PART A (10 2 = 20 marks) Answer ALL the questions. All questions carry equal marks. Answer to each question should not exceed 50 words.
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1 MAY 2011 Time : Three hours Maximum : 100 marks PART A (10 2 = 20 marks) Answer ALL the questions. All questions carry equal marks. Answer to each question should not exceed 50 words. 1. State the objectives of cost accounting. AhUPÂø»U PnUQ ¼ß õup[pøí ÂÁ UPÄ. 2. What is cash flow statement? öµõup Kmh AÔUøP GßÓõÀ GßÚ? 3. What is the significance of preparing schedule of changes in working capital? øh øó u¼à õøó[pò u õ vß UQ zxázøuu TÖP. 4. State the advantages of standard costing. uh AhUP PnUQ ¼ß ßø PøÍU SÔ kp. 5. State the difference between marginal costing and absorption costing. \º AhUPÂø» PnUQ ¾US, CÖv{ø» ö\»ä PnUQ ¾US EÒÍ ÁÖ õmiøúu TÖP. 6. State the limitations of ratio analysis. ÂQu õs õmiß SøÓ õkpøíu TÖP. 7. What is meant by flexible budget? õö ußø õú ÁµÄ ö\»ä vmh GßÓõÀ GßÚ? 8. What is responsibility accounting? ö õö zußø Áõ u PnUQ À GßÓõÀ GßÚ?
2 9. What is Just in time costing? \ õú µ AhUPÂø» C À GßÓõÀ GßÚ? 10. State the features of process costing. i øó AhUPÂø» PnUS øó ß C À PøÍ öu ÂUPÄ. PART B (5 6 = 30 marks) Answer ALL the questions. All questions carry equal marks. Answer to each theory question should not exceed 250 words. 11. (a) From the following Balance sheets of a company prepare the statement showing changes in working capital. Liabilities Assets Share capital 2,50,000 3,50,000 Fixed assets 4,00,000 5,00,000 Profit 80,000 95,000 Stock 1,00,000 2,00,000 S. creditors 2,00,000 3,30,000 Debtors 1,50,000 2,00,000 B/P 1,00,000 90,000 Bills Bank o/d 80,000 90,000 Receivable 80,000 70,000 O/s expense 15,000 11,000 Investment 60,000 40,000 Provision for tax 35,000 39,000 Bank 10,000 50,000 Proposed dividend 40,000 55,000 8,00,000 10,60,000 8,00,000 10,60,000 J P ö Û ß RÌUPõq C {ø»u SÔ ¼ x øh øó»uú õö õk AÔUøP JßÔøÚ u õ UPÄ. ö õö PÒ ö\õzxupò [S»uÚ 2,50,000 3,50,000 {ø» õú ö\õzxupò 4,00,000 5,00,000 C»õ 80,000 95,000 \µus 1,00,000 2,00,000 PhÜ uõº 2,00,000 3,30,000 PhÚõÎPÒ 1,50,000 2,00,000 2
3 ö õö PÒ ö\õzxupò ö\¾zxuøs ö Öu¾US õøöa^mk 1,00,000 90,000 õøöa^mk 80,000 70,000 Á[Q ÀÁøµ ØÖ 80,000 90,000 u½kpò 60,000 40,000 ö\¾zu Ási Á[Q 10,000 50,000 ö\»äpò 15,000 11,000 Á JxUS 35,000 39,000 Ez u\»õ DºÄ 40,000 55,000 8,00,000 10,60,000 8,00,000 10,60,000 How will you control wastage and scrap in cost accounts? GÆÁõÖ Ãs PÈÄ, E õp ØÓøu Pmk õk ö\ Áõ? 12. (a) Find current asset and current liability if the current ratio is 2.5 and the working capital is Rs. 30,000. h ö\õzøu², h ö õö ø ² Psk i. h ÂQu 2.5, h»uú ¹. 30,000 BPU öpõsk. State the benefits of activity based costing. 13. (a) Calculate : ö\ À øó AhUPÂø» PnUQ ¼ß ßø PøÍU TÖP. PV ratio Break even point (iii) Margin of safety (1) sales = units (2) selling price Rs. 6 per unit (3) variable cost Rs. 4 per unit (4) fixed cost Rs. 30,000 3
