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Cost and Management Accounting Assignment

The document outlines the internal assignment for the Cost & Management Accounting course at NMIMS, applicable for the June 2025 examination, with a total of 20 marks. It includes instructions for answering the questions, emphasizing individual work, and the importance of original responses. The assignment consists of calculations related to labor costs and overheads, as well as theoretical questions on inventory systems and cost valuation methods.

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Vipul Pal
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61 views2 pages

Cost and Management Accounting Assignment

The document outlines the internal assignment for the Cost & Management Accounting course at NMIMS, applicable for the June 2025 examination, with a total of 20 marks. It includes instructions for answering the questions, emphasizing individual work, and the importance of original responses. The assignment consists of calculations related to labor costs and overheads, as well as theoretical questions on inventory systems and cost valuation methods.

Uploaded by

Vipul Pal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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NMIMS Centre for Distance and Online Education (NCDOE)

Course: Cost & Management Accounting

Internal Assignment Applicable for Jun 2025 Examination

Assignment Marks: 20

Instructions

● All Questions carry equal marks

● All Questions are compulsory

● All answers to be explained in not more than 1000 words for question Q1 and for question Q2(A)
and Q2(B) in not more than 500 words for each subsection. Use relevant examples,illustrations as
far as possible

● All answers to be written individually. Discussion and group work is not advisable.

● Students are free to refer to any books/reference material/website/internet for attempting their
assignments, but are not allowed to copy the matter as it is from the source of reference.

● Students should write the assignment in their own words. Copying of assignments from other
students is not allowed

● Students should follow the following parameter for answering the assignment questions

For Theoretical Answer For Numerical Answer


Assessment Parameter Weightage Assessment Parameter Weightage
Introduction 20% 20%
Understanding and usage
60%
Concepts and Application of the formula
related to the question Procedure / Steps 60%
20% 20%
Conclusion Correct Answer &
Interpretation

PLEASE NOTE: This assignment is application based, you have to apply what you have
learnt in this subject into real life scenario. You will find most of the information through
internet search and the remaining from your common sense. None of the answers appear
directly in the textbook chapters but are based on the content in the chapter

Page 1 of 2
NMIMS Centre for Distance and Online Education (NCDOE)

Course: Cost & Management Accounting

Internal Assignment Applicable for Jun 2025 Examination

Q1 ABC Manufacturing Ltd. produces a single product and operates a factory where both
direct labor costs and overhead costs are incurred. The company provides the
following data for February:
- Labour Costing Data:Total direct wages paid: Rs. 50,000Number of direct
labor hours worked: 10,000 hoursOvertime premium included in wages:
$2,000Employer’s contribution to benefits (social security, insurance, etc.): 10%
of direct wages
- Overhead Costing Data:Total factory overhead costs: $40,000Overheads are
absorbed based on direct labor hours
Required:
1. Calculate the total direct labor cost, considering the employer’s contribution.
2. Compute the direct labor cost per hour.
3. Determine the overhead absorption rate per labor hour.
4. If a job requires 50 labor hours, calculate the total labor and overhead cost
assigned to the job.
(10 Marks)

Q2 (A) Elaborate on the implementation of a Just-in-Time (JIT) inventory system impact the
material cost control process in a manufacturing company and explain its importance.
(5 Marks)

Q2 (B) Analyze how the method of valuing work-in-progress (prime cost vs. works cost)
influences the final cost of goods sold and the financial reporting of a manufacturing
company.
(5 Marks)

***********

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