ECO-010 No. of Printed Pages : 7

BACHELOR'S DEGREE PROGRAMME

Term-End Examination

%-1 June, 2017

r-- LS) ELECTIVE COURSE : COMMERCE

C:) 00 ECO-010 : ELEMENTS OF COSTING

Time : 2 hours Maximum Marks : 50

(We ightage 70%)

Note : Attempt any two questions from Section - A and

any two questions from Section - B.

SECTION — A

1. Discuss the possible difficulties and the factors to 4, 6 be considered before installation of a system of costing in a manufacturing concern.

2. (a) Explain meaning of fixed, variable and 5, 5 semi-variable costs with examples.

(b) State the main advantages of the perpetual inventory system.

3. Write short notes on any two of the following : 5, 5 (a) Process costing

(b) Labour turn over

(c) Decentralised purchasing of materials

(d) Time wage system

ECO-010

1 P.T.O.

SECTION - B

4. From the following information, prepare a cost 15 sheet showing :

(a) Prime cost

(b) Cost of production

(c) Cost of sales and

(d) Profit

Z

Purchase of raw material 1,32,000

Direct wages 1,10,000

Carriage inwards 1,584

Works on cost 40,480

Stock on 1-1-2015 :

Raw materials 22,000

Finished Products (1, 600 tons) 17,600

Selling and distribution expenses 18,000

Stock on 30-06-2015 :

Raw materials 24,464

Finished products (3, 200 tons) -

Sale of finished products 3,30,000

25,600 Tons were produced during the period from 1-1-2015 to 30-6-2015.

ECO-010 2

5. From the following figures, prepare a 15 Reconciliation statement and find out the profit as per financial accounts.

Particulars Net profit as per the cost accounts 1,72,400 Works overheads under recovered in costing books 3,120 Administrative overheads over- recovered in cost accounts 1,700 Depreciation charged in financial a/c 11,200 Depreciation charged in cost accounts 12,500 Interest received but not included in cost accounts 8,000 Income tax recorded in financial accounts only 40,300 Bank interest credited in financial accounts only 750 Depreciation of stock charge in financial accounts only 6,750

6. (a) From the following information,

(i) Reordering level (ii) Minimum stock level and (iii) Maximum stock level Re-order quantity Time required for delivery Maximum consumption

Minimum consumption

Normal consumption

(b) How

calculate : 10, 5

30,000 units 2 - 4 weeks 8,000 units per month 3,000 units per month 5,000 units per month

would you ascertain the profit of an incomplete contract ? Explain with an example.

ECO-010

3 P.T.O.

1.-p1-.31-1.-010

i--fidal ,I.iirt.i chltisb1-1

i-lAid 1.-RI-1T

-9', 2017

..r----.W 41c5,t44.0-1 : c11161\rei

.7:ft.34. -010 : (11+11 c)(51 "k 1 cTfc

771:2 Frri -

3iNW -d7 3 : 50

(TO' --f 70%)

-1l : &us--w#. #7)•w -f 21-4- -27Totiss-ur #4- qh WI /

(gu8 -

1. to-) RIF-1444- TiT-P-TT 14 01 1 1c1 c --4 1T TETITT chi T2TTERT t 4, 6

Fl1k fwa- RiF41-- -r-T-4 -.'r tzrF -4(_q-fr e1i11 ? fq--d-q7 --1-F--A7, 2.11 i 9ft ,Act 14) -Tft -5171-01. ef-)1 Taircr -r 14

fw-i a-)18-liqf r -11 4-1-11T7if 45(11 t?

2. (a) f27, Ilfcd-d1 2.TE 3Tq-1:1-Frqt cii ii1 eh1 aqIlif 5, 5

Tir--0 cqRsil --rEA7 I

(b) r-itch glo-T0-17uTMI' (Perpetual inventory

system) t .1 9-ff 3- 7§1. --If77 I

3. F-14--iFoRAcr 14 A fit t IR 7,11-i7r re.--libigi Th-t17 : 5, 5

(a)7F-WzIT 01 1 11 figi-Tur trzt

(b) r aim-4 (Labour turn over)

(c) TIPTIt .T1 Fc41 =pci shy

(d) -I 4-Riit-iR 1:1771. T-1-4fff

ECO-010 4

taus -

4. 1 4 1 rrl tqcf "qq71311 31TVIT :

(a) to ritim

(b)

(c) f"-4-wq 2.1T

(d) .911T 741M 7 -crw rwicf f4471 -4•177

z

chi NM WI{ 1,32,000

1c TRO 1,10,000

31rrru 1,584

tRat dLificiq 40,480

1-1-2015 1:{ k-dich :

cfrucii 4-ito 22,000

NTT Hie (1,600 zr) 17,600

fqWz1 fdcIIT 'VT 18,000

30-06-2015 IR :

cb -u--c41 iiIri 24,464

ilitkl4T (3,200 Z7)

1-110 fdWzr 3,30,000

1-1-2015 ti 30-6-2015 ardfiT ti -1 25,600 Z7

141(4 ac4Ic i `chit TRIT I

15

ECO-010

5 P.T.O.

5. 1:11-irrir(gc, 3-fM( t 3-11g7 IR -i+-iitirff fq7711 1-717 15

W—A7, 72TT f--1-9-17 -di t 3T-1-Trr-{ -rii. --1 Trt 7ild

.--1-r---47 1

01 4 Id -di t 3T7R fi-d7 -ffriT 1,72,400

rilild 14 * 3400,--11). 'TT 3-T71

31-a-vfrEfor 3,120

c-ii+Ict -4 k1 ,-1 64 . ,De.v.i 3-ifr

tu7 TR 1,700

fq-th--zr -di -4 twit iN 4-riw-1 iPI 11,200

01 4 11 Z4 14 tUrt 1 141 4-1c-1Vq oh) Trt 12,500

-5177f vfT7 chl Trt clincr -df 4 -0 turt -

iiq 8,000

3171 chk t-d.. fq-tzt -4 -k4:§117 1177 40,300

tYw - 4 -51-rt?r :1-r7 Trt -- r ta-7 fa-t-zr

turzrr -FRP 750

.-e.:1.1, 4t-qvg

term TIM 6,750

ECO-010 6

6. (a) 1-1 1--Irrifigi 1:07T311 t 311%7 TIT :

10, 5

(i) Tiuk-vr 41 1 11

(ii) -9.-d14 *-e-1 + 4l Hi, 7 241

(iii) 3-Trw-d-Tr k-dict) 414-if iluvir 1fqi

771t7T I-11 ,11 30,000 *T" -Ttz1T

7471t Tf7f7 Tref obt4 2 - 4 tii-cil

oh 374fq

31-ftr-*-d-7 74(447-r 8,000 TT-rtzri

i;ifff TrFr

-d.14 7crli-1-1-r 3,000 T*Ttzft

MI6 -77

ti1 1-11-4{ 3111)7 5,000 7*--rtzti

-9-ru -rim

(b) .1-> aqui a tr-t 31m cii.-ct fa ct) - 13.T t-74 qito

.4) . ' ? dqltul Tir0 cq1t9e41 1-r77 I

ECO-010 7