4 Psk i : [PÎ ÂQu»õ mh ØÓ ÒÎ (iii) õxpõ GÀø». (1) ÂØ øú 20,000 A»SPÒ (2) ÂØ øú Âø» ¹. 6/& A»S (3) õö ö\»ä ¹. 4/& A»S (4) õóõu Âø» ¹. 30,000 Explain the advantages of responsibility accounting. ö õö Áõ u PnUQ ¼ß ßPøÍ ÂÁ UPÄ. 14. (a) Calculate : labour cost variance labour rate variance (iii) labour efficiency variance PnUQkP : (1) standard rate/hour = Rs. 5, standard time 500 hours (2) actual rate/hour = Rs. 6, actual time 490 hours T¼ Âø» õö õk T¼ Âu õö õk (iii) T¼ vóø ÁÖ õk (1) {ø» õú Ãu / o ¹. 5, {ø» õú µ 500 opò (2) Esø õú Ãu / o ¹. 6, Esø õú µ 490 opò Explain the features of balanced score card. Balanced Score Card ß UQ zxázøu ÂÁ UPÄ. 4
5 15. (a) Prepare process accounts for the following. Process A Process B Materials (Rs.) Labour (Rs.) Overheads (Rs.) Input (units) Output (units) Normal loss % 10% 4% Scrap value per unit (Rs.) 1 2 RÌUPõq  µ[pîß Ai øh À i{ø»u PnUSPøÍ u õ UP. i{ø» A i{ø» B» ö õ Ò ¹ T¼ ¹ Øö\»Ä ¹ EÒö\õzxPÒ (A»SPÒ) ¹ EØ zv (A»SPÒ) ¹ \õuõµn mh (%) 10% 4% G v ß Kº A»S (¹.) 1 2 What are the merits and limitations of budgetary control? ÁµÄ ö\»ä vmh Pmk õmiß ßø PÒ, wø PÒ õøá? 5
6 PART C (5 10 = 50 marks) Answer ALL the questions. All questions carry equal marks. Answer each question should not exceed 500 words. 16. (a) The expenses for budgeted producting of units in a factory are as follows : Per unit Rs. Material 70 Labour 25 Variable overhead 20 Fixed overhead (Rs ) 10 Variable expenses (Direct) 5 Selling expenses (10% fixed) 13 Distribution overhead (20% fixed) 7 Administration expenses (fixed Rs ) 5 Prepare a flexible budget for units and 6000 units. J öuõèø\õø» À A»SPÐUPõÚ vmhªmh EØ zv ö\»äpò ßÁ õö : J A»QØS ¹.» ö õ Ò 70 EøÇ 25 õö Øö\»ÄPÒ 20 {ø» Øö\»ÄPÒ (¹ ) 10 õö ö\»äpò ( µi) 5 6
7 ¹. ÂØ øú ö\»äpò (10% {ø» õúx) 13 Â{ õp ö\»äpò (20% {ø» õúx) 7 {ºÁõP ö\»äpò ({ø» õúx ¹. 50,000) A»SPÒ ØÖ 6000 A»SPÒ u õ uøpõú ö QÌÄ vmhzøu u õ UPÄ. How will you carry out cost reduction and cost control in an organization? AhUPÂø»ø U SøÓzuÀ ØÖ Pmk kzuà BQ ÁØøÓ J {ÖÁÚzvÀ GÆÁõÖ øh øó kzxáõ? 17. (a) From the following information of a product calculate : material cost variance material price variance (iii) material usage variance (iv) material mix variance Material Std Qty Std price Actual Qty Actual price Kgs. Rs. Kgs. Rs. X Y Z J ö õ ÐUPõÚ ßÁ  µ[pøíu öpõsk» ö õ Ò AhUPÂø» õö õk» ö õ Ò Âø» õö õk (iii)» ö õ Ò ß õö õk (iv)» ö õ Ò P»øÁ õö õk BQ ÁØøÓ PõsP. 7
