DU SOL Question Paper 2018 B.Com (Hons.) Cost Accounting

This question paper contains l6+8 printed pages]

596

B.Com. (Hons.)ill G

Paper Code : B-102

Paper lX--{OST ACCOUNTING

Time '. 3 Hours Maximum Marks : 55

(ll'rite |ottr Rotl No. on the top innetliatels' on receip! of this question paper'1

Note '.- The maximum marks printed on the question paper are

applicable for the students of the regular colleges

(Cat.-A). These marks will. however, be scaled up

proportionately in respect of the students of NCWEB/

SOL at the time of posting of awards for compilation of

resu lt.

Note :- Answers may be written either in English or in Hindi;

but the same medium should be used throughout the

paper.

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\q) Distinguish between Cost Accounting and Financial

Accounting.

(b) A company manufactures a product having a monthly
product'
demand of 2000 units. For one unit of finished

2 kg of a particular item of raw material is needed' The

purchase price of the material is Rs' 20 per kg' The ordering

cost is Rs. 120 per order and the holding cost is
l0%o

per annum. Calculate :

(,) Economic order quantitY, and

(ri) Annual cost of purchasing and storage of the raw

material at that quantitY. 6

(3 ) 5%

Or

\a) Mention the factors rvhich should be considered in

installing a costing system in an organization'

(b) Prepare a Stores Ledger Card. using the FIFO method

of issue pricing. on the basis of the following

infonnation :

Sept. I Opening stock 20 units @ Rs. 2

l0 lssued l0 units

l5 Purchased 30 units @ Rs. 4

n I ssued 30 units

5 Purchased 40 units @ Rs. 5

1\ Received back in store : l0 units which rvere

on lOth Sept.

I ssued 20 units

P.T.O.

(4) 596

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2. fu) State the purpose served by Time-keeping and Tinte-

booking records of a factorY' 5

P.T.O.

(6) 5%

are recovered
(b) In a factory. the manut'acturing overheads

per labour-hour. The
at a Predetermined rate of Rs' | 5

the labour hours
total factorY overheads incurred and

2013 were Rs' 40
actually worked during the year

lakhand2lakh|abour.hoursrespective|y.outof40'000

2013' 30'000 units were
units produced during the year

sold.

found that 60Yo of
On analyzing the reasons' it was

due to defective planning
the unabsorbed overheads were

and the rest were attributable
to increase in overhead

costs.

factorY overheads
How would You treat the unabsorbed

during 20 13 in cost accounts ?

Or

What is labour turnover 'l What are
its catlses 1
(c)

(7) 5%

(b) From the lbllowing particulars for a particular month,

calculate :

(/) The anrount ofcash required for payment ofwages

for the rnonth. and

(tt Total labour cost to the employer lbr the month.

Wages for normal hours worked Rs. 60.500

Wages for overtime rvork Rs. 12.200

Leave wages Rs. 4.700

Employee's PF subscription Rs.6,100

Employer's contribution to PF Rs.4,400

House rent to be recovered from 30 employees @ Rs. r00

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I 5
Hour Rate
3. (a) Calculate Labour

100
Total No' of workers

a Year
Working daYs in
P.TO.

5%
(10)

Working hours per day

5o/o
ldle time

Rs. I,14,000
Factory overheads

Rs. 1,000
Gift to workers

article is Rs' 400 and the
(b) The works cost of a certain
and
The following direct selling
selling price is Rs' 800'

were incurred :
distribution expenses

Rs. 40
Freight

Rs. l0
lnsurance

Rs. 60
Commission

Rs. l0
Packing cases

for
and distribution expenses
The estimated fixed selling
of sales
and the estimated value
the year were Rs' 30'000

for the Year was Rs' l'50'000'

the total cost of the article
You are required to calculate

percentage on sales to
recover fixed
using the method of
6
selling and distribution
expenses '

( ll ) 596

&

A company manufactures two products P and Q, using the same

equipment and identical processes. An extract of the production

data for the year 2014 is as follows :

PQ

Units produced 5.000 7,000

Direct labour hours Per unit t2
.!
Machine hours Per unit JI

Total number of set-uPs l0 ,CI

Total number of orders handled 15 ffi

Annual overhead costs are :

Rs.

Relating to machine activitY 220,m0

Relating to production set-ups 20'000

Relating to order handling 45,000

2,85,000

P.T.O.

(12)

the production overheads
to be
You are required to calculate

product P and Q using
:
absorbed per unit of

labour
costing based upon direct
(,) the traditional absorption

hours, and

ll
(tD an activity based costing approach'

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(a) A city municipality arranges for the removal of garbage

by means of motor vehicular transport' The following

vehicles are maintained :

No. of Vehicles Specilications

30 5 tonne lorries

4 3 tonne lorries

On an average each lorry makes 5 trips a day and in

each trip covers an average distance of 6 kms' Each

lorry carries garbage weighing only 50% of its capacity'

Taking an annual average lDoh of the lorries are laid up

P.T.O.

(16) 596

for repairs every day. Assuming that a month consists

of 30 days, calculate the cost per tonne-km for removal

of garbage if the total monthly operating expenses are

Rs.2,18,700,

(b) A company maintains separate cost and financial accounts,

and the costing profit for a particular year differed to that

revealed in the financial accounts. Profit as per financial

accounts was Rs. 50,000. The following information is

available :

(/) Stock Values :

Cost Financial

Accounts Accounts

Opening stock of raw materials 5,000 5,500

Closing stock of raw materials 4,000 5J00

Opening stock of finished goods 12,000 15,000

Closing stock of finished goods 14,000 r6,000

( 17 ) )96

(ii) Dividend of Rs. I,000 was received by the co.

(tii) A machine with net book value of Rs. 10,000
sold during the year fbr Rs. 8.000.

(nJ The company charged l0%o interest on its opening

capital enrploy,ed of Rs. 80,000 ro its process costs.

You are required to determine the profit as per cost

accoullts.

Or

Fronr the following inforrnation prepare the process accounts,

normal and abnormal wastage accounts and abnormal effectives

account : il

Process A Process B Process C

Raw nraterials input

(2.000 units) Rs. 10.000

Direct rvages -5.000 15.000 r0,000

Manufacturing

overheads 4.680 2.90 3,600

P.T.O.

( 18 ) 5%

Normal wastage

(% of input) 2% lU/o 1tr/o

Realisable value of

\Yastage p.u. Rs. 2 Rs. l0 Rs. l0

Output (Units) t%0 1700 t550

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for
The following infonnation relate to a buitding contract

Rs. 10.00,000:

2012 2013

(Rs.) (Rs.)

Materials issued 3.00,000 84,000

Plant issued t4,000 2,000

Wages
2,52.ffi0 1,15,000

Overheads
6,000 1,400

Work certified 7,50,000 10,00,000

P,T.O'

(22 ) 5%

Work uncertified (cost) 8,000

Materials at site at the end 5.000 7,000

Value of the plant at the end of

the year 7.000 s.000

Cash received from contractee 6,00,000 10.00,000

You are required to prepare contract account and contractee's

account for the two years taking into account such profit for

transfer to profit and loss sccount as you think proper' ll

Or

(a) How will you treat profit on incomplete contracts in cost

accounts ?

(b) What is meant by 'lnter-locked' and 'lntegrated' System

of maintaining Cost and Financial Accounts ? Which one

would you advice to adopt and whY ?

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