IGNOU BCOC-138 December 2024 Previous Year Question Paper

Q1.(a) How do Cost Accounting records help in the planning and control of business operations of an enterprise ? 10

(b) Explain the role and responsibilities of a Cost Accountant in a Manufacturing/ Service organisation.

Q2.(a) Define the term ‘Material Control’. Discuss the important requirements of an efficient system of material control. 10

(b) Explain the ABC technique of inventory control with suitable examples.

Q3.Discuss the LIFO and FIFO methods of pricing of material with suitable examples.

Q4.What do you understand by Labour Turnover ?

Q5.What are its main causes ? Describe various measures to minimize the labour turnover. (4+10+6)

Q6.(a) Discuss various principles of apportionment of overheads. Give a few examples of the bases used for apportionment and re-apportionment. 10

(b) From the following information, calculate the cost per kilometre of a vehicle : 10 Value of vehicle = 30,000 Licence fee per annum = 1,000 Insurance charges p.a. ₹ 200 Garage charges p.a. = 1,200 Driver’s salary p.a. = 400 Cost of petrol per litre 2 Km run per litre 716 Tyre and maintenance per km = 0.40 Estimated life period 3,00,000 km Estimated annual km 12,000 km Ignore interest on capital.

Q7.A Radio manufacturing company which commenced business on lst January, 2023, supplies you with the following information and asks you to prepare a statement showing the profit per Radio set sold. Wages and materials are to be charged at actual cost, works overhead at 75% on wages and office overhead at 30% on works cost. You are also required to prepare a statement reconciling the profit as shown by Cost Accounts with the profit as shown by Profit & Loss Account for the year ending 31st December, 2023. There were no Radio sets in stock, or in course of manufacture on 31st December, 2023 and the number of Radio sets sold during the year was

Q8.540. The particulars are given as under : z Materials per set 240 Wages per set 80 Selling price per set 600 Prepare the necessary statements, showing the actual profit for the year, if the works expenses were % 32,160 and office expenses 61,800.

Q9.Product A yields by-product B. The joint expenses of manufacture are — Materials = 20,000; Labour % 10,000; Overheads are half of labour charges. Subsequent expenses are as follows : A B z z me |e 15,000 10,000 Overheads 4,000 3,000 Selling price _ 30,000 Estimated profit on sale _— 25% Prepare Process Accounts and show the apportionment of joint expenses.

Q10.Urvashi Enterprises undertook a contract for construction of a building. The contract price was % 5,00,000 and the contract was commenced on 1st January, 2023. The following expenses were incurred during the year : Materials purchased 80,000 Materials issued from stores 1,10,000 Materials received from other contracts 25,000 Wages paid 90,000 Indirect expenses 25,000 Plant and Machinery 1,00,000 Materials returned to stores 5,000 Materials returned to other contracts 7,000 Materials lost by fire 3,500 Plant and Machinery stolen 10,000 Materials on site (31-12-2023) 4,000 Plant on site (31-12-2023) 8,000 Outstanding wages (31-12-2023) 5,000 Other outstanding charges (31-12-2023) 2,500 The contract was completed on 31st December, 2023 and the contract price was duly received. Prepare Contract Account and Contractee’s Account. 20 [71 BCOC-138 A B z) z) छ-1786/820८-138 2.1. 0. छ-1786/820८-1

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