CBSE Class 12 Sample Paper 2022 for Cost Accounting Term 1

CBSE | DEPARTMENT OF SKILL EDUCATION
COST ACCOUNTING (SUBJECT CODE-823)
CLASS XII (SESSION 2021-2022)
BLUE-PRINT FOR SAMPLE QUESTION PAPER FOR TERM -1
Max. Time Allowed: 1½ Hours Max. Marks: 30

PART A - EMPLOYABILITY SKILLS (05 MARKS):

NO. OF QUESTIONS
UNIT NO. NAME OF THE UNIT
(1 MARK EACH)
Communication Skills-IV
1 2
Self-Management Skills-IV
2 2
Information and Communication Technology Skills-IV
3 2
TOTAL QUESTIONS 6 Questions
NO. OF QUESTIONS TO BE ANSWERED Any 5 Questions
TOTAL MARKS 1 x 5 = 5 marks

PART B - SUBJECT SPECIFIC SKILLS (25 MARKS):

UNIT NO. OF QUESTIONS
NAME OF THE UNIT
NO. (1 MARK EACH)
Single or Output Costing
1 11
Job Costing and Batch Costing
2 11
Contract Costing
3 10

TOTAL QUESTIONS 32 Questions

NO. OF QUESTIONS TO BE ANSWERED 25 Questions

TOTAL MARKS 1 x 25 = 25 MARKS

823-SQP-XII-Term 1 (2021-22) 1

CBSE | DEPARTMENT OF SKILL EDUCATION
COST ACCOUNTING (SUBJECT CODE-823)
CLASS XII (SESSION 2021-2022)
SAMPLE QUESTION PAPER FOR TERM -1
Max. Time Allowed: 1½ Hours Max. Marks: 30

General Instructions:
1. Please read the instructions carefully
2. This Question Paper is divided into 03 sections, viz., Section A, Section B and Section C.
3. Section A is of 05 marks and has 06 questions on Employability Skills.
4. Section B is of 20 marks and has 25 questions on Subject specific Skills.
5. Section C is of 05 marks and has 07 competency-based questions.
6. Do as per the instructions given in the respective sections.
7. Marks allotted are mentioned against each section/question.
8. All questions must be attempted in the correct order
SECTION A

Answer any 5 questions out of the given 6 questions on Employability Skills (1 x 5 = 5 marks)

1. Which of the following are not the characteristics of an ideal message? 1
a) Clear
b) Concise
c) Accurate
d) Illusionary
2. Which of the following is not the common personality disorder? 1
a) Schizoid
b) Avoidant
c) Dependent
d) Living in the present
3. ________ are the individual pages of a presentation. 1
a) Spreadsheets
b) Rows
c) Columns
d) Slides
4. “Cost accountant wants to print a spreadsheet by using short cut through 1
keyboard in order to provide some information to the management.” Which short
cut keys he should use?
a) CTRL + S
b) CTRL + P
c) CTRL + X
d) CTRL + V

823-SQP-XII-Term 1 (2021-22) 2

5. ____________is the ability to control one’s emotions, thoughts and behaviour 1
effectively in different situations.
a) Motivation
b) Direction
c) Self-management
d) Leadership
6. Communication involves a sender, who ______and sends a message through a 1
channel, and a receiver, who ________the message and gives feedback.
a) encodes, decodes
b) decodes, encodes
c) encodes, customize
d) customize, decodes
SECTION B
Answer any 20 questions out of the given 25 questions (1 x 20 = 20 marks)
7. Office cost is the summation of factory cost and ___________overheads. 1
a) Factory
b) Selling
c) office and administrative
d) distribution

8. Work Cost is the summation of: 1
a) Prime cost and Office overheads
b) Office cost and selling overheads
c) Prime cost and work overheads
d) Office cost and distribution overheads

9. Cost of Sales is derived by adding ________overheads to the cost of goods sold. 1
a) Works
b) Office and administrative
c) direct
d) selling and distribution
10. To compute Cost of goods sold opening stock of ______ goods is added and closing 1
stock of _______goods is deducted in cost of production.
a) Raw, Semi-finished
b) Finished, Finished
c) Raw, Finished
d) Finished, Raw
11. Work in Progress is in the form which is 1
a) Ready to be sold
b) Ready to be used as raw material
c) Ready to be worked upon for further processing
d) Ready to be kept in warehouse
12. Factory cost is not named as: 1
a) Work Cost
b) Administrative Cost
c) Manufacturing Cost
d) Production Cost

823-SQP-XII-Term 1 (2021-22) 3

13. Which of the following can be the another name of ‘Total Cost’? 1
a) Cost of goods sold
b) Prime cost
c) Cost of sales
d) Office cost
14. Assertion(A): Cost sheet is a statement that presents the total and per unit cost of 1
production with regard to any cost unit or cost centre for a specific period of time.

