Download OU BBA 2019 Dec 5th Sem 12757 Cost and Management Accounting Question Paper

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FACULTY OF MANAGEMENT

BBA V - Semester (CBCS) Examination, November / December 20

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Subject: Cost and Management Accounting

Course No. BB - 504

Marks: 80

Time: 3 Hours Max

PART - A (5x4 = 20 Marks)

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[Short Answer Type]

Note : Answer any FIVE of the following questions.

1. Answer the following in not exceeding 20 lines.
   1. Write the nature of Cost Accounting
   2. Explain the elements of cost
   3. What are the features of FIFO method?

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   4. Distinguish Normal Vs Abnormal Loss
   5. State the nature of process costing
   6. Enumerate the objectives of joint cost analysis
   7. Give three assumptions of breakeven charts
   8. What is Fixed Budget?

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PART - B (4x15 = 60 Marks)

Note: Answer the following questions in not exceeding four pages each, using internal choice.

1. a) State the scope and essentials of good Cost Accounting System.

   OR

   b) Explain fully the concept of ‘Cost. Distinguish between Direct Cost and Indirect Cost.

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2. a) Describe the steps required in accounting overheads.

   OR

   b) No. of units introduced in the process — 4,000 Nos.
   No of units completed and transferred to Process B — 3,200 Nos.
   No. of units in process at the end of the period — 800 Nos.
   State of Completion:
   

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   Material 80%
   Labour 70%
   Overhead 70%
   Normal process loss at the end of the process ~ 200 units
   Value of scrap — Re. 1 per unit
   

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   Value of materials - Rs.

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   From the above data, you are required to calculate:

   1. Equivalent Production
   2. Cost per unit of Equivalent Production, and
   3. Prepare the necessary accounts.

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3. a) What are the three most common methods of allocating joint cost to joint products?

   OR

   b) The total joint cost of products A, B and C till the split off point is market prices of the products are Rs. 60, Rs. 90 and Rs. 190 respectively.
   Costs of manufacture beyond the split off point are:
   Product A - Rs. 20
   

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   Product B - Rs. 10
   Product C — Rs. 30
   You are required to apportion the joint costs according to the market split off point.
4. a) Enumerate the users of Accounting Information.

   OR

   b) “Cost-Volume-Profit analysis is helpful for profit planning”. Explain.

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5. a) What is meant by responsibility centres? Explain their utility to management.

   OR

   b) Elucidate the significance and advantages of fixed and flexible budgets.

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