Exam Details
Subject | management accounting – ii | |
Paper | ||
Exam / Course | m.com. | |
Department | ||
Organization | solapur university | |
Position | ||
Exam Date | March, 2018 | |
City, State | maharashtra, solapur |
Question Paper
M.Com. (Semester IV) (CBCS) Examination Mar/Apr-2018
MANAGEMENT ACCOUNTING II
Time: 2½ Hours
Max. Marks: 70
Instructions: All questions are compulsory. Figures to the right indicate full marks.
Q.1
Choose the correct alternative:-
14
The difference between the selling price and the variable cost is called
Marginal cost
Fixed cost
Prime cost
Contribution
The ratio between contribution and sales is called
Contribution ratio
P/V ratio
Sales ratio
Profit ratio
Predetermined cost is called
Budget cost
Actual cost
Standard cost
Historical cost
If the actual cost is less than the standard cost, it is known as
Unfavorable variance
Favorable variance
Cost centre
Cost unit
The difference between the standard cost of material and actual cost of material is called
Labour cost variance
Material cost variance
Sales variance
Material quantity variance
The difference between the budgeted fixed overhead and actual fixed overhead is called
Expenditure variance
Variable overhead variance
Volume variance
Fixed overhead variance
The budget which forecasts the total output of the organization is called
master budget
function budget
fixed budget
production budget
Report prepared for the shareholders and general public is known as
internal report
control report
routine report
external report
When sales are Rs. 2,00,000 fixed cost Rs. 30,000 P/V Ratio 40% the amount of profit will be:
Rs. 50,000
Rs. 80,000
Rs. 12,000
Rs. 18,000
10) The difference between fixed and variable cost has a special significance in the preparation of:
Flexible budget
Master budget
Cash budget
Fixed budget
11) When actual cost is less than standard cost it is known as variance.
unfavorable
favorable
negative
adverse
Page 2 of 3
SLR-CY-15
12) One of the merits of report is
personal bias
times consuming
costly affair
performance evaluation
13) Overhead cost variance is the difference between:
Recovered overheads and actual overheads
Budgeted overheads and actual overheads
Budgeted overheads and standard overheads
Budgeted overhead and fixed overheads
14) At Break Even Point, total cost is equal to total
turnover
revenue
fixed cost
expenditure
Q.2
Answer the following questions:
14
Define marginal costing. State the advantages and disadvantages of marginal costing.
What is report? Explain the merits and demerits of report.
Q.3
Answer the following question:-
14
Calculate the P/V ratio if the fixed cost for manufacturing 1000 units of a product is Rs. 4500 per month variable cost is Rs. 22.50 per unit and selling price is Rs. 30 per unit. If the selling price is reduced by find out the P/V ratio. Also calculate the number of units to be sold to earn the present total profit.
Q.3
Birla Cement Ltd. Solapur has budgeted sales as under:
Months in 2013/2014
Black Cement Unit
White Cement Unit
July
5,000
2,000
August
10,000
4,000
September
12,000
5,000
October
15,000
6,000
November
13,500
5,000
December
10,000
6,550
January
12,000
5,000
77,500
33,550
The Company maintains inventory equal to half of the sales for next month and there is no work-progress at the end of any month. Stock is on 1st July 2013 for black cement 2500 unit; and white cement 1000 unit.
Prepare the Production Budget for the half year ending on 31-12-2013.
Q.4
Answer any one of the following:-
14
Komal Ltd. provided the following information related to the payments of wages.
Particular
Skilled Workers
Semi-skilled Workers
Unskilled Workers
Standard number of workers in the gang
50
30
20
Standard rate per hour
27
24
20
Actual number of workers in the gang
55
27
18
Actual rate per hour
29
25
22
Page 3 of 3
SLR-CY-15
The company worked for 50 hours in the week and produced 4500 standard hour of work.
