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    Term-End Examination C/1 CD December, 2012 Elective Course: Commerce Eco-10: Elements of Costing

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    Rohit Ghuse
    This document is an exam for an elective course in commerce titled "Elements of Costing". It contains two sections with multiple choice questions regarding costing concepts and calculations. Section A includes questions about factors in installing a costing system, inventory control, timekeeping methods, and short notes on costing topics. Section B presents a case study requiring calculations for a contract account, including working notes. It also includes questions on preparing a cost sheet and calculating reorder levels, stock levels, and factory overhead apportionment.

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    Term-End Examination C/1 CD December, 2012 Elective Course: Commerce Eco-10: Elements of Costing

    Uploaded by

    Rohit Ghuse
    18 views8 pages
    This document is an exam for an elective course in commerce titled "Elements of Costing". It contains two sections with multiple choice questions regarding costing concepts and calculations. Section A includes questions about factors in installing a costing system, inventory control, timekeeping methods, and short notes on costing topics. Section B presents a case study requiring calculations for a contract account, including working notes. It also includes questions on preparing a cost sheet and calculating reorder levels, stock levels, and factory overhead apportionment.

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    ECO-10

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    This document is an exam for an elective course in commerce titled "Elements of Costing". It contains two sections with multiple choice questions regarding costing concepts and calculations. Section A includes questions about factors in installing a costing system, inventory control, timekeeping methods, and short notes on costing topics. Section B presents a case study requiring calculations for a contract account, including working notes. It also includes questions on preparing a cost sheet and calculating reorder levels, stock levels, and factory overhead apportionment.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    18 views8 pages

    Term-End Examination C/1 CD December, 2012 Elective Course: Commerce Eco-10: Elements of Costing

    Uploaded by

    Rohit Ghuse
    This document is an exam for an elective course in commerce titled "Elements of Costing". It contains two sections with multiple choice questions regarding costing concepts and calculations. Section A includes questions about factors in installing a costing system, inventory control, timekeeping methods, and short notes on costing topics. Section B presents a case study requiring calculations for a contract account, including working notes. It also includes questions on preparing a cost sheet and calculating reorder levels, stock levels, and factory overhead apportionment.

    Copyright:

    © All Rights Reserved
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    of 8

    No.

    of Printed Pages : 8 ECO-10

    CD BACHELOR'S DEGREE PROGRAMME


    Term-End Examination
    C\1
    CD December, 2012
    ELECTIVE COURSE : COMMERCE
    ECO-10 : ELEMENTS OF COSTING
    Time : 2 hours Maximum Marks : 50
    (Weightage 70%)
    Note : Attempt any two questions from section - A and any
    two questions from section - B.
    SECTION-A
    1. Describe the various factors that are taken into 7+3
    account for installation of a costing system in an
    organisation, and state the main difficulties
    involved in installation of such a system.

    2. (a) What do you understand by inventory 5, 5


    control ? State its main objectives.
    (b) Distinguish between time keeping and time
    booking and enumerate two methods of
    each.

    3. Write short notes on any two of the following : 5, 5


    (a) Stores records
    (b) Requisites of a good method of pricing issue
    of materials
    (c) Payroll Accounting
    (d) Memorandum Reconciliation Account

    ECO-10 1 P.T.O.
    SECTION-B
    15
    4. A firm of building contractors started its work on
    a building on 1-1-2009. Following were the
    expenditure on the contract for Rs. 3,00,000
    during the year 2009 :

    Rs.

    Materials issued to contract 51,000

    Plant issued to contract 15,000

    Wages 81,000

    Other expenses 5,000

    Cash received on account upto 31-12-2009


    amounted to Rs. 1,28,000 being 80% of the work
    certified. Of the plant and materials charged to
    contract, plant costing Rs. 3,000 and materials
    costing Rs. 2,500 were lost. On 31-12-2009, plant
    costing Rs 2,000 was returned to stores. The cost
    of work done but uncertified was Rs. 1,000 and
    materials costing Rs. 2,300 were in hand at site.
    Depreciation on plant is charged at 15% p.a. Two
    thirds of the profits received are to be taken to
    Profit and Loss Account.

    Prepare the Contract Account and show the


    working notes and the necessary data relating to
    work progress in the balance sheet.

