route using 8 deluxe buses during the next year. Each

bus has a seating capacity of 60 passengers. The buses are expected to

make 4 round trips per day, carrying on an average, 80% of their seating

capacity. The buses will run for 26 days in a month. Assume that the

buses operate as a point to point service with no stops intervening during

a single trip of 72 kilometres.
The following information relates to the operating cost of the service :

Garage rent : 48,000 per month (Total for all buses)
Annual repairs and maintenance: ₹ 1,92,000 per bus

Total salaries of all drivers, conductors, cleaners and managers for the

year (Total for all buses) 60,28,800

Road tax, permit fee, etc.: ₹ 48,000 for a quarter (Total for all buses)

Total Office expenses : 20,000 per month

Cost of diesel per litre: 108, Diesel Usage : 6 kilometres per litre

Annual depreciation and Insurance: 24% of cost

Engine oils and lubricants: ₹ 56,30,000 (Total for all buses for the whole

year).
The cost of each bus is60,00,000.

Π TWM(H)

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(17)
TWM(H

However, during the year, two buses are expected to be under major

servicing for one month each and therefore those buses will run only for

11 months, while the remaining 6 buses will operate for the whole year.

The company targets a profit of one third of revenue.
m
o m
Present the following figures :
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c
(i) Kilometres . by all vehicles for the whole year. e m
e m l a s
s
run

l a ag
agfor all the buses.
(ii) Number of passengers the trips put together for the whole
in all

year

(iii) Diesel Cost in total for the whole year.

Calculate the one-way bus fare to be charged from each passenger,

rounding off to the next higher rupee value.

o m
c
employs workforce classified into .Skilled, Semi-Skilled and
(a)
e m
4. 9

s
XYZ Ltd.

categories
g la
manufacture
for its of precision-engineered

a
Unskilled

automobile components.

In the month of August 2026, the Production Department completed the

manufacture of 5000 units of Product X.

The following information is available :

Budgeted Labour Requirement for manufacturing 2 units of Product X.
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m (per hour) . c
c. oLabour Category e m
Standard Hours Standard Rate

em la s
las g
Skilled 2 6

g a
a Semi-skilled 3 5

Unskilled 5 2

TWM(H) Π

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(18)
Actual Labour Details:

Labour Actual Hours paid Abnormal Idle Actual Amount

Category (including abnormal time (hours) Rate ( (१)

idle hours)

Skilled 6,000 200 7 42,000

Semi-skilled 8,000 300 4.5 36,000

Unskilled 11,000 400 2.5 27,500

Total 25,000 900 1,05,500

Required:

Compute category wise labour cost variances analysed into mix,

efficiency, yield and rate variances, indicating whether they are Adverse
(A) or Favourable (F).

(b) New Pharma Chemicals Ltd. manufactures pharmaceutical-grade

solvents for the drug formulation industry. Production passes through a
series of processes and the company operates a FIFO process costing

system to value work-in-process and finished goods.

The following information is given:

Opening work-in-process at the beginning of the month was 800
litres which was 70% complete for labour and 60% complete for

overheads.

Closing work-in-process at the end of the month was 160 litres
which was 30% complete for labour and 20% complete for

overheads.

Π

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Normal loss is 10% of input; total losses during the month were

1,800 litres, partly attributable to flood damage. Abnormal losses

occurred in the production shop floor just before despatch to the

warehouse.

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Output transferred to the finished goods warehouse was 4,200 litres.

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All raw materials
a
introduced at the commencement of the

e
are

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process.

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Required:

(i) Calculate the quantity (in litres) of raw material input during the 2
month.

(ii) Calculate the quantity (in litres) of normal loss and abnormal loss. 1

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(iii) Calculate the equivalent units of labour and overheads completed in
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(a) The following data is given in theabooks :
7

Particulars
Amount ()

Opening Inventories:

Raw materials 15,00,000

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Work-in-process

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20,00,000

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c. oClosing Inventories: m
Finished goods (12,000 units)
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10,80,000

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Raw 16,50,000

Work-in-process 18,00,000

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(20)

Raw materials purchase 1,68,00,000

Wages paid to production workers 40,00,000

Expenses paid for utilities 2,50,000

Office and administrative expenses paid (General) 30,00,000

Travelling allowance paid to office staff 1,50,000

Selling expenses 7,00,000

Machine hours worked 24,000 hours

Machine hour rate 10 per hour

Units sold (on FIFO basis) 1,80,000 units

Units produced 2,10,000 units

Desired profit 20% on sales

Compute the values of the following figures in rupees as they will appear

in the Cost Sheet:

(i) Prime Cost

(ii) Cost of Production

(iii) Cost of Goods Sold

(iv) Cost of Sales

(v) Sales Revenue

(You are not required to present the entire cost sheet. Present relevant

figures only.)

TWM(H(

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