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Management Accounting PAPER

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208 views7 pages

Management Accounting PAPER

Uploaded by

temailgg
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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BCOM 3004

B.Com. DEGREE EXAMINATION, JANUARY 2022.

Third Year/Non-Semester

Commerce

MANAGEMENT ACCOUNTING

Time : Three hours Maximum : 100 marks

PART A — (5  8 = 40 marks)

Answer any FIVE out of Eight of the questions.

1. Distinguish between management accounting and


cost accounting.

2. What are the characteristics of Management


Accounting?

3. Calculate Gross Profit Ratio from the following


figures :
Particulars Amounts
(Rs.)
Sales 10,00,000
Sales returns 1,50,000
Opening stock 2,00,000
Purchases 6,50,000
Purchases returns 1,50,000
Closing stock 70,000
4. 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 11,500 kg.
of materials costing Rs. 27,600 were used for
manufacturing 1,000 units of product X. Calculate
material variances.

5. From the following information relating to


JBM Ltd., you are required to find out

(a) P/V ratio

(b) Break even point

(c) Profit

(d) Margin of safety

(e) volume of sales to earn profit of Rs. 6,000

Rs.

Total fixed costs 4,500

Total variable costs 7,500

Total sales 15,000

2 BCOM 3004
6. Prepare a production budget from the following
information :
Product Estimated stock on Estimated sales Desired
1.1.2014 (Units) during Jan to closing
March 2014 stock
(Units) 313.2014
(Units)
R 2000 10000 3000
S 3000 15000 5000
U 4000 13000 3000
P 3000 12000 2000

7. Prepare the Statement of Changes in Working


Capital from the following Balance Sheet:
Liabilities 2017 2018 Assets 2017 2018
Rs. Rs. Rs. Rs.
(000s) (000s) (000s) (000s)
Equity Capital 500 500 Fixed Assets 600 700
Debentures 370 450 Long Term Investment 200 100
Tax Payable 77 43 Work in Progress 80 90
Creditors 96 192 Stock 150 225
Interest Payable 37 45 Debtors 70 140
Dividend Payable 50 35 Cash 30 10

8. What is ‘Funds Flow Statement’? Explain its


various uses.
3 BCOM 3004
PART B — (4 × 15 = 60 marks)

Answer any FOUR out of Six of the questions.

9. Explain the advantage and limitations of


management accounting.

10. The standard cost of a chemical mixture is as


under :
8 tons of material A at Rs. 40 per ton 12 tons of
material B at Rs. 60 per ton Standard yield is
90% of output Actual cost for a period is as under :
10 tons of material A at Rs. 30 per ton 20 tons of
material B at Ks. 68 per ton Actual yield is
26.5 tons.
Compute all materials variances.

11. From the following Balance Sheet Prepare the


Fund Flow Statement :
Liabilities 2017 2018 Assets 2017 2018
Rs. Rs. Rs. Rs.
(000s) (000s) (000s) (000s)
Equity Capital 300 400 Buildings 200 170
Redeem Pref. Goodwill 115 90
Shares 150 100 Plant 80 200
General Reserve 40 70 Stock 77 109
Creditors 55 83 Debtors 160 200

4 BCOM 3004
Liabilities 2017 2018 Assets 2017 2018
Rs. Rs. Rs. Rs.
(000s) (000s) (000s) (000s)
Profit & Loss 30 48 Cash 15 10
Proposed Dividend 42 50 Bank 10 8
Bills Payable 20 16 Bills
Provision Tax 40 50 Receivable 20 30
677 817 677 817
Additional Information :
(a) Depreciation of Rs. 10,000 and Rs. 20,000
have been charged on plant and Buildings
respectively
(b) A Dividend of Rs. 20,000 has been paid during
the year
(c) Income tax of Rs. 35,000 has been paid during
the year

12. Prepare a flexible budget for overheads on the


basis of the following data. Ascertain overheads
rates at 50%, 60% and 70% capacity.
Rs.
Indirect material 6,000
Indirect labour 18,000
Semi-variable
Overheads Electricity 30,000
(40% fixed 6o% variable)
5 BCOM 3004
Repairs
(80% fixed 20% variable) 3,000
Fixed overheads
Depreciation 16,500
Insurance 4,500
Salaries 15,000
Total overheads 93,000
Estimated direct
Labour hours 1,86,000

13. The Ratio relating to Metro Ltd. Are given as


follows :
Gross Profit Ratio 30%
Stock Velocity 6 moths
Debtors Velocity 3 months
Creditors Velocity 3 months
Gross profit for the year ending Dec 31, 2014
amount to Rs. 1,20,000 Closing stock is equal to
opening stock
Find out :
(a) Sales
(b) Closing Stock
(c) Debtors
(d) Creditors.
6 BCOM 3004
14. From the following information calculate Net
Present Value of the two projects and suggest
which of the two projects should be accepted :
Project X Project Y
Rs. Rs.
Investment 50,000 80,000
Scrap value 1,000 2,000

Year 1 Year 2 Year 3 Year 4 Year 5


Project X 15,000 20,000 20,000 13,000 12,000
Project Y 30,000 40,000 35,000 32,000 12,000
PV factor @ 8% 0.926 0.857 0.794 0.735 0.681

————————

7 BCOM 3004

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