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1 NOVEMBER 2015 Time : Three hours Maximum : 75 marks SECTION A (10 2 = 20 marks) Answer any TEN questions. 1. Mention the main elements of cost. AhUPÂø» ß UQ õú TÖPøÍ SÔ kp. 2. Mention any two limitations of financial accounting. {vupnuq ¼ß SøÓ õkpîà H uý CμsiøÚ SÔ kp. 3. Define indirect material. øó P» ö õ Ò Gß øu Áøμ Ö. 4. State any two disadvantages of centralized purchasing. J [QønUP mh öpõò u¼ß wø PÎÀ H uý CμsiøÚ TÖP. 5. What do you mean by scrap? PÈÄ ö õ mpò ØÔ } AÔÁÚ õøá? 6. Explain idle time. ÃnõS μ ØÔ ÂÍUSP. 7. Mention the advantage of piece rate system. E iut¼ Ãu øó ß ßø PøÍ SÔ kp. 8. Define overhead. Øö\»Ä Gß øu ÂÁ. 9. What do you mean by apportionment? QºÄ Gß uß ö õ Ò ØÔ } AÔÁx GßÚ? 10. State any three examples of factory overheads. öuõèø\õø» Øö\»ÄPÎß Euõμn[PÍõP H uý ßÔøÚ TÖP.

2 11. Define job costing. o AhUPÂø»ø Áøμ Ö. 12. State any two features of process costing. ö\ øó AhUP ¼ß ußø PÒ H uý CμsiøÚ TÖP. SECTION B (5 5 = 25 marks) Answer any FIVE questions. 13. Explain the objective of cost accounting. AhUPÂø» PnUQ ¼ß õup[pøí ÂÍUSP. 14. After inviting tenders, two quotations are received as follows: Supplier A 2.20 per unit. Supplier B 2.10 per unit plus 2,000 fixed charges. (irrespective of units ordered) Calculate the order quantity for which the purchase price per unit will be the same. Áø»UPõÚ J u Põ ÓS, RÌUPshÁõÖ C Âø»SÔ PÒ ö Ó mhú. AÎ Áº A J A»QØUS AÎ Áº B J A»QØUS 2.10 {ø» õú ö\»äpò 2,000 (GÆÁÍÄ A»QØPõÚ Bøn õú C uõ¾ ) Cμsk AÎ ÁºPÎh GzuøÚ A»SPÐUS Bøn Ó US ö õêx, J A»QØPõÚ öpõò uà Âø» \ õp C US GÚ PnUQkP. 15. Bring out the difference between Bin card and Stores ledger. öpõòp» Amøh ØÖ shp[pò μk BQ ÁØÔØPõÚ ÁÖ õkpøí öpõnºp. 16. Uma Ltd. has purchased and issued the material in the following order. Date Particulars Units Cost per Unit 1 st Mar' 15 Purchase th Mar' 15 Purchase th Mar' 15 Issue th Mar' 15 Purchase th Mar' 15 Issue th Mar' 15 Purchase rd Mar' 15 Issue Calculate the value of closing stock under LIFO method. 2

3 E õ ¼ªöhm RÌUPsh øó i» ö õ Ò öpõò uà ØÖ ÁÇ[SuÀ ö\ xòíx. uv A»SPÒ A»Qß AhUPÂø» 1 õºa 15 öpõò uà õºa 15 öpõò uà õºa 15 ÁÇ[P mhx õºa 15 öpõò uà õºa 15 ÁÇ[P mhx õºa 15 öpõò uà õºa 15 ÁÇ[P mhx CÖv À Á uøá u¼à PÈ uøá øó i CÖv» ö õ Ò \μuq ø PnUQkP. 17. From the particulars given below, calculate the labour cost per man- day of 8 hours; (a) basic salary 5/- per day (b) dearness allowance: 20 paise per every point over 100 cost of living index for workers - current cost of living index 800 points. (c) leave salary 5 of (a) and (b). (d) employer's contribution to provident fund 8 of (a) and (b). (e) employer's contribution to state insurance 5 of (a),(b) and (c). (f) number of working days in a month: 25 days of 8 hours each. R Ç öpõkup mh  μ[pî¼ x, 8 opò öpõsh J õîà J öuõè»õî ß T¼ø PnUQkP. (A) Ai øh \ Í J õøíus 5/--. (B) g\ i öuõè»õíºpðus 100 Ø mh ÁõÊ AhUPÂø» SÔ±mk ÒÎPÒ JÆöÁõßÔØS 20 ø \õ h ÁõÊ AhUPÂø» SÔ±k 800 ÒÎPÒ. (C) Âk \ Í (A) ØÖ (B)À 5. (D) \ {vus o AÎ Á ß \ uõ (A) ØÖ (B)À 8. (E) õ{» Põ miøs o AÎ Á ß \ uõ (A) ØÖ (B) ØÖ (C)À 5. (F) J õuzvà Áø» õmpîß GsoUøP J õøíus 8 opò öpõsh 25 õmpò. 3

