[Management Accounting Question Papers, Dibrugarh University, B.Com 5th Sem, General and Speciality, 2015]
Management Accounting Question Papers
2015 (November)
Commerce (General /Speciality)
Course Code: 503
Full Marks: 80
Pass Marks: 32
Time: 3 Hours
The figures in the margin indicate full marks for the questions
1. (a) Write True or False: 1x3=3
i. Management accounting deals only with the
information which is useful to the management.
ii.
P/V ratio can be improved by reducing the fixed
cost.
iii.
Cash Flow Statement is based upon accrual basis
of accounting.
(b) Fill in the
blanks: 1x5=5
i.
The difference between Actual Cost and Standard
Cost is known as ____.
ii.
Only ____ information is recorded in accounting.
iii.
Margin of safety can be improved by reducing the
____ cost.
iv.
Any transaction that increases working capital
is a ____ of fund.
v.
Repayment of borrowing causes cash ____.
2. Write short
notes on any four of the following: 4x4=16
a)
Limitations of management accounting.
b)
Cost-volume-profit analysis.
c)
Advantages of standard costing.
d)
Cash Flow Statement.
e)
Responsibility accounting.
f)
Assumptions of break-even analysis.
3. (a)
“Management accounting aims at providing financial results of the business to
the management for taking decisions.” Explain by bringing out the advantage of
management accounting. 11
Or
(b) Explain the
characteristic features of management accounting. What are the tools which make
it useful for the management? 4+7=11
4. (a) The
following information is given by XYZ Ltd. :
|
Selling price per unit
Variable cost per unit
Fixed cost
|
Rs.
10
6
24,000
|
You are required
to calculate –
i.
Break-even sales (in units);
ii.
Sales to earn a profit of 10% on sales;
iii.
New BEP, if selling price is reduced by 10%.
iv.
New selling price, if BEP is to be brought down
to 4800 units. 2+3+3+3=11
Or
(b) “Marginal
costing is a very useful technique to management for cost control, profit
planning and decision making.” Explain. 11
5. (a) A factory
is currently running at 50% capacity and produces 5000 units at a cost of Rs.
90 per unit as per details given below:
|
Raw materials –
Labour –
Factory overhead –
Administrative overhead –
The current selling price is Rs.
100 per unit.
|
Rs. 50
Rs. 15
Rs. 15 (Rs. 6 fixed)
Rs. 10 ( Rs. 5 fixed)
|
At 60% working,
raw material cost per unit increases by 2% and selling price per unit falls by
2%.
At 80% working,
raw material cost, per unit increases by 5% and selling price per unit falls by
5%.
Estimate profits
of the factory at 60% and 80% working and offer your comments. 9+3=12
Or
(b) What
do you mean by cash budget? What are its advantages? How is it prepared? 3+3+6=12
6. (a) X
Ltd. furnished the following particulars for the year 2014:
|
Actual output – 900 units
Budgeted output – 1000 units
Actual fixed overhead – Rs.
49,500
Budgeted fixed overhead – Rs.
50,000
Standard time per unit – 2 hours
Actual clock hours – 1900 hours
(including 200 hours as idle time)
|
You are
required to calculate the following variances: 2x5=10
i.
Overhead Cost Variance.
ii.
Overhead Volume Variance.
iii.
Overhead Capacity Variance.
iv.
Overhead Efficiency Variance.
v.
Overhead Idle Time Variance.
Or
(b) What
is standard costing? How would you distinguish it from budgetary control? Point
out the limitations of standard costing. 2+4+4=10
7. (a)
Following are the Balance Sheets of Tulsian Ltd. for the year ending on 31st
March, 2013 and 31st March, 2014:
|
Assets
|
31.03.2013
Rs.
|
31.03.2014
Rs.
|
|
Fixed Assets
10% Investment (long term)
Debtors
Stock
Cash
Underwriting Commission
Discount on Issue of
Debentures
|
10,20,000
60,000
80,000
3,80,000
1,20,000
5,000
15,000
|
12,40,000
1,60,000
1,50,000
3,70,000
3,60,000
6,000
4,000
|
|
|
16,80,000
|
22,90,000
|
|
Liabilities
|
31.03.2013
Rs.
|
31.03.2014
Rs.
|
|
Equity Share Capital
18% Preference Share
Capital
Profit & Loss A/c
Reserves
14% Debentures
Creditors
Bank Overdraft
Proposed Dividend
Provision for Tax
Provision for Doubtful
Debts
Unpaid Dividend
Unpaid Interest on
Debentures
|
6,00,000
4,00,000
1,00,000
1,20,000
2,00,000
40,000
60,000
1,20,000
20,000
20,000
-
-
|
8,00,000
2,00,000
4,00,000
1,40,000
3,00,000
1,50,000
50,000
1,50,000
40,000
30,000
20,000
10,000
|
|
|
16,80,000
|
22,90,000
|
Additional
Information:
i.
A machine costing Rs. 1,40,000 (depreciation
provided thereon Rs. 60,000) was sold for Rs. 50,000. Depreciation charged
during the year was Rs. 1,40,000.
ii.
An interim dividend @ 15% was paid on equity
shares. New shares and debentures were issued on 31.03.2014.
iii.
Tax paid during the year was Rs. 10,000.
iv.
On 31.03.2014, some investments were purchased
for Rs. 1,80,000 and some investments were sold at a profit of 20% on sale.
v.
Preference shares were redeemed on 31.03.2014 at
a premium of 5%.
You are required
to prepare Cash Flow Statement as per AS-3 (Revised) by indirect method. 12
Or
(b) Discuss the
importance of Fund Flow Statement. How do you determine whether a particular
change is in the nature of a source or of an application of fund? 8+4=12
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