15LT54E: Costing and Marketing Leather Tech 5th Sem Syllabus for Diploma DTE Karnataka C15 Scheme

Costing and Marketing detail syllabus for Leather And Fashion Technology (68), C15 scheme is taken from DTE Karnataka official website and presented for diploma students. The course code (15LT54E), and for exam duration, Teaching Hr/week, Practical Hr/week, Total Marks, internal marks, theory marks, duration and credits do visit complete sem subjects post given below.

For all other leather tech 5th sem syllabus for diploma c15 scheme dte karnataka you can visit Leather Tech 5th Sem Syllabus for Diploma C15 Scheme DTE Karnataka Subjects. For all other Elective-I subjects do refer to Elective-I. The detail syllabus for costing and marketing is as follows.

Pre-requisites:

Knowledge of Accounting.

Course Objectives:

The students shall be able to:

1. Implement Cost Accounting concepts in Leather & Allied Industry.
2. Illustrate the Method of Ascertainment of Cost and Profitability.
3. Show the Pricing of Issue of Materials by applying various Methods.
4. Calculate the Total Earnings of Workers by making use of various Methods of Remunerating the Labour.
5. Demonstrate the Absorption of Overheads by making use of various Methods of Absorption.
6. Prepare the Reconciliation Statement of Cost and Financial Accounts in Statement Form.

Course Outcomes:

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UNIT 1: AN INTRODUCTION TO COST ACCOUNTING 12Hrs

Meaning – Advantages – Limitations of Cost Accounting – Cost Accounting versus Financial Accounting- Essentials of a Good Costing System. Meaning of Cost – Elements of Cost – NonCost Expenses – Meaning of Cost Sheet – Purposes of Cost Sheet – Specimen/Format of Cost Sheet – Preparation of Cost Sheet – Meaning of Tender/Quotation/Estimate – Problems on Preparations of Tenders/Quotations/Estimates.

UNIT 2: MATERIAL COST 8Hrs

Meaning of Inventory – Need for Material Inventory Control – Problems on Fixation of various Stock Levels – Determination of Economic Order Quantity (EOQ) – Pricing of Material Issues -Methods of Pricing of Material Issues -Problems on Pricing of Material Issues under First In First Out (FIFO), Last In First Out (LIFO), Base Stock Method using FIFO/LIFO.

UNIT 3:LABOUR COST&OVERHEAD COST 10 Hrs

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UNIT 4: OVERVIEW OF MARKETING 8 Hrs

Introduction, Market & Marketing, Modern definition of marketing. Orientation of Marketing, Core concepts of marketing, Scope of marketing, Importance of marketing-Selling v/s Marketing, Recent trends in marketing, Market Segmentation, Basis of market Segmentation, Benefits of market segmentation, Target market selection. Market target, Strategies, positioning strategies, marketing mix.

UNIT 5: INDUSTRIAL & RETAIL MARKETING 7 Hrs

Introduction to Industrial Market, Industrial Marketing System, Types of industrial Markets, Industrial Buyer Behavior, Retailing-Product Retailing, Retail strategy – Retail environment-legal, social, economic, technological issues.

UNIT 6: PROMOTION 7 Hrs

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Reference Books:

1. Cost Accounting by Az.harBasheer – PHI Learning.
2. Cost Accounting by R.S.N.Pillai and Bagavathi.V. – S Chand & Company Ltd.
3. Introduction to Cost Accounting by Dr.P.C.Tulsian – S Chand & Company Ltd
4. Cost Accounting by M.N.Arora – Himalaya Publishers.
5. Cost Accounting by Jain and Narang – Kalyani Publishers, New Delhi.
6. Cost Accounting by S.N.Maheswari – Sultan Chand and Sons, New Delhi.
7. Cost Accounting by Dr.Paramashivaiah
8. Cost Accounting by V.PrabhuDev -Himalaya Publishers.

Model Question Paper:

(CIE)

1. What is ‘Cost Sheet’? Write down the purposes of Cost Sheet.
2. Mr. Reddy completes his job in 15 hours for which time allotted is 20 hours. His hourly rate of pay is Rs.
3. Calculate the wages of the worker under – Halsey Premium Plan – Rowan Premium Plan

OR
A factory requires 1,500 units of an item per month, each costing Rs 27 The cost per Order is Rs 150 and the inventory carrying charges work out to 20 per cent of the Average Inventory. Find out the Economic Order Quantity

4. From the following particulars, prepare a Cost Sheet for the given period: Cost of Raw Materials Consumed Rs. 80,000 Direct Wages Rs. 50,000 Machine Hours Worked 10000 Hours Machine Hour Rate Rs. 2 per Hour Office and Administrative Overheads 20% on Works Cost Selling & Distribution Overheads Rs. 2 per unit Sold Units produced 10000 Units Units Sold 9000 Units Selling Price Rs. 25 per unit
5. Distinguish between Cost Accounting and Financial Accounting.

OR
Distinguish between Time Rate System and Piece Rate System of Wage Payment

Note: Internal choice may be given in each CO at the same cognitive level (CL).

