CS Executive Cost and Management Accounting PYQ December 2019: Question Paper and Available Answers
CS Executive
Cost and Management Accounting
PYQS Series
December 2019
100 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Cost and Management Accounting PYQS (December 2019). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Fixed cost is a cost
- Which of the following is not directly considered as a function of management accounting?
- Imputed cost is a
- ___________ represent the resources that have been sacrificed to attain a particular objective.
- ___________ are difficult to trace to a single product or it is uneconomical to do so. They are common to several product.
- Management accounting is : (a) Subjective (b) Objective
- Material consumed is ₹5,00,000, Opening stock of raw material is ₹50,000 and Closing stock of raw material is ₹25,000. What is the cost of raw material purchased ?
- Scrap is
- Stores ledger is a ............
- Which of the following items can be classified as "C" category as per ABC analysis of inventory control? Items | Unit usage | Value per unit (₹) 1 | 20,000 | 60.75 2 | 10,000 | 80.
- Costs associated with the labour turnover can be categorized into :
- Calculate the labour turnover rate according to Separation method from the following: No. of workers on the payroll : At the beginning of month : 500 At the end of the month : 600
- In relation to labour cost, "Free or Subsidized Food" will be classified as:
- Normal rate per hour = ₹5.40; Standard time per unit = 1 Minute; Output per day = 450 units; Working hours per day are 8; Calculate the earning as per Merrick's Multiple Piece Rate
- Normal rate per hour ₹4.00; Piece rate ₹3.00 per unit; Standard 2 units per hour; In 40 hours, total production of the worker is 120 units. Calculate the earnings of the worker und
- Which of the following provides guaranteed time wage to workers?
- Labour turnover rate for the month was 20% under replacement method; Number of workers replaced during month was 80 and left was 20. Find out the average number of workers on roll
- In which of the following methods "Line of best fit" is drawn to find out "variable overheads" and "fixed overheads" out of "Semi-Variable Overheads"?
- Under or Over absorption of overheads due to abnormal factors is :
- Percentage of direct material cost method of factory overhead absorption is suitable :
- Assertion (A): Overheads are recovered in Cost Accounting based on predetermined rates. Reason (R): This solves the problem of treatment of under-recovery or over-recovery of overh
- Most suitable basis for apportioning insurance cost of machines would be :
- ___________ is an item like product, job or customer for which cost measurement is required in Activity Based Costing.
- Which of the following is likely to be classified as a batch level activity in an activity based costing system ?
- One of company A's cost pool is parts administration. The expected overhead cost for that cost pool was ₹3,80,000 and the expected activity was 5,000 part types. The actual overhea
- The division of activities into unit level, batch level, product sustaining level and facility level categories is commonly known as a :
- On 31st March, 2019, profit as per financial accounts was ₹50,000. A comparison of cost and financial accounts revealed the following: Works overheads over-absorbed in cost account
- What journal entry will be necessary to be made for sales at total sales value during a year, if the books are kept under Non-integrated Accounting System?
- In non-integrated accounting system, the standing order ledger is used to record :
- Assertion (A): In an integrated accounting system, there is no need of reconciliation of cost accounting profit and financial accounting profit. Reason (R) : Only one set of books
- In a reconciliation statement prepared by taking profit as per cost account as the base, overheads over-recovered in cost accounts are to be:
- Which of the following statements is true?
- If the sales value of a product is ₹94,080 and the profit margin on cost is 12%, the amount of profit will be :
- In contract costing, cash received = ?
- Profit on incompleted contracts should not be transferred to profit and loss account, if the value of work certified is less than ___________ of contract price.
- The total profit is ₹60,000, on a contract price of ₹3,00,000 and the contract is 60% completed and has been certified. If the retention money is 20% of the certified value, the am
- Which of the following is not a feature of a process production system ?
- Where the scrap possesses a saleable value as a waste product or as a raw material for another product, the value there is :
- A product is completed in three consecutive processes. Details of normal and abnormal losses are as follows: Process | I | II | III Normal loss unit | 250 | 470 | 215 Abnormal loss
- Costs that are incurred after the split-off point of joint products in a production process are referred to as :
- Joint costs are allocated to which of the following products: By-Products | Scrap
- In service costing, costs are classified as:
- Total passenger km run by ABC Ltd. was 21,60,000 for the year between town Z and town A. The bus made 3 round trips per day. Seating capacity of the bus was 50 passengers and avera
- A transport company is running 5 buses between two towns, which are 50 km apart. Seating capacity of each bus is 50 passengers. Actually passengers carried by each bus were 75% of
- If fixed costs decrease while variable cost per unit and selling price per unit remain constant, the new BEP in relation to the old BEP will be :
- Sales ₹25,000; variable cost ₹20,000; fixed cost ₹4,000; P/V ratio is:
- If the P/V ratio is 25% and selling price is ₹25 per unit, the marginal cost of the product would be :
- ABC Ltd. shows a break-even sales of ₹42,500 and a budgeted sales of ₹50,000. Identify the margin of safety ratio :
- A company makes a single product and incurs fixed costs of ₹20,000 per annum. Variable cost per unit is ₹5 and each unit sells for ₹15. Annual sales demand is 7,000 units. The brea
- Contribution margin is equal to:
- P/V Ratio is an indicator of ............
- In marginal costing, Angle of Incidence is ............
- A company's break-even point is 55,000 units per annum. The selling price is ₹92 per unit and the variable cost is ₹42 per unit. What are the company's annual fixed costs ?
