HILL HUE RAN-0259 S.Y.B.Com (Semester - [V) Examination March / April - 2019 Advance accounsing and auditing Paper - II 4a: / Instructions ak a (9) : Ala caida Rardlawll Gadi read ua aac auidl. Fill up strictly the details of « signs on your answer book Name of the Examination: « [S.Y.B.Com (Semester - IV) [5.¥ Cote (Semone riz IV) Saamea ss eeeaeenneemeene ‘Seat No.: follel[s|[Sl[s][z ‘Name of the Subject = [Advance accounting and auditing Paper - Ill subject Code No: [0] 2|s |e ‘Student's Signature (2) orwell ousyet is Wael YRt WO Ealla 9. (3) wa d- 4 Rou 8. (7) og rare sraustett ot Beall B.THE sry FXYSY.TY, B.COM. 8 98251 64074, 0261-27 AuRoRa 4 iat Hover ovatet BUM. 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(09) fad A B WALL Mtg (BISHEls) BR (?) wbuR cid (aisaZls) (2?) zo vituR ort (Bell 2H) 2,200 | %,¥0o | waaratd vel Rade -200 (2) waited aa Badd (2) -%,800 HiAabled RIL BAe -#20 | 2,400 AuRoRa 98. - RAN-0259 | 4] [ Contd.(ot) flett i. ofl Mell mulch weell Hepat aaict rate allel. (00) MALL RR | Fara . | sul | dull | sel | dou | siete Heat yoo | aau | yoo | 200 | Hleatat seasiey at Eat 24 20 au 20 | Rs stHeteel ara Ulatell Hy! (Z) | 4,4N0 | 4OO | 4,249) UOO leat exBratt Goutal BAL 30,000 20,000 maat 3 A as cl2a yariord ciated 52 8. a Usted HIS Ong BL 2U,000 8. (4%) deni A canal vel AH airtaated 8. Beat Bs Adored HiRes WIR 742,000 4 sad ese MUMS WLR % 3,000 20 adistl eseil mus WUR % 2,000 dei vo wall ma oR usd aaratdl u yard arias 8 ell, 34-42-96 ett lo YL aa aia UaLZeiledl aURtet war [20 au 30 40 O fea NO 30 400 £0 aw al elute vel z vilgla vel (30% Ree ) 30, 000 Glove viel (2% RR) 3,00,000 AuRoRa wona2 viel (60% Raz) €0,000 THE INSTITUTE OF COMMERC FY,SY.TY.8.COM,B.COM (HOH), 8 laud vel (30% Raz) 90,000 98251 64074, 0261-2744054 uiar - dlovall (30% ar) £0,000 sled HVA (¥O% Raz) €0,000 © aAt ai Halle Bs F 30,000KU Bs Bla a. O¢-O6-44 all lev vidal oa UR 1O% AAR WIL, BAS Waele Usctrell eae ealad was dle sl. RAN-0259 | [5] [P.7.0.]vw 5 ala aval, (214 a avr) (a2) (4) pHi evicnaadls sam, (2) waUEL Use UEAlaett grUErail (3) ABURY OPUS BA BILAL OLS (8) Sot use vette (Ww) AL use YEA AGRA , EaeMA TERn 5251 64074, 0261 Instructions (1) As per the instruction no, 1 of page no. 1 (2) Figures to the right indicate full marks of the question (3) Question number 1 is compulsory. (4) Show the necessary calculation as a part of answer, (A) (B) Give the answers as per instruction: (03) The following information is available in respect of contract No.- 111 for the year ended 31/03/18 Contract price = 9,00,000 Total cost debited to contract account 5,00,000 Material at site % 20,000 Uncertified work = 1,60,000 Cash received is 80% of work certified work has been done till 315 March 2018. Show the effect regarding Contract No. 111 in the balance sheet as on 31-03-2018. A Raw material has to pass through three processes namely X,Y (02) and Z to reach finished product stage and the normal loss is 8%, 5% and 10% respectively. In Process X, abnormal wastage is RAN-0259 | [6] [ Contd.25% of normal wastage and abnormal gain is 20% of normal wastage in processing Z the finish output is 3,933 units. Find out the number of units initially introduced in process X. (C) A company undertakes to supply 500 units of a component per 6) month for the month of October, November and December 2018. Every month of batch order is open against which materials and labour cost a booked at actuals. Overhead expenditure is charged from the worker's hourly rate. From the following data present the profit per unit of each batch order and the overall position of the order of the 1,500 units. The selling price is contracted at rupees 12 per unit Batch output Materials Labour Month Unit z z October 625 3,125 1,250 November 750 4,500 1.500 December 500 2.500 1.000 Labour is paid of the rate of Rs 2 per hour. The other details are: Month Overhead @) Total labour hours October 6,000 2.000 November 4,500 2,250 December 7,500 2,500 AuRoRa THE I : TITUTE OF 3H. 8.COM, FY.S. RAN-0259 | [7] [PT.O.]Radhika Construction Company started a contract agreement worth (14) % 40,00,000 on 01-05-2015. The details related to the contract are as follows. Particular 31-12-16 | 31-12-17 Work in progress A/C Work certified 16,00,000} _28,00,000 Uncertified work 80,000 3,00,000 | Materials at site 25,000 40,000 | Machines at site 3,00,000, 2] Reserve profit 2,08,000 2 a [31-12-17 | 31-03-18 | actual® | Estimated & Material expenses 5,00,000 _3,00,000 Labour expenses | 250,000 80,000 Indirect expenses 1,50,000 1,00,000 Subcontract cost 80,000 20,000 Sales of materials 30,000 - (cost Rs 40,000) Contingency expenses E 30,000 Other information's: (1) The contract would be completed by 31-03-18. (2) Machines are depreciated at 15% on straight line method. (3) The value of materials on hand will be % 25.000 at the end of the contract. (4) The machines were sent to the contract's place on the date of the contract start. From the above information: (1) Prepare a contract account for the year ended on 31-12-17 and show your calculations of the amount of profit to be credited to profit and loss account. (2) Prepare Proforma Contract A/c. OR AuRoRa THE INSTITUTE CF COMMERCE RAN-0259 ] FY.Y.TY.B.COM.B.COUL IRE), & 1.60 [ Contd. 98251 64074, O2$1-24440542 A company produce a product which passes through three processes (14) named X, Y and Z and thereafter to finish stock. Prepare the three process accounts and abnormal losses or gains account from the following information for the year 2017-2018. Particular x Y Zz Unit introduced (per unit Z 100) @ - - Normal loss (% of unit introduced)| 10 20 30 Sales price of loss per unit @) 50 100 125 Units of abnormal loss 50. : - Units of abnormal gain : : 14 Unit produced @ 680 @ Factory expenses accept raw @ | 51,000 | material Ratio between direct and indirect 3:2 23 I factory expenses Loss transferred to costing profit | 7,500 - - and loss account from Abnormal loss account Profit transferred to costing profit - - 5,250 and loss account from Abnormal gain account 3 (A) Compute the missing data indicated by the question marks in the following. 7 Particulars A B Standard price (per unit) z420 | Actual price (per unit) 0) Z10 Actual quantity (kgs) 2,200 | 4,400 Material cost variance -200 Q Material price variance Q -4,400 Material usage variance -420 | 2,400 AuRoRa THE INSTITUTE OF CO}, Fx SV.T¥ O.COM BoM (ee RAN-0259 ] [9] [ PTO. ](B) From the following data of Neeta Company Limited Calculate labour variances. (07) Standard ‘Actual Particular Permanent [Temporary] Permanent | Temporary workers | workers | workers | workers Number of workers 500 125 400 200 Number of working days during the month 3 20 % 20 A hl Seems ae 1,150 400 1,250 500 for workers @) Production units during — a the month OR 3 Shri Vivek is owner of Hotel Yuvraj building rent is monthly a4) % 25,000. Maintenance will be Borne by him. Monthly salary of a hotel manager % 12,000 Monthly salary of 4 clerk = 3,000 Monthly salary of 20 Room attendant 2,000 Hotel has 40 beds and when it is necessary more 5 beds can be arranged. Occupancy of dates during the year ended on 31-12-18. Beds 20 50 30 40 45 Days 50 30 100 80 85 Expenses during the year Office expenses (30% fixed) % 30,000 Food expenses (25% fixed) % 3,00,000 Decoration expense (60% fixed) & 90,000 Laundry charges (30% fixed) % 70,000 Power electricity (30% tixed) % 60,000 Building maintenance (40% fixed) % 60,000 AuRoRa THE INSTITUTE OF COMME! RAN-0259 | gol STL {comaay (2) @) (4) (3) 8 new washing machines were purchase on 08-08 2018 of Rs. 30,000 each. Calculate 10% depreciation on these machines. From the above information prepare statement showing cost per day per bed, Write short note: (any three). (12) Escalation clause in a contract. Advantage of standard costing. Normal and Abnormal wastage Job Costing Operating costing. AuRoRa THE INSTITUTE OF CON a0 FYISY.TY,BCOMBCOW 2745054 RAN-0259 | [1] [ 19700 |