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B.Com. DEGREE (C.B.C.S.S.) EXAMINATION, II{ARCH 2018

. Sixth Semester
.{ :.
Csre Course - APPLIED COST ACCOIJNTING
(Common for Co-operation, Finance and Taxation and Tlavel and Tourism)
[For Private Registration Candidates]
Time : Three Hours MuimumWeight: 25

Instruction s: This question paper contai1tstwo sectio ns. AnswerSection questions in the I
answer-book prbuid.ed. Section II Internal Examinationque,stions rnust be answered, in the
question paper itself. Follow the detailed instructions giuen under Section II.
Answers may be writteneither in English ot in Malayalarn.
Section I
Pem A
Answer all questions.
Each bunch of four questions carries a weight of L.
L Choose the correct answers :

(a) Output costing. (b) Job Costing. r

(c) Contract costing. ,d/"atch costing.


2. Terminal costing is also known as :

(a) Contract costing. ftXf"it costing.

@LAob costing. (d) Operating costing.


3. A product which has practically no salss or utility value is :

(a) Waste. (by'Scrap.


\
9 Spoilage. (d) Defectives.
4. Prod)rction cost under marginal costing include :

(a) cost only.


rPrime
$f Prime cost and variable overhead.
./
(D(rimb cost and fixed overhead.
(d) . Prime cost, variable overhead and fixed overhead.
II. Fill in the blanks :

5. Abnormal process losses should be transferred to F,yacrrr


aJL
6. In contract costing, the cost unit ir U]t}fu-k
Turn ove
a

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E 143i,7
lj

,!
7. Under job costing, each job is known by its (' t t t"'t'
8. Pharmaceuticals Company adopt, J,{.@,l&t*sting.
m. State whether the following statements are True or False :

9. The cost'of abnormal process loss is not included in the cost of process. ,/
10. The allocdtion ofjoint costs to joint and by-products does not affect theiotal profit or loss^7
11. In absorption costing, the valuation of stock is higher than in marginal costing. +.
12. At break-even point, contribution is equal to fixed cost. /
fV. Match the followirrg :

13. Bicycle industry (a) Multiple costing.ry


L4. Cement (b) Operation costing.
15. Pharmaceuticals
.,(c) Output costir,9. i
16. Engineering industry (d) Process CostinS. \
Q
(e) Job costing.q) qr'
(O Batch costing, ,b
(g) Contract costing.t6,YA
(4x L=4)
Penr B
Answer any frve questions.
Each question carries a weight of L.

L7/ilhat is Job Costing?


LfiIrlhat is meant by work uncertified ?

19. What do you mean by key factor ?


20, What is budget manual?
2L. What do you mean by absorption costing?

2{ What is meant by Joint produ ct?


at is Abnormal gain ?
at do you mean by Joint Costs ?

(5x1=5)
Penr C
Answer any four questions.
Each questioru ca,rries a weight of 2.

25. Explain Cost Volume Profit Analysis.


26. Differentiate Work Certified and Work uncertified.

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E 1437

:y" ExplatnZero base budgeting and performance budgeting.


2Y Acontractor has to supply 10,000 paper
__ cones per day
______ r__ __r to a textile unit. He finds that, when he
_,r_
'
( r_

. starts a production run he can produce 25,000 paper cones per day. The cost ofbuilding a
paper cone in stook for one year is 2 paise and the set up cost ofa production run is Rs. 18.
How frequently should production run be made?
rY-,
[z/. )me following data is given :

Fixed cost = Rs. 12,000


-" Selling pricir = Rs. 12 per unit t \O b
Variable cost Rs. 9 per unit
What will be the profit when sales is Rs. 60,000 ? What will be the amount of sales if it is
desired to earn a profit of Rs.6,000?
30l
,/ From the following particulars, prepare the cost sheet for Job No. 225 and find out the value
ofjob :

Direct materials used for the job Rs. 8,500.


Productive wages Rs. 12,100.
Direct expenses Rs. 760.
Charge of productive wages for factory overhead.s and
60Vo 2O%o of works cost for office
overheads. Profit to be earned on selling pice is 2OVo. i .

(4 x 2 = 8)
Pem D
Answer any loivo questinns.
Each question carries a weight of 4.
31. Explain the various methods and techniques of Costing.
32. In the course of manufacture of the main product'P', by products'A' and'B'also emerge. The
joint expenses. of manufacture amount to Rs. 1,19,550. All the three products are processed
further after separation and sold as per details given below :

%
Main Product By-products
.P' ,A' ,B'

Sales Rs.90,000 60,000 40,000

\ ,ff- Cost incurred after separation 6,000 5,000 4,000


*rrofit
'%rofit as percentase of sales 25 20 15
h.[o
^^
[q, [,8^^n ^4,
^frh[,"
IAE. oftotal cost ofsales which are apportioned to the three
^: Total fixed selling expenses are 10Vo
fraWV
products in the ratio of 20 :40 :4A. Prepare a statement showing the apportionment ofjoint
costs to the main product and trvo by-products.

Turn over

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33. The budgeted cost of a factory specializing in the production of a single product at the optimum
capac.rty of _6-,19units per annum ry""ffi,f,s. 176,048 as detailed below :

ffi:,,:'::,,,, >r
20'688

Power 1,440 W'Y*


Repairs 1,700
k Miscellaneous 540

Direct material 49,280

Direct labour
,r

wr 1 ,02,400

- 1,55,360

L,76,049

Having regard to possible impact on sales turnover by market trends the company decided to
have a flexible budget with a production target qtg€90-""d 4,800 units (the actual quantity
proposed to be produced being left to a later date before commencement of the budget period).
Prepare a flexible budget for production levels at SOVo and, TS%o.capacity.

Assume selling price per unit is maintained at Rs. 40 as at present, indicate the effeet on
net profit. I

Administration, selling and distribution expenses continue at Rs. 3,600.

(2 x 4 = 8)

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