Unit-IV 8. Differentiate between job and contract costing. Describe the process of contract costing. 9, What do you understand by normal and abnormal waste of materials ? Derive the process of manufacturing ? How should they be treated in cost accounts ? 57021-1200-(P-4ya-sjire) (4) re 57021 B.B.A. (Re-appear) 3rd Sem. (Old) 2011-14 Examination- November, 2016 Cost Accounting Paper-BBA-301 Time : 3 hours "Max. Marks : 80 ‘Before answering the questions, candidates should ensure that they have been supplied the correct and complete question paper. No complaint in this regard will be entertained after the examination. Note : Attempt compulsory question No. 1 from Section-A and four questions from Section-B. {one from each unit). All questions carry equal marks. Sections-A 1. Briefly explain the following: s702t-120047-4(0-9}016) (1) [Tum Over(a) Prime cost (b) Fixed and variable costs (¢)_ Inventory carrying costs (d) Re-order level (fe) Time booking (0 Idle time lg) Activity based costing (h) Equivalent production. Section-B Unit-I 2. Explain the meaning and objectives of costing. Differentiate between _cost accounting and financial accounting. 87021-1200-(P-4O-9)(18) (2) 3. What is a cost sheet ? How is it prepared ? Show with the help of an example. Unit 4, Discuss the objectives and techniques of materials control. 5. Discuss various methods of inventory valuation clearly: highlighting their advantages and disadvantages. Unit- 6. Which factors are considered in merits rating? What are its advantages and disadvantages ? 7. Discuss the types of overheads. Which factors are considered in determining the overhead absorption rate ? s7o2t-12004F-4Ka-9}(18) (3) [Tum Over