CS Executive Cost and Management Accounting PYQ June 2014: Question Paper and Available Answers
CS Executive
Cost and Management Accounting
PYQS Series
June 2014
26 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Cost and Management Accounting PYQS (June 2014). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- "Limitations of financial accounting have made the management to realise the importance of cost accounting." Comment.
- State the rules regarding transfer of profits to profit and loss account in case of incomplete contracts.
- What is 'integrated accounting' system? State its advantages.
- Write a note on social purposes of cost audit.
- Distinguish between 'normal losses' and 'abnormal losses' in relation to process costing.
- Distinguish between 'traditional absorption costing' and 'activity based costing'.
- A manufacturing company has three production departments and two service departments. Given below are the production overheads as per the primary overheads distribution summary in
- The cost of manufacturing 5,000 units of a commodity comprises: Materials: ₹20,000 Wages: ₹25,000 Chargeable expenses: ₹400 Fixed factory overheads: ₹16,000 Variable factory overhe
- Distinguish between 'absorption costing' and 'marginal costing'.
- Distinguish between 'job costing' and 'contract costing'.
- Compute the machine hour rate of a machine from the following information: Cost of the machine: ₹18,000 Cost of installation: ₹2,000 Scrap value after 10 years: ₹2,000 Rates and re
- From the following details, you are required to ascertain the equivalent production using (i) First in first out (FIFO) method; and (ii) Average cost method: Opening work-in-progre
- What remedial measures would you suggest to minimize the labour turnover?
- What is a 'cost plus contract'? What are its disadvantages?
- During the first 48 hour week of April, the workman Kallu produced 300 units of a product. He receives wages on the basis of piecework with guaranteed wage for the week at the rate
- The profit as per cost accounts of a manufacturing company for the year ended 31 st March 2013 was ₹2,50,000. The following details were ascertained on comparison of cost and finan
- Explain ABC analysis and Economic Order Quantity (EOQ) techniques of inventory control.
- What is 'margin of safety'? How can it be improved?
- The following data is obtained from the books of a company: Normal overheads rate: ₹3.00 Actual hours operated: 20,000 Allowed hours for actual production: 21,000 Allowed overheads
- Reliable petroleum's periodic inventory of petrol on hand is taken when the books are closed at the end of each month. The following summary of information is available for the mon
- Why the flexible budgets are considered superior to the fixed budgets?
- From the following information, compute (i) Material cost variance; (ii) Material price variance; and (iii) Material usage variance. Quantity of material purchased: 3,000 units Val
- A contractor, who prepares his account on 31 st December every year, commenced a contract on 1 st April, 2013. The costing records relating to the said contract reveal the followin
- X Ltd., owns two factories, one at Noida and the other at Haridwar. Both factories produce same product with the same selling price of ₹200 per unit. The following are the other co
- Sunrise Ltd. reported profit after tax of ₹38 lakhs for the year 2011. The company's share capital consists of 2.5 lakhs shares of face value of ₹10 each. The company declared a di
- The following are the balance sheets of a company for the two years ending on 31-03-2012 and 31-03-2013. Liabilities 31.03.2012 (₹) 31.03.2013 (₹) Equity share capital 1,15,000 1,1
How to Prepare for CS Executive Cost and Management Accounting
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