Cost Accounting

THE BEACON ACADEMY
Cost accounting / Test / 06-10-2022 / 45 Marks
Q1) The following information is supplied form the costing records of a company. [08]
Particulars (`) Particulars (`)
Rent 2,000 Insurance (Stock) 1,000
Maintenance 1,200 Employer’s contribution to P.F 300
Depreciation 900 Energy 1,800
Lighting 200 Supervision 3,000
Particulars Departments
A B C D
Floor space (sq. mtr.) .... .... .... .... .... 150 110 90 50
Number of workers .... .... .... .... .... 24 16 12 8
Total direct wages (`) .... .... .... .... .... 8,000 6,000 4,000 2,000
Cost of machinery (`) .... .... .... .... .... 24,000 18,000 12,000 6,000
Stock of goods (`) .... .... .... .... .... 15,000 9,000 6,000 -
Prepare a statement showing apportionment of costs to various departments.
Q2) From the following data prepare a statement showing the cost per day of 8 hours of
engaging a particulars types of labour: [07]
a) Monthly basic salary - ` 200 per month
b) Dearness allowance – Rs. 100 per month
c) Leave salary payable to the workman - 5% of salary
d) Employer’s contribution to P.F. - 8% of salary + D.A.
e) Employer’s contribution to State Insurance - 2 ½% of salary
f) Expenditure on amenities - ` 17.95 per head per month
g) No. of working hours in a month – 200
Q3) From the following particulars you are required to work out the earnings of a worker for a
week under (a) Straight piece-rate (b) Differential piece-rate (c) Halsey premium scheme (50%
sharing), and (b) Rowan. premium scheme. [07]
Hourly wage rate ` 7.50
Piece rate per unit ` 3.00
Normal time taken per piece 20 minutes
Normal output per week 120 pieces
Actual output for the week 150 pieces
Differential piece-rate 80% of piece-rate when output below normal and 120% of
piece rate when output above normal.
The worker is assured of time wages for work was done in 40 hours.
Q4) Stock of material on 01-3-2013 was 1,000 units at ` 10 per unit. The following purchases and
issues were made during the month of March, 2013.
Purchases:
a) 02-03-2013 2000 units at ` 11 per unit
b) 03-03-2013 3000 units at ` 12 per unit
c) 08-03-2013 4000 units at ` 13 per unit
d) 11-03-2013 4000 units at ` 14 per unit
e) 21-03-2013 5000 units at ` 15 per unit
Issues:
a) 05-03-2013 5400 Units
b) 15-03-2013 2600 Units
c) 31-03-2013 5000 Units
You are required to prepare:
Stock Ledger A/c under FIFO method. 2) Stock Ledger A/c under Weighted Average Cost
Method. [15]
Q5) Prepare a Cost Sheet showing the total and per tonne cost of paper manufactured by Times
Paper Mills Ltd. For the month of March 2004. There were 26 working days in the month. Also
find the profit earned by the company. The details are as under:
Direct Raw Materials:
Paper Pulp - 6,000 tons @ `900 tonne
Direct Labour:
280 Skilled workmen - ` 250/- per day
300 Semiskilled workmen - ` 150/- per day
470 Unskilled workmen - `100/- per day
Direct expenses:
Special equipments hire charges - ` 12,000/- per day
Special dyes - ` 250/- per tonne of total raw material input
Work overheads: Variable - @ 50% of direct wages
Fixed - ` 2,70,000/- p.m.
Administration overheads - @ 12% of works cost
Selling and distribution Overheads - ` 80/- per tonne sold
Opening stock of paper - 500 tons valued @ ` 2,501.60/- per ton
Closing stock of paper - 300 tons valued at cost of production
The paper is sold @ ` 3,000/- per tone [08]
Q5) Dunkel Ltd. Started a factory in Navi Mumbai on 1st April 2014. Following details are
furnished about its activity during the year ended 31st March 2015:
Raw Material consumed – 40,000 units @ `7/- per unit.
Direct Wages: -Skilled worker ` 9/- per unit. (b) Unskilled worker ` 6 per unit.
Royalty (on raw material consumed) @ ` 3/- per unit.
Works overheads @ ` 8/- per machine hour. Machine Hours worked: 25,000.
Office Overheads at 1/3rd of Works cost.
Sales Commission @ ` 4/- per unit.
Units produced 40,000 Stock of Units at the end: 4,000 units to be valued at cost of production
per unit.
Sale price is ` 50/- per unit.
Prepare cost sheet showing the various elements of cost both in total and per unit. [07]

Cost Accounting

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THE BEACON ACADEMY

Cost accounting / Test / 06-10-2022 / 45 Marks

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