- If P/V Ratio is 20% and Margin of Safety sales is ₹4,00,000, the amount of profit is:
- Standard cost per unit of X: Material 50 kg @ ₹40/kg Actual production 100 units Actual material cost ₹42/kg Material price variance 9800 A Material usage variance 4000 F Ascertain
- When calculating cost variance under a standard costing system we must :
- Gang variance is a sub-variance of :
- Match the following: List-I | List-II (P) Cost control purposes | (1) ___________ is a pre-determined cost (Q) Standard cost | (2) Responsibility accounting fixes responsibility fo
- Examine the following relating to Job No. 100: Standard hours planned | 64.50 Actual hours worked | 61.25 Standard wage rate | ₹4.15 Actual wage rate | ₹4.25 Standard units budgete
- Examine the following relating to Job No. 999: Standard hours planned | 28.0 Actual hours worked | 26.5 Standard wage rate | ₹5.60 Actual wage rate | ₹6.05 Assume that there is no
- Standard for various overheads is based on:
- The standards that require peak efficiency and do not allow any work interruptions are known as:
- The following information belongs to ABC Manufacturing Company that uses a standard costing system: Basic wage rate : ₹12 per hour Fringe benefits : ₹2 per hour Basic time : 2 hour
- A flexible budget is:
- If a company plans to sell 16,000 units of a product and desires to sells 17,000 units, the most appropriate comparison of the cost data associated with the sales will be possible
- Consider the following data for the month of May: Closing stock | 80 units Production | 280 units Sales | 330 units Based on the data, the closing inventory for April month was:
- ABC Ltd. has forecast its sales for the next three months as follows: May : 12,000 units June : 20,000 units July : 25,000 units Opening stock as on 1st April is expected to be 5,0
- Budgeted sales of X for March are 18,000 units. At the end of the production process for X, 10% of production units are scrapped as defective. Opening inventories of X for March ar
- ABC Limited is a manufacturing company that has no production resource limitations for the foreseeable future. The Managing Director has asked the company managers to coordinate th
- ABC Ltd. is currently reviewing its cash budget for the year ended 31st March, 2020. An extract from its sales budget for the same year shows the following sales values : Month | ₹
- Which of the following will not appear in cash budget ?
- Budgetary control involves all but not one of the following. Find that one :
- A job requires 2,400 actual labour hours for completion and it is anticipated that there will be 20% idle time. If the wage rate is ₹10 per hour, what is the budgeted labour cost f
- Estimated wages for January 2020, are ₹4,000 and Estimated wages for February 2020, are ₹4,400. If the company's practice is to delay a payment of wages is half a month, the amount
- Which section of the Companies Act, 2013 deals with audit of cost accounting records?
- The ratio that explains how efficiently companies use their assets to generate revenue is:
- While calculating dividend cover for preference shares the numerator should be taken as:
- A Ltd. financial statement shows the following data: Equity share capital ₹5,67,500 Reserve & surplus ₹3,87,850 Total debt ₹5,88,778 out of which ₹2,88,778 are long term debts
- Profit after tax of AB Ltd. was ₹3,44,460. Total assets are ₹5,97,70,000 out of which ₹3,57,70,000 was financed from loan funds. Calculate the return on equity :
- ABC Ltd. gives the following information : Fixed assets = ₹10,50,000 Fixed assets turnover ratio (on cost of sales) = 2 Gross Profit (GP) rate on sales = 25% Calculate the Sales va
- Debtor velocity = 3 months Annual Sales ₹25,00,000 Bills receivable & bills payable at the end of the year were ₹60,000 and ₹36,667 respectively. Calculate Sundry debtors :
- In case of Financial Institutions, cash flows arising from ___________ are classified as cash flows from operating activities.
- Amortization of preliminary expenses is :
- The assets of another company were purchased for ₹60,000 payable in fully paid shares of a company. These assets consisted of stock ₹22,000, machinery ₹18,000 and goodwill ₹20,000.
- Cash payment to and on behalf of employees is an example of cash flow from :
- In cash flow statement cash flow on account of the income tax paid is shown:
- Which of the following involves a movement of cash in business ?
- In the books of ABC Ltd. the balance of 5% Debentures of the face value ₹100 each at the beginning of the year was ₹1,00,000 and at the end it was ₹70,000. At the end of the year ₹
- Net profit before working capital adjustments of ABC Ltd. is ₹3,52,000. The changes in working capital during the year are as follows: ₹ Decrease in debtors | 2,68,800 Decrease in
- From the following details calculate the cash generated from operations: Net profit before working capital changes is ₹3,051 lakh Net increase in current assets is ₹3,205 lakh, whi
- Statement-I : In funds flow analysis, current assets and current liabilities are shown separately in a statement of changes in working capital. Statement-II : In cash flow analysis
- Calculate cost of sales from the following information: Net Works Cost ₹2,00,000 Office & Administration Overheads : ₹1,00,000; Selling Overheads : ₹10,000 Opening stock of WIP
- Calculate cost per tonne mile for a distribution division of a multinational company using the following information: Tonnes carried | 2,479 Number of drivers | 20 Hours worked by
- The main focus of ___________ is upon the work to be done, services to be rendered rather than things to be spent for or acquired.
- When margin of safety is 40% of sales, find fixed cost when profit is ₹25,000.
- ___________ cost measures the addition in unit cost for an addition in output.
- The Cost Accounting Standard related with pollution control cost is :
- ___________ plan is a most suitable incentive plan for beginners and trainees.
- Primary packing is an item of:
- ___________ helps in predicting the future market value of the shares of a company.
How to Prepare for CS Executive Cost and Management Accounting
Use past questions to practise the paper format and review available answers. Check the current syllabus, applicable law and examination duration before attempting a timed paper.