2013
(August)
COMMERCE
Paper: 103
(Cost and Management Accounting)
Full Marks – 80
Time – Three Hours
The figures in the margin indicate full
marks for the questions.
1.
(a) “Cost Accounting is an unnecessary luxury for a business establishments.”
Do you agree with this statement? Discuss. 16
Or
(b)
What are the various techniques of cost control? Distinguish between cost
reduction and cost control?
10+6=16
2.
(a) From the following information, calculate the
1) Effective
kilometers per annum.
2) Effective
passenger kilometers per annum.
3) Total
cost of fuel.
4) Cost
of fuel per kilometer.
Distance of one-way
route
Round trips per day
Days operated in a
month
Seating capacity
Seating capacity
occupied
Fuel consumption
Rate of fuel
|
= 40 kilometer
= 3
= 25
= 50 passengers
= 50%
= 1 litre per 6
kilometer
= Rs. 15 per litre
|
(b)
A transistor manufacturer who commenced his business on 1st April
2011 supplies you with the following information and asks you to prepare a
statement showing the profit per transistor sold. 16
Wages
and materials are to be charged at actual cost, works overhead at 75% of wages
and office overhead at 30% of works cost. Number of transistors manufactured
and sold during the year was 540.
Other
particulars are –
Materials per set
Wages per set
Selling price per
set
|
= Rs. 240
= Rs. 80
= Rs. 600
|
If
the actual works expenses were Rs. 32,160 and office expenses were Rs. 61,800,
prepare a Reconciliation Statement.
3.
(a) What are the objectives of Financial Statement Analysis? Distinguish
between Analysis and Interpretation of Financial Statements? 10+6=16
Or
(b) What are the Trend Ratios? Explain the techniques of
computing Trend Ratios. 6+10=16
4.
(a) From the following information, prepare a summarised Balance Sheet as on 31st
March 2010 (Your workings should form part of the answer). 16
|
Rs.
|
1)
Working capital
2)
Reserve and surplus
3)
Bank overdraft
4)
Fixed assets / proprietor ratio
5)
Current ratio
6)
Liquid ratio
|
1,20,000
80,000
20,000
0.75
2.50
1.50
|
Or
(b)
Discuss the ratios which assess the company’s debt capacity. 16
5.
(a) XYZ Ltd. sells its products on a gross profit of 20% on sales. The
following information is extracted from its annual accounts for the year ended
31st March 2010: 16
|
Rs.
|
Sales at 3 months
credit
Raw materials
Wages paid – 15 days
in arrears
Manufacturing
expenses paid one month in arrear
Administrative
expenses – one month in arrears
Sales promotion
expenses payable half yearly in advance
|
40,00,000
12,00,000
9,60,000
12,00,000
4,80,000
2,00,000
|
The
company enjoys one month credit from the suppliers of raw materials and
maintains 2 months stock of raw materials and one and half month finished
goods. Cash balance is maintained at Rs. 1,00,000 as a precautionary balance,
Assuming a 10% margin, find out the working capital requirements of XYZ Ltd.
Or
(b)
Define ‘operating cycle concept’. What are the important factors which
determine the working capital of a business? 6+10=16
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