IGNOU BCOC-138 June 2022 Previous Year Question Paper

Q1.Why is costing necessary in the modern system of economy ? Explain various advantages of cost accounting.

Q2.What are the main characteristics of the cost ?

Q3.Describe different types of classifications of the cost.

Q4.Explain different steps involved in purchases in a manufacturing organization.

Q5.(a) Explain the concept of reordering level. Find out the reorder level from the following data : 248 Maximum Stock = 6000 units Minimum Stock = 1000 units Time required for receiving the material = 15 days Daily consumption of material = 100 units

(b) Calculate the minimum stock level from the following data : 10 Net normal consumption = 500 units per week Normal reorder period = 5 weeks Reorder level = 4000 units

Q6.From the following invoice received from a supplier, calculate the material cost per unit : Quantity Particulars Rate (#) Amount (*) 300kg Material X 10-00 per kg 3,000 200kg Material Y 12-00 per kg 2,400 Less : trade discount 270 Add: Cost of containers (capacity of each 60 100 kg) Cartage and Carriage 75 Octroi duty @ 05% 27 Terms :

(a) 5% cash discount within a week

(b) Return value of containers = 9 each

Q7.“Time keeping is the basis of preparing labour cost.” Elaborate and discuss the methods of time keeping.

Q8.Prepare

(a) statement of equivalent production,

(b) statement of cost, and

(c) statement of evaluation from the following data : 20 Opening work in progress (50% complete) 5000 units 11,240 Direct Material 30,000 Direct Labour 22,500 Overhead 22,500 Units introduced in process 38,000 Units finished and transfer to store 39,000 Closing work in progress (25% complete) 4,0

(00)

Q9.Write short notes on the following : 4x5=20

(a) Perpetual Inventory System

(b) Idle Time

(c) Concept of Overheads

(d) Integral Accounting BCOC-138 4 ah Ft a 0-5% 27 wd: