CS Executive Cost and Management Accounting PYQ June 2017: Question Paper and Available Answers

CS Executive Cost and Management Accounting PYQS Series June 2017 100 Questions Indexed

ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Cost and Management Accounting PYQS (June 2017). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.

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Indexed questions

The chief objective of cost accounting is to:
Cost accounting differs from financial accounting in respect of :
A power house which generates and supplies power is called :
Over-absorption of factory overheads due to inefficiency of management should be disposed by:
Costs which can be identified easily and indisputably with a unit of operation or costing unit or cost centre is called:
The following information relates to the production department of a factory : Materials used ₹30,000 Direct labour ₹20,000 Overheads ₹5,000 On an order carried out in the departmen
Salary of a foreman should be classified as a:
The costing method in which fixed factory overheads are added to the inventory is :
The primary documents used for collection of production overheads are:
Which of the following costs is not a factory overhead expense ?
A method of dealing with overheads involves spreading common costs over cost centres on the basis of benefit received. This is known as:
Which of the following is not a means whereby factory overheads can be charged out of production ?
An organisation is divided into number of departments and overheads are collected, allocated or apportioned to respective departments, is called :
Ramya Ltd. furnishes the following information: Production 10,000 units, Sales 10,000 units, Selling price ₹12 per unit, Variable cost ₹6 per unit, Fixed costs ₹40,000 per annum (n
A manufacturer produces 2,00,000 units of a product at a cost of ₹3.25 per unit. Later on he produces 2,75,000 units at a cost of ₹3.20 per unit, when its fixed overheads have incr
Mr. Mahesh has a sum of ₹3,00,000 which invested in a business. He wishes 15% return on his fund. It is revealed from the present cost data analysis that variable cost of operation
A radio manufacturer finds the while it costs ₹6.25 per unit to make component M-140 and the same is available in the market at ₹5.75 each. Continuous supply is also fully assured.
In a purely competitive market, 10,000 pocket transistors can be manufactured and sold and certain profit is generated. It is estimated that 2,000 pocket transistors need to be man
A firm has given the following data: Fixed expenses at 50% ₹15,000, Fixed expenses when factory is close down ₹10,000, Additional expenses in closing down ₹1,000, Production at 50%
From the following data, P/V ratio will be: Year Sales Profit 2015 50,00,000 5,00,000 2016 75,00,000 10,00,000
You are requested to report to top management of Eastern India Engineering Company the point of sales in terms of rupee to break-even. For the purpose, you obtain that: Fixed overh
In a period sales amount to ₹2,00,000, net profit ₹20,000 and Fixed overheads are ₹30,000. If sales ₹3,00,000 profit will be:
Reliance Furniture House places before you the following trading results: Year Units Total Costs (₹) Sales (₹) 2015 10,000 80,000 1,00,000 2016 12,000 90,000 1,20,000 Fixed cost wi
A factory engaged in manufacturing plastic buckets is working at 40% capacity and produces 10,000 buckets per annum. The present cost-break-up for one bucket is as under: Materials
Rowan premium plan is an improvement over:
A company has fixed costs of ₹90,000 with sales of ₹3,00,000 and profit of ₹60,000. Margin of safety will be :
A company sells its product at ₹15 per unit. In a period if it produces and sells 8,000 units, it incurs a loss of ₹5 per unit. If the volume is raised to 20,000 units, it earns a
The cost accountant of M Ltd. has ascertained the selling price of a product is ₹20 per unit. Variable cost is ₹15 per unit and break-even point is 21,600 units. Management has dec
Yadhav Co. has annual fixed cost of ₹1,20,000. In 2015 sales amounted to ₹6,00,000 as compared to ₹4,50,000 in 2014 and profit in 2015 was ₹50,000 higher than in 2014. If there is
A company manufactures and sells three types of product namely A, B and C. Total sales per month is ₹80,000 in which the share of these three products are 50%, 30% and 20% respecti
A plant produces a product in the quantity of 10,000 units at a cost of ₹3 per unit. If 20,000 units are produced, the cost per unit will be ₹2.50. Selling price per unit is ₹4. Th
A plant is operating at 60% capacity. The fixed costs are ₹30,000, the variable costs are ₹1,00,000 and the sales amount to ₹1,50,000. The percentage of capacity at which the plant
The standard cost card shows the following details relating to material requirements for production one kg of groundnut oil : Quantity of groundnut 3 kg. Price of groundnut ₹1.50 p
When demand forecasting is difficult, budget which is prepared :
Standard set for material consumption was 100 kg. @ ₹2.25 per kg. In a cost period opening stock was 100 kg. @ ₹2.25 per kg. Purchase made 500 kg. @ ₹2.15 kg. Consumption 110 kg. T
The following information is given : Materials purchased 3,000 kg. Value of materials purchased ₹9,000 Standard quantity 25 kg. for one kg. finished goods Standard price ₹2 per kg.
Given for a factory: Normal number of workers in the department 50 Normal hours paid for in a week 40 Standard rate of wages per hour ₹0.80 Standard output of the department per ho
The following information relate to manufacturing process of a company : Number of employees 200 Weekly hours worked 40 Standard wages rate 50 paise per hour Standard output 250 un
The data given below : Standard Actual Labour hours 10,000 12,000 Variable overheads ₹2,000 ₹3,000 Units output 5,000 4,000 Variable Overhead Expenditure variance will be:
Dividend per share / Market price per share × 100 = ............
