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Cost and Management Accountancy Exam Paper 2075

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This exam paper is held on 2075 BBS 2nd year on the subject of cost and management accountancy.

Tribhuvan University

2075

BBS 4 Years Programme/ II Year/ MGMT | Full Marks: 100

Cost and Management Accountancy (MGT.212) | Time: 3 hrs.

Candidates are required to give their answers in their own words as far as practicable.

The figures in the margin indicate full marks.

Click here for download Cost and Management Accountancy Exam Paper 2075

Group A

Brief questions answers [10×2=20]

Attempt all questions

1. State any two objectives of government accounting.

2. Mention any two advantages of management accounting.

3. Briefly explain the classification of cost on the basis of behaviour.

4. Write in short, the unavoidable causes of labour turnover.

5. What are the motives of holding inventories?

  • Yearly requirements 25,000 units.
  • Purchase price per unit Rs.10
  • Ordering cost Rs. 20 per order
  • Inventory carrying cost is 10% of purchase price.

Required: Total cost at economic order quantity

7. A company’s cost structure of two different level of out are given as:

Total cost (Rs)                2,00,000            3,00,000

Output (units)                   50,000               60,000

cost into variable and fixed components.

8. Following particulars of a worker are provided:

  • Standard time ————– 20 hours
  • Actual time taken ————-15 hours
  • Hourly wage rate ———- Rs. 30

Required: Total earning of worker under Halsey Premium Plan.

9. Following information are provided to you

  • Consumption per day = 400-600 units
  • Delivery Period = 3-5 days
  • Re-order level = 4500 units

Required: Minimum stock level.

10. The following information are provided:

  • Cost Raw material – Rs.18000
  • Direct labour cost for 900 hours – @Rs. 10 per hour
  • Overhead for 4000 hours – Rs.20,000

Required: Job cost sheet.

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Group B

Short questions answer [5×10=50]

Attempt five questions

11. Pokhara factory has three production departments and one service department. Other details are as follows:

Particulars Production Departments Service Department
A B C S
Direct material (Rs) 20000 30000 20,000 5,000
Direct wages (Rs) 25000 20000 15,000 5,000
Labour hours 3000 2000 2,000
Area in sq. feet 400 300 200 100
Light points 5 3 2 2
Hose Power 6 3 2 1
Fixed Asset value (in Lakh) Rs 10 5 3 2
Service rendered by service department 50% 30% 20%

Overhead for the period are as follows:

Rent Rs.10,000
Electric light Rs.12,000
Power Rs.15,000
Depreciation Rs.20,000
General overhead Rs.13,000

Required: (i) Total overhead of each department

(ii) Labour hour rate of production departments [8+2]

12. A company provided the following particulars:

  • Selling price per unit = Rs.40
  • Variable cost per unit = Rs.24
  • Fixed cost for the year = Rs. 240,000
  • Corporate tax rate is 25%

Required:

i. Profit Volume Ratio (PVR)

ii. BEP in Rs.

iii. BEP in Rs if variable cost per unit decrease to Rs. 20

iv. Required sales amount to earn after tax profit of Rs. 40,000.

v. If the company desires to sell 10,000 units what would be the selling price per unit to earn a profit of Rs. 20,000. [2×5]

13. Following details of a manufacturing company are given:

  • Normal capacity units —
10,000
  • Production units —
12,000
  • Sales units —
14,000
  • Closing stock units —
2,000
  • Selling price per unit —
Rs.60
  • Direct material —
Rs.20 per unit
  • Direct labour —
Rs.10 per unit
  • Variable manufacturing OHS —
Rs.5 per unit
  • Fixed manufacturing OHS —
Rs.100,000
  • Variable selling & office OHS —
Rs. 3 per unit
  • Fixed selling & office OHS —
Rs. 150,000

Required:

i. Income Statement under Absorption costing

ii. Reconciliation statement [7+3]

14. (a) A manufacturing business house provided following details:

Months                       Baisakh              Jestha                Ashad                  Shrawn

Sales Amount (Rs)      500,000            600,000              400,000                 500,000

Selling price per unit is Rs.100. The company has a policy to keep ending inventory of finished goods is 50% of next month sales need. The beginning inventory of finished goods for Baisakh is 2500 units. Each unit of finished goods will require three units of raw material.

Required: i. Production budget for three months ending Ashad.

ii. Raw material consumption budget for three months ending Ashad. [4+1]

b. Enumerate briefly the perpetual inventory system for inventory control. [15]

15. (a) A Transport company provide the following particulars

  • Cost of vehicle — Rs.40,00,000
  • Estimated life — 10 years
  • Estimated scrap value at a the end of 10 years life is Rs. 500,000.
  • The vehicle covers 20,000 km in a year.

Other annual expenses are:

  • Garage rent — Rs.15,000
  • Road License — Rs.20,000
  • Insurance charges — Rs.25,000
  • Driver’s salary — Rs. 60,000
  • Other expenses — Rs. 20,000
  • Fuel consumption — 10 km per liter
  • Cost of fuel per liter — Rs.90

Required: Operating cost sheet showing standing and running charges. [5]

b. Write briefly the system of wage payment under Taylor’s differential piece rat and Grant Task and bonus scheme. [5]

16. Define standard costing and differentiate it from budgetary control. [10]

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Group C

Long questions answer [2×15=30]

Attempt any two questions.

17. A company provided the following particulars for the period ended:

Items Cost Drivers Products OVerhead (Rs)
P Q R
Production units 5000 4000 3000
Material purchases cost Order executed 7 8 3 36,000
Set-up cost Production runs 10 9 6 50,000
Maintenance cost Machine Hours 7000 4000 2000 26000
Material Handling cost Quantity of material 4000 3000 2000 18000
Direct material cost per unit (Rs) 4 5 6
Direct labour cost per unit 6 5 4

Required: Total and cost per unit -under:

i. Traditional costing system based on machine hours

ii. Activity based costing (ABC) [6+9]

18. A product passes through three processes X, Y and Z. The output of process X becomes input for process y and the output of process y becomes input for process Z. The entire output of process Z were transferd to ware house as finished product. The other details of processes during the period are given as under

Process X Process Y Process Z
Raw material input 2000 units Rs.50,000
Other material (rs) 20,000 30,000 34,000
Direct labour (Rs) 34,000 42,000 50,000
Production overhead (Rs) 15,000 20,000 25,000
Normal wastage 10% 5% 10%
Wastage realized per unit (Rs) 10 20 15
Actual output units 1820 1700 1600

Required:

a. Process accounts

b. Abnormal loss account

c. Abnormal gain account [11+2+2]

19. a. Define cost reduction and explain the areas of cost reduction.

b. Describe the methods of apportioning joint cost of the product with suitable examples. [9+6]

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