mn 10 0 DA-2696 Second Year B. Com. (Sem. IV) Examination March / April - 2016 Advance Accounting & Auditing : Paper - III 6 ‘Time: Hours] [Total Marks : 50 3 nO. qari: ‘Seat No.: cata gp Rardad Rad Gneadl we mate andl, Fillup stltly the detalis of signe on your answer book. Name of the Examination [Second Year B. Com. (Sem. IV) Name ofthe Subject: ‘+[Advance Accounting & Auditing : Paper - III LI Subject CodeNo.| 2 || 6 || 9 iss! idles Nil neers em a (a) AAD WBA auUd rel er Baar add. z MSIE MaMa GU RIO SALS, SALSELS 2.20 3. ailgan | 00 sais, saiséls 2.40 3.| 1CO S415, SALSELS 1.40 3. (2) As seuvd Ubu RAN fl wdl fA wud d. z wba] arier qsart Gedtert (abe ema (faze) Rant 261) Guard Ud uel es MB eau vie aaa aAvurd au ad. DA-2696] 1 [Contd...(3) fA aude wud ual As wt NB Dwr Beboler z ad. Beller (ws) tt. saa wel or Wet DB YyRL adit sz HZ cox SL AAA B. 2 sedl Baa... mania sve ga alls wel 8,20,000 3. wil sd Prpeukia ysar al aA ag si WE etd ard. (¥) Rod. - wall wRdl AA yxo 3d. z Mea ABA s+. 20,000 3. wag 10,000 3. simu wal walt ++ €0% Me wal sett USAR 40% USAR UR ROM ALAA A Le 2-2 Bad asl srarell B. rela aura del sd ? DA-2696] 2 [Contd...2% ) Aaa SwAA sewiiel Meo i. Weel usar ald usae Reaiaiel fA yo aati aud d. (a) stead 90,000 3. (2) »@l our | wal sais | rl saisdls 3. (3) Gudsa ada Routt rey Ld yr 8. Preur| aia wade val 3. | uyal sais. (~) Bae vada val : ¥,000 apie seit sels AB aie 4,00,000 3. ual. Ao i. UU ga usazdl wid sa. a DA-2696] 3 [Contd...(61) Asc tefl gorfl A ate wife uel Hidadls usc MM. € wus (aifils) +++ UX,000 ++ 2Y,000 3. Rw ong (alls) uaa mA uur (as) MSaad wour saisdls ... Rardls Wa val Razrdls udder uidadls wurst Feud... nidadls ave ... R54 MUM... 2S Bad 2 alls ux ous Guratd &. 25 salsdls 20 vida wa B. mal DA-2696) 4 [Contd...2 Rept Argued Rd st-s own Awd sl aad AA yr d. ve Raa Gar UL SBadl ays -| %0,00,000 sarerd-Auierd 4,NO,000| —4,€0,000 ellirisit (usd? Bad) 414,€0,000 - Ass Ras 24,000 - 22 WU UA Na ss (a. svi cox) -| 2N,€0,000 a2uel Agadet (1-10-201%) - €0,000 SR iL. FOU MU = sda weit 42,00,000 = aol (1-0¥-209%) (ust Ba) 2,00,000 - werd wel €,NO,000 . uda val ¥,14,000 - 3¢,00,000 | 3¢,00,000 SUN SHIM AL, 1-OF-ZOATeIL AB 2g 44. 4212 Bad ¥O,00,000 3. dl. sur mad aAsaai uder a AS ux aed wa wsieeth ett, OLE % via aad AA 141, YOO 3. User Badd maw Go-c€-20V WAL dy avi ria A ed. aL gst AA com rsHed etd dle Su HQ wei edi. dl. 32-03-2074 Dy Wea da 1A DA-2696] [Contd...20% Hal DAML uaa SRA BUPU Eell. 19,800 3, WAU WH Ur aa ed. Binsmiia sirfl Usd2 2,20,000 3. él. 30,000 3. yal asaaiell sl edl 2A mUGd asda Yaa wal 24,000 3. Sal. Hour ails 92% AA wltAsit UR aUMs 20% AA aaa LAWL aa 8. at rovy-au at a2 (9) sar wud (2) tsi-gsat mid 2A (3) aig ary dar sd. srl wed Assn DA sad. Swirl Adi agi adely AAs dade a2 wiGA 9. al. 34-12-20 VE Aw yi adi atl wBd A yw 8. Rate aéalu ma | adelu a | adedu ¢ sala 24. Vo andls Bua (3.) Oo wa (3.) 20,000 alu wal (3.) ¥,000 Uae ae 40% aimed Aust enéls 3, €co AY €€ a4 Say a ol Geert 2/9 our BA aFaly OL tt Gauerted 4/2 LLL ofa ase wid ad wareti 218 B mA owed oust Az wiGA WA Aa AZ aS wart mad _B. adelu wi, osu wud dur sd. aaa DA-2696) 6 [Contd...3 (1) AA Mord auur area sd: ° Qari Bia Rae (i) ew ayaa Raed Gi mewn vl (Usa? Raed) (a mawrieid wael .... (2) wie ae Baa... (3) Mead woula eve (Gaued wads endls) ... (ew) uaarntll weer Bria... 2.No Ma Asudls (x) Meautd aged 2s .. - (2) Mt@artit 2M Ecce MOO ASL (9) wmeoUM Et GALE eee eeeee 0 an (a) As duel mel oat Getter WA Ae wel Rd 1 © 4x 8, (9) ga weve wad... (2) wera wet seus (3) seusdls vole wUiRter eee. a2. (we) RMR sit SALA cece U,200 DA-2696] 7 [Contd...lu Baad add. (4) mov Hag wel Reet (2) w@ 62 Baad (3) VQ selaia Raat. % Sst avd. (A A aan) aR (a Aa usdat Bg2l aA aael (2) Mor usar vel (3) 2a ouaads sem (es) suid srt, BrvouRid sei AA ag sid mg (uy) waner usar aater (e) wBad ous, DA-2696] 8 [Contd...ENGLISH VERSION Instruction : As per the instruction of page no. 1. 1 Q)/The data about wages paid in a factory are as follows: 2 t Type Standard Actual 200 hours at Rs. 2 | 210 hours at Rs. 2.20 Semi skilled | 200 hours at Rs. 1.50 | 190 hours at Rs. 1.40 @Tnformation relating to process H and N were as follows: 2 Process | Normal loss Production (Percentage of (Litres) input) Find out for each process abnormal loss or abnormal gain. _ From the following. information find out total 2 passenger kilometer per month. Passengers 15,000 | 8,500 | 7,000 | 5,000 | 4,000 DA-2696] 9 [Contd...gi ws of the work on contract is completed on year 2 2 6 DA-2696] ended on 31 March 2015. Contract price Rs. 5,00,000 Work certified is... Rs. 3,50,000 Total annual expenses were ... Rs. 3,20,000 Find out cost of work not certified and pass necessary journal entries for work in progress. The following details are given for Job No. 555 2 .. Rs. 20,000 .. Rs. 10,000 60% on labour . 