4 18. Calculate machine hour rate from the following particulars. Particulars Rupees Cost of the machine 92,000 Scrap value 2,000 Repair charges for whole period 10,800 Rent - machine occupies 1/5 th of total space 7,800 Light (12 points in the department - 2 points engaged in machine) 2,880 Foreman's salary (1/4 th of his time occupied in the machine) 60,000 Insurance 360 Cotton waste 600 Working life of the machine is 18,000 hours. Annual working hours of the machine is 1,800. The power consumption will be 5 units per hour at 2 per unit. RÌUPsh  μ[pî¼ x C vμ μzøu PnUQkP. ¹ õ C vμzvß AhUPÂø» 92,000 Gg] v 2,000 ÊPõ»zvØS Êx õºus ö\»ä 10,800 ÁõhøP ö õzu ChzvÀ 1/5 [S C vμ Gkzx öpõòqóx. 7,800 ªßÂÍUS (xøó À 12 ÒÎPÒ C vμ 2 ÒÎPÒ Gkzx öpõòqóx). 2,880 C vμzøu C US Áº \ Í (1/4 [S μzøu C vμzvà ö\»âh kqóx) 60,000 Põ k 360 zv ÃnõÚx 600 C vμzvß B²mPõ» 18,000 opò. C vμzvß Á h Áø» opò 1,800. ªß\Uv ~PºÄ J ous 5 A»SPÒ 2 Ãu Kº A»QØS 19. From the following information, calculate kilometers and total passenger kilometers. Number of buses 4, days operated in a month 30, trip made by each bus 4, distance of route 30 kilometers long (one way), capacity of the bus 60 passengers. Normal passengers traveling 80 of the capacity. RÌPsh upáàpî¼ x Q»õ«mhº ØÖ ö õzu opò Q»õ«mhº BQ ÁØøÓ PnUQkP. xpîß GsoUøP 4, J õuzvà C UP k õmpò 30, JÆöÁõ x HØ kzv _ØÖ 4, náè ß yμ 30 Q»õ«mhºPÒ (J ÁÈ), vß öpõòííä 60 opò. \õuõμn õp öpõòííâà 80 opò ouqßóúº. 4

5 SECTION C (3 10 = 30 marks) Answer any THREE questions. 20. Prepare cost sheet from the following information: Particulars Opening stock in Closing stock in Materials 40,000 50,000 Work in progress 10,000 14,000 Finished goods 1,00,000 1,50,000 Particulars Rupees Particulars Rupees Indirect labour 50,000 istration expenses 1,00,000 Lubricants 10,000 Power 30,000 Insurance on plant 3,000 Direct labour 3,00,000 Purchase of raw materials 4,00,000 Depreciation on machinery 50,000 Sales commission 60,000 Factory rent 60,000 Salaries of salesmen 1,00,000 Property tax on factory building 11,000 Carriage outward 20,000 Sales 12,00,000 RÌPsh upáàpî¼ x AhUPÂø» mi ø» u õ UPÄ. öuõhup \μuq ¹ õ À CÖv \μuq ¹ õ À» ö õ Ò 40,000 50,000 iäóõu ö õ Ò 10,000 14,000 iäøó ö õ Ò 1,00,000 1,50,000 ¹ õ ¹ õ øó P öuõè»õíº 50,000 {ºÁõP ö\»äpò 1,00,000 \S Gsön 10,000 Âø\ 30,000 ö õô ß «x Põ k 3,000 μi öuõè»õíº 3,00,000» ö õ Ò öpõò uà 4,00,000 C vμ u õú 50,000 ÂØ øú uμs 60,000 öuõèø\õø» ÁõhøP 60,000 ÂØ øú õí ß \ Í öáîaö\ྠÁõPÚ ÁõhøP 1,00,000 öuõèø\õø» Pmizvß «uõú ö\õzxá 11,000 20,000 ÂØ øú 12,00,000 5

