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BCOMPDSE601

The document outlines an examination for an advanced cost accounting course. It includes four questions covering topics like marginal cost, variable cost, standard costing, cost-volume-profit analysis, and cost auditing reports. The questions require calculations and explanations of accounting concepts and variances.

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Surajit Bhattacharya
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38 views2 pages

BCOMPDSE601

The document outlines an examination for an advanced cost accounting course. It includes four questions covering topics like marginal cost, variable cost, standard costing, cost-volume-profit analysis, and cost auditing reports. The questions require calculations and explanations of accounting concepts and variances.

Uploaded by

Surajit Bhattacharya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Total Page: 02 KNU/2023/ BCOMPDSE601

UG 6th Semester Examination, 2023


Award: B. COM. (Program)
Discipline: COMMERCE
Course Type: DSE
Course Code: BCOMPDSE601
Course Name: Advanced Cost Accounting
Full Marks:40 Time:2hrs

The figures in the right-hand margin indicate full marks. Candidates are required to give the
answers in their own words as far as practicable.
Q.No Marks
1. Answer any five questions 5*1=5
(a) What is meant by Contribution?
(b) What is Uniform Costing?
(c) What is Inter Firm Comparison?
(d) Define Marginal Cost?
(e) What do you mean by Variable Cost?
(f) What is Idle Time?
(g) Define Standard Cost?
(h) What is Management Audit?

2. 5*2=10
Answer any five questions.
(a) Define Abnormal Loss.
(b) State any two limitations of Uniform Costing?
(c) What do you mean by Costing Reports?
(d) What do you mean by Profit Volume Ratio?
(e) Define Cost Volume Profit Analysis?
(f) What do you mean by Activity Based Costing?
(g) State any two advantages of Standard Costing.
(h) Explain the concept of Service Costing.

3. Answer any three questions. 5*3=15


(a) Explain the difference between Joint Product & By-Product.
(b) Discuss the procedure in making Inter firm comparison.
(c) Describe the assumptions of Break-Even-Analysis.
(d) From the following information of Rough & Tough Ltd. determine the: (i) Labour cost
variance; (ii) Labour Efficiency Variance; and (iii) Labour Rate Variance:
i. Standard labour cost per unit of production is Rs.15.
ii. Time allowed per unit is 30 hours.
iii. During the month of March 2016, 3000 units are produced in 75,000 hours.
iv. Actual payment of wages for the month is Rs.45, 000.
(e) Explain the objectives of Cost Audit.

4. Answer any one question. 10*1=10


a) Discuss the ‘Cost Audit Reports’ rules – 1996.
b) 20,000 units of Rs.10 each where issued to Process I.
The other related process costs are as under: Direct Material Rs.24,000; Direct labour
Rs.34,000, Overhead Rs.17,000.
Normal Loss was 10% of input. At the end of the month 16,000 units were
completely processed. Actual Scrap was 1,500 units, which were realized as scrap @
Rs.7 per unit. The degree of completion of Work-in-Progress was as under:
Material - 80% Labour& Overhead - 60%
Prepare: (i) Statement of Equivalent Production; (ii) Process I Account; (iii) Normal
Loss Account and (iv) Abnormal Gain Account.
c) A business produces 200 units of a product by making the following expenditure:
(i) Materials Rs. 30,000; (ii) Labour Rs.20,000; (iii) Factory overhead Rs. 4,000; (iv)
Administrative overhead Rs. 5,754; (v) Selling and distribution overhead Rs. 1,500.
The products are sold at a price of Rs. 400 per unit.

The above expenditure are classified into fixed and variable as follows:
Expenditure Fixed Variable
(i) Materials Nil 100%
(ii) Labour 50% 50%
(iii) Factory overhead 25% 75%
(iv) Administrative overhead 100% Nil
(v) Selling and distribution overhead 60% 40%
From the above information determine: (a) Total Variable Costs and Fixed Costs;
(b) Contribution; (c) P/V Ratio; and (d) Break-Even Point in units and Sales Value.

***

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