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## Wednesday, July 25, 2012

### Dibrugarh University - Cost Accounting 1998

1. a) “Costing is an aid to management”. Enumerate the main points in support of this statement. (10)

b) Distinguish between: - (5x2)
ii)       Cost of sales & cost of goods sold.

2. a) What do you understand by economic order quantity? Discuss what factors are to be taken into consideration for deciding this quantity.   (10)

b) The stores materials of a Co. on 1/7/1997 were 1000 units @ Rs2 per unit. Further purchase were made during the month as follows: - (10)
4th July                  200 units @ Rs2.50 per unit
10th July                500 units @ Rs3.00 per unit
20th July                1000 units @ Rs3.50 per unit
The issues during the period were as follows:-
12th July                1600 units
28th July                900 units
What would be the value of closing stock at the end of the month on the basis of materials being treated According to FIFO method.

3. a) What is labour turnover? What are its causes & its effects on labour cost?   (10)

b) During a certain week in Sep, 97’ a worker manufactured 240 articles. Working hour during a week 48 hours. Standard rate Rs5 per hour & standard time to manufacture on article 15 minutes. Calculate his grass wages for the week according to Halsey Premium Bonus plan. (10)

4. From the following particulars furnished below. Compute the machine hour rate:- (20)

Cost of machine                                                                                               Rs90000
Cost of installation                                                                                           Rs10000
Scrap value at the end of 10 yrs                                                                 Rs5000
Indirect wages & materials per year                                                        Rs500
Supervision cost for four (4) similar machines per year                   Rs16000
Insurance premium for the machines per quarter                            Rs200
Rent of the machine shop per month                                                     Rs400
Electricity cost for the machine shop per month                                Rs100
Power consumption of the machine is 20 units per actual working hour. Power cost is 50 paisa per unit.

The total area of the machine shop is 600 sq.m. of which the machine occupies only 150 sq.m. There are 200 light paints in the machine shop of equal voltage of which it utilizes only 40 paints. It is estimated that machine will normally work 2700 hours in a year, but will remain idle for 200 hours.

5. a) Define normal & abnormal loss. (10)
b) Product A passes through two process I & II & then to finished stock. From the following data prepare the process accounts. (10)

Particulars                                                           Process I                                              Process II
Input                                                                     2000                                                       1900
Material consumed                                         30000                                                    20000
Wages                                                                  20000                                                    20000
Normal loss                                                        5%                                                          10%
Scrape value (per unit)                                  2                                                              3

6. a) Distinguish between:- (5x2)
i)        Budgetary control & Standard costing.
ii)       Standard cost & Estimated cost.

b) From the following data calculate materials yield variance:-                (10)
Standard mix                                     Actual mix
Materials A                         200 units @ Rs12                              160 units @ Rs13
Materials B                         100 units @ Rs10                              140 units @ Rs10

Standard loss allowed is 10% of input. Actual output 275 units.

7. Explain with example:- (5x4)
1)      Job evaluation.
2)      Group bonus scheme.
4)      Break even analysis.

8. a) The following figure are available from the books of XYZ Ltd. For the year ended 31/12/1997.
Rs.
Material consumed                                                                                         10000
Wages                                                                                                                  8000