CBSE Elements Of Cost Accounting And Auditing Theory Question Paper Class 12th (2010)

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Series OSS                                                                                                                                   Code No. 202

                                                    ELEMENTS OF COST ACCOUNTING AND.AUDITING 

Time allowed : 3 hours                                                                                                     Maximum Marks : 60

                                                            Elements of Cost Accounting

1. What is meant by abnormal idle time ?


2. What do you understand by ‘Allocation of overheads’ ?


3. State four components of Cost Sheet.    2


4. State  giving reasons whether the following statements are true or  false :     2
(i)     Prime cost is more thy the fairy cost.
(ii)    Factory cost is less than the cost of production.


5. State any two purposes of Cost Sheet.


6. Factory cost of an article is .Rs.  2,700. Factory overheads are 40% of factory cost. Calculate the prime cost and factory overheads.


7.Explain briefly time booking and state any two advantages of time keeping.   4


8. What is  meant by ‘time wage’ and ‘piece-meal’ systems of wage payment ? State any two points of difference between the two systems of wage payment.    4


9. Prepare Cost Sheet from the following items    4
(i)      Raw material purchased Rs. 25,000
(ii)     Wages paid Rs. 10,000
(iii)    Fuel expenses Rs. 3,000
(iv)    Packing charges Rs. 1,000
(v)     Salaries of office staff Rs. 4,000
(vi)    Commission on Sales Rs. 2,000
(vii)   Printing and stationery Rs. 1,500
(viii)  Opening and closing stock of raw material Rs. 5,000 and Rs. 2,000


10. Distribute the following costs incurred in a factory among three production departments A, B and C :
(i)    Rent Rs. 6,000
(ii)   Lighting Rs. 2,800
(iii)  Supervision Rs. 2,000
(iv)  Depreciation Rs. 4,000

Additional information

Area (sq.ft.)
Number of light points
Number of workers
Value of machines

What is meant by ‘absorption of overheads’ ? Explain briefly any two methods of absorption of factory overheads.




11.  State any four duties of a company auditor.    2


12.  Give any three features you would like to include in your Audit Report after auditing the accounts of Delhi Sports Club.    3


13.  State the qualifications of an auditor as provided in the Companies Act, 1956.    3


14.  State any three contents of Audit Report.    3


15.  Define vouching. Explain briefly the relevance of evidence in vouching transactions.    3


16.  What is an Audit Report ? State any two purposes of audit report.     4


17.  What steps would you take in vouching the following items ? (Answer for any two items)    6
(i)      Interest paid
(ii)     Sale of furniture
(iii)    Credit purchase
(iv)    Telephone expenses
(v)     Loan paid


18.  Name the documents you would require as an auditor of a company for verification of the following items (give: answer for any three items)
(I)      Raw material
(ii)     Goodwill
(iii)    Capital
(iv)    Cash balance
(v)     Creditors
(vi)    Rent outstanding

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