Download OU (Osmania University) B.Com 2019 Dec 3rd Year 10061 Cost Accounting Previous Question Paper
FACULTY OF COMMERCE
B.Com. V ? Semester (CBCS) Examination, November / December 2019
(Common Paper for General / Computers /Computer Applications /
Advertising / Foreign Trade and Tax Procedure Courses)
Subject: Cost Accounting
Paper Code ? BC ? 503
Time: 3 Hours Max.Marks: 80 PART ? A (5x4 = 20 Marks)
[Short Answer Type]
Note: Answer any five of the following questions.
1 Cost Sheet
2 Just in Time (JIT)
3 Indirect Labour Cost
4 Features of Job Costing
5 Abnormal Gain
6 From the information given below calculate
EOQ Annual usage 8000 units
Purchase Price per unit R. 10
Ordering Cost per Order Rs.80
Carrying Cost 20% p.a. per Unit Cost
7 The following information is extracted from the job ledger of Devi Enterprises in
respect of Job No. 454
Materials Rs. 6,800; Wages 100 hours @ Rs. 5
Variable Overheads incurred for all Job Rs.10,000 for 5,000 labour hours
Find the profit if the job is billed for Rs.9,000
8 The output of process X was 5000 units, normal loss allowed was 10% of input.
Abnormal loss was 400 units. The following further information is obtained.
Material Rs. 5 per unit, Overheads Rs. 6,700, Labour
Rs.8,000, Wastage realized Rs 2.50 per unit
Prepare Process X Account.
PART ? B (5x12 = 60 Marks)
[Essay Answer Type]
Note: Answer all the questions.
9 a) Define Cost Accounting? Explain objectives and scope of Cost Accounting.
OR
b) Discuss the difference between Cost Accounting and Financial Accounting.
10 a) Discuss the various types of Inventory Control Techniques.
OR
..2
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Code No.10061
FACULTY OF COMMERCE
B.Com. V ? Semester (CBCS) Examination, November / December 2019
(Common Paper for General / Computers /Computer Applications /
Advertising / Foreign Trade and Tax Procedure Courses)
Subject: Cost Accounting
Paper Code ? BC ? 503
Time: 3 Hours Max.Marks: 80 PART ? A (5x4 = 20 Marks)
[Short Answer Type]
Note: Answer any five of the following questions.
1 Cost Sheet
2 Just in Time (JIT)
3 Indirect Labour Cost
4 Features of Job Costing
5 Abnormal Gain
6 From the information given below calculate
EOQ Annual usage 8000 units
Purchase Price per unit R. 10
Ordering Cost per Order Rs.80
Carrying Cost 20% p.a. per Unit Cost
7 The following information is extracted from the job ledger of Devi Enterprises in
respect of Job No. 454
Materials Rs. 6,800; Wages 100 hours @ Rs. 5
Variable Overheads incurred for all Job Rs.10,000 for 5,000 labour hours
Find the profit if the job is billed for Rs.9,000
8 The output of process X was 5000 units, normal loss allowed was 10% of input.
Abnormal loss was 400 units. The following further information is obtained.
Material Rs. 5 per unit, Overheads Rs. 6,700, Labour
Rs.8,000, Wastage realized Rs 2.50 per unit
Prepare Process X Account.
PART ? B (5x12 = 60 Marks)
[Essay Answer Type]
Note: Answer all the questions.
9 a) Define Cost Accounting? Explain objectives and scope of Cost Accounting.
OR
b) Discuss the difference between Cost Accounting and Financial Accounting.
10 a) Discuss the various types of Inventory Control Techniques.
OR
..2
Code No.10061
-2-
b) From the following details, prepare the Store Le3dger using ?Weighted Average?
method of valuing the issues.
3 Issued 1,500 units to production department
5 Received 4,500 units @ Rs. 6.00 each
10 Issued 1,600 units
12 Returned to stores 100 units by Production Department (from
the issue of Nov. 3)
16 Received 2,400 units @ Rs. 6.50 each
19 Returned to supplier 200 units out of 1uantity received on Nov.
5.
20 Received 1,000 units @ Rs. 7.00 each
24 Issued to production 2,100 units
27 Received 1,200 units @ Rs.7.50 each
29 Issued to production 2,800 units.
11 a) A worker takes 48 hours to do a job for which the time allowed is 60 hours. His
wage rate is Rs.10 per hour.
