1 B.Com. Fourth Semester Examination (Year 2016) Cost Accounting Subject Code: BCOM-401 Paper Code: TMT-227 Time : 10 Minutes M.Marks : 10 Section A (Objective Type Questions) Attempt all questions. Each question carries 1 mark. Use the symbol () in the box for marking the correct answer. Q. No. 1. Choose the correct answer- 1. Which of these is not an objective of Cost Accounting? (a) Ascertainment of Cost, (b) Determination of Selling Price (c) Cost Control and Cost Reduction (d) Assisting Shareholders in decision making. 2. Stores Ledger is a - (a) Quantitative as well as value wise records of material received, issued and balance; (b) Quantitative record of material received, issued and balances (c) Value wise records of material received issued and balances (d) A record of labour attendance 3. Elements of cost of a product are- (a) Material only (b) Labour only (c) Expenses only (d) Material, Labour and expenses Roll No. Enrollment No. Enrollment No. Invigilator’s Signature
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1
B.Com. Fourth Semester Examination (Year 2016)
Cost Accounting Subject Code: BCOM-401
Paper Code: TMT-227
Time : 10 Minutes
M.Marks : 10
Section A
(Objective Type Questions)
Attempt all questions. Each question carries 1 mark. Use the symbol () in the box for marking the
correct answer.
Q. No. 1. Choose the correct answer-
1. Which of these is not an objective of Cost Accounting?
(a) Ascertainment of Cost,
(b) Determination of Selling Price
(c) Cost Control and Cost Reduction
(d) Assisting Shareholders in decision making.
2. Stores Ledger is a -
(a) Quantitative as well as value wise records of material received, issued and
balance;
(b) Quantitative record of material received, issued and balances
(c) Value wise records of material received issued and balances
(d) A record of labour attendance
3. Elements of cost of a product are-
(a) Material only
(b) Labour only
(c) Expenses only
(d) Material, Labour and expenses
Roll No.
Enrollment No. Enrollment No.
Invigilator’s Signature
2
4. Fixed cost is a cost-
(a) Which changes in total in proportion to changes in output
(b) Which is partly fixed and partly variable in relation to output
(c) Which do not change in total during a given period despite of changes in
output
(d) Which remains same for each unit of output.
5. Total cost of a product Rs. 10,000 Profit is @ 25% on Selling Price. Profit is-
(a) Rs. 2,500 (b) Rs. 3,000
(c) Rs. 3,333 (d) Rs. 2,000
6. Bin card is a-
(a) Quantitative as well as value wise records of material received, issued
and balance
(b) Quantitative record of material received, issued and balance
(c) Value wise records of material received issued and balance
(d) A record of labour attendance
7. Economic Order Quantity is that quantity at which cost of holding and carrying
inventory is-
(a) Maximum and equal
(b) Minimum and equal
(c) It can be maximum or minimum depending upon case to case
(d) Minimum and unequal
8. Which one out of the following is not an inventory valuation method?
(a) FIFO
(b) LIFO
(c) Weighted Average Method
(d) EOQ
3
9. ABC analysis is an inventory control technique in which-
(a) Inventory levels are maintained
(b) Inventory is classified into A, B and C category with A being the highest
quantity, lowest value
(c) Inventory is classified into A, B and C category with A being the lowest
quantity, highest value
(d) Either B or C
10. In process costing if an abnormal loss arises, the process account is generally
(a) Debited with the scrap value of the abnormal loss units
(b) Debited with the full production cost of the abnormal loss units
(c) Credited with the scrap value of the abnormal loss units
(d) Credited with the full production cost of the abnormal loss units
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4
B.Com. Fourth Semester Examination (Year 2016)
Cost Accounting Subject Code: BCOM-401
Paper Code: TMT-227
Time : 2 Hrs.50 Mts.
M.Marks : 60
Section B
(Short Answer Type Questions)
Attempt all questions. Each question carries 4 marks.
Q2. What do you mean Cost Accounting? How it is different from Financial Accounting.
OR
What are Direct Expenses? Explain with example.
Q3. What do you mean by Elements of Cost? Explain various elements of cost with example.
OR
A factory buys a component for production at Rs. 10 per unit. Annual requirement is
2000 units. Carrying cost is 10% p.a. of inventory and ordering cost is Rs. 40 per order.
The purchase manger proposes that as the ordering cost is very high it is profitable to
place single order for the entire annual requirement. He also says that if we order 2000
units at one time we can get 2% discount from the supplier.
Evaluate the proposal and make your recommendation.
Q4. Write short notes on: (A) Marginal costing, (B) BEP, (C) Angle of Incidence.
OR
What do you means by BEP? Explain a graphical representation of BEP with various
elements.
Q5. Write short notes on: (A) LIFO, (B) FIFO, (C) Base Stock Method.
OR
Write is Cost Audit? Explain the significance of cost audit.
