Saturday, July 13, 2019

B.Com 3rd Year Question Papers (Distance): Management Accounting' 2018


2018
(July)
COMMERCE
Paper: 303
(Management Accounting)
Full Marks: 90
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. (a) Fill in the blanks:                                  1x5=5

1)         Management Accountant supplies information to the _______.
2)         _______ is the difference between Current Assets and Current Liabilities.
3)         Sales-Variable Cost = _______.
4)         Budget is a _______ expressed in monetary terms.
5)         Standard Cost is a _______ Cost.
(b) Write ‘True’ or ‘False’:                               1x5=5
1)         Management Accounting and Cost Accounting are synonymous.
2)         Cash Flow Statement is useful for short-term financial planning.
3)         Margin of Safety = Actual Sales – Standard Sales.
4)         Purchase Budget should be prepared by purchase manager.
5)         Standard costs are useful in planning and budgeting.
2. Write short notes on:                                          4x5=20
a)         Tools of Management Accounting.
b)         Investing Activities.
c)          Break-Even Analysis.
d)         Zero-Base Budgeting.
e)         Labour Variances.
3. (a) Define Management Accounting. Distinguish between Management Accounting and Financial Accounting.    3+9=12
Or
(b) Discuss the functions of Management Accounting useful in decision-making.     12
4. (a) What is Fund Flow Statement? What are its objectives? Distinguish between Fund Flow Statement and Cash Flow Statement.                                   2+4+6=12
Or
(b) The following are the summaries of the Balance Sheets of Everest Co. Ltd. as on 31.3.2014 and 31.3.2015:               
Liabilities:
31.3.2014
(Rs.)
31.3.2015
(Rs.)
Share Capital
Reserve Fund
Profit and Loss Account
Bank Loan
Creditors
Provision for Depreciation
2,00,000
50,000
30,500
70,000
1,50,000
30,000
2,50,000
60,000
30,600
-
1,35,200
35,000
Total
5,30,500
5,10,800
Assets:
Land and Building
Plant
Stock
Debtors
Cash
Bank

2,00,000
1,50,000
1,00,000
80,000
500
-

1,90,000
1,74,000
74,000
64,200
600
8,000
Total
5,30,500
5,10,800

Additional Information:
a)         Depreciation on Plant was Rs. 14,000 in 2014-15.
b)         Dividend was paid Rs. 20,000 in 2014-15.
c)          Income Tax Provision for the year was Rs. 25,000.
d)         A piece of land was sold during the year at cost.
Prepare a Statement showing Sources and Application of Fund and a Schedule of changes in working capital for the year 2014-15.                                           12
5. (a) “Marginal and Differential Costing can be used as a tool for management decision-making process.” Explain.        12
Or
(b) From the following particulars, calculate:                      3x4=12
1)         Contribution.
2)         P/V Ratio.
3)         Break-Even Point in units and in rupees.
4)         Determine the selling price unit if the Break-Even Point is brought down to 25,000 units.

Rs.
Fixed Expenses
Variable Cost per unit
Selling Price per unit
1,50,000
10
15

6. (a) What do you mean by Flexible Budget? Explain its objectives and advantages.  3+4+5=12
Or
(b) Prepare a Sales Overhead Budget from the estimates given below:                    12

Rs.
Salaries of Sales Department
Expenses Sales Department
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Counter Salesman Salaries
15,000
2,000
3,000
8,000

Commission to counter salesman at 1% on their sales
Travelling Salesman’s Commission at 10% on their sales and expenses at 5% on their sales
The sales during the period were estimated as follows:
Area
Counter Sales
(Rs.)
Travelling Salesman’s Sales
(Rs.)
I
II
III
1,00,000
1,50,000
2,00,000
20,000
30,000
15,000

7. (a) Define Standard Costing? Distinguish between Standard Costing and Budgetary Control.                  4+8=12
Or
(b) From the data given below, calculate all material variances:                                              12
Raw Materials
Standard
Actual
A
B
40 units @ Rs. 50 per unit
60 units @ Rs. 40 per unit
50 units @ Rs. 50 per unit
60 units @ Rs. 45 per units

-000-

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