Calculate the works cost of the job under the following methods of payment of
wages
a) Halsey plan b) Rowan Plan
Additional Information:
Material Cost Rs. 1,000
Overheads @ 150% of wages
OR
b) In a manufacturing concern there are cour departments viz A, B, C & D. A and B
are production departments and C & D are Service Departments. C renders
service worth Rs. 12,000 to D and Balance to A & B in the ratio of 3:2. D renders
service to A and B in the ratio of 9:1.
The overhead expenses incurred in a year are as follows:
Rs.
Depreciation 95,000
Rent, Rates and Taxes 18,000
Insurance 7,600
Power 10,000
Canteen Expenses 5,400
Electricity 2,400
Following further information are given regarding the departments.
A B C D
Direct Material Rs. 6,000 5,000 3,000 2,000
Direct labour Rs. 20,000 10,000 10,000 5,000
Floor Space occupied (Sq.ft) 5,000 4,000 1,000 2,000
Value of Assets (in lakhs) 10 5 3 1
H.P. of Machines 1,000 500 400 100
No. of workers 100 50 50 25
Light and Fan Points 50 30 20 20
..3
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Code No.10061
FACULTY OF COMMERCE
B.Com. V ? Semester (CBCS) Examination, November / December 2019
(Common Paper for General / Computers /Computer Applications /
Advertising / Foreign Trade and Tax Procedure Courses)
Subject: Cost Accounting
Paper Code ? BC ? 503
Time: 3 Hours Max.Marks: 80 PART ? A (5x4 = 20 Marks)
[Short Answer Type]
Note: Answer any five of the following questions.
1 Cost Sheet
2 Just in Time (JIT)
3 Indirect Labour Cost
4 Features of Job Costing
5 Abnormal Gain
6 From the information given below calculate
EOQ Annual usage 8000 units
Purchase Price per unit R. 10
Ordering Cost per Order Rs.80
Carrying Cost 20% p.a. per Unit Cost
7 The following information is extracted from the job ledger of Devi Enterprises in
respect of Job No. 454
Materials Rs. 6,800; Wages 100 hours @ Rs. 5
Variable Overheads incurred for all Job Rs.10,000 for 5,000 labour hours
Find the profit if the job is billed for Rs.9,000
8 The output of process X was 5000 units, normal loss allowed was 10% of input.
Abnormal loss was 400 units. The following further information is obtained.
Material Rs. 5 per unit, Overheads Rs. 6,700, Labour
Rs.8,000, Wastage realized Rs 2.50 per unit
Prepare Process X Account.
PART ? B (5x12 = 60 Marks)
[Essay Answer Type]
Note: Answer all the questions.
9 a) Define Cost Accounting? Explain objectives and scope of Cost Accounting.
OR
b) Discuss the difference between Cost Accounting and Financial Accounting.
10 a) Discuss the various types of Inventory Control Techniques.
OR
..2
Code No.10061
-2-
b) From the following details, prepare the Store Le3dger using ?Weighted Average?
method of valuing the issues.
3 Issued 1,500 units to production department
5 Received 4,500 units @ Rs. 6.00 each
10 Issued 1,600 units
12 Returned to stores 100 units by Production Department (from
the issue of Nov. 3)
16 Received 2,400 units @ Rs. 6.50 each
19 Returned to supplier 200 units out of 1uantity received on Nov.
5.
20 Received 1,000 units @ Rs. 7.00 each
24 Issued to production 2,100 units
27 Received 1,200 units @ Rs.7.50 each
29 Issued to production 2,800 units.
11 a) A worker takes 48 hours to do a job for which the time allowed is 60 hours. His
wage rate is Rs.10 per hour.
Calculate the works cost of the job under the following methods of payment of
wages
a) Halsey plan b) Rowan Plan
Additional Information:
Material Cost Rs. 1,000
Overheads @ 150% of wages
OR
b) In a manufacturing concern there are cour departments viz A, B, C & D. A and B
are production departments and C & D are Service Departments. C renders
service worth Rs. 12,000 to D and Balance to A & B in the ratio of 3:2. D renders
service to A and B in the ratio of 9:1.
The overhead expenses incurred in a year are as follows:
Rs.
