07-06-2014, 03:44 PM
Semester II The question paper of Cost and Management Accounting
1370245562-costandmanagementaccounting.docx (Size: 15.17 KB / Downloads: 16)
a) What is cost sheet?
b) What is work-in-progress?
c) Define the term ratio?
d) What is P/V Ratio?
e) What is cash budget?
f) What is flexible budget?
g) What is marginal costing?
h) What is contract costing?
i) What is cost control?
j) What is reconciliation statement?
k) Define the break-even point?
l) How calculate the gross profit ratio?
m) What are the elements of costing?
n) What is Labour Budget?
o) What is buy decisions?
What is cost accounting? Discuss its advantages and limitations.
Q.3. From the following particulars of a manufacturing firm , prepare a statement of cost:
Particulars
Stock of material on 1st January 2010 20,000
Purchases of raw material in Jan 2010 5,50,000
Stock of finished goods on 1st Jan 2010 25000
Productive wages 2,50,000
Finished goods sold 12,00,000
Works overhead charges 75,000
Office and general expenses 50,000
Stock of materials on 31st Jan 2010 70,000
Stock of finished goods on 31st Jan 2010 30,000
Q.4. Explain the tools and techniques of management accounting .
Q.5 What is operating costing .Discuss the features and application of operating costing
Q.6. From the following data calculate the cost per mile of a vehicle.
Particulars Rs.
Value of vehicles 15,000
Road license for the year 500
Insurance charges per year 100
Garage rent per year 600
Driver’s wages per month 200
Cost of petrol per liter 0.80
Miles per liter 8
Proportional charge for tyre and maintenance per mile 0.20
Estimated life 1,50,000miles
Estimated annual mileage 6000 miles
Ignore interest on capital.
Q.7. Following is the balance sheet of Goda enterprises ltd. on Dec 31st 2011.
Liabilities Rs. Asset Rs.
Equity share capital 4,00,000 Goodwill 1,00,000
Capital reserve 80,000 Fixed assets 5,00,000
12% mortgage loan 2,00,000 Stock 1,20,000
Creditors 1,00,000 Investment(Short term) 1,00,000
Bank overdraft 40,000 Cash 1,80,000
Provision for tax 60,000
Profit and Loss A/c 1,20,000
10,00,000 10,00,000
Calculate the following ratios:
1.Current ratio
2. Quick ratio
3.Proprietary ratio
Q.8. ‘ A’ ltd. has furnished the following particulars relating to the year ending 31st March 2012.
Particulars relating to the year ending 31st March 2012.
Particulars Rs.
Net profit 1,00,000
Fixed cost 3,00,000
Sales 10,00,000
Variable cost 6,00,000
Calculate
1. P/V ratio 4.Profit for sales of Rs. 12,00,000
2. BEP 5. Sales to earn profit of Rs. 2,00,000
3. Margin of safety
Q.9. A company expects to have Rs. 25,000 in bank on 1st May 2011 and requires you to prepare an estimate of cash position during the three month May ,June and July 2011. The following information is supplied
Month Sales Purchase Wages office Exp. Factory Exp. Selling Exp.
March 50,000 30,000 6000 4000 5000 3000
April 56,000 32,000 6500 4000 5500 3000
May 60,000 35,000 7000 4000 6000 3500
June 80,000 40,000 9000 4000 7500 4500
July 90,000 40,000 9500 4000 8000 4500
Other information:
1. 20% of sales are in cash ,remaining amount is collected in the month following that of sales.
2. Suppliers supply goods at two month’s credit
3. Wages and all other expenses are paid in the month following the one in which they are incurred.
4. The company pays dividends to shareholders and bonus to workers of Rs. 10,000 and Rs. 15000 respectively in the month of May.
5. Plant has been ordered and is expected to be received in June. It will cost Rs. 80,000 to be paid in June.
6. Income tax Rs. 5000 is payable in July.