Gauhati University Question Papers
MANAGEMENT ACCOUNTING (May-June'2017)
(MAJOR)
Full Marks: 80
Time: 3 hours
The figures in the
margin indicate full marks for the questions
1)
Management Accounting provides decision to the
management.
2)
Marginal cost comprises prime cost plus variable
overhead.
3)
A budget is a plan of action for a future
period.
4)
Standard Costing is a method of cost
ascertainment.
5)
Budgetary Control starts with budgeting and ends
with control.
(b) Fill in the blanks with appropriate words: 1x5=5
1)
Management Accountant is required to submit
_____ to the management on different aspects of a business.
2)
P/V ratio is also known as _____ ratio.
3)
A budget which consolidates the organisation’s
overall plan is called _____.
4)
Standard Costing _____ the variations of actual
costs from standard costs.
5)
Material usage variance = Material mix variance
+ _____.
(c) Answer the following questions: 2x5=10
1)
Mention two objectives of Management Accounting.
2)
Mention two features of Marginal Costing.
3)
Mention any two characteristics of good
budgeting.
4)
Indicate the industries where Standard Costing
system is suitably applied.
5)
Explain variance analysis.
2.
Answer the following questions: 5x4=20
1)
Why is the Management Accounting a separate
discipline other than Cost Accounting?
2)
Explain the role of computer in management
decision making process.
Or
What is ment by the term ‘Cost-Volume-Profit Analysis’?
3)
What is meant by Zero-Based Budget?
Or
Define ‘fixed budget’ and ‘flexible budget’.
4)
What is material cost variance? What rate its
different components?
3.
Describe the uses of accounting information for managerial decision making
purposes. 10
Or
“Management
Accounting is an integral part of the system of management control.” Explain
the various constituents of management control and point out the functions of
Management Accountant in relation thereto. 10
4.
What is meant by Budgetary Control? What are the essentials for success of a
Budgetary Control System? 10
Or
A
company is expecting to have Rs. 25,000 cash in hand on 1st April,
2016 and it required you to prepare cash budget for three months, April to
June, 2016. The following information is supplied to you:
|
Months
|
Sales
(Rs.)
|
Purchases
(Rs.)
|
Wages
(Rs.)
|
Expenses
(Rs.)
|
|
February
March
April
May
June
|
70,000
80,000
92,000
1,00,000
1,20,000
|
40,000
50,000
52,000
60,000
55,000
|
8,000
8,000
9,000
10,000
12,000
|
6,000
7,000
7,000
8,000
9,000
|
Other
information:
a)
Period of credit allowed by suppliers is two
months.
b)
25% of sales is for cash and the period of
credit allowed to customers for credit sales is one month.
c)
Delay in payment of wages and expenses is one
month.
d)
Income tax Rs. 25,000 is to be paid in June,
2016.
5.
“The technique of Marginal Costing can be a valuable aid to the management.”
Discuss. 10
Or
A
company sold in two successive periods 7,000 units and 9,000 units and has
incurred a loss of Rs. 10,000 and earned a profit of Rs. 10,000 respectively.
The selling price per unit is Rs. 100. You are required to calculate: 10
1)
P.V. ratio.
2)
The amount of fixed cost.
3)
Sales at break-even point.
4)
Sales required to earn a profit of Rs. 40,000.
6.
Explain the concept of “Standard Cost” and “Standard Costing” and outline the
primary objects of Standard Costing. 10
Or
The standard cost for a product is:
|
Time: 10 hours per
unit
Cost: Rs. 5 per hour
Actual performance
was: Production = 1,000 units
Hours taken – 10,400
hours.
Idle time – 400
hours.
Payment made – Rs.
56,160 @ Rs. 5.20 per hour.
|
From
the above particulars, you are required to calculate:
a)
Labour rate variance.
b)
Labour efficiency variance.
c)
Idle time variance.
d)
Labour cost variance.
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