Depreciation 95,000
Rent, Rates and Taxes 18,000
Insurance 7,600
Power 10,000
Canteen Expenses 5,400
Electricity 2,400
Following further information are given regarding the departments.
A B C D
Direct Material Rs. 6,000 5,000 3,000 2,000
Direct labour Rs. 20,000 10,000 10,000 5,000
Floor Space occupied (Sq.ft) 5,000 4,000 1,000 2,000
Value of Assets (in lakhs) 10 5 3 1
H.P. of Machines 1,000 500 400 100
No. of workers 100 50 50 25
Light and Fan Points 50 30 20 20
..3
Code No.10061
-3-
From the above particulars prepare a statement showing overhead expenses of
production Departments A and B after distribution of Service Department?s
expenses.
12 a) Following information in respect of Job No. 222 is given below:
Materials Rs.5,800
Wages
Department A ? 100 hours @ 5 per hour
Department B ? 200 hours @ Rs. 3 per hour
Overheads for the two departments are estimated as
A) Variable Overheads:
Department A ? Rs.10,000 for 5,000 direct labour hours
Department B ? Rs. 30,000 for 10,000 direct labour hours
B) Fixed Overheads:
Rs. 50,000 for 50,000 normal working hours.
Calculate the cost of this job and also the price to be charged so as to give a
profit of 20% on selling price.
OR
b) From the following, prepare a Cost Sheet and Quote a suitable prices.
Total production 5,000 tons
Cost of Raw Material Rs.20,00,000
Carriage Inwards Rs. 2,00,000
Direct wages Rs.20,00,000
Indirect wages Rs. 1,00,000
Office Expenses Rs.10,00,000
Selling Overheads Rs.10,00,000
Payment of Income Tax Rs. 3,00,000
Dividend paid Rs. 5,00,000
A profit Margin of 50% on cost in desired.
13 a) From the following information prepare
a) The Contract Accounts
b) Contractee?s Accounts
Materials sent to site 85,349
Labour engaged on site 74,375
Plant installed at cost 15,000
Direct Expenditures 4,126
Establishment charges 3,167
Materials returned to stores 549
Work Certified 1,95,000
Cost of work not certified 4,500
Material on hand, Dec. 31 1,883
Wages accrued on Dec. 31 2,400
Value of plant on Dec. 31
st
11,000
The contract price has been agreed at Rs. 2,50,000. Cash has been
received from the contractee amounting to Rs.1.80,000.
OR
..4
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Code No.10061
FACULTY OF COMMERCE
B.Com. V ? Semester (CBCS) Examination, November / December 2019
(Common Paper for General / Computers /Computer Applications /
Advertising / Foreign Trade and Tax Procedure Courses)
Subject: Cost Accounting
Paper Code ? BC ? 503
Time: 3 Hours Max.Marks: 80 PART ? A (5x4 = 20 Marks)
[Short Answer Type]
Note: Answer any five of the following questions.
1 Cost Sheet
2 Just in Time (JIT)
3 Indirect Labour Cost
4 Features of Job Costing
5 Abnormal Gain
6 From the information given below calculate
EOQ Annual usage 8000 units
Purchase Price per unit R. 10
Ordering Cost per Order Rs.80
Carrying Cost 20% p.a. per Unit Cost
7 The following information is extracted from the job ledger of Devi Enterprises in
respect of Job No. 454
Materials Rs. 6,800; Wages 100 hours @ Rs. 5
Variable Overheads incurred for all Job Rs.10,000 for 5,000 labour hours
Find the profit if the job is billed for Rs.9,000
8 The output of process X was 5000 units, normal loss allowed was 10% of input.
Abnormal loss was 400 units. The following further information is obtained.
Material Rs. 5 per unit, Overheads Rs. 6,700, Labour
Rs.8,000, Wastage realized Rs 2.50 per unit
Prepare Process X Account.
PART ? B (5x12 = 60 Marks)
[Essay Answer Type]
Note: Answer all the questions.
9 a) Define Cost Accounting? Explain objectives and scope of Cost Accounting.
OR
b) Discuss the difference between Cost Accounting and Financial Accounting.
10 a) Discuss the various types of Inventory Control Techniques.
OR
..2
Code No.10061
-2-
b) From the following details, prepare the Store Le3dger using ?Weighted Average?
method of valuing the issues.
