Financial Accounting and Auditing - Cost Accounting, June 2023 PDF

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4 16 3 7 4A 0C 98 4E Paper / Subject Code: 83007 / Financial Accounting and Auditing X -Cost Accounting EC 61 42 66 38 4A 84 0C C1 98 4E T.Y.B.Com (Sem-VI) June-2023 BC 61 42 66 AE 38 Time: 3 Hours Marks: 100 84 C 60 C1 8 4 9 0 C Financial Accounting and Auditing X -Cost Accounting 61 DA 2 6 AE B 4 6 4 C 60 C1 N. B. (1) All questions are compulsory. 8 C1 14 0 BC DA 6 E 6 EB 6 (2) Figures to the right indicate full marks. 4A 84 C 0 C1 C1 A6 E7 0 C 61 (3) Use of simple calculator is allowed. 66 AE 0B EB 1D 84 4 C1 (4) Working notes should form part of your answer. 8 14 A6 83 E7 BC C AE 46 B 29 D 4 60 7E 38 8 1 14 C4 BC C Q.1 (A) MULTIPLE CHOICE QUESTIONS (ANY 10) (10 Marks) A 98 4E 46 EB 60 1D A 0 2 i. If a contract is 40 % complete, credit taken to the profit and loss account is___________ 8 8 14 A6 C4 16 3 7 C C 8 4E  40 % of the notional profit 46 0B EB EC 29 0 D 6 38 C8 1 6 C4 6  1/3 of Notional profit x Cash received / work certified. 7 4A BC DA 1 8 4E 0B EC 9 0 61  2/3 of Notional profit x Cash received / work certified. 42 7E 66 8 1 A6 3 A 84 BC C 1 8 E  40 % of Contract Price 4 EC 9 60 D 84 BC 61 60 2 7E 1 4 6 83 4A 4 BC ii. Cost allocation bases in Activity Based Costing should be ______________ DA C 0 1 4E 8 A6 EC 29 0 BC 61  Cost drivers E 66 38 C1 4 1D 7 A 84 0C 0 C1 98 4E  Activity Centres 4 EB A6 C BC 61 42 66 E 38 B 1D E7 A  Cost Pools 4 C 0 1 7E 98 8 14 A6 C 60 84 C BC 42 4E AE  Resources 46 0B 16 D 83 0C 7E 38 C8 1 14 A6 EC 29 C iii. In contract costing payment of cash to the contractor is made on the basis of___________ 98 4E 66 46 B B C4 1D 4A  Retention money. 0 42 C1 E 38 8 A6 7 60 BC C 61 0C 98 4E AE  Certified work. EB 16 D 84 60 42 66 38 1 14 EC  Work in progress. 7 C C DA 0C 1 98 4E 46 B EB EC 4A  Uncertified work. 0 42 66 38 C8 C1 A6 E7 4A 61 0C 1 98 0B EB EC iv. If input is 10,000 units, Normal loss is 5% of input, Standard output will be __________ D 4 84 61 42 66 8 1 A6 3 7 4A  10,500 BC 84 BC 0C C1 8 4E 9 1D BC 61 60 2 7E  9,000 66 AE 8 4 83 84 C DA 0C 0 C1 4E 14 B  9,500 A6 29 BC 7E 66 AE 8 46 C1 C4 1D 83  10,000 60 1 4E C8 14 EB C 9 0 BC DA 2 6 AE 38 46 0B v. Labour Efficiency Variance is calculated as________________ 4 6 E7 0C 1 98 C8 C1 14 A6 EC  (Standard Hour –Actual Hour) * Standard Rate 84 42 6 46 0B EB 16 D 83 4A  (Actual Hour – Standard Hour) * Standard Rate 0C C8 C1 A6 EC 29 E7 61 6  (Standard Rate—Actual Rate) * Standard Quantity 0B B C4 16 D 4 4A 4 7E 38 C8 C1 A6 EC 60  (Actual Rate—Standard Rate) * Standard Quantity 61 98 4E 0B B 16 D 4A 84 7E 8 vi. The balance of the work in progress is equal to_____________ C1 A6 EC 83 C 1 4E 46  Cost of Finished work 0B B 29 D 4A 7E 8 C8 C1 A6 4 83  Cost of Unfinished work 61 0C 4E 0B B 29 1D 84 7E 66  Cost of Material 8 A6 4 83 BC C 0C C1 4E B  Cost of Finished & Unfinished work 29 1D 60 7E 6 8 4 16 83 C DA 0C 4E vii. Purchases of special jobs is debited under non-integrated system to ___________ EB EC 29 6 8  WIP ledger control A/C C1 4 16 83 E7 A 0C 14 EB EC 29  Cost ledger control A/C 84 6 46 4 16 83 E7 A  Stores ledger control A/C 0C C8 14 EC 29 84 6 46  Costing P/L A/C 4 16 83 A 0C C8 14 EC 29 6 46 0B C4 16 A C8 14 A6 EC 23533 Page 1 of 14 60 46 0B 16 D A C8 C1 14 A6 EC 46 0B D 4A C8 C1 BC1DA60BC84614AEC1660C4298384E7E A6 61  4 16 3 7 4A 0C 98 4E Paper / Subject Code: 83007 / Financial Accounting and Auditing X -Cost Accounting EC 61 42 66 38 4A 84 0C C1 98 4E BC 61 42 66 AE 38 viii. If sales are Rs. 5,00,000; variable cost are Rs. 2,00,000; the P/ V ratio will 84 C 60 C1 8 4 9 0 C 61 be____________ DA 2 6 AE B 4 6 4 C  60% 60 C1 8 C1 14 0 BC DA 6 E 6  40% EB 6 4A 84 C 0 C1 C1 A6 E7