Model Question Paper:

1. Part A Answer any SIX questions from a set of 9 Questions. Each question carries 5 Marks.
2. Part B Answer any FOUR questions
3. Part C Answer any TWO questions

PART-A

(Answer any SIX Questions from this Section)

1. Explain the Objectives of Cost Accounting.
2. Describe the limitations of Cost Accounting.
3. Briefly explain the various Elements of Cost.
4. Calculate the Cost of Raw Materials consumed / used from the given details:
1. Opening cost of Raw material Rs.48,000
2. Purchase of Raw materials during the year Rs.2,40,000
3. Freight, carriage paid on purchase of Materials Rs.4,000
4. Defective Materials returned to suppliers Rs.6,800
5. Closing stock of Raw Materials Rs.1,60,000
6. Materials sold (costing Rs.4,000) Rs.4,800
5. List out the functions of Stores Department.
6. Calculate the Maximum Stock level , Minimum Stock level from the following data:

Re Order Quantity: 1200 Units
Re Order Period: 4-6 weeks
Maximum Consumption: 300 Units per week
Minimum Consumption: 200 Units per week

7. Distinguish between Time Rate System and Piece Rate System of Wage Payment.
8. Mr. Chandru completes his job in 15 hours for which Time Allotted is 20 hours. His Hourly Rate of pay is Rs.
9. Calculate the wages of the worker under the following Methods:
1. Halsey Premium Plan
2. Rowan Premium Plan
10. Write the need for preparation of Reconciliation statement.

Part-B

Answer any four questions & each question carries Ten marks: 4X10=40

1. Distinguish between Cost Accounting and Financial accounting.
2. A manufacturing company manufacturers Magic Toys and its costing data and selling price for the half yearly ending 30th June 2016 were as follows:
1. Raw materials consumed Rs.60,000
2. Direct labour 1,000 hours at Rs.30 per hour
3. Labour Hour rate of overhead Rs.10 per hour
4. Administration Overheads: 20% on Works Cost
5. Selling cost Rs.2 per magic toy
6. No of magic toys produced: 15,000 Nos
7. No of magic toys sold 14,000No’s at Rs.15 each.

Prepare statement of cost and profit

3. The following information related to the consumption of chemical fora month of 4 weeks in shilpa industry:

Maximum usage -200 kgs. Minimum usage -160 kgs Reorder quantity -200 kgs Delivery period -1-3 weeks Calculate various levels of stocks.

4. In an engineering works the standard time for a job is 16hrs and basic wage is Re 1 hr. A bonus scheme instituted so that the worker is to receive his normal rate for hours actually worked and for the hours saved under rowan’s plan. Calculate the wages and effective rate of earning per hour. If job is completed
1. In 10 hours
2. In 14 hours
5. Discuss the reason for difference in profit or loss between Cost accounting and financial accounting.
6. Explain the concept of ‘Apportionment of Overheads’ and list out the various bases of Apportionment of Overheadswith examples.

Part -C

Answer any two questions: 2X15=30

1. The following is the summary of receipts andissues of a material in factory for the month of February 2015.
1. 1-2-15 Balance of 5000 kg at Rs 25 per kg.
2. 3- 2-15 issued on (job number 300) -700 kgs
3. 4- 2-15 issued on (job number 301) -1000 kgs
4. 10-2-15 received from supplier 2000 kgs at 25.0 per kg
5. 12-2-15 issued on (job number 302) -800 kgs.
6. 14-2-15 returned surplus material from job number 300 – 150 kgs
7. 16-2-15 issued on job number 303 -1800 kgs.
8. 20-2-15 received from supplier 2400 kgs at 27.5 per kg
9. 24- 2-15 issued on job number 304 -3040 kgs
10. 25- 2-15 received from supplier 3200 kgs at 25.0 per kg
11. 26- 2-15 issued on job number 305-1120 kgs
12. 27- 2-15 returned 120 kg of defective material to the vendor from the supplies on 20-2
13. 28-2-15 received from supplier 100 kg at Rs25 per kgs

The store verifier of the factory noted that on 15-2-15 there was a shortage of 50 kg and another 80 kgs on 27-2-15 Issues to be priced on the principal of LIFO. Prepare stores ledger from the above transaction.

2. The popular company Ltd. has 3 production dept. A, B, C and 1 service department D.

The actual costs for a period are as follows:

1. Rent and rates Rs 10000
2. Supervision Rs 10000
3. Repairs to plants 6000
4. Fire insurance on stock 5000
5. Depreciation of plant 4500
6. Power 9000
7. Employees liability for insurance 1500
8. Lighting 1200
9. The following information is available in respect of four departments.

(Dept A Dept B Dept C Dept D)

10. Area occupied (sqmts. 1500 1100 900 500
11. Number of employees 20 15 10 5
12. Direct wages 60000 40000 30000 20000
13. Value of plant 24000 18000 12000 6000
14. Value of stock 15000 9000 6000 –
15. HP of plant 24 18 12 6

Apportion the costs to the various departments on the most equitable basis. Find out the overhead recovery rates for each of the production department assuming that over heads are recovered as a percentage of direct wages. Allocate service department D’s costs to production department in the ratio of 1:1:3

3. From the following figures, prepare a Reconciliation Statement of Cost and Financial Accounts:
1. Net Profit as Per Financial Accounting Books 63,780
2. Net Profit as Per Cost Accounting Books 66,760
3. Factory Overhead Under-recovered in Cost Accounting Books 5,700
4. Administration Overhead Recovered in Excess 4,250
5. Depreciation Charged in Financial Accounting Books 3,660
6. Depreciation Recovered in Cost Accounting Books 3,950
7. Interest Received but not included in Cost Accounting Books 450
8. Income-tax provided in Financial Accounting Books 600
9. Bank Interest Credited in Financial Accounting Books 230
10. Stores Adjustment (Credited in Financial Accounting Books. 420
11. Depreciation of Stock charged in Financial Accounting Books 860
12. Dividend Appeared in Financial Accounting Books 1,200
13. Loss due to theft and pilferage provided only in Financial Accounting Books 260

For detail syllabus of all other subjects of BE Leather Tech, C15 regulation do visit Leather Tech 5 syllabus for C15 Regulation.

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