6 21. Three components E,F,G are used as follows: normal usage 1000 units; maximum usage 1,200 units; minimum usage 800 units; Re-order quantity for E 3000 for F 2500 for G 4500 units. Re-order period for E 2-4 weeks for F 4-6 weeks for G 3-5 weeks, Calculate for each component (a) re order level (b) minimum level and (c) maximum level. ßÖ TÖPÒ E, F, G RÌPshÁõÖ ß kzu kqóx. \õuõμn ß õk 1000 A»SPÒ; Ea\ AÍÄ ß õk 1200 A»SPÒ; SøÓ u AÍÄ ß õk 800 A»SPÒ; ÖöPõÒ uà AÍÄ E 3000, F 2500, G 4500 A»SPÒ ÖöPõÒ uà Põ» E 2 uà 4 Áõμ[PÒ, F 4 uà 6 Áõμ[PÒ, G 3 uà 5 Áõμ[PÒ. JÆöÁõ TÖUS (A) ÖöPõÒ uà {ø» (B) SøÓ u AÍÄ {ø» ØÖ (C) Ea\ AÍÄ {ø» BQ ÁØøÓ PnUQkP. 22. From the following particulars work out the earnings for the week of a worker under: (a) Straight piece rate (b) Differential piece rate (c) Halsey premium system and (d) Rowan system. Number of working hours per week 48; wages per hour 3.75; rate per piece Rs 1.50; normal time per piece 20 minutes; normal output per week 120 pieces; actual output for the week 150 pieces. Differential piece rate: 80 piece rate when output is below standard and 120 when above standard. R Ç öpõkup mkòí  μ[pî¼ x öuõè»õí US J ÁõμzvØPõÚ Fv zøu (A) μi E i T¼ Ãu (B) ÁÖ mh E i Ãu (C) íõà \ øú zvmh (D) μõáõß vmh BQ ÁØÔß i PnUQkP. J ÁõμzvØPõÚ Áø» opîß GsoUøP 48; J oupõú T¼ 3.75; J E iupõú öuõøp 1.50; E iupõú \õuõμn μ 20 {ªh[PÒ; J ÁõμzvØPõÚ \õuõμn EØ zv AÍÄ 120 E ipò; J ÁõμzvÀ EØ zv ö\ mhøá 150 E iupò. ÁÖ mh E i Ãu T¼; {ºn UP mh AÍÂØS SøÓÁõÚ EØ zv AÍÄ C US ö õêx E iãu T¼ À 80. Tku»õP C US ö õêx 120 ÁÇ[P h Ásk. 6

7 23. Prepare overhead distribution summary from the following. Particulars Total A Production Department B Rs C Service Department S1 S2 Direct material 1,000 2,000 4,000 2,000 1,000 Direct wages 5,000 2,000 8,000 1,000 2,000 Factory rent 4,000 Power 2,500 Depreciation 1,000 Overheads 9,000 Area (Sq.ft) Capital value (Rs lakhs) of assets Machine hours 1,000 2,000 4,000 1,000 1,000 Horse power of machines Apportionment of expenses of service departments is as follows: Particulars A Service department S Service department S RÌPshÁØÔ¼ x Øö\»Ä QºÄ Põmk AmhÁønø u õ UPÄ. B C S1 S2 EØ zv xøó \øá xøó ö õzu μi» ö õ Ò 1,000 2,000 4,000 2,000 1,000 μi T¼ 5,000 2,000 8,000 1,000 2,000 öuõèø\õø» ÁõhøP 4,000 ªß\Uv 2,500 u õú 1,000 Øö\»ÄPÒ 9,000 μ (\xμai) ö\õzvß»uú v (¹ õ»m\zvà) C vμ opò 1,000 2,000 4,000 1,000 1,000 C vμzvß Svøμ \Uv A B C S1 S2 7

8 \øázxøó ß ö\»äpò RÌPshÁõÖ Qμ kqóx. A B C S1 S2 \øá xøó S \øá xøó S Prepare process account from the following. Particulars Process A in rupees Process B in rupees Materials 30,000 3,000 Labour 10,000 12,000 overheads 7,000 8,600 Normal loss 10 4 Sale of wastes per unit 1 2 Input in units 20,000 17,500 There was no opening or closing stock or work in progress, Final output from Process B was 17,000 units, RÌPshÁØÔ¼ x i øó PnUSPøÍ u õ UPÄ. i øó A ¹ õ À i øó B ¹ õ À» ö õ Ò 30,000 3,000 öuõè»õíº 10,000 12,000 Øö\»ÄPÒ 7,000 8,600 \õuõμn èh 10 4 J A»S Ãnõu¼ß ÂØ øú 1 2 EÒ Á uøá A»SPÎÀ 20,000 17,500 Bμ AÀ»x CÖv AÀ»x iäóõu \μuq Hx CÀø». i øó B À CÖv õp öáîá u A»SPÒ 17,000. 8