[Management Accounting Question Papers, Dibrugarh University, B.Com 5th Sem, General and Speciality, 2013]
Management Accounting Question Papers
2013
(November)
Commerce
(General /Speciality)
Course
Code: 503
Full
Marks: 80
Pass
Marks: 32
Time:
3 Hours
1. (a) write true or false: 1x4=4
(i)
At break-even point, the company earns only a
marginal profit.
(ii)
Depreciation of machinery is a source of funds.
(iii)
The different between actual cost and standard
cost is known as differential cost.
(iv) Budgetary
control is a system of controlling cost.
(b) Fill in the blanks: 1x4=4
(i)
Standard cost is the ___________ cost.
(ii)
In marginal costing system, fixed cost is
considered as _______ cost.
(iii)
Income from investment is a cash flow from
______ activities.
(iv) A
budget manual spells out ___ of various executives concerned with budget.
2. Write short notes on : 4x4=16
(i)
Limitation of Management Account
(ii)
Responsibility Accounting
(iii)
Break-even Analysis
(iv) Variance
Analysis
3. (a) “Management Account has
been evolved to meet the need of management.” Explain this statement.
Or
(b) Discuss, in detail, the
functions of Management Accounting.
4. (a) The following information
is given by Bharat Ltd:
Profit: Rs.
12000
Fixed Cost: Rs.
24000
Marginal of
Safety: Rs. 30000
You are required to calculate the
following:
(i)
Profit volume ratio
(ii)
Break even sales and actual sales
(iii)
Sales to earn a profit of 10% on sales.
(iv) New
break-even point, if variable cost is to be increased by 25%.
Or
(b) “ Marginal costing is a very
useful technique to management for cost control, profit planning and decision
making.” Explain.
5. (a) The following information
of sales has been made available from the accounting records of Gama
Engineering Company Ltd. For the last six months of 2011 and for January, 2012
only in respect of product X produced by it. The units sold in different months
are as follows:
July, 2011 - 2200
August, 2011 - 2200
September, 2011
- 3400
October, 2011 - 3800
November, 2011 -
5000
December, 2011 -
4600
January, 2012 - 4000
There will be no work-in-progress
at the end of any month Finished units equal to half the sales for the next
months will be in stock at the end of every month (including June, 2011) Budgeted
production and production cost for the year ending December, 2011 are as
follows:
Production
(units): 44000
Direct material
per unit: 10
Direct wages per
unit: 4
Total factory
overhead apportioned: 88000
It is required to prepare Production
budget for the last six months of 2011 and Production cost budget for the same
period.
Or
(b) What do you mean by budgetary
control? Explain the advantages of this system.
6. (a) The standard cost of a
channel mixture is as under:
60 kg of
material X at Rs. 20 per kg
40 kg of
material Y at 30 per kg
A standard loss of 10% of input
is expected in production.
The cost records for a period
showed the following usage:
110 kg of
material X at Rs. 18 per kg
90 kg of
material Y at Rs. 32 per kg
The quantity produced was 182 kg
of good products. Calculate the following;
(i)
Material Cost Variance
(ii)
Material Price Variance
(iii)
Material Usage Variance
(iv) Material
Mix Variance
(v)
Material Yield Variance
Or
(b) What is standard costing? How
does it help in keeping control over cost? Point out its limitations.
7. (a) The balance Sheet of good
Luck Co. Ltd as on 01.01.2012 and 31.12.2012 were as follows:
|
Liabilities
|
1.1.2012
|
31.12.2012
|
Assets
|
1.1.2012
|
31.12.2012
|
|
Share Capital
Long-term Debts
Retained Earnings
Accumulated Depreciation
Sundry Creditor
|
50000
14000
28000
21000
2000
|
5300
13000
37000
25000
21000
|
Cash
Account Receivables
Invenstories
OtherCurrent Assets
Fixed Assets
|
20000
24000
31000
8000
50000
|
25000
27000
32000
7000
58000
|
|
133000
|
149000
|
133000
|
149000
|
Additional information:
(i)
Fixed Assets costing Rs. 12000 were purchased
during 2012 for cash
(ii)
Fixed Assets (original cost Rs. 4000,
accumulated depreciation Rs. 15000) were sold at book value
(iii)
Depreciation for the year 2012 amounted to Rs.
5500, which has been debited to Profit & Loss A/C
(iv) During
2012 dividend paid 3000
(v)
You are required to prepare Cash Flow Statement
as per AS-3 (Revised).
Or
(b) What is Funds Flow Statement?
Explain its managerial use.
Also Read: Management Accounting Question Papers Non CBCS Pattern
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