TRINITY INSTITUTE OF PROFESSIONAL STUDIES, NEW DELHI

Assignment 2 for Cost Accounting

Programme: BBA Semester: II Paper Code: BBA 102 Academic Session: 2023-24

Max. Marks: 20

Course Objectives:
1. To familiarize the students with the basic cost concepts, allocation. (Knowledge
and Comprehension Based Learning).
2. To make students understand the allocation of costs. (Analytical Based
Learning).
3. To make students aware about control of various costs and methods of costing
(Application Based Learning).
4. To provide to students about the identification of major costs to acknowledge
current business world scenario. (Synthesis and Evaluation Based Learning).
.
Course Outcomes:
CO1: Comprehensive understanding on objectives and scope of cost accounting in
business
CO2: Explore cost control through various material controlling techniques
CO3: Explore Contract costing with different clauses.
CO4: Examine overhead cost through overhead functional analysis.
CO5: Examine Cost sheet and its purpose.
CO6: Prepare Process accounts and finished stock account.

Q. Questions Relevant course

No. Outcomes
1. What do you understand by ‘cost plus contracts’ and ‘escalation clause’ CO3
in contract costing?

2. What is the cost sheet? Explain the purposes served by it. CO5

3. A product is completed in three consecutive processes. During a

particular month, the input to Process I of the basic raw material was CO6
5,000 units at Rs. 2 per unit. Other information for the month was as
follows:
Processes
I II III
Output (units) 4,700 4,300 4,050
Normal loss as % of inputs 5 10 5
Scrap value per unit (Rs.) 1 5 6
Direct wages (Rs.) 3,000 5,000 8,000
Direct expenses (Rs.) 9,750 9,910 15,560
Overheads total Rs. 32,000 chargeable as percentage of direct wages.
 There was no opening or closing work-in-progress stock. Compile the
three process accounts and finished stock account with details of
abnormal loss and gain, wherever applicable.

Last Date for Submission: April 13, 2024

Bhawana Bansal
Assistant Professor

Guidelines for submission

 The assignment should be legibly handwritten.

 Tables and figures should be named properly.
 All the pages of the assignment should be stapled.
 The following information should appear on the cover page of the assignment:
 Assignment No
 Submitted to
 Submitted by (Name & Enroll No)
 Date of submission