10/30/21, 12:01 PM 30/10/2021 B.B.A.LL.B (HONS.

) - SEMESTER II - COST AND MANAGEMENT ACCOUNT

30/10/2021 B.B.A.LL.B (HONS.) -

SEMESTER II - COST AND
MANAGEMENT ACCOUNT
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I. Answer the Following Multiple Choice Questions:

(50 MARKS)

1. When Cost of Sales is Rs.1250000 , Profit to be 25% on Sales find Sales

Rs.1562500

Rs.5000000

Rs.1666667

Rs.1000000

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2. When Opening stock of Raw materials be Rs.1800000 , Carriage Inward be

Rs.18000, Custom duty be Rs.180000 for Raw materials purchased worth
Rs.7800000,Raw materials destroyed by fire without insurance Rs.90000 find
Raw materials consumed?

Rs.9798000

Rs.9789000

Rs.9780000

Rs.9708000

3. If Prime cost be Rs.4000000, Factory Overheads be Rs.890000, Value of

Scrap be Rs.12000, Opening stock Work in Process be Rs.850000 and Closing
stock of work in process be Rs.760000 find Total Works Cost

Rs.4968000

Rs.4980000

Rs.6512000

Rs.4992000

4. ___________ are the costs which can be identified with and allocated to
specific cost centres

Standard Cost

Direct Cost

Marginal Cost

Indirect Cost

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5. _____ is the Cost classified on the basis of time a) Predetermined b) Marginal

c) Standard d) Replacement .

‘b) and c)

‘a) , b) and c)

‘a) and c)

‘a),and b)

6. Legal fees paid to acquire a Machine is the cost classified on the basis as

Fixed cost, Direct cost, Factory cost

Fixed cost , Indirect cost, Administration cost

Fixed cost, Indirect cost, Factory cost

Fixed cost, Direct cost, Administration cost

7. Royalties paid on the sales of 3rd Edition of book to the writer of the book is
______

Fixed cost, Indirect cost, Factory cost

Fixed cost , Indirect cost, Administration cost

Variable cost, Indirect cost, Factory cost

Variable cost, Indirect cost, Selling and Distribution cost

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8. Photo copied Hand bills distributed to mention the address change of shop is
__________

Fixed cost, Indirect cost, Selling and Distribution cost

Variable cost, Direct cost, Selling and distribution cost

Fixed cost, Indirect cost, Administration cost

Variable cost, Indirect cost, Selling and distribution cost

9. Mother board fixed in Laptop is _________

Variables cost, Indirect cost , Factory cost

Fixed cost, Direct cost, Administration cost

Fixed cost ,Direct cost, Factory cost

Variable cost, Direct cost, Factory cost

10. When Cash inflow is Rs.500000 from the machine which get discarded in a
year, expected rate of returns be 8% and NPV be Rs.47963 what is the cost of
Machine?

Rs.400000

Rs.452037

Rs.415000

Rs.500000

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11. When a Share is Costing Rs.825 today , 500 shares bought , required rate of
return be 10% find NPV if all the Shares sold exactly after 1 year for Rs.457500.

Rs.4405

Rs.3222

Rs.45000

Rs.3409

12. The Master budget of a unit is often referred to as the ______ of the unit

Summary budget

Operating budget

Program budget

Responsibility budget

13. ___________ is the setting of predetermined cost estimates in order to provide

a basis for comparison with actual cost.

PVR

Break even point

Variance

Standard costing

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14. If Sales unit for the month of February 2015 be 640 and selling price be
Rs.1200 per unit find projected sales for February 2016 if Sales turnover
decreased by 15% due less demand and Price increased by Rs.10

Rs.768000

Rs.652800

Rs.658240

Rs.554880

15. If a Company with 50% of its production Capacity produces 68000 units. The
Variable cost be Rs.150 per unit , Fixed cost be Rs.1290000 , if Company wish to
operate 100% capacity then what will be the per unit cost of sales

Rs.159.5

Rs.149.5

Rs.169

Rs.155

16. The Production cost of an item was Rs.12000 , Administration costs are
charged at 30% of production cost. Selling expenses be Rs.150 per unit find its
selling price if company charges 25% profit on Sales find profit per unit.

Rs.5200

Rs.5250

Rs.4050

Rs.3938

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17. __________ Variance is of great importance in the industry when the output of
one process becomes the input of another process

Mixed

Material

Labour

Yield

18. Material mix variance is that portion of __________ when various types of
materials are used in a production process then material mix variance is created.

Material mix variance

Material yield variance

Material usage variance

Material cost variance

19. Labour yield variance is analysed into two separate variances i.e ___________
and labour efficiency variance.

Labour rate variance

Labour idle time variance

Labour time variance

Labour mix variance

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20. When 10000 units sold @ Rs.2000 per unit the variable cost be Rs.16000000
,Fixed cost be Rs.1200000 find PVR

0.25

0.19

0.31

0.75

21. When Sales projected is Rs.7200000 with selling price Rs.25 per units and
variable cost Rs.15 per.unit , Fixed cost be Rs.1800000 find Margin of Safety.

Rs.4500000

Rs.5400000

Rs. 9000000

Rs.2700000

22. If PVR of a company be 0.25 with Fixed cost of Rs.120000 , what will be the
Sales of company when it suffers loss of Rs.25000

Rs.280000

Rs.380000

Rs.480000

Rs.580000

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23. If a company has earned contribution of Rs.200000 and net profit Rs.150000
on sales of Rs.800000 .what is its margin of safety

Rs.400000

Rs.600000

Rs.450000

Rs.650000

24. Sales for year 1 be Rs.500000 and year 2 be Rs.750000 the profit on sales for
year 1 be Rs.50000 and year 2 be Rs.100000 find its BEP

Rs.250000

Rs.350000

Rs.50000

Rs.150000

25. When company sold 100000 units @ Rs.20 per unit, its Direct material cost
be Rs.8 per unit,Direct labour cost be Rs.4 per unit and Fixed cost be Rs.400000
find out companies Margin of Safety

Rs.800000

Rs.1200000

Rs.1000000

Rs.400000

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