


Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community for help and clear up your study doubts
Discover the best universities in your country according to Docsity users
Free resources
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
University of Pune, Bachelor of Business Administration, 2nd Semester, BASICS OF COST ACCOUNTING, 2009Cost Accounting, Financial Accounting, Cost Centre, Cost Sheet, budget for production, P/V Ratio,Fixed Cost,Break-even Point,Job Costing,Classification of Cost,Abnormal Loss, Work Certified and Work Uncertified, Material Cost Variance Material Price Variance, Material Usage Variance
Typology: Study notes
1 / 4
This page cannot be seen from the preview
Don't miss anything!
On special offer
Total No. of Questions : 5] [Total No. of Printed Pages : 4
(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 :
[3672]-204 2 Contd.
(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