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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II. Answer the Following Descriptive Questions:

(25 MARKS)

1. Cost of Production is Rs.900000 for 20000 units , Opening stock of Finished

goods be Rs.105000 for 2500 units , what will be the value of closing stock if
21900 units are sold and company apply first in first out policy for stock

Your answer

2.Mention functions and Advantages of Costing

Your answer

3.Define Standard costing and write note on Variance analysis

Your answer

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10/30/21, 12:01 PM 30/10/2021 B.B.A.LL.B (HONS.) - SEMESTER II - COST AND MANAGEMENT ACCOUNT

4. If Prime Cost in the Cost sheet of a product is Rs.255000 , Its Factory

Overheads are 150% of Prime cost, Office and Administration cost is 100% of
Works cost , Selling and distribution overheads are Rs.23000 , Stock of finished
goods is Increased by Rs.40000 in this year compare to previous year . Company
charge 20% Profit on Sales Find Sales of the Product with working

Your answer

5. With the available figures find BEP Rs. MOS Rs. For both the periods and Fixed
cost, Sales of year 2013 be Rs.150 lakhs and Cost of goods sold be Rs.120 lakhs ,
Sales in the year 2014 be Rs.200 lakhs and Cost of goods sold be Rs.150 lakhs.

Your answer

6. When Cash flow of year 1st to 3rd be Rs.150000 , Rs.180000 , and Rs.225000
respectively find out NPV .If Cost of the Asset be Rs.455000 , and required rate
of return be @9% (be PV value factor for 3 years be 0.9174,0.8416,and 0.7722 for
1st to 3rd Year

Your answer

7. When Closing cash balance of December be Rs.58000 ,Opening balance of

February be Rs.67850, Payments made to Creditors and for purchase in the
month of January be Rs.150000 , other expenses paid Rs.43000 in the month of
January find Receipts from Sales in the month of January if Rent received in
January from Tenants be Rs.12000. show working

Your answer

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10/30/21, 12:01 PM 30/10/2021 B.B.A.LL.B (HONS.) - SEMESTER II - COST AND MANAGEMENT ACCOUNT

8. If Product X and Y are Sold by a company In January company sold 500 units
of X and 600 units of Y , X @ Rs.55 each and Y @ Rs.125 each prepare sales
budget for the same.

Your answer

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