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1 ws11 APRIL 2016 Time : Three hours Maximum : 75 marks PART A (10 2 = 20 marks) Answer any TEN questions. 1. Define unit costing. A»S AhUP À Áøμ Ö. 2. What is cost sheet. AhUP AmhÁøn GßÓõÀ GßÚ? 3. Give the meaning of tenders. Âø» ÒÎ Gß uß ö õ Ò u P. 4. What do you mean by work uncertified? \õßóî À»õu Áø» } AÔÁx GßÚ? 5. Explain the term incomplete contract. iäóõ J u GßÓ uzvøú ÂÍUSP. 6. What is process costing? i øó PnUQ À GßÓõÀ GßÚ? 7. State the meaning of normal loss. \õuõμn mh Gß uß ö õ øí TÖP. 8. What is operation costing? C UP AhUP À GßÓõÀ GßÚ? 9. Write any two merits of transport costing. õusáμzx AhUP ¼ß H uý Cμsk ßø PøÍ GÊxP. 10. Explain the term cinema theatre costing. vøμ μ[s AhUP À GßÓ uzvøú ÂÍUSP.

2 11. Give the meaning of margin of safety. õxpõ GÀø» Gß uß ö õ øí u P. 12. What is fixed cost? {ø» õú ö\»ä GßÓõÀ GßÚ? PART B (5 5 = 25 marks) Answer any FIVE questions. 13. Distinguish between financial accounting and cost accounting. {v À PnUQ ¾US ØÖ AhUP À PnUQ ¾US EÒÍ ÁÖ õk õøá? 14. From the following information prepare Job No. 236 a/c in the job cost ledger Direct materials purchased 3,600 Direct materials received from stores 25,200 Direct wages 14,400 Other direct expenses 1,500 The works overheads are to be taken at 75% of wages and administrative overheads at 25% of works cost. The contract price of Job No 236 which is completed is fixed as 82,500. ßÁ upáàpøí öpõsk Áø» Gs 236 UPõÚ Áø» AhUP μmøh u õº ö\ P. μi öpõò uà ö\ mh» ö õ Ò 3,600 ö Ó mh» ö õ Ò 25,200 μi T¼ 14,400 Cuμ μi ö\»äpò 1,500 öuõèø\õø» Øö\»ÄPÒ 75% T¼ «x, ØÖ {ºÁõP Øö\»ÄPÒ 25% öuõèø\õø» Øö\»ÄPÒ «x GkzxUöPõÒÍ mhx Áø» Gs 236 iäøó {ø» À J u Âø» 82,500. 2

3 15. The following is the information relating to contract No Contract price 6,00,000 Wages 1,64,000 General expenses 8,600 Raw materials 1,20,000 Plant 20,000 As on date, cash received was 2,40,000 being 80% of work certified. The value of materials remaining at site was 10,000. Depreciate plant by 10%. Prepare contract account showing profit to be certified to P&L a/c. ßÁ upáàpò J u Gs : 123 hß öuõhº øh x J u Âø» 6,00,000 T¼ 1,64,000 ö õxaö\»äpò 8,600» ö õ mpò 1,20,000 ö õô 20,000 Az uv À ö Ó mh öμõup 2,40,000 CzöuõøP Áø» \õßóî À 80% BS. CÖv\μUQ ß v 10,000. ö õô ß «x AÝ vup mh u õú 10%. J u PnUøP², C»õ \õßóîus C»õ mh PnUøP² u õº ö\ P. 16. Srikar & Co, produces a product through two process J and K. Prepare the process accounts from the following details relating to March Process J Process K Material 45,000 15,000 Labour 60,000 25,000 Chargeable expenses 5,000 10,000 The overhead amounting to 17,000 are to be apportioned on the basis of labour. 3

4 ÿpº & P ö Û i øó "J' ØÖ i øó "K' GßÓ Cμsk i øópò» J ö õ øí u õ zuúº. ßÁ ÂÁμ[PÒ 1997 õºa ²hß öuõhº øh x. CuøÚU öpõsk i øó PnUøP u õº ö\ P. i øó J i øó K» ö õ ÒPÒ 45,000 15,000 T¼ 60,000 25,000 Pmhn ö\»äpò 5,000 10,000 17,000 Øö\»ÄPÒ T¼ Ai øh À QºÄ ö\ mhx. 17. From the following data calculate the cost per mile of a vehicle Value of vehicle 1,00,000 Garage rent per year 1,200 Insurance charges p.a. 400 Road tax p.a 500 Driver s wages per month 600 Cost of petrol per litre 6.40 paise Tyre maintenance per mile 0.80 paise Estimate life 1,50,000 miles. Miles per litre of petrol 8; Estimated annual mileage 6,000. ßÁ upáàpøí öpõsk J ø À KmhzxUS AhUPzvøÚ PnUQk. E x Ási ß v 1,00,000 Ási {Özxªh ÁõhøP (BskUS) 1,200 Põ k ö\»ä (BskUS) 400 \õø» Á (BskUS) 500 iøμẠT¼ ( õu JßÖUS) 600 J ¼mhº ö m μõà 6.40 ø \õ J ø ¾US h º μõ 0.80 ø \õ Gvº õºus EøÇUS Põ» 1,50,000 ø ÀPÒ. J ¼mh US Kk yμ 8. Gvº õºus Bsk Kmh ø ÀPÒ 6,000. 4

