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2003 Course Costing & Cost Control (Elective I)

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Total No. of Questions : 12] [Total No. of Pages : 4 [3764]-140 P1467 B.E. (Mech. S/W) COSTING AND COST CONTROL (2003 Course) (Elective - I) Time : 3 Hours] [Max. Marks : 100 Instructions to candidates : 1) Answer any one question from each unit. 2) Answers to the two sections should be written in separate books. 3) Neat diagrams must be drawn wherever necessary. 4) Figures to the right indicate full marks. 5) Use of electronic pocket calculator is allowed. 6) Assume suitable data, if necessary. SECTION - I Unit - I Q1) a) Distinguish between financial accounting and cost accounting? [6] b) What are the limitations of financial accounting? [4] c) Indicate whether the following statements are True or False. [6] i) Cost audit is a part of financial accounting. ii) Cost is a fact, price is a policy. iii) All costs are controllable. iv) Fixed cost per unit is always constant. v) Variable cost per unit is always constant. vi) Standard cost means what cost should be. OR Q2) a) Distinguish between direct labor and indirect labor cost? Give four examples of indirect labor that may arise in factory? [8] b) Distinguish between Balance sheet and P&L account with an example?[8] Unit - II Q3) a) Indicate whether the following statements are True or False. i) [6] Variable overheads vary with time. P.T.O.

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