Q6. What are Inventory Control Techniques? Explain ABC analysis with example.
OR
What do you mean by Halsey Premium Scheme? Write the merits of this scheme. On the basis
of following information calculate the amount of wages.
A labour is paid Rs. 2.50 per hour for the work to be completes in 8 hours. If he completes in
6 hours then what will he get as per Halsey method for 6 hours and 8 hours if premium is 50%.
Roll No.
5
Section C
(Long Answer Type Questions)
Attempt all questions. Each question carries 8 marks.
Q.7 The necessary particulars are as follows.
Year Sales (Rs.) Profit (Rs.)
2012 1,20,000 9,000
2013 1,40,000 13,000
Assuming that the cost structure and selling price remain the same in 2012 and 2013.Find
out:
1) P/V Ratio, BEP sales, and margin of safety.
2) Profit at a sales of Rs. 10,000.
3) Sales required to earn a profit of Rs. 20,000.
OR
A scooter company has presented the cost structure of a scooter as under:
Material = Rs. 4000
Labour = Rs. 1200
Variable exp = Rs. 2800
Fixed expenses = Rs. 1200
Total cost = 9200
Profit = 800
Selling prices = 10,000
No of scooter manufacture and sold was 500 Units. You are required to calculate-
1) P/V Ratio, BEP sales, and Margin of safety.
2) When selling price is reduced by Rs. 400 per scooter then P/V Ratio, BEP sales, and
margin of safety.
3) When selling price is reduced by 400 per scooter, how many scooters should be
manufactured and sold to maintain same level of profits.
Q.8 What is Reconciliation Statement? Why it is prepared? On the basis of following information
prepared a Memorandum Reconciliation Statement.
The profit and loss account of jai Engineering Company for the year ending 31st march 2013
shows a net profit of Rs. 50,000 while the profits as per cost records is Rs. 44,000. On scrutiny
of both the books, it was found:
1) Factory overheads are under recovered in cost accounts by Rs. 6000.
2) Office overheads were over recovered in cost account by Rs. 10,000.
3) Interest and dividend received Rs. 1500 were credited in financial accounts.
4) Interest on debentures Rs. 500 was paid was not recovered in cost accounts.
5) Transfer fees Rs. 1000 received on the transfer of shares were credited in financial
statements.
OR
What do you means by Inventory? Explain kinds of inventory with example of manufacturing
industry.
6
Q.9. A company of builders having a authorized capital of Rs.1,00,000 divided into 1,000
equity shares of Rs. 100 each, commenced operations on 1 Jan 2006 and during the year was
engaged in a contract. The contract price of which was Rs. 4,00,000. The trial balance
extracted from their books on 31st Dec 2006.
Particulars Amount (Dr.) Amount (Cr.)
Share capital (being 80% paid up) - 80,000
Creditors - 8,000
Land and building (at cost) 34,000 -
Cash at bank 9,000 -
Material 80,000 -
Plants 15,000 -
Wages 105,000 -
Expenses
Cash received (being 80% of work certified)
5,000 -
-
160,000
Total 248,000 248,000
Of the plant and machinery charged to the contract, plant costing Rs. 2,000 and material costing
Rs. 2,000 were destroyed by an accident. On 31st December 2006, plant which cost Rs. 4,000
was returned to store, value of material on site was Rs. 4000, cost of work done but not certified
was Rs. 2,000. Charged depreciation @ 10% on plant and carry to profit and loss account two-
third of profit.
Prepare Contract accounts, Work in progress accounts for the year and balance sheet on 31st
Dec 2006. And show your calculation of the amount to be credited to profit and loss account.
OR
What do you means by Weighted Average Method of valuation of inventory? From the
following particulars, prepare store ledger for the month of January 2013 showing
material issues prices on the Weighted Average Price Method.
Receipt of Materials Issues of Materials
Date Unit Rate per unit (Rs.) Date Units
1.1.2013 500 2 01.01.2013 400
10.01.2013 200 3 15.01.2013 100
18.01.2013 400 4 22.01.2013 200
28.01.2013 300 5 31.01.2013 300
On 29.01.2013 returned 10 units (issued on 15.01.2013). 2 units were loss revealed on Jan 28
during stock verification.
Q.10. M/s Aastha Construction Company took a contract on 1.1.2006 for the construction of
Cinema Hall. The contract price was Rs. 20,00,000. Following were the details on 31st
Dec. 2006.
Material purchased from the market = 3,50,000
Material issued from the stores = 3,80,000
Wages paid = 6,00,000
Plant issued to site = 1,00,000
Establishment Expenses = 90,000
Material transferred to other contract = 4,20,000
Material sold (cost Rs. 50,000) = 60,000
Material stolen = 40,000
Sales of waste material = 250
7
Contract completed on 31.12.2006. Prepare a contract account and charge depreciation @
15% p.a. on plant.