Calculate:
1. Labour Cost Variance
2. Labour Rate Variance
3. Labour Efficiency Variance
4. Labour Mix Variance
5. Labour Yield Variance
TATA Co. Ltd. is to start production on 1st January 2011. The prime cost of a unit is expected to be Rs. 40 (Rs. 16 per materials and Rs. 24 for labour). In addition, variable expenses per unit are expected to be Rs. 8 and fixed expenses per month Rs. 30,000. Payment for materials is to be made in the month following the purchase. One-third of sales will be for cash and the rest on credit for settlement in the following month. Expenses are payable in the month in which they are incurred. The selling price is fixed at Rs. 80 per unit. The number of units to be produced and sold is expected to be: January 900; February 1200; March 1800; April 2000; May 2100; June 2400 Draw a Cash Budget indicating cash requirement for month to month.
Q.5
Answer any one of the following:-
14
The following information is obtained from a company for January:
Sales
Rs. 20,000
Variable Costs
Rs. 10,000
Fixed Costs
Rs. 6,000
Find P/V ratio, break-even point and margin of safety at this level, and the effect of:
1. 20% decrease in fixed costs
2. 10% increase in fixed costs
3. 10% decrease in variable costs
4. 10% increase in selling price
5. 10% increase in selling price together with an increase of fixed overheads by Rs. 1200.
6. 10% decrease in sales price.
7. 10% decrease in sales price accompanied by 10% decrease in variable costs.
OR
Define Management Information System? Explain in detail the process of Management Information System.
MANAGEMENT ACCOUNTING II
Time: 2½ Hours
Max. Marks: 70
Instructions: All questions are compulsory. Figures to the right indicate full marks.
Q.1
Choose the correct alternative:-
14
The difference between the selling price and the variable cost is called
Marginal cost
Fixed cost
Prime cost
Contribution
The ratio between contribution and sales is called
Contribution ratio
P/V ratio
Sales ratio
Profit ratio
Predetermined cost is called
Budget cost
Actual cost
Standard cost
Historical cost
If the actual cost is less than the standard cost, it is known as
Unfavorable variance
Favorable variance
Cost centre
Cost unit
The difference between the standard cost of material and actual cost of material is called
Labour cost variance
Material cost variance
Sales variance
Material quantity variance
The difference between the budgeted fixed overhead and actual fixed overhead is called
Expenditure variance
Variable overhead variance
Volume variance
Fixed overhead variance
The budget which forecasts the total output of the organization is called
master budget
function budget
fixed budget
production budget
Report prepared for the shareholders and general public is known as
internal report
control report
routine report
external report
When sales are Rs. 2,00,000 fixed cost Rs. 30,000 P/V Ratio 40% the amount of profit will be:
Rs. 50,000
Rs. 80,000
Rs. 12,000
Rs. 18,000
10) The difference between fixed and variable cost has a special significance in the preparation of:
Flexible budget
Master budget
Cash budget
Fixed budget
11) When actual cost is less than standard cost it is known as variance.
unfavorable
favorable
negative
adverse
Page 2 of 3
SLR-CY-15
12) One of the merits of report is
personal bias
times consuming
costly affair
performance evaluation
13) Overhead cost variance is the difference between:
Recovered overheads and actual overheads
Budgeted overheads and actual overheads
Budgeted overheads and standard overheads
Budgeted overhead and fixed overheads
14) At Break Even Point, total cost is equal to total
turnover
revenue
fixed cost
expenditure
Q.2
Answer the following questions:
14
Define marginal costing. State the advantages and disadvantages of marginal costing.
What is report? Explain the merits and demerits of report.
Q.3
Answer the following question:-
14
Calculate the P/V ratio if the fixed cost for manufacturing 1000 units of a product is Rs. 4500 per month variable cost is Rs. 22.50 per unit and selling price is Rs. 30 per unit. If the selling price is reduced by find out the P/V ratio. Also calculate the number of units to be sold to earn the present total profit.
Q.3
Birla Cement Ltd. Solapur has budgeted sales as under:
Months in 2013/2014
Black Cement Unit
White Cement Unit
July
5,000
2,000
August
10,000
4,000
September
12,000
5,000
October
15,000
6,000
November
13,500
5,000
December
10,000
6,550
January
12,000
5,000
77,500
33,550
The Company maintains inventory equal to half of the sales for next month and there is no work-progress at the end of any month. Stock is on 1st July 2013 for black cement 2500 unit; and white cement 1000 unit.