Reason(R): Cost sheet is also a managerial tool for cost manager to judge the
efficiency of production.
a) Both A and R are correct and R is the correct explanation of A.
b) A is correct but R is incorrect
c) A is incorrect but R is correct
d) Both A and R are incorrect

15. Depreciation on plant is: 1
a) Prime Cost
b) Factory overheads
c) Distribution overheads
d) Office overheads

16. Assertion(A): Prime cost, work cost, office cost and total cost are components of 1
cost sheet.
Reason(R): Cost sheet tells about quality and labour efficiency of the production.

a) Both A and R are correct and R is the correct explanation of A.
b) Both A and R are incorrect but R is the correct explanation of A.
c) A is correct but R is incorrect
d) A is incorrect but R is correct

17. When job is___________, 'Job completion Report' is sent to the costing 1
department for ascertaining the profits or losses occurred on the job.
a) in progress
b) Still pending
c) Completed
d) Unable to process
18. The document which provides information regarding the progress of each job at 1
each operation is known as:
a) Progress advice
b) Job ticket
c) Job order
d) Job identification number
19. Which of the following are not the components of job cost sheet? 1
a) Material
b) Labour
c) Overheads
d) Bad debts

823-SQP-XII-Term 1 (2021-22) 4

20. list of materials and stores required for a particular job is prepared by the 1
Production and Planning Department for the smooth execution of the job is known
as the ________________________.
a) bill of materials
b) Job report
c) Completion certificate
d) Progress report
21. Full form of ‘EOQ’ is: 1
a) Economics Ordering Quantity
b) Estimated Order Quantity
c) Essential Ordering Quantity
d) Economic Order Quantity
22. Which one of the following is not the objective of job costing? 1
a) It ascertains the cost of each job separately and also indicates the profit or
loss making jobs.
b) It helps the management in controlling the cost of each job by comparing
the actual cost with the estimated cost on each job.
c) It is very tedious task to maintain separate records for each job.
d) It helps in decision making regarding continuation or discontinuance of job.
23. Which one of the following costs would be an indirect cost in the manufacturing of 1
a LCD?
a) Electricity
b) Picture tube
c) Assemblers wages
d) LCD screen
24. Assertion (A): Progress advice is prepared to ensure the timely completion of each 1
job.
Reason(R): This indicates the stages of completion of each job therefore foreman
of each job sends it to the production and planning department.
a) A is Correct and R is the correct explanation of A
b) A is incorrect but R is correct explanation of A
c) Both A and R are incorrect
d) A is Correct but R is incorrect explanation of A
25. Which of the following industry doesn’t use ‘Batch Costing’? 1
a) Toys
b) Pharmaceutical
c) Watches
d) Shipping
26. All indirect expenses incurred on a job are called as_________. 1
a) Prime cost
b) Overheads
c) Finished product
d) Progress report
27. Profit or loss made on the contract is transferred to the ____________ account. 1
a) Manufacturing
b) Cost
c) Profit and Loss
d) Contractor
823-SQP-XII-Term 1 (2021-22) 5

28. Contract costing is a special form of ________costing also known as terminal 1
costing.
a) Process
b) Job
c) Financial
d) Service
29. The balance of money not paid by contractee is known as: 1
a) Protection money
b) Retention money
c) Contract money
d) Discount money
30. Which system of contract costing is employed in case where it is very difficult for 1
the contractor to quote the contract price because there is no precedent which
may
be taken as the basis?
a) Cost Plus
b) Sub-Contractor
c) Work-in-progress
d) Work uncertified
31. For bridge construction _______________costing is used. 1
a) Process
b) Batch
c) Contract
d) Service

SECTION C
(COMPETENCY BASED QUESTIONS)

Answer any 5 questions out of the given 7 questions (1 x 5 = 5 marks)
32. Direct material RS 40,000, Direct wages RS 18,000, Direct expenses RS 15,000, fuel 1
RS 2,500, Office overheads RS 8,100, selling overheads RS 19,800. The Prime cost
is:
a) RS 73,000
b) RS 75,500
c) RS 83,600
d) RS 1,03,400
33. A pharmaceutical company is having annual demand of its medicine 1,60,000 units. 1
For the production of units, company has to bear setting up and order processing
cost of RS 1,600. Cost of manufacturing one unit is RS 8000. Cost of carrying is 10%
per annum. What’s Economic Batch Quantity (in units)?
a) 800 units
b) 1600 units
c) 160 units
d) 80 units

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34. A provision in a contract for adjustment of prices quoted and accepted, in the 1
event of specified contingencies is called:
a) Material Clause
b) Escalation Clause
c) Work Clause
d) Overheads Clause

35. Work approved by the contractee or his nominee on a specific date is called: 1
a) Work Uncertified
b) Work Escalated
c) Work Certified
d) Work Distributed

36. Office Cost is also named as: 1
a) Cost of production
b) Cost of goods sold
c) Cost of sales
d) Office overheads

37. The following is the condensed record of the transactions of PK Industries as on 1
31st December 2021 relating to special contract completed during the year.
Materials bought RS 9,500
Materials issued from the stores RS 3,500
Wages RS 9,900
Direct expenses RS 3,700
Works overheads 25% of direct wages
The Prime cost of PK Industries for the special contract is:
a) RS 25,600
b) RS 26,600
c) RS 22,900
d) RS 32,000
38. S.V.C instruction Ltd has obtained a contract for the construction of a bridge.
Following information is shown in their books.
Plant purchased Rs.60,000
Wages paid Rs.3,40,000
Material issued Rs.3,32,000
Site expenses Rs.9,200
General expenses Rs.32,000
Wages accured Rs.2,800
Work uncertified Rs.14,000
Cash received being 80% of work certified Rs.6,00,000
Life of plant is five years.
Ascertain the amount to be transferred to Profit and Loss Account?
a) Rs.19,200
b) Rs.9,600
c) Rs.22,187
d) NIL

823-SQP-XII-Term 1 (2021-22) 7