IGNOU| ELEMENTS OF COSTING (ECO - 10)| QUESTION PAPER – (DEC - 2022)| (BDP)| ENGLISH MEDIUM
BACHELOR'S DEGREE PROGRAMME
Term-End Examination
December - 2022
ELECTIVE COURSE: COMMERCE
ECO-10
ELEMENTS OF COSTING
Time: 2 hours
Maximum Marks: 50
Note: Attempt any two questions from Section A and
any two questions from Section B.
हिंदी माध्यम: यहां क्लिक करें
SECTION - A
1. Distinguish between cost accounting and financial accounting. 10
2. Discuss classification of costs on the basis of
variability with one example of each. 10
3. Write short notes on any two of the following: 5+5
(a) Cost centre
(b) Purchase
order
(c) Overtime
(d)
Over-absorption of factory overheads
SECTION - B
4. From the following particulars of a manufacturing
firm, prepare the cost sheet showing (i) Prime cost, (ii) Works cost, (iii)
Cost of production, (iv) Cost of sales, (v) Profit. 15
|
Particulars |
Amount (Rs.) |
|
Stock of
material on 1-1-2021 Stock of
finished goods on 1-1-2021 (5,000 units) Purchase of
material Finished
goods sold (1,74,000 units) Wages Works
overheads Office
expenses Selling and
Distribution expenses Stock of
material on 31-12-2021 Stock of
finished goods on 31-12-2021 (6,000 units) |
40,000 50,000 11,00,000 24,36,000 5,00,000 1,50,000 1,00,000 1,74,000 1,40,000 60,000 |
5. 'A Manufacturing Company Ltd.' manufactures and
sells 3 chemicals produced by consecutive processes known as X, Y and Z. In
each process 2% of total weight of material put in is lost and 10% is scrap,
which from process X and Y realised 100 per tonne and from process Z 200 per
tonne. 15
The products of X, Y and Z are dealt with as follows:
|
Particulars |
X |
Y |
Z |
|
Send to
warehouse for sale Passed on to
the next process |
25% 75% |
50% 50% |
100% - |
The following particulars relate to the month of April 2021:
|
Particulars |
X |
Y |
Z |
|
Materials
used (Tonnes) Cost per
tonne of material (Rs.) Manufacturing
expenses (Rs.) |
100 120 30,800 |
140 200 25,760 |
1,348 80 1,810 |
Prepare an account for each process showing the cost per
tonne of each product.
6. Compute the machine hour rate from the following data:
15
|
Particulars |
Amount (Rs.) |
|
Cost of machine Installation charges Scrap value after 15 years Rent of the shop (P.M.) General lighting for shop (P.M.) Insurance of the machine (P.A.) Repairs (P.A.) Power 10 units per hour Rate of power per 100 units Shop supervisor salary (P.M.) |
1,00,000 10,000 5,000 200 300 960 1,000 20 600 |
Estimated
working hours per annum are 1000 hours.
The machine
occupied one-fourth of total area of the shop.
Supervisor
devotes 1/3 of his time for this machine.
***
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