Cost Accounting BCom Question Paper : tnou.ac.in

University : Tamil Nadu Open University
Degree : B.Com
Department : Accounting and Finance
Year : III
Subject : Cost Accounting
Document Type : Question Paper
Website : tnou.ac.in

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TNOU B.Com Sample Question Paper

B.Com. Degree Examination :
January 2012
Third Year
Accounting and Finance :

Related / Similar Question Paper :
TNOU B.Com Income Tax Question Paper

Cost Accounting

Time : 3 hours
Maximum marks : 75

PART A : (3 * 5 = 15 marks)
Answer any THREE questions :
1. What are elements of cost?
2. What is meant by apportionment of overheads?
3. Write short notes on Labour Turnover.
4. From the following information determine E.O.Q.
Annual usage = 90,000 units
Cost per unit = Rs. 50
Buying cost per order = Rs. 10
Cost of carrying inventory = 10% of cost.
5. Sales Rs. 4,00,000
Variable cost Rs. 3,00,000
Fixed cost Rs. 40,000
What is the P/V ratio?

PART B : (4 * 15 = 60 marks)
Answer any FOUR questions :
6. Explain the causes for reconciliation of cost and financial books.
7. Two materials X and Y are used as follows :
Minimum usage – 50 units per week each
Maximum usage – 150 units per week each
Normal usage – 100 units per week each
Ordering quantities
X – 600 units Y – 1,000 units
Delivery period X – 4 to 6 weeks
Y – 2 to 4 weeks.
Calculate for each material.
(a) Minimum level
(b) Maximum level
(c) Ordering level
(d) Average stock level.

8. Find out the wage per hour from the following information
Name of the worker Raman
Wages per year Rs. 2,400
Annual Bonus 25% of wages.
Employer’s contribution to PF. 10% of wages
Employee’s contribution to PF. 8% of wages
Employer’s contribution to ESI 3% of wages.
Total leave with pay allowed during the year 60 days.
Cost of labour welfare amenities Rs. 8,000
No of work men = 200
Normal idle time 80 hours
Working days per annum = 320 days of 8 hours.

9. The financial books of a company showed a net profit of Rs. 2,57,510 for the year ended 31st December 2007. Whereas the cost accounts showed a net profit of Rs. 3,44,800 for the same corresponding period. The following facts are brought to light. Prepare a reconciliation statement.
Rs.
Under recovery of factory overheads in cost A/c 6,240
Over recovery of over heads in cost a/c 3,400
Depreciation in financial accounts 22,400
Depreciation in cost accounts 25,000
Interest on investment not included in cost 16,000
Loss of obsolescence charged in financial accounts 11,400
Income tax debited in financial accounts 80,600
Bank interest and dividend credited to financial accounts 2,450
Loss in stock not charged in cost a/c 13,500

10. ABC & Co produces a product through two process R & G. Prepare the process accounts from the following details relating March 2010.
Process Process
R. G.
Rs. Rs.
Material 45,000 15,000
Labour 60,000 25,000
Chargeable expenses 5,000 10,000
The overheads amounted to Rs. 17,000 are to be apportioned on the basis of labour.

11. From the following data calculate
(a) P/V ratio
(b) Variable cost
(c) Profit.

12. The following extract of costing information relates to commodity ‘A’ for the half year ending 31st December 2010.
Rs.
Purchase of raw materials 1,20,000
Works overheads 48,000
Direct wages 1,00,000
Carriage on purchase Stock (1st July 2010) : 1,440
Raw materials Finished stock (1,000 tons) 20,000
Stock (31st December 2010 ) Raw materials
Finished products (2,000 tons) 22,240
Work in progress (1st July 2010) 4,800
Work in progress (31st December 2010) 16,000
Sales–Finished goods 3,00,000
Selling and distribution overheads are Re. 1 per ton sold. 16,000 tons of commodity were produced during the period.
Prepare cost sheet.

Corporate Accounting

Time : 3 hours
Maximum marks : 75
SECTION A : (3 × 5 = 15 marks)
Answer any THREE questions :
1. What is meant by profit prior to Incorporation?
2. Who are preferential creditors?
3. X Ltd. was incorporated on 1.1.2005 issued applications for 5,00,000 equity shares of Rs. 10 each. The entire issue was fully underwritten by A, B, C and D.
A – 2,00,000 shares ; B – 1,50,000 shares ;
C – 1,00,000 shares and D – 50,000.
Applications were received for 4,50,000 shares of which marked applications were as follows :
A – 2,20,000 shares ; B – 90,000 shares ;
C – 1,10,000 shares and D – 10,000 shares.
You are required to calculate the net liability of individual underwriters, by giving credit to unmarked applications in the ratio of gross liability.