8 » ö õ Ò vmh AÍÄ vmh Âø» 8 Esø õú AÍÄ Esø õú Âø» Q»õ ¹. Q»õ ¹. X Y Z Explain the recent trends in reporting corporate performance. {ÖÁÚzvß ö\ À øópøí ÂÁ US uøpõ» øh øópøí ÂÍUSP. 18. (a) Frame balance sheet with details below : Gross profit ratio (20% of sales) = Rs Share capital = Rs Credit sales and total sales = 80% Assets turnover = 3 times Inventory turnover = 8 times Average collection period (360 days) = 18 days Current ratio = 1.6 Long term debt equity = 40% C {ø» SÔ RÌUPõq ÂÁµ[PÒ öpõsk u õ UPÄ. ö õzu C»õ ÂQu (20% ÂØ øú «x) ¹. 6,00,000 [S uà ¹. 50,000 Phß ÂØ øú² ö õzu ÂØ øú² = 80% {ø» ö\õzx ÂØ øú ÂQu = 3 øó \µus ÂØ øú ÂQu = 8 øó \µõ\ ö\¾zxuà Põ» (360 õmpò) = 18 õmpò h ÂQu = 1.6 }sh Phß J µä ÂQu = 40%
9 Explain the importance of marginal costing in management decision making.»õsø À {ºÁõP iöák và CÖv{ø» AhUPÂø»U PnUQ ¼ß UQ zøu ÂÍUSP. 19. (a) From the following balance sheets of X Co. Ltd. Prepare cash flow statement. Liabilities Assets Rs. Rs. Rs. Rs. Equity share capital 3,00,000 4,00,000 Goodwill 1,15,000 90,000 8% P.Share capital 1,50,000 1,00,000 Land and G.reserve 40,000 70,000 Building 2,00,000 1,70,000 P&L 30,000 48,000 Plant 80,000 2,00,000 Proposed dividend 42,000 50,000 Debtors 1,60,000 2,00,000 Creditors 55,000 83,000 Stock 77,000 1,09,000 Bills payable 20,000 16,000 Bills Provision for tax 40,000 50,000 Receivable 20,000 30,000 Bank 25,000 18,000 6,77,000 8,17,000 6,77,000 8,17,000 Additional information : Depreciation of Rs. 10,000 and Rs. 20,000 have been charged on plant and land and buildings during the year An interim dividend of Rs. 20,000 has been paid in (iii) Rs. 35,000 income tax was paid in
10 ßÁ X P ö Û ß C {ø»u SÔ ¼ x öµõup Kmh AÔUøPø u õº ö\ P. ö õö PÒ ö\õzxupò ¹. ¹. ¹. ¹. [S»uÚ 3,00,000 4,00,000 Øö º 1,15,000 90,000 8% ßÝ ø [S»uÚ 1,50,000 1,00,000 {» ØÖ Pmih[PÒ 2,00,000 1,70,000 ö õxpõ 40,000 70,000 ö õô 80,000 2,00,000 C»õ mh PnUS 30,000 48,000 PhÚõÎPÒ 1,60,000 2,00,000 ß ö õè mh \µuq 77,000 1,09,000»õ DÄ 42,000 50,000 ö ÖuØS PhÜ uõº 55,000 83,000 õøö^mk 20,000 30,000 ö\¾zxuøs õøöa^mk 20,000 16,000 Á[Q C 25,000 18,000 Á JxURk 40,000 50,000 TkuÀ upáàpò : 6,77,000 8,17,000 6,77,000 8,17, BsiÀ ö õô ØÖ {» ØÖ Pmih[PÒ «x u õú ¹ ØÖ ¹ øó PnUQh mhx BsiÀ ¹. 20,000 CøhUPõ» [Põuõ ÁÇ[P mhx. (iii) 2008 BsiÀ ¹. 35,000 Á õúá ö\¾zu mhx. What is standard costing? Explain its objectives. uµ AhUPÂø» GßÓõÀ GßÚ? Auß õup[pøí ÂÍUSP. 10
11 20. (a) A company shows the following results for two periods. Calculate : PV ratio Fixed cost (iii) BEP (iv) Profit when sales are Rs. 30,000. Period Sales Rs. Profit Rs. I 20,000 10,000 II 10,000 4,000 J {Ö zvß ßÁ Cµsk Põ»[PÐUõÚ ÂÁµzvøÚU öpõsk [PÎ ÂQu {ø»a ö\»äpò (iii)»õ mh ØÓ {ø» (iv) ÂØ øú ¹. 30,000 GÛÀ»õ BQ ÁØøÓ PnUQkP. Põ» ÂØ øú ¹. C»õ ¹. I 20,000 10,000 II 10,000 4,000 What is funds flow statement? Explain its various uses. {v h õmh AÔUøP GßÓõÀ GßÚ? Auß ßPÒ ØÔ ÂÍUSP. 11
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