Download Test Paper - BASICS OF COST ACCOUNTING - University of Pune - Bachelor of Business Administration - 2nd Semester - 2009 and more Study notes Cost Accounting in PDF only on Docsity!
Total No. of Questions : 5] [Total No. of Printed Pages : 4
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B. B. A. ( Semester - II ) Examination - 2009
BASICS OF COST ACCOUNTING
(2008 Pattern) Time : 3 Hours] [Max. Marks : 80 Instructions : (1) All questions are compulsory. (2) Figures to the right indicate full marks. (3) Use of calculator is allowed.
Q.1) (A) Fill in the blanks : [05] (a) _________ ascertainment is the main function of Cost Accounting. (b) Material Cost, Labour Cost and Expenses are the _________ of Cost. (c) Advance Payment by Contractee is an agreed percentage of _________. (d) _________ Costing is a Form of Operations Costing. (e) Fixed Cost + Profit = _________. (B) State whether the following statements are true or false : [05] (a) Cost Accounting provides information for ascertaining financial position of business. (b) Input Costs are Historical Costs. (c) Operating Costing is also known as Service Costing. (d) Job Costing is a Specific Order Costing Method. (e) Marginal Costing is a method of Costing. [3672]-204 1
Q.2) Define Cost Accounting. How is Cost Accounting different from Financial Accounting? [15] OR Q.2) Briefly explain advantages and limitations of Cost Accounting. [15]
Q.3) Write short notes : (Any Three) [15] (a) Cost Centre (b) Job Costing (c) Classification of Cost (d) Abnormal Loss (e) Work Certified and Work Uncertified
Q.4) The following figures have been taken from the cost records of a company for the year 2008-2009 : Rs. Stock on 1-4-2008 :
- Raw Materials 2,80,
- Work-in-Progress 63,
- Finished Good 1,84, Stock on 31-3-2009 :
- Raw Materials 2,64,
- Work-in-Progress 83,
- Finished Goods 2,05, Purchases of Raw Materials 2,54, Direct Wages 1,21, Indirect Wages 16, Power 1,03, Sale of Finished Goods 8,00,
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(B) The Sales and Profits during two years were :
Year Sales (Rs.) Profits (Rs.) 2007 4,50,000 60, 2008 5,10,000 75, You are required to calculate : (a) P/V Ratio (b) Fixed Cost (c) Break-even Point (d) Sales required to earn a profit of Rs. 1,20,000. [12] OR
(B) From the following information, calculate : [12]
(a) Material Cost Variance (b) Material Price Variance (c) Material Usage Variance Material Standard Qty. Standard Actual Qty. Actual (Kg) Price (Rs.) (Kg) Price (Rs.) X 1,000 40 1,200 37. Y 1,500 50 1,800 45 Z 2,000 60 2,400 55
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