The branch of accounting which primarily deals with processing and accounting data for internal use in a concern is :
Material cost variance is due to :
In cash flow, income tax paid is treated as:
When margin of safety is 20% and P/V ratio is 60%, the Profit will be :
Proprietor's net capital employed is known as:
Which of the following is not applied in Management Accounting?
EBIT/Total assets ratio is:
If the total cost of producing 20,000 units of a product is ₹90,000 and if 25,000 units will be produced, then the total cost will be ₹1,05,000 and the selling price is ₹8 per unit
P/V ratio 25%, Sales ₹1,20,000 and Fixed costs ₹17,500, Profit will be :
Under marginal costing system, product costs are:
A, B, C analysis is ............
In differential cost analysis, managerial decisions are based on:
The difference between the standard hours for the actual output and actual hours for actual output and multiplied by standard rate per hour is:
The difference between actual price and standard price multiplied by actual quantity will result into:
The budget which usually takes the form of profit and loss account and balance sheet is known as:
A fixed budget is one which :
A good costing system gives equal emphasis on cost ascertainment and cost ............
The method of costing used both in a cinema and a hospital is ............ costing.
............ is a location, person or item of equipment for which cost may be determined and used for the purpose of cost control.
Difference between standard normal loss and actual normal loss is :
Prime cost plus variable overheads gives :
One of the most significant tools in cost planning is:
Cost of goods produced consists of:
Cost of Sales + Operating Expenses / Sales x 100 is:
Two avoidable reasons for the difference between bin card and physical quantity of material may be ............ and wrong posting in the bin card.
When prices fluctuate widely, which of the following method will even out the effect of fluctuations?
In which of the following methods, material issues are priced at pre-determined rate?
Which of the following does not normally appear on a material requisition form?
............ is defined as the rate of exchange of labour force in an establishment during a particular period.
Overtime wages arising out of abnormal conditions, eg. flood, strike etc. should not be charged to ............
When standard output is 10 units per hour and actual output is 14 units per hour, the efficiency level will be :
Given that Standard Time for a job is 10 hours, actual time taken is 6 hours and the rate of wages is ₹3 per hour. The total wages under Halsey scheme will be :
Maximum possible production capacity of a plant when operating time is fully utilised is its:
Research cost undertaken at the request of the consumer should be charged to:
When direct materials are issued to production, the accounting entry is to debit ............ control a/c and credit stores ledgers control a/c.
Which of the following items is not included in cost accounts ?
When costing loss is ₹6,500, administrative overhead under absorbed being ₹500, the loss as per financial accounts should be :
In big contracts the completion of work is certified by:
Batch production is suitable for:
The stage of production where separate products are identified is called ............
Costs incurred upto the point where individual products can be identified are called ............
The method of costing is suitable in chemical industries is:
Individual products, each of a significant sales value, produced simultaneously from the identical raw materials are called:
Credit sales ₹3,00,000, Opening balance of accounts receivable ₹50,000 and Closing balance of accounts receivable ₹70,000 (assuming 360 days in a year). Debtors turnover ratio will
Profit on sale of machinery should be ............ from net profit to get funds from operations.
Short-term solvency is indicated by:
Which of the following is not true ?
By 'Cash Equivalents' we mean :
Management Accounting aims at :
Assertion (A) : In management accounting firm decisions on pricing policy can be taken. Reason (R) : As marginal cost per unit is constant from period to period within a short span
Net Profit + Non-Cash expenses =
Assertion (A) : Profit volume ratio is considered to be the best indicator of the profitability on the business. Reason (R) : If profit volume ratio improved, it will result in bet
Statement I: Margin of safety represents the difference between the sales at break-even point and the total sales. Statement II: Margin safety can be expressed as a percentage of t
Match the following: List I (a) Classification of costs into fixed and variable cost (b) Difference between sales and variable cost (c) Both fixed and variable cost are charged to
Match the following: List I (a) Cash flow statements (b) Inflow of cash (c) Investment (maturity period 3 months) (d) Payment of dividend List II (1) Inflow of fund (2) Short-term
Match the following: List I (a) Prepaid expenses (b) Sales ratio (c) Return on investment (d) 100 - Proprietary ratio List II (1) Solvency ratio (2) Net profit margin x investment
Match the following: List I (a) Increase in fund (b) Goods purchased on credit (c) Commission outstanding (d) Net loss List II (1) Application of funds (2) Drain in working capital
Consider the following statements : (1) Marginal costing and absorption costing are the same. (2) For decision-making, absorption costing is more suitable than marginal costing. (3
Which of the following are advantages of marginal costing? (1) Pricing decision (2) True profit (3) Difficulty to classify (4) Ignores time value (5) Break-even analysis (6) Contri
Arrange the following categories of cash inflows and cash outflows in a correct order: (1) Cash from investing activities (2) Cash from financing activities (3) Cash from operating

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