10% of work cost Direct Materials... Labour .. Work expenses .. Other expenses The tender price should includes 20% profit on cost price. What should be the estimated selling price of Job No. 555 ? The following information regarding Job No. 155is 8 taken from cost accounts of an engineering factory Bhairav. (1) Materials Rs. 10,000 @) Labour Department Labour per hour Rs. 10 [Contd...(8) The overhead expenses regarding above four departments are estimated as under : Department Variable Labour Overheads Rs. | Hours 50,000 10,000 40,000 8,000 30,000 6,000 CO OQ W ob 25,000 5,000 (@ Fixed overheads Rs. 1,00,000 for 5000 general working hours Calculate total cost of Job No. 155. From the following data relating to truck ‘Ekta’, 6 4 compute cost per running mile. Mileage run (annual) Cost of truck... Road licence (annual) Insurance (annual) Garage rent (annual)... Supervision and salaries (annual) ... Driver’s wages per hour DA-2696) 11 [Contd...Cost of fuel per litre .. Miles run per litre.. Repairs and maintenance per mile .. ‘Tyre allocation per mile. Estimated life of truck .. 1,00,000 miles Charge interest at 5% per annum on cost of truck, ‘The truck run 20 miles per hour. OR 2 Following is the Trial Balance of Renuka Contractors Ltd. 14 as on 31.3.2015. Particulars Debit Credit Equity Share Capital - | 10,00,000 Debtors-Creditors 1,50,000 1,60,000 Land and Building (at cost) 11,60,000 - Cash on hand 25,000 - Cash received from Contractee (being 80% of work certified) - | 25,60,000 12% Bank Loan (01.10.2014) « 80,000 Contractor A/c No. 101 Materials issued 12,00,000 % Machinery on 1.4.2014 (at cost) 2,00,000 - Direct Labour 6,50,000 - Indirect Labour 4,15,000 - 38,00,000 | 38,00,000 DA-2696] 12 [Contd...The work on contract commenced on 1.4.2014. Contract price was Rs, 40,00,000. Out of machinery sent on site, 25% machinery was of special nature. All the special machinery and material costing Rs. 11,500 were burnt by fire on 30-6-2014. The insurance company admitted 80% amount of claim for the loss on 31.3.2015, 20% ordinary machinery was returned to stores stock of material amounted to Rs. 17,700 and the cost value of work uncertified was Rs. 2,80,000 unpaid wages amounted Rs. 30,000 and prepaid indirect expenses were of Rs. 15,000. Depreciation is provided on machinery 12% and on land and building at 10% per annum. Prepare Contract No. 101 Alc, Profit and Loss Account and Balance Sheet for the year 2014-15. Calculate profit on cash basis. _3-~Aruni Foundries Ltd. have three workshops and one warehouse; details of cost and production for the year ending on 31-12-2015 as follows : wf Particulars Workshop | Workshop| Workshop A c Raw material tonnes 140 Cost per tonne Rs. 60 Wages Rs. 20,000 Direct Expenses Rs. 4,000 Total weight loss in process 10% Sales of scrape (per tonne Rs. 60) | 42 tonnes 66 tonnes DA-2696] 13 [Contd... % §2/3 production of workshop A and 1/2 production of workshop. B is transferred to another workshop. Remaining production was transferred to warehouse for sales. Prepare workshop A, B and C accounts. OR 3 a) Calculate from the following information. ) DA-2696) @ Gi) a) @) @) @ 6) © @ Material price variance Material usage variance Material cost variance (cost variance) Purchase of materials 3000 units Cost of purchase of materials Rs. 9,000 For production of one tonne standard quantity of materials required 30 units Standard price Rs. 2.50 per unit Opening stock of materials Nil Closing stock of materials 500 units Actual production for a period 8.0 tonnes. Data about a company regarding production labour 7 cost for March 2015 are as under : @ @) @) @ Total Direct Labour .... Direct Standard Hours... Standard Labour rate per hour Actual paid hours... 14 . Rs. 65,000 .-. 5,400 Rs. 11 5200 {Contd...Calculate : (@) Labour Cost Variance @) Labour Rate Variance (3) Labour Efficiency Variance 4 Write short notes : (any three) 12 ()/ Objectives and features of operating cost 1 @) Job Costing Method @) Escalation Clause OY Cextified work, uncertified work and work in progress ©) Limitation of Standard Costing @ Process Wastage. DA-2696] 15 17,400]