₹198.00
Scroll down for Match your questions with Sample
Note- Students need to make Changes before uploading for Avoid similarity issue in turnitin.
Another Option
UNIQUE ASSIGNMENT
0-20% Similarity in turnitin
Price is 700 per assignment
Unique assignment buy via WhatsApp 8755555879
Description
| SESSION | MARCH 2025 |
| PROGRAM | BACHELOR OF COMMERCE (B.COM) |
| SEMESTER | III |
| COURSE CODE & NAME | DCM2103 COST ACCOUNTING |
Set – 1
Q1. a). Write down five differences between Financial Accounting and Cost Accounting.
b). Briefly explain the following:
- Job Costing
- Contract Costing
III. Operating Costing
- Process Costing
- Unit or Single Output Costing
Ans 1.
Q1 (a). Five Differences Between Financial Accounting and Cost Accounting
| Basis of Difference | Financial Accounting | Cost Accounting |
| Objective | To record and report overall financial performance to external parties | To determine, control, and analyze costs for internal decision-making |
Its Half solved only
Buy Complete from our online store
https://smuassignment.in/online-store/
MUJ Fully solved assignment available for session Jan-Feb 2025.
Lowest price guarantee with quality.
Charges INR 198 only per assignment. For more information you can get via mail or Whats app also
Mail id is aapkieducation@gmail.com
Our website www.smuassignment.in
After mail, we will reply you instant or maximum
1 hour.
Otherwise you can also contact on our
whatsapp no 8791490301.
Q2. Prepare the store ledger using the information below by following the first-in-first-out (FIFO) method. Show the issue price of each material.
| Date | Receipts | Issues | ||
| Quantity (Kg.) | Rate (Rs.) | Date | Quantity (Kg.) | |
| 3.2.2025 | 1,000 | 1.00 | 4.2.2025 | 500 |
| 5.2.2025 | 4,000 | 1.40 | 7.2.2025 | 3,000 |
| 10.2.2025 | 3,000 | 1.50 | 15.2.2025 | 2,000 |
| 20.2.2025 | 2,000 | 1.80 | 25.2.2025 | 3,000 |
Ans 2.
FIFO Method in Cost Accounting
The First-In-First-Out (FIFO) method is a widely used inventory valuation technique in cost accounting. Under this method, it is assumed that the oldest inventory items are issued or sold first, and the remaining inventory consists of the most recently purchased goods. This approach
Q3. Find the wages of workers under the Halsey Plan and the Rowen Plan with the information given below:
Standard output in 10 hours: 120 units
Actual output in 10 hours: 132 units
Wage Rate: Rs. 15 per hour
Ans 3.
Incentive plans like the Halsey and Rowen systems are used to reward workers for completing tasks in less time than the standard time. These plans offer a base wage plus a bonus for time saved, encouraging higher productivity.
1. Halsey
Set – 2
Q4. Define the term ‘Overhead’. Give the classification of overhead and explain fixed, variable, and semi-variable overhead in detail.
Ans 4.
Definition of Overhead
In cost accounting, overhead refers to the indirect costs incurred during the production of goods or services that cannot be directly traced to a specific product, job, or department. These costs are necessary for overall business operations but are not directly involved in the production process.
Examples include rent, salaries of administrative staff, electricity, depreciation, and maintenance expenses. Overheads are
Q5. Abhay Bros. accepted a contract for the construction of a building for Rs. 10,00,000.
The Contractee agreed to pay 90% of the work certified; as certified by the architect. During the first year, the amount spent was as follows:
Particulars Rs. Particulars Rs.
Material 1,20,000 Plant at site 20,000
Labour 1,50,000 Material at site 5,000
Plant issued 30,000 Work certified 4,00,000
Other expenses 90,000 Work uncertified 15,000
Prepare contract account in the books of Abhay Bros.
Also, show the amount of profit that can be transferred reasonably to the P&L A/c.
Ans 5.
Theory: Contract Costing
Contract costing is used when a large job (like building construction) takes significant time and cost. The profit is not recognized all at once but is transferred partially to the Profit & Loss Account depending
Q6. A chemical product passes through three distinct processes to completion. During the month ended August 2019. 500 units were produced. The cost accounts show the following information:
| Process | A | B | C |
| Material (600 units) | 3,000 | 1,500 | 1,000 |
| Labour ( Rs) | 2,500 | 2,000 | 2,500 |
| Direct Expenses ( In Rs) | 50 | 100 | 900 |
| Cost of Packing (in Rs) | – | 2,060 | – |
| Output (units) | 550 | 530 | 500 |
The indirect expenses for the period were Rs 1,400. The by-product of process B was sold for Rs. 185, and the residue of process C was sold for Rs. 75.
Prepare the process account showing total cost and cost per bottle of finished stock.
Ans 6.
Process costing is used when a product passes through multiple stages (processes) and is mass-produced. Costs are accumulated for each process, and the cost per unit is calculated by dividing total cost by output units. Any by-product or scrap/residue sale is deducted from total cost.
Given
| Particulars | Process A | Process B | Process C |
| Material (600 units) | ₹3,000 | ₹1,500 | ₹1,000 |