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CMA JANUARY 2022 EXAMINATION, INTERMEDIATE LEVEL |, COST ACCOUNTING, , | Course Code cM Total Marks 100, Reading Time 15 minutes Whiting Time 180 minutes, , instructions to Candidates, You MUST NOT write anything during the reading time, You should attempt ALL questions,, Answers should be properly structured and relevant, Carefully read ALL the requirement! d questions be' ating a specific question., ALL answers must be written in the answer boo, AVOID WRITINGIMARKING on the question paper at any time which may cause disciplinary, action, St, , stion number, , Allowable Materials, . Writing Stationaries, , * _Non-programmable Calculator, , Assessment Structure, | Expected Time, Required, | Question 1 | Multiple Choice Questions 1 20 minutes |, Modified True/False 5 = 10 minutes |, , Matching 10 minutes |, 2.50 minutes, 32.50 minutes, , 2.50 minutes, 32.50 minutes, , 10 minutes |, , 180 minutes, , RESTRICTED USE, This paper MUST NC E REMOVED from the exa nm venue, , Do not turn the page until instructed

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SECTION A [20 MARKS], , A TIONS IN THE, THERE ARE 3 (THREE) QUESTIONS IN THIS SECTIO R ALL THE QUESTIONS, ANSWER SCRIPT FOLLOWING THE EXAMPLE PROV!, , N. ANSWE:, , DED FOR THE SPECIFIC QUESTION,, , QUESTION 1 = (10x 1=10 MARKS], , There are ten (10) multiple-choice questions with five ‘ons, Pick the option that best explains the, cript [DO NOT PUT ANY MARK ON THE, , given question. Write ve answer sc, QUESTION PAPER]. Folic ve exam given below in providing your answer., , Example:, (i) ICMAB stands for the —, (a) Institute of Cost Management ounting of Bangladesh, (b) Institute of Cost and Manag Bangladesh, (c) Institut Cost Man and A Bangladesh, (d) Institute of Cost Mani, (e) Industrial Cost Management Accountants of Bang!, , , , , , Answer: (i) (b), , (i) The main objectiv punting is:, (a) To record usi ransactions, (b) To measure manage, (c) To ascertain the true cost of products and services, (4) To de, (e) Noi, , Cost Accounting concepts include all the following except (a) Planning, , (b) Controlling, , (c) Profit sharing, , {d) Prodi, , (ii) A biscuit manufacturing company uses:, (8) Operating costing, (b) Departmental, (c) Batch costin:, {d) Contract, (e) None of these, , {iv) Process costing is suitable for (a) Hospitals, (b) Oil refining firms, (c) Transport firms, (d) Brick laying firms, (e) All, , (v) The cost which is to be incurred even when a business unit is closed is a, (a) imputed cost =, (b) Historical cost, (c) Sunk cost, (d) Shutdown cost, (e) None of these, , (vi) Audit fees is a part of (a) Works on cost, {b) Selling overhead, (c) Distribution overhead, (d) Administration overhead, (e) None of these, , , , CMA January 2022 Examination, CMI21 [Page 2 of 2)

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tock and profit, (b) provide high d profit, AC} prow yest value of profit, @) provide highest value of profit but low Pancina cick, (e) None of these, , omparing Rowan pian and Halsey p, , ne standé, , that when the time saved is less than 50% of, , worker than Ha plan, , 2 worker than Halsey plan, an and Hal, , a wor, , an plan and Hal ne ordinary time wage, fe) None ol, , x) Manufact int ts classified under, , Separable c, , Joint cos, , (c) Main c, , (d off cost, , and demand in units for one year are, , QUESTION 2 [5* 1=5 MARKS], , There are, , statements as True or False. If, , ihe statanient ‘ . f make it ‘True’. Reasoning is NOT, , Example:, , 19 of Bangladest, Answer, , (a) False. ICMAB stands for the Institute of Cost and Management Accountants of, Bangladesh., , AB does not stand for the Industrial, , statement rather only mention that the, , , , ne that has the eleme! oth fixed and variable cost, { prime cost and conversion cost, , accurate than traditional system, , CMA January 2022 Examinatic

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QUESTION 3 (5 * 1=5 MARKS], , {column B. Match only one item of column, script, Follow the example given below, , Match th of column A with the most suitable item:, A.with one item of column B. Write your answer on the an:, , in providing your answer, , Example:, , Column A [Column B, (a) Professional accountancy b, (b) University, , Answer: 1 (a), , Column A Column B, , (1) Job costing, , re Output from one inpul, , Transportation firm:, , END OF SECTION A, , SECTION B [80 MARKS], THERE ARE 4 (FOUR) QUEST S ) ER ALL THE QUESTIONS IN THE, ANSWER SCRIPT ‘ 4 >, , QUESTION 4 [(5+5+10) = 20 MARKS], (a) Wage ve plans are succe E ting near full capacity, these plar er urtailed production, , of capacity?, , ncentive wage plan erating at 60), , parts calle ances. Name these, w their computat, , n excellent quality walking shoe. After production, the, round the country house services, wick uses an EC del to determine the number, @ from the factory, Anr jemand for Warehouse, The ordering cost ts 250 per order. The, , 2.40 per pair, , Required, , Use the | to determine the optimal number of pairs of shoes per order, , 2. Assume each month consists of approximately 4 weeks. If it takes 1 week to receive an, at what point should warehi OR2 reorder shoes’, ekly demand is 2,500 pairs of shoes (120,000 /12 months! 4, sek may vary with the following probability distribution, [Total demand for 1 week | 2,000 pairs [2,250 pairs | 2,500 pairs | 2.750 pairs fae pairs, , | Probability (sums to 1.0 0.04 0.2 [0.52 [0.20 0.04, , CMA January 2022 Examination, CMI21 [Page 4 of 7]

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store at an additional, , rn u a s w will thes affect the, , QUESTION, s ((4 + 4+ 12) = 20 MARKS), , in with an exai, , loreign competitic, , 300 per year. A great deal of, , anagement is anx to see, , and last year, , [(2 + 8 + 10) = 20 MARKS}, {vertising campaign by Pepsi, , accoun!, The compat, Jogging Mate, , Standard R, per Hour, , 18 minules Tk. 12,00, , ct labor time we, , ii eeded to make 20,000 units of the, Jogging ost totaled T 30 for the month,, , Required, $ have been incurred to make, , Joes this differ from the cost that was, incurred?, , Break ci nce in cost from (1) above into a labor rate variance and a labor, efficiency variance., , CMA January 2022 Examination, CMI