Management Accounting Question Papers 2019Gauhati University Question Papers B.Com 5th SEM CBCS PatternPaper: 205 (A)(Accountancy Major)Full Marks – 80Time – Three Hours
The figures in the margin indicate full marks for the questions.
1. (a) State whether the following statements are true or false: 1x5=5
(i) In Management Accounting only those figures are used which can be measured in monetary terms.
Ans: False
(ii) In Management Accounting no emphasis is given to actual figures.
Ans: False
(iii) Fixed overhead is viewed as a product cost and is charged to product.
Ans: False, Fixed overheads are period cost
(iv) A flexible budget consists of a series of budgets for different levels of activity.
Ans: False
(v) Standard costing does not help in measuring efficiency.
Ans: False
(b) Fill in the blanks with appropriate word(s): 1x5=5
(i) Cost control is not possible in financial Accounting.
(ii) Contribution to Sales is called p/v ratio.
(iii) The excess of Actual Sales over sales at B.E.P is called margin of safety.
(iv) Budgetary control is a system of controlling cost.
(v) The difference between Actual Cost and Standard Cost is known as variance.
2. Answer the following questions: 2x5=10
(a) State two limitations of Management Accounting.
(b) Define “Marginal Costing".
(c) Mention two objectives of Budgetary Control.
(e) State two advantages of Standard Costing.
3. Answer the following questions: 5x4=20
(a) Explain briefly the scope of Management Accounting.
(b) What is B.E.P (Break Even Point)? Describe its importance.
Or
From the following information, calculate
(i) P. V. Ratio
(ii) Break Even Sales and M
(iii) Ascertain how much the value of sales is to be increased to reach Break Even Sales.
Sales Rs. 80,000
Fixed cost Rs. 36,000
Variable cost Rs. 54,000
(c) Briefly explain the advantages of “Zero Based Budgeting".
(d) Difference between fixed budget and flexible budget.
Or
Explain in brief the Managerial use of Variance Analysis.
4. “Management Accounting is the presentation of accounting information in such a way as to assist the management in the creation of policy and in the day to day operation of the undertaking”. Explain the statement. 10
Or
“The managerial objectives of accounting are to provide data to management in planning, decision making, coordinating and controlling operations”. Discuss. 10
5. “Marginal Costing technique is a valuable aid to management in taking many managerial decisions”. Explain the statement with reference to Managerial Application of Marginal Costing. 10
Or
You are given the following data: 2+2+2+2+2=10
|
Year |
Sales (Rs.) |
Profit (Rs.) |
|
2017 |
1,20,000 |
9,000 |
|
2018 |
1,40,000 |
13,000 |
Assuming that the cost structure and selling price remain unchanged in the two years, calculate:
(i) P. V. Ratio
(ii) Break Even Point (in sales)
(iii) Profit when sales are Rs. 1, 00,000
(iv) Sales required to earn a profit of Rs. 20,000
(v) Margin of safety in 2018.
6. What do you understand by the term “Budget”? Briefly explain the requisites for a successful Budgetary Control system. 3+7=10
Or
From the following data, forecast the cash position at the end of April, May and June 2018 of an organisation: 10
|
Months |
Sales(Rs.) |
Purchases(Rs.) |
Wage(Rs.) |
Sundry Expenses (Rs.) |
|
February March April May June |
1,20,000 1,30,000 70,000 1,16,000 85,000 |
80,000 78,000 1,00,000 1,03,000 80,000 |
10,000 12,000 8,000 10,000 8,000 |
7,000 9,000 5,000 10,000 6,000 |
Further information:
(i) 10% of sales is realised in the month of sale and the balance is realised equally in two subsequent months.
(ii) Creditors allow a credit of one month.
(iii) 20% of the wages of a month remains as arrear which is paid in the following month.
(iv) Sundry expenses are paid in the month itself.
(v) Income tax Rs. 20,000 and dividends Rs. 12,000 are payable in June.
(vi) Cash in hand as on 1st April, 2018 was Rs. 40,000.
7. What is the meaning and importance of Standard Costing? Discuss the preliminary steps for establishing a system of Standard Costing. 2+2+6=10
Or
The standard time and rate for unit component “A” are given below: 3+3+4=10
Standard hours per unit 15
Standard rate Rs. 4 per hour
The actual data and related information are as under:
Actual production 1,000 units +
Actual hours 15,300 hours
Actual rate Rs. 3.90 per hour
Calculate:
(i) Labour cost variance
(ii) Labour efficiency variance and
(iii) Labour rate variance.
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