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Wednesday, February 13, 2019

Gauhati University Question Papers:MANAGEMENT ACCOUNTING (MAJOR) (May-June'2015)


Gauhati University Question Papers
MANAGEMENT ACCOUNTING (May-June'2015)
(MAJOR)
Full Marks: 80
Time: 3 hours
The figures in the margin indicate full marks for the questions 1. (a) State whether the following statements are True or False:                                    1x5=5

1)         Management Accounting deals only with that information which useful to the management.
2)         Profit volume ratio can be improved by reducing the fixed cost.
3)         Financial Accounting is the base of Management Accounting.
4)         Flexible Budgets change with the change in level of activity.
5)         Control in Standard Costing is achieved by variance analysis.
(b) Fill in the blank with appropriate word/words:                                        1x5=5
1)         Excess of contribution over fixed cost is known as _____.
2)         A budget which consolidates the organisations overall plan is called _____ budget.
3)         Management Accounting is the accounting for _____ management.
4)         Standard cost is a _____ cost.
5)         Profit volume ratio is also known as _____ ratio.
(c) Write brief answers to the following in about 50 words each:                            2x5=10
1)         What are the purposes of standard costing?
2)         Mention and explain any two of the objectives of Management Accounting.
3)         What are the features of Marginal Costing?
4)         Explain the objectives of Budgetary Control.
5)         What are the components of material cost variance?
2. Write short notes on any four of the following:                                             5x4=20
a)         Nature of Management Accounting.
b)         Meaning of marginal cost and marginal costing.
c)          Five advantages of standard costing.
d)         Characteristics of good budgeting.
e)         Features of marginal costing.
f)          Distinction between budget and standard.
3. Why is Management Accounting treated as a separate discipline other than Financial Accounting?                       10
Or
Explain the role of computer in managerial decision making process.                                   10
4. Following are the information obtained from the books of Assam Ltd.:                              2x5=10
Fixed cost
Sales
Variable cost
Rs. 1,60,000
Rs. 100 per unit
Rs. 90 per unit
Calculate:
a)         P/V ratio.
b)         Break even sale.
c)          Break even units.
d)         Sales to earn a profit of Rs. 40,000.
e)         Profit when sales are Rs. 20,00,000.
Explain the uses of Marginal Costing by Management in decision making process.
5. From the following particulars, compute (a) Labour Cost Variance, (b) Labour Rate Variance, (c) Labour Efficiency Variance, (d) Idle time variance and (e) Managerial uses of such Variances:                                          2x5=10
Standard hours
Standard wage rate
Actual hours
Actual wage rate
Time lost due to machine breakdown is 300 hours.
5,000
Rs. 4 per hour
6,000
Rs. 3.50 per hour

Or
Explain the factors which are considered in establishment of standard cost.                                     10
6. A company is expected to have Rs. 47,500 cash in hand on 1st April, 2015. From the following information, prepare a cash budget for the three months from April, 2015 to June, 2015.                                                       10
Months
Sales
(Rs.)
Purchases
(Rs.)
Wages & Other Expenses
(Rs.)
February
March
April
May
June
90,000
1,00,000
1,20,000
1,35,000
1,40,000
45,000
48,000
55,000
60,000
63,500
27,000
28,000
30,000
32,000
33,000
Other information:
1)         Period of credit allowed by suppliers is 2 months.
2)         30% of sales is for cash and period of credit allowed to customers is 1 month.
3)         Delay in payment of wages and other expenses is 1 month.
4)         Income tax of Rs. 37,500 is due to be paid in June, 2015.
5)         Plant has been ordered to be received and paid in May, 2015 for replacement of old one in the same month. The new plant under order will cost Rs. 90,000, while the resale value of old one has been agreed upon and to be received for Rs. 17,500
Or
“Budgetary Control improves planning, aids in co-ordination and helps in having comprehensive control.” – Explain in relation to application of Budgetary Control.                                                   10

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