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Dthm 0251: Introduction To Costing Question Paper
Dthm 0251: Introduction To Costing
Course:Diploma In Tourism And Hospitality Management
Institution: Chuka University question papers
Exam Year:2013
CHUKA
UNIVERSITY
UNIVERSITY EXAMINATIONS
EXAMINATION FOR THE AWARD OF
DIPLOMA IN TOURISM AND HOSPITALITY MANAGEMENT
DTHM 0251: INTRODUCTION TO COSTING
STREAMS: DTHM TIME: 2 HOURS
DAY/DATE: MONDAY 12/8/2013 11.30 AM- 1.30 PM
INSTRUCTIONS:
Answer Question ONE and any other TWO
QUESTION ONE
(a) In a restaurant, outline the seven stages of the food flow process from the actual purchasing of food items to how they are served to customers. [3 Marks]
(b) Controlling portions is very important for a restaurant to meet its standard food cost.
(i) State how portions can be controlled. [2 Marks]
(ii) Mention five tools that are essential for accurate portion control. [2 Marks]
(c) Briefly discuss the basic cost elements. [6 Marks]
(d) Classification of cost means the grouping of costs according to their common characteristics. Discuss various bases of cost classification. [10 Marks]
(e) Non-manufacturing costs are costs incurred by all activities that support the production of goods and services. Discuss the elements of non-manufacturing costs. [7 Marks]
QUESTION TWO
(a) Purchase control is exercised to ensure that goods are purchased at right time, right quality and in right quantity. The purchasing policy of an organization should be helpful to achieve several objectives. Explain these objectives. [4 Marks]
(b) Write short notes on the following
(i) Letter of inquiry
(ii) Quotations
(iii) The purchase order. [6 Marks]
(c) Material control is the act of ensuring that the acquisition, storage, handling and usage of all types of materials are fully controlled at all times. Explain the main aspects of material control. [6 Marks]
(d) Materials are issued by the store keeper only on the presentation of an authorized document. Different a material requisition note and material issue note. [4 Marks]
QUESTION THREE
The following is an extract from stores ledger cards.
Receipts Issues Balances
Date Qty Price Value Qty Price Value Qty Value
Shs Shs Shs Shs Shs
Mar 1 200 4.50 900 200 900
Mar 10 400 6.00 2,400 600 3,300
Mar 15 400 7.50 3,000 1,000 6,300
Mar 25 600 ? ?
Required:
Under the following different methods, calculate the total issue of the March 25 issue of 600 units, showing your calculations for the price as well as the total value
(i) Simple Average
(ii) Weighted Average
(iii) FIFO
(iv) LIFO [20 Marks]
QUESTION FOUR
(a) Costing profit and financial profit do not agree in most of the cases they are reconciled at the end of the year. There are normally four ledgers in costing department. Explain them clearly. [4 Marks]
(b) Explain two basic accounting systems for costs [4 Marks]
(c) Explain the process of invoice processing and receiving. [6 Marks]
(d) On each case show the double entries made to the wage accounts. [6 Marks]
(i) Wages paid to an office staff
(ii) Wages paid to a sales staff
(iii) Indirect wages paid
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