[Management Accounting Question Papers, Dibrugarh University, B.Com 5th Sem, General and Speciality, 2014]
Management Accounting Question Papers
2014 (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: 1x4=4
a.
Profit changes in the same proportion of the
changes in contribution.
b.
A system of budgetary control cannot be used in
an organization where standard costing is in use.
c.
Cash Flow Statement is a statement of sources
and application of cash during a particular period of time.
d.
In management accounting, only those figures are
used which can be measured in monetary terms.
(b) Fill in the blanks: 1x4=4
a.
P/V
ratio exhibits the percentage of contribution included in _____.
b.
Repayment
of borrowing causes cash _____.
c.
Accounting
information is _____ to make it useful.
d.
_____
budget is a summary of all functional budgets.
2. Write short notes on any four of the following: 4x4=16
a)
Absorption costing
b)
Zero-base budgeting
c)
Change in product mix
d)
Overhead
e)
Pricing
f)
Make or buy decision
3.
(a) “Management Accounting is nothing more than the use of financial
information for management purposes.” Explain this statement and clearly
distinguish between Financial Accounting and Management Accounting. 4+7=11
Or
(b) Explain the role of management accountant in a business
enterprise. 11
4. (a) The following are the Condensed Balance Sheet of P
Ltd. at the end of 2012 and 2013:
|
Capital and Liabilities
|
2012 (Rs.)
|
2013 (Rs.)
|
|
Equity
Share Capital
|
2,50,000
|
3,50,000
|
|
Reserve
and Surplus
|
1,50,000
|
1,40,000
|
|
6%
Debenture
|
50,000
|
20,000
|
|
Sundry
Creditors
|
79,000
|
83,000
|
|
Outstanding
Expenses
|
7,000
|
15,000
|
|
Provision
for Depreciation
|
80,000
|
1,00,000
|
|
Provision
for Income Tax
|
30,000
|
25,000
|
|
Proposed
Dividend
|
37,500
|
52,500
|
|
Provision
for Bad Debts
|
13,000
|
18,000
|
|
|
6,96,500
|
8,03,500
|
|
Assets
|
2012 (Rs.)
|
2013 (Rs.)
|
|
Land
and Building
|
1,25,000
|
1,25,000
|
|
Plant
and Machinery
|
2,40,000
|
3,60,000
|
|
Debenture
Issue Expenses
|
10,000
|
3,000
|
|
Preliminary
Expenses
|
15,000
|
12,000
|
|
Stock
|
1,90,000
|
1,93,000
|
|
Debtors
|
60,000
|
90,000
|
|
Bills
Receivable
|
26,000
|
15,000
|
|
Cash
in Hand and at bank
|
30,500
|
5,500
|
|
|
6,96,500
|
8,03,500
|
Additional Information:
(i) Income tax paid in 2013 was Rs. 35,000.
(ii) An old machinery was sold for Rs. 44,000 the cost and written down
value of which were Rs. 60,000 and Rs. 40,000 respectively.
(iii) Bonus share at 2 for every 3 equity shares were issued out of
accumulated reserve and surplus.
(iv) Out of the proposed dividend for 2012, only Rs. 30,000 was paid in
2013, and in addition to that in interim dividend for Rs. 25,000 was paid in the
same year.
Prepare a Fund Flow Statement and Statement of Change in Working Capital
of the company for the year that ended on 31st December, 2013. 12
Or
(b) Discuss
briefly the classification of activities as prescribed in AS-3 for preparation of
Cash Flow Statement and give three examples of each such class of activities.
5. (a) (i) A company produces a single product which sells
of Rs. 20 per unit. The variable cost is Rs. 15 per unit and the fixed overhead
for the year is Rs. 6, 30,000. You are
required to calculate:
(1) the sales value needed to earn a profit of 10% on sales;
(2) the sales price per unit to bring the BEP down to 120000 units. 3+4=7
(ii) The ratio variable cost of sales in given to be 70%.
The break-even point occurs at 60% of capacity sales. Find the capacity sales
when fixed costs are Rs. 1, 50,000 and
also determine profit at 80% sales. 2+2=4
Or
(b) Define marginal costing and discuss its contributions to
the management in decision-making. 5+6=11
6. (a) From the following information relating to 1987 and
conditions expected to prevail in 1988, prepare a budget for 1988. Assume the
rate of depreciation as 10%: 11
|
1987
|
Actual
Sales
– Rs. 1,00,000 (40000 units)
Raw Materials
– Rs. 53,000
Wages
– Rs. 11,000
Variable
Overheads – Rs. 16,000
Fixed
Overheads – Rs. 10,000
|
|
1988
|
Prospects
Sales
– Rs. 1,50,000 (60000 units)
Raw
Materials – 5% price increase
Wages
:
10%
increase in wage rates
5%
increase in productivity
Additional
Plant :
One
lathe – Rs. 25,000
One
drill – Rs. 12,000
|
Or
(b) Explain the objects and limitations of budgetary
control. 5+6=11
Also Read: Management Accounting Question Papers
7.
(a) The standard material required to manufacture one unit of product X is 10
kg and the standard price per kg of material is Rs. 2.50. The cost accounts
records however reveal that 11500 kg. of materials costing Rs. 27,600 were used
for manufacturing 1000 units of product X. Calculate material variances. 11
Or
(b) Write a not on the advantages and application of
standard costing. 6+5=11
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