Management Accounting Question Paper 2021
[Assam University B. Com 6th Sem Question Papers]
COMMERCE (6th Semester)
Course No.: COMDSE-601T (Management Accounting)
Full Marks: 70
Pass Marks: 28
Time: 3 hours
The figures in the margin indicate full marks for the questions
SECTION – A
Answer any twenty of the following as directed: 1 x 20=20
1. Define management accounting.
2. What do you mean by cost management?
3. State any two areas of cost management.
4. State any one essential for success of cost reduction programme.
5. State any one cost control technique.
6. State any one technique of management accounting.
7. State any one characteristic of management accounting.
8. State any one objective of management accounting.
9. Define standard costing.
10. What do you mean by variance?
11. What is material cost variance?
12. What is budgeting?
13. Write the formula of idle time variance.
14. Write one difference between standard cost an estimated cost.
15. What is sales variance?
16. State any one objective of standard costing.
17. What is contribution?
18. What is marginal costing?
19. What do you mean by semi-variable cost?
20. Complete the formula: Profit Margin of safety (Rs.) x ...
21. What is P/V ratio?
22. State one factor which you should take into consideration for deciding on a proposal to make/or buy a product.
23. What is product mix?
24. What is differential cost?
25. What is profit center?
26. What is responsibility accounting?
27. State any one feature of responsibility accounting.
28. What is transfer pricing?
29. State any one technique of divisional performance measure.
30. What is economic value added (EVA)?
31. State any one objective of EVA.
32. What is responsibility center?
33. What is BEP?
34. Explain the term 'cost center'.
35. What do you mean by overhead?
36. How is contribution calculated?
37. Write at least two steps of responsibility accounting.
38. What is cost reduction?
39. Budgetary control is a controlling _______. (Fill in the blank)
40. Zero-based budgeting overcomes the weaknesses of conventional budgeting. (Write True or False)
SECTION – B
Answer any five of the following questions: 2 x 5=10
41. Distinguish between cost control and cost management.
42. State any two limitations of management accounting.
43. State any two differences between budgetary control and standard costing.
44. What is functional budget?
45. State any two limitations of budgetary control.
46. Mention the areas where standard costing is applicable.
47. What is break-even analysis?
48. State any two features of absorption costing.
49. Distinguish between absorption costing and marginal costing.
50. Distinguish between financial and non-financial measures in responsibility accounting.
SECTION – C
Answer any five of the following questions: 8 x 5=40
51. Distinguish between cost accounting and management accounting.
52. Discuss the scope of management accounting.
53. Discuss the objectives and importance of budgetary control.
54. State the formulae of labour variances.
55, "Responsibility accounting is an important device for control." Discuss.
56. Discuss various steps involved in responsibility accounting.
57. A factory currently working at 50% capacity and produces 10,000 units at a cost of Rs. 180 per unit as detailed below:
Materials = Rs. 100
Labour = Rs. 30
Factory overhead = Rs. 30 (Rs. 12 fixed)
Administrative overhead = Rs. 20 (Rs. 10 fixed)
The current selling price is Rs. 200 per unit. 60% working, materials per unit increases by 2% and selling price per unit falls by 2%. 80% working, materials 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.
58. Profit = Rs. 200, Sales = Rs. 2,000, Variable cost 75% of sales.
(a) Calculate break-even sales.
(b) What should be the sales value to earn a profit of Rs. 500?
59. The Hero Cycle Ltd. manufactures a number cycle parts. The cost per unit of part No.-1845 is as follows:
|
Rs. |
|
|
Materials Labour (25% fixed) Expenses: Variable Fixed |
3.00 2.00 1.00 1.50 |
|
Total Cost |
7.50 |
The company is informed by an outside firm that the part can be supplied by it at Rs. 6, quality and regular suppliers guaranteed. The present consumption and production is 50,000 units per annum. Do you recommend that the production be stopped and the part purchased?
Will your answer be different, if the men and plant required for making part No-1845 can be used to turn out a defence item for which a part of Rs. 4.25 is offered, materials being supplied by the government?
60. The following data are available from the records of XYZ., where standard costing is followed:
|
Actual output in the month of April 2021 – 52,000 units. Actual wages paid – Rs. 1,25,000. Number of days worked in April 2021 – 25 days. Idle time paid and included – above 1 day. Number of workers – 100. Standard wages rate – Rs. 40 per day. Standard daily output per worker – 20 units. |
Calculate –
(a) labour cost variance;
(b) labour efficiency variance;
(c) labour idle time variance;
(d) labour rate variance.
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