3 Issued 1,500 units to production department
5 Received 4,500 units @ Rs. 6.00 each
10 Issued 1,600 units
12 Returned to stores 100 units by Production Department (from
the issue of Nov. 3)
16 Received 2,400 units @ Rs. 6.50 each
19 Returned to supplier 200 units out of 1uantity received on Nov.
5.
20 Received 1,000 units @ Rs. 7.00 each
24 Issued to production 2,100 units
27 Received 1,200 units @ Rs.7.50 each
29 Issued to production 2,800 units.
11 a) A worker takes 48 hours to do a job for which the time allowed is 60 hours. His
wage rate is Rs.10 per hour.
Calculate the works cost of the job under the following methods of payment of
wages
a) Halsey plan b) Rowan Plan
Additional Information:
Material Cost Rs. 1,000
Overheads @ 150% of wages
OR
b) In a manufacturing concern there are cour departments viz A, B, C & D. A and B
are production departments and C & D are Service Departments. C renders
service worth Rs. 12,000 to D and Balance to A & B in the ratio of 3:2. D renders
service to A and B in the ratio of 9:1.
The overhead expenses incurred in a year are as follows:
Rs.
Depreciation 95,000
Rent, Rates and Taxes 18,000
Insurance 7,600
Power 10,000
Canteen Expenses 5,400
Electricity 2,400
Following further information are given regarding the departments.
A B C D
Direct Material Rs. 6,000 5,000 3,000 2,000
Direct labour Rs. 20,000 10,000 10,000 5,000
Floor Space occupied (Sq.ft) 5,000 4,000 1,000 2,000
Value of Assets (in lakhs) 10 5 3 1
H.P. of Machines 1,000 500 400 100
No. of workers 100 50 50 25
Light and Fan Points 50 30 20 20
..3
Code No.10061
-3-
From the above particulars prepare a statement showing overhead expenses of
production Departments A and B after distribution of Service Department?s
expenses.
12 a) Following information in respect of Job No. 222 is given below:
Materials Rs.5,800
Wages
Department A ? 100 hours @ 5 per hour
Department B ? 200 hours @ Rs. 3 per hour
Overheads for the two departments are estimated as
A) Variable Overheads:
Department A ? Rs.10,000 for 5,000 direct labour hours
Department B ? Rs. 30,000 for 10,000 direct labour hours
B) Fixed Overheads:
Rs. 50,000 for 50,000 normal working hours.
Calculate the cost of this job and also the price to be charged so as to give a
profit of 20% on selling price.
OR
b) From the following, prepare a Cost Sheet and Quote a suitable prices.
Total production 5,000 tons
Cost of Raw Material Rs.20,00,000
Carriage Inwards Rs. 2,00,000
Direct wages Rs.20,00,000
Indirect wages Rs. 1,00,000
Office Expenses Rs.10,00,000
Selling Overheads Rs.10,00,000
Payment of Income Tax Rs. 3,00,000
Dividend paid Rs. 5,00,000
A profit Margin of 50% on cost in desired.
13 a) From the following information prepare
a) The Contract Accounts
b) Contractee?s Accounts
Materials sent to site 85,349
Labour engaged on site 74,375
Plant installed at cost 15,000
Direct Expenditures 4,126
Establishment charges 3,167
Materials returned to stores 549
Work Certified 1,95,000
Cost of work not certified 4,500
Material on hand, Dec. 31 1,883
Wages accrued on Dec. 31 2,400
Value of plant on Dec. 31
st
11,000
The contract price has been agreed at Rs. 2,50,000. Cash has been
received from the contractee amounting to Rs.1.80,000.
OR
..4
Code No.10061
-4-
b) Product X is obtained after it passes through 3 district processes. You are required to
prepare process accounts from the following information.
Total Process-I Process-II Process-III
Material 15,084 5,200 3,960 5,924
Direct Wages 18,000 4,000 6,000 8,000
Production Overheads 18,000 -- -- --
1,000 units @ Rs.6 per unit were introduced in Process-I. Production Overheads are to
be distributed at 100% on Direct Wages.
Actual Normal Value of
Output Loss Scrap per unit
Process-I 950 5% Rs.4.00
Process-II 840 10% Rs.8.00
Process-III 750 15% Rs.10.00
****
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This post was last modified on 16 July 2020