BBA (302) (SO5) (OLD) (Sem. – 3rd) COST ACCOUNTING

10:41:00 PM

Total No. of Questions : 13] [Total No. of Pages : 03

Paper ID [B0113]

(Please fill this Paper ID in OMR Sheet)

BBA (302) (SO5) (OLD) (Sem. – 3rd)

COST ACCOUNTING

Time : 03 Hours Maximum Marks : 75

Instructions to Candidates :

    1. Section – A is Compulsory.
    2. Attempt any Nine questions from Section – B.

    Section – A

    Q1) (15 x 2 = 30)

    1. Briefly explain the scope of cost accounting.
    2. Define indirect materials.
    3. Explain sunk cost.
    4. Distinguish between direct labour and indirect labour.
    5. Explain the concept of office and administration overhead.
    6. What is margin of safety?
    7. Explain break even point.
    8. What is opportunity cost?
    9. What is the difference between relevant and irrelcvant cost?
    10. What do you mean by make or buy decisions?
    11. Briefly explain standard cost.
    12. Explain material yield variance.
    13. Can you setup standard costing without a budget?
    14. What do you mean by cost sheet?
    15. Prepare a chart showing different elements of cost.

    Section – B

    (9 x 5 = 45)

    Q2) Distinguish between period cost and product cost. Why this distinction is considered

    Important?

    Q3) Cost volume profit analysis is very useful technique to management for cost control,

    Profit planning and decision making. Explain.

    Q4) What is contribution? How is it different from profit?

    Q5) You are required to calculate :

    1. Margin of safety.
    2. Sales.
    3. Variable costs.

From the following figures : Fixed cost Rs.12000/-, Profit Rs.10000/- Break Even Sales

Rs.60000/.

Q6) Explain main feature of relevant costs. Give suitable examples to support your explanation.

Q7) What are the factors taken into considerations while deciding whether to buy or make?

Q8) Explain various conditions of boom.

Q9) A company has earned a contribution of Rs.200000 and net profit Rs.150000 on sales of Rs.800000.

What is margin of safety?

Q10) Data relating to job are as :

Standard rate of wages per hour Rs.10

Standard Hours Rs.300

Actual rate of wages per hour Rs.12

Actual hours Rs.200

You are required to calculate

    1. Labour cost variance
    2. Labour rate variance
    3. Labour efficiency variance.

Q11) Calculate overhead variance

Standard Actual

Fixed overhead 8000 8500

Variable overhead 12000 11200

Output in units 4000 3800

Q12) Tabulate the elements of cost showing usual items of expenditure pertaining to each.

Q13) How reconciliation between budgeted profit and actual profit is done?


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