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B.Com (VI Semester) Examination
COMMERCE
Paper : BCM–601 (Old Course)
( Cost Accounting )
Full Marks : 80
Pass Marks : 35%
Time : Three Hours
1. Answer any five questions from the following : 2×5=10
(a) Define cost.
(b) Explain the term ‘overhead’.
(c) What is cost of production?
(d) List out different elements of cost.
(e) What is idle time?
(f) Define prime cost.
(g) What is labour turnover?
Section—II
2. Answer any four questions from the following : 5×4=20
(a) Explain FIFO and LIFO methods with two transactions.
(b) What is work-in-progress? How is it treated in cost sheet?
(c) What is reorder quantity? How is it calculated?
(d) Distinguish between Cost Accounting and Financial Accounting.
(e) What is labour turnover? How is it calculated?
(f) Explain three features of Taylor’s differential wage payment system.
(g) Write the limitations of batch costing.
(h) What is job costing? Explain its features.
3. Answer any five questions from the following : 10×5=50
(a) What is cost accounting? Explain its scope and features.
(b) What is Economic Order Quantity? How is it calculated? Show its graphical presentation.
(c) Explain the features of ABC control of materials.
(d) Tato & Co. undertook a contract from Menia Bros. to construct 5 kilometers of concrete road on 1st January, 2018 for a contract price of R 40 lacs. The work is to be
completed within three years and payment of contract price will be released as per the work certified. Tato & Co. serves you the following details and asks you to prepare Contract Account for the year ended on 31st December, 2018 :
(e) What is process costing? List out the industries which adopt this method of costing.
(f) What is absorption of overheads? Explain the methods of absorption.
(g) What is Rowan premium plan? Explain the method to calculate the earnings of a worker under this plan.
(h) What is cost sheet? How is it drawn? Give the format of cost sheet with imaginary figures.
(i) Elaborate in detail the various types of overheads.
