S)
Total No. of (Questions :
SEAT No.
P8410 |Total No, of Pages :6
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M.B.A.
101 -GC-01:MANAGERIALACCOUNTING
(2021 Pattern) (Semester - I)
Time : 2% Hours] [Mux.Muarks ! 50
Instructions to the candidates:
1) Allquestions are comnpulsory.
2) Each question carries equal marks.
Ql) Solve any FIVE: (5x2=10)
A) The left hand side of an account is called the
side while the right
hand side of an account is called the side.
B) Write any two objectives of financial statement.
C) Give two examples of tangible and intangible assets?
D) ) The long-term assets that have no physical existence but are rights
that have value is known as
a Current Assets b) Fixed Assets
c) Intangible Assets d) Tangible/Assets
i) The process of entering all transactions from the Journal to Ledger
is called
a) Posting b) Entry
c) Accounting d) None of the above
E) ) are the process and techniques of ascertainment of cost.
a) Cost b) Costing
c) Cost Accounting d) Cost Accountancy
PI.
i) Elements of Cost of aproduct are:
a) Material only b) Labour Only
c) Expenses Only d) Material, i
Labour and Expenses
F) What is Break-Even Point?
G) Define standard
costing.
H) ) budget is abudget which is designed to remain
irespective of the volume of output or turnover achieved. unchanged
a) Fixed b