    ECO-10 2
    5. (a) Prepare cost sheet from the following data
    10, 5
    and ascertain the cost and profit per unit.
    Rs.
    Raw materials consumed 4,00,000
    Direct Wages 2,00,000
    Factory Overheads 40,000
    Office overheads
    (10% of works cost)
    Selling overheads 36,000
    Units produced 2,000
    Units sold 1,800
    Selling price per unit Rs. 500
    (b) What is abnormal process gain ? How do
    you deal within cost accounts ?
    6. (a) The following data are available in respect
    of material ZM-3 : 9, 6
    Supply period 2 to 4 months
    Consumption Rate
    Maximum 300 units per month
    Minimum 50 units per month
    Normal 150 units per months
    Annual 1,800 units
    Storage costs are 25% of stock value.
    Ordering costs are Rs. 200 per order. Price
    per unit of material Rs. 32.
    Compute :
    (i) Reorder level
    (ii) Minimum stock level
    (iii) Maximum stock level

    ECO-10 3 P.T.O.
    (b) Explain the principles of apportionment of
    factory overheads with examples.

    ECO-10 4
    3c1TrET WRIWT
    lltaiT
    f41:11:4T, 2012
    ti' —" : q l uvrti

    1:4311. - 10 : mi+id 9•

    TrPRT : 2 ti u2 3-fw : 50
    (Tff 70 % )
    tvusw#4 --)e. 4.?-f371?-?..quaul- # --)e4TIYi-

    iguS
    1. *-9-Tr Qmid i Tf rcrir f*--9- 7+3
    rar117 uTri (A.-11 -q--ffq7 fa-)
    -51-0-rr cril T-24-79-r f-*-9- chrd-11q). 'H IH
    t
    2. (a) 1-e.11-> f9-zfTTr 31-rcr ? iwr 5, 5
    3tznt 3- 7N I
    (b) 2.11 1.113-td7t? 31*T
    oh t-t -Nferz4 .--1-rP7 I
    3. F-14--irorod -4 kt -ER TATITT re-u4F-4 ffffti7 5, 5
    (a) fc*--rt
    (b) Trrrn-fr i 1 T fffqi-Tur
    3-Ed7z1W cicci
    (c) Tr-qT cl (Air4)-1
    (d) H .51-ETFTIW9. INMT

    ECO-10 5 P.T.O.
    4.0 U -731

    4. f9-141-0-r t-kqtch1 fat 4,4 .4 -) TR 1 15


    2009 ch.). f9-1=6-7 'T1-4 ;410-54 t*-711. I 3,00,000 T.

    tt ad 2009 I-1 I--1 FM d :

    T.

    51,000

    Fri f9-4-F-1:17 71-fa 15,000

    81,000

    3F:f 5,000

    31 f7:tq-T, 2009 doh tk- T-dT 1,28,000 T.

    -174 .TT 80 3f-d7Tff 2.T1 I f9-7ffiT-d

    3,000 T. chi ril+Id TT 1:Fta -ff2IT 2,500 chl


    0141c-1 ch1 ciPik I 31 f---4q-T, 2009 ch
    2,000 T. ci-1 optcr cnk furl , iii
    343r-grfurd m1optcr 1,000 T. pft a21T 2,300 T. a-)
    Tn-n-th f9Tritrr A 14- 211 I IR 15% -51fff
    .14 41 7 r(-Him om -wr
    (2/3) 011T- 11--I .UT 4 34-ffr-Tff t

    twr ur-d-r 4-974 #4-4 a, ref chR fa-ccit 9.ft q11-,31 I


    TIT2T fqq-TUT (data relating to work-

    in-progress) ch) 4---R -qfi-a fq-UT- I

    ECO-10 6
    5. (a) 14-1 cirocr 3Tf-*-*' opid fa---a-Tut -aft
    10, 5
    7R1-r Ord T*-r (11,1d Hronci-r :

    -Erzt- rr fwqr III 4,00,000


    2,00,000
    34Rce44 40,000
    chlq (14 dLi to4i41

    (1197# 10 .511
    -
    d 7T-d)

    toqei 36,000
    3:1TF0 c:11W-II 2,000
    f-
    d-Wzr 1,800
    500 T. s1rd
    (b) 3-171T4T-431 cteil -7-e:174 t? (114Icf r'UfT '4 TR

    c;oicfri -k# fwqr t?

    6. (a) ZM-3 TfliTt 4,siq r14-if i Oci


    t : 9, 6
    TEITTt TR;1711 4l 31--qfq 2 4 11114

    711*i 7
    300 chi*if Slyd 14174
    50 mrcf -TR
    150 Yrcf HR-I
    qrrIfT 1,800 *chiV.11.

    ECO-10 7 P.T.O.
    r► ici (-di* 25% t I 3-1TkT (order)
    200 T. t I TITI:It
    T*-11 ►► 4 ► c1 32T. t :
    (i) 1I-9-tltqf ► 141 (Reorder level)
    (ii) k-d► ch Trim, cl2.TT
    (iii) TitiTr 11 1
    --F-
    4R1
    (b) d'AR0e44). aTT-1749. (apportionment)
    ft -d "4. o ►► tse-i►

    ECO-10 8

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