1. 1. Explain the scope, advantages and limitations of
cost accounting.
2. 2. Compare and contrast cost accounting with
management accounting.
3. 3. Explain the various ways in which cost may be
classified.
4. 4. Calculate prime cost, factory cost, cost of
production , cost of sales, profit : from the following items :
a.
Direct material 100000
b.
Direct wages 30000
c.
Wages of foreman 2500
d.
Electric power 500
e.
Factory lighting 1500
f.
Office lighting 500
g.
Store keeper wages 1000
h.
Oil & water consumed 500
i.
Factory rent
5000
j.
Office rent
2500
k.
Factory repairs 3500
l.
Office repairs 500
m.
Transfer to reserves 1000
n.
Discount on shares written off 500
o.
Factory depreciation 500
p.
Office depreciation 1250
q.
Consumable stores 2500
r.
Manager salary
5000
s.
Director fees 1250
t.
Office & stationery 500
u.
Telephone charges 125
v.
Post and telegrams 250
w.
Salesman salary 1250
x.
Travelling expenses 500
y.
Advertising 1250
z.
Warehouse charges 500
aa.
Sales 189500
bb. Carriage
outwards 375
cc.
Income tax 10000
dd. Dividend
2000
5. 5. Calculate reorder level, minimum level, maximum
stock level from the following:
a.
Minimum usage : 25 units per week
b.
Maximum usage : 75 units per week
c.
Re order quantity : 300 units
d.
Reorder period: 4 to 6 weeks
6. 6. From the following information prepare store
ledger accounting y adopting FIFO & LIFO methods:
a.
Jan 5: purchased 8000 units @ 4 per unit
b.
Jan 21: purchased 1000 units @ 5 per unit
c.
Feb 6: issued 4000 units
d.
Feb 11: purchased 12000 units @ 6 per uni t
e.
Feb 15: issued 8000 units
f.
March 3: issued 2000 units
g.
March 6: issued 4000 units
h.
March 14: purchased 4500 units @ 5.50 per unit
i.
March 18: issued 3000 units
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1. 1. Show a cost sheet proforma with hypothetical
figures and explain each item.
2. 2. Explain the basic cost concepts.
3. 3. Please write an essay on elements of cost and
classify them into direct and indirect items .
4. 4. Standard time allowed for a job is 50 hours. The
hourly rate of wage is 2/-. Per hour plus DA @ 2.50 per hour. The actual time
taken by the worker is 40 hours. Calculate the total wages on a] time basis; b]
piece basis; c] halsey plan ; d]rowan plan .
5. 5. A contractor has undertaken construction work at
a contract price of 1600000 on 1-4-2012. Using the following particulars draw a contract account, P&L account,
balance sheet as on 31.3.2013.
a.
Material purchased: 300000
b.
Material issued from stores: 10000
c.
Indirect expenses : 40000
d.
Labour : 220000
e.
Plant : 300000
f.
Material lost by fire 5000
g.
Material in hand : 25000
h.
Material at site : 8000
i.
Plant at site : 260000
j.
Cash received : 450000 [ WC 80%; NWC 80000]
6. 60Draw a table indicating various items of
overheads in column 1 and their bases of apportionment in col 2.
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1. 1. Write an essay on contract costing , vs job
costing and contract costing process
involving material labor plant and machinery overheads, and sub contract
charges.
2. 2. Write an essay on different methods of re
apportionment including direct distribution, step distribution, simultaneous
and reciprocal equation methods.
3. 3.Write an essay on overheads classifying them
based on function, element, and their behavior. Give atleast 5 examples for
each item.
4. 4.Calculate prime cost, factory cost ,cost of
production, cost of sales, profit : from the following items :
a.
Direct material 100000
b.
Direct wages 30000
c.
Wages of foreman 2500
d.
Electric power 500
e.
Factory lighting 1500
f.
Office lighting 500
g.
Store keeper wages 1000
h.
Oil & water consumed 500
i.
Factory rent
5000
j.
Office rent
2500
k.
Factory repairs 3500
l.
Office repairs 500
m.
Transfer to reserves 1000
n.
Discount on shares written off 500
o.
Factory depreciation 500
p.
Office depreciation 1250
q.
Consumable stores 2500
r.
Manager salary
5000
s.
Director fees 1250
t.
Office & stationery 500
u.
Telephone charges 125
v.
Post and telegrams 250
w.
Salesman salary 1250
x.
Travelling expenses 500
y.
Advertising 1250
z.
Warehouse charges 500
aa.
Sales 189500
bb. Carriage
outwards 375
cc.
Income tax 10000
dd. Dividend
2000
5. 5. Standard time allowed for a job is 50 hours. The
hourly rate of wage is 2/-. Per hour plus DA @ 2.50 per hour. The actual time
taken by the worker is 40 hours. Calculate the total wages on a] time basis; b]
piece basis; c] halsey plan ; d]rowan plan .
6. 6. From the following information prepare store
ledger accounting y adopting FIFO & LIFO methods:
a.
Jan 5: purchased 8000 units @ 4 per unit
b.
Jan 21: purchased 1000 units @ 5 per unit
c.
Feb 6: issued 4000 units
d.
Feb 11: purchased 12000 units @ 6 per uni t
e.
Feb 15: issued 8000 units
f.
March 3: issued 2000 units
g.
March 6: issued 4000 units
h.
March 14: purchased 4500 units @ 5.50 per unit
i.
March 18: issued 3000 units
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