5 18. State the disadvantages of operating costing. C UP AhUP ¼ß wø PøÍ TÖP. 19. The following information relating to a company is given to you Sales 4,00,000 Fixed cost 1,80,000 Variable cost 2,50,000 Ascertain how much value of sales must be increased for the company to achieve break-even. J {Ö zvß öuõhº øh upáàpò R Ç uμ mkòíx ÂØ øú 4,00,000 {ø» ö\»äpò 1,80,000 õö k ö\»äpò 2,50,000 {Ö zvß ÂØ øú v GÆÁÍÄ AvP õs Gß øu Psk i. PART C (3 10 = 30 marks) Answer any THREE questions. 20. Explain the functions of cost accounting. AhUP Âø» PnUQ ¼ß opøí ÂÍUSP. 21. During 2004, Indian contractors Ltd, undertook two contracts, the first on 1 st July 2004 and second on 30 th Sep On 31 st December when accounts were made up, their position was as follows Contract I Contract II Contract price 2,70,000 3,00,000 Expenditure : Materials 58,000 20,000 Wages 1,12,400 14,000 General expenses 2,800 1,000 Plant installed 16,000 12,000 5

6 Materials on hand 4,000 2,000 Wages accrued 3,600 1,600 General expenses accrued Work certified 1,60,000 36,000 Cash received 1,20,000 27,000 Work uncertified 8,000 2,000 The plant was installed on the dates of the contracts and deprecation is to be provided at 10% p.a. Prepare contract accounts in coloumn form and show the extracts in the balance sheet of the company relating to the two contracts. C v ß J upõμºpò ¼ªöhm, 2004 BsiÀ Cμsk J u[pøí GkzxU öpõshúº. 1 áúø» 2004 À u¼¾ ØÖ 30 th ö\ h º 2004 À CμshõÁx J u BS. i\ º 31 õøí PnUQß {ø»pò ßÁ õö J u I J u II J u Âø» 2,70,000 3,00,000 ö\»âú[pò :» ö õ mpò 58,000 20,000 T¼ 1,12,400 14,000 ö õxö\»äpò 2,800 1,000 ö õô ö õ zxøp 16,000 12,000 øp \μuq 4,000 2,000 \º u T¼ 3,600 1,600 \º u ö õx ö\»äpò Áø» \õßóî 1,60,000 36,000 ö ØÓ öμõup 1,20,000 27,000 \õßóî À»õ Áø» 8,000 2,000 J u uv À ö õô ö õ zu mkòíx ØÖ BsiØS 10% u õú JxUP mhx. Cμsk J u[pîß J u PnUS ØÖ C {ø»u SÔ u õº ö\ P. 6

7 22. Product A is obtained after it passes through three distinct processes. Prepare process account from the following Total Process I Process II Process III Materials 15,084 5,200 3,960 5,924 Wages 18,000 4,000 6,000 8,000 Production overheads 18,000 1,000 units of 6 per unit were introduced in process I, production overhead is to be distributed as 100% on wages. Process Total output units Normal loss Value of scrap per unit () I 950 5% 4 II % 8 III % 10 ö õ Ò A ßÖ ÁÖ i øópîà u õμõqóx. ßÁ ö\ vpî¼ x i øó PnUSPøÍ u õº ö\ P. ö õzu i øó I i øó II i øó III» ö õ mpò 15,084 5,200 3,960 5,924 T¼ 18,000 4,000 6,000 8,000 EØ zv Øö\»ÄPÒ 18,000 i øó i øó I À 1,000 A»SPÒ AhUPÂø» A»S JßÖUS 6 Ãu AÎUP kqóx. EØ zv Øö\»ÄPÒ 100% T¼ Ai øh À Qº uîup kqóx ö õzu EØ zv ö\ mh A»SPÒ CÇ PÒ (\õuõμn mh ) J A»Qß xsk v () I 950 5% 4 II % 8 III % Explain (a) Vehicle register (b) Workshop register (c) Daily log sheet. (A) ÁõPÚ v Ák (B) o øú v Ák (C) vú\ SÔ uõò ÂÍUSP. 7

8 24. From the following, calculate (a) (b) Break even point Margin of safety (c) Sales to earn a profit of 1,20,000 Sales 6,00,000 Variable cost 3,75,000 Fixed costs 1,80,000 ßÁ ÁÚÁØøÓ Psk i (A) \ \ ÒÎ (B) õxpõ GÀø» (C) C»õ 1,20,000 Dmk õx ÂØ øú ÂØ øú 6,00,000 õö k ö\»äpò 3,75,000 {ø»a ö\»äpò 1,80,000 8