OR
Following details are related to process C which is the last process:
Particulars Units Amount (Rs.)
Transfer from Process B 4000 9000
Transfer from Process C to finished stock 3240 -
Direct Wages - 2000
Direct Materials - 3000
Factory overheads are 400% of direct materials. Normal wastage is 20% of Units entered.
Scrap value is Rs 5 per unit. You are required to prepare: (A) Process Account, (B)
Normal Wastage Account, (C) Abnormal Loss / Effectiveness account.
Q.11 Write short notes on: (A) Wastage, (B) Scrap, (C) Spoilage, (D) Defectives.
OR
A product obtained through three processes viz P, Q, and R. The details are as follows:
Particulars P Q R
Raw material introduced (Units) 2000 - -
Cost of raw material per Units Rs. 25 - -
Other direct Material 5000 3000 2000
Direct Wages 10000 12000 14000
Direct Expenses 1500 1600 1700
Normal Wastage (% of input) 8% 5% 2%
Indirect expenses of Rs. 12,000 shared in the ratio of 5:4:3. Prepare process account and
determine the cost per unit in each process.
------------------------------------
Material returned to store = 80,000
Plant sold on 1st July 2006 (Cost Rs. 50,000) = 30,000
8
B.Com. Fourth Semester Examination (Year 2016)
Principles of Management Subject Code: BCOM-402
Paper Code: TMT-228 Time : 10 Minutes
M.Marks : 10
Section A
(Objective Type Questions)
Attempt all questions. Each question carries 1 mark. Use the symbol () in the box for marking the
correct answer.
Q. No. 1. Choose the correct answer-
1. Management is basically concerned with:
a) Markets and Materials b) Machinery and tools
c) Manpower d) Work methods and knowledge
2. The process of management is ___________.
a) Stable and exact b) Run by rules
c) Tied with traditions d) Dynamic
3. The main pioneer of Human Relation thought is ___________.
a) Elton Mayo b) Frederick Taylor
c) Henry Fayol d) Peter Drucker
4. "A plan is a trap laid to capture the future".
a) Newman b) Hurley
c) Allen d) Terry
5. The essential element of a good decision is:-
a) Acceptable b) Self-centered
c) Fulfilment of feelings d) Profitable only for firms
6. Informal organisation has ____________ power:
a) Legitimate b) Structural
Invigilator’s Signature
Roll No.
Enrollment No.
9
c) Personal d) Position
7. An Autocratic Leader:
a) Promotes more dependence b) Allows freedom of work
c) Develops 'individuality' d) Delegates more authority
8. X and Y theory has been propounded by:
a) Maslow b) Herzberg
c) William Ouchi d) MC Gregor
9. Control is a:
a) Financial Function b) Managerial Function
c) Marketing Function d) Production Function
10. Which of the following is the operative of Human Resource Management?
a) Acquisition of Human Resources
b) Integration and Maintenance
c) Compensation & Appraisal
d) All of these
--------------------------
10
B.Com. Fourth Semester Examination (Year 2016)
Principles of Management Subject Code: BCOM-402
Paper Code: TMT-228
Time : 2 Hrs. 50 Mts.
M.Marks : 60
Section B (Short Answer Type Questions)
Attempt all questions. Each question carries 4 marks.
Q.No. 2. What are the functions of Management?
OR
"Social Responsibilities of Management is a two way process". Explain.
k
Q.No. 3. Explain in brief the process of decision making.
OR
Explain any three principles of organization.
Q.No. 4. What is Management by Exception?
OR
What do you understand by Planning?
Q.No. 5. Describe the process of motivation.
OR
What are the major functions of a Leader?
Q.No. 6. Discuss the scope of Direction.
OR
What are the objectives of Human Resource Management?
Section C (Long Answer Type Questions)
Attempt all questions. Each question carries 8 marks.
Roll No.
11
Q.No. 7. Discuss the principles of Management.
OR
What is 'Management by Objectives'? Discuss its importance.
Q.No. 8. What is meant by decision making? "What ever manager does, he does by decision
making". Comment.
OR
Explain the steps involved in the planning process.
Q.No. 9. Describe the factors of organization structure. Also discuss line organization structure.
OR
Explain in detail the various types of departmentation.
Q.No. 10. Discuss various leadership theories.
OR
Discuss the nature of control. Describe the steps in control process.
Q.No. 11. "Managing people is the heart and essence of being a manager". Explain this statement
and describe the characteristics of HRM.
OR
Discuss the functions and roles of a HR manager.
--------------------------------
12
B.Com. Fourth Semester Examination (Year 2016)
Wealth Tax Subject Code: BCOM-403
Paper Code: TMT-229 Time : 10 Minutes
M. Marks: 10
Section A
[k.M v
(Objective Type Questions)
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Attempt all questions. Each question carries 1 mark. Use the symbol () in the box for marking the