F-19(CAM) Revised Syllabus |
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Time Allowed : 3 Hours | Full Marks : 100 | ||
The figures in the margin on the right side indicate full marks | |||
Answer Question Nos. 1 and 5, which are compulsory and two each from the remaining questions of Sections I & II. SECTION I (50 marks) | |||
Marks | |||
1. | (a) | State whether the following statements are "True" or "False". No reason or explanation need be given:
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1x10=10 | ||||||||||||||||||||
(b) | Define the following terms as per the Cost Audit Report Rules, 2001:
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2x5=10 | |||||||||||||||||||||
2. | In the course of cost audit of a company, you come across the following discrepancies:
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How will you deal with the above discrepancies in the Cost Audit Report? |
Please turn over |
( 2 )
F-19(CAM) Revised syllabus |
Marks |
3. | A company manufacturing a single product has an installed capacity of 2.5 lakhs M.T. During the year 2003-04 capacity utilisation was 100% and cost details were as under:
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4. | The Closing inventory of steel materials shows the following items as on 31.3.2005:
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How would you determine the inventory value as per the "Cost or Net Realisable Value" basis? | |||||||||||||||||||||||
Section II (50 marks) |
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5. | (a) | Fill up the Blanks in the following statements:
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1x10=10 | ||||||||||||||||||||
(b) | What do the following abbreviations stand for?
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1x10=10 |
Please turn over |
( 3 )
F-19(CAM) Revised syllabus |
Marks |
6. | (a) | Pharma companies have, as principal promotion for their products, to manufacture for free distribution to the doctors "Free Medical Samples" (FMS). These sample packs of products are not saleable and so have no sales values. However as manufactured products they are subjects to Excise Duty. The Assessable values of these samples are based on the cost build-up method of A.V. determination as per Cost Accounting Standard 4 (CAS-4) which will be certified by a Cost Accountant in practice. The Cost Sheet proforma for such productions for captive consumption is given as Appendix I in the CAS. Give a specimen of the statement of Cost of Production as per CAS-4 |
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7. | Elegant Appliances Ltd. is manufacturing a range of domestic appliances and is planning to introduce a new washing machine for which a feasibility study has been carried out.
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8. | From the following data extracted from the Cost Accounting Records of a ministeel plant, prepare a report to the management analysis the reasons for the variance in profit from the Budget. (Ignore increase/decrease in opening and closing stocks):
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