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Cost Accounting 2

The document is an examination paper for the B.Com. Programme 4th Semester at the University of North Bengal, focusing on Cost Accounting. It includes various assignments and questions related to inventory management, costing methods, production processes, and financial discrepancies. Students are required to answer all questions, with specific calculations and explanations needed for each scenario presented.

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2 views3 pages

Cost Accounting 2

The document is an examination paper for the B.Com. Programme 4th Semester at the University of North Bengal, focusing on Cost Accounting. It includes various assignments and questions related to inventory management, costing methods, production processes, and financial discrepancies. Students are required to answer all questions, with specific calculations and explanations needed for each scenario presented.

Uploaded by

pgv5ffkmnp
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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UG/CBCS/B.Com./Programme/4th Sem.

/Commerce/COMDSC7/2021

UNIVERSITY OF NORTH BENGAL


B.Com. Programme 4th Semester Examination, 2021

DSC7-COMMERCE
COST ACCOUNTING
Time Allotted: 3 Hours Full Marks: 60

ASSIGNMENT
The figures in the margin indicate full marks.

Answer all the questions 15×4 = 60

িনmিলিখত সবকিট pে র উtর দাও


1. (a) XYZ Ltd. Manufactures 10,000 units of a product per month. The cost of placing 2+2+2+2
an order is Rs. 500. The purchase price of the raw materials is Rs. 20 per kg. The
re-order period is 4 to 8 weeks. The consumption of raw materials varies from
200 kg. to 900 kg. per week, the average consumption being 550 kg. The carrying
cost of inventory is 20% per annum.
You are required to calculate: (a) Economic Order Quantity; (b) Re-order Level;
(c) Maximum Level; (d) Minimum Level.
(b) From the following receipts and issues of materials, prepare Store Ledger 7
Account under (i) Simple Average Method and (ii) Weighted Average Method

2020 January 1 Opening balance 100 kg. @ Rs. 5.00


5 Received 50 kg. @ Rs. 5.20
8 Issued 120 kg.
10 Issued 10 kg.
15 Received 80 kg. @ Rs. 5.40
18 Issued 50 kg.
20 Received 100 kg. @ Rs. 5.60
25 Issued 40 kg.
28 Issued 60 kg.
The stock verifier found a shortage of 10 kg. on 16.01.2020 and another shortage
of 10 kg. on 26.01.2020.

2. (a) Name of different methods of costing along with their application to concerned 5
industry.
িবিভn পিরব য় পdিতর নাম উেlখ কর এবং তার pেয়ােগর সmকযুk িশেlর নাম লখ।

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UG/CBCS/B.Com./Programme/4th Sem./Commerce/COMDSC7/2021

(b) ABC manufacturing company has three production departments A, B and C and 10
two service departments X and Y.

Departments A B C X Y
Rs. Rs. Rs. Rs. Rs.

Total overheads as per primary distribution 12600 14800 5600 9000 4000

The company decided to apportion the service department cost on the following
percentages:

A B C X Y
X: 40% 30% 20% — 10%
Y: 30% 30% 20% 20% —

Find the total overheads of production departments using simultaneous equations


method.

3. (a) Product ‘A’ is obtained after it passes through three distinct processes. The 10
following information is obtained through the accounts for the month ending 31st
March, 2020.

Items Total Process I Process II Process III


(Rs.) (Rs.) (Rs.) (Rs.)
Direct Materials 7542 2600 1980 2962
Direct Wages 9000 2000 3000 4000
Production Overheads 9000

1,000 units at Rs. 3 each introduced to Process I. There was no stock of materials
or work-in-progress at the beginning or end of the period. The output of each
process passes direct to the next process and finally to finished stores. Production
overhead is recovered on 100 per cent of direct wages. The following additional
data are obtained:

Process Output during the Percentage of Value of scrap


month (units) normal loss to input per unit (Rs.)

Process I 950 5% 2

Process II 850 10% 4

Process III 750 15% 5

Prepare Process Accounts, Abnormal Gain Account and Abnormal Loss Account.
(b) How do you ascertain profit in case of incomplete contracts? 5
অসমাp িঠকা cিkর মুনাফা tিম িকভােব িনrপণ করেব ?

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UG/CBCS/B.Com./Programme/4th Sem./Commerce/COMDSC7/2021

4. (a) X Ltd. furnished the following information in relation to the production of 2,000 10
units of product “N” for the year 2019:

Rs.

Direct materials 2,00,000

Direct labour 1,50,000

Indirect wages (50% fixed) 40,000

Consumable stores (70% variable) 30,000

Office rent (100% fixed) 60,000

Selling Expenses (40% variable) 80,000

In the year 2020, it is estimated that the production will increase by 50%. The
price of material and labour will go up by 10% and 20% respectively.
You are required to compute selling price per unit of Product “N” for the year
2020 if the company wishes to maintain profit @ 10% on cost.
(b) Explain the causes of discrepancy between the profits/losses disclosed by 5
financial accounts and that disclosed by cost accounts.
আিথক িহসােব ও পিরব য় িহসােব পিরলিkত লাভ / kিতর অসাম েস র কারণgিল ব াখ া কর।

——×——

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