Prepare the Production Budget for the half year ending on 31-12-2013.
Q.4
Answer any one of the following:-
14
Komal Ltd. provided the following information related to the payments of wages.
Particular
Skilled Workers
Semi-skilled Workers
Unskilled Workers
Standard number of workers in the gang
50
30
20
Standard rate per hour
27
24
20
Actual number of workers in the gang
55
27
18
Actual rate per hour
29
25
22
Page 3 of 3
SLR-CY-15
The company worked for 50 hours in the week and produced 4500 standard hour of work.
Calculate:
1. Labour Cost Variance
2. Labour Rate Variance
3. Labour Efficiency Variance
4. Labour Mix Variance
5. Labour Yield Variance
TATA Co. Ltd. is to start production on 1st January 2011. The prime cost of a unit is expected to be Rs. 40 (Rs. 16 per materials and Rs. 24 for labour). In addition, variable expenses per unit are expected to be Rs. 8 and fixed expenses per month Rs. 30,000. Payment for materials is to be made in the month following the purchase. One-third of sales will be for cash and the rest on credit for settlement in the following month. Expenses are payable in the month in which they are incurred. The selling price is fixed at Rs. 80 per unit. The number of units to be produced and sold is expected to be: January 900; February 1200; March 1800; April 2000; May 2100; June 2400 Draw a Cash Budget indicating cash requirement for month to month.
Q.5
Answer any one of the following:-
14
The following information is obtained from a company for January:
Sales
Rs. 20,000
Variable Costs
Rs. 10,000
Fixed Costs
Rs. 6,000
Find P/V ratio, break-even point and margin of safety at this level, and the effect of:
1. 20% decrease in fixed costs
2. 10% increase in fixed costs
3. 10% decrease in variable costs
4. 10% increase in selling price
5. 10% increase in selling price together with an increase of fixed overheads by Rs. 1200.
6. 10% decrease in sales price.
7. 10% decrease in sales price accompanied by 10% decrease in variable costs.
OR
Define Management Information System? Explain in detail the process of Management Information System.
Other Question Papers
Subjects
- (research methodology) (for external student)
- (research methodology) (for regular student)
- advanced accountancy (paper - i)
- advanced accountancy (paper - iii)
- advanced accountancy (paper – i)
- advanced accountancy (paper – ii)
- advanced accountancy (paper – iii)
- advanced accountancy (paper – iv)
- advanced accountancy – i
- advanced accountancy – ii
- advanced accountancy – iii
- advanced accountancy – iv
- advanced accountancy(paper – iv)
- advanced accountancy(paper-ii)(auditing)
- advanced banking & financial system (paper - i)
- advanced banking & financial system (paper - iii)modern banking
- advanced banking & financial system (paper – i)
- advanced banking & financial system (paper – ii)
- advanced banking & financial system (paper – iii)
- advanced banking & financial system (paper – iv)
- advanced banking – i
- advanced banking – ii
- advanced banking – iii
- advanced banking – iv
- advanced costing (paper - i)
- advanced costing (paper – i)
- advanced costing (paper – ii)
- advanced costing (paper – iii)
- advanced costing (paper – iv)
- advanced costing (paper–iv)(research methodology) (for external student)
- advanced costing(research methodology) (for regular student)
- advanced statistics (paper - i)
- advanced statistics (paper - iii)
- advanced statistics (paper – i)
- advanced statistics (paper – ii)
- advanced statistics (paper – iii)
- advanced statistics (paper – iv)
- business finance (compulsory paper – iv)
- business finance – i
- business finance – ii
- e-commerce
- entrepreneurship (oet)
- industrial statistics
- industrial statistics and demography
- international business
- management accounting (compulsory paper – iii)
- management accounting – i
- management accounting – ii
- management concepts
- management concepts & organizational behaviour (comp. – i)
- managerial economics (comp – i)
- managerial economics (comp. – ii)
- managerial economics – i
- managerial economics – ii
- organizational behavior
- taxation (paper - i)
- taxation (paper – i)
- taxation (paper – ii)
- taxation (paper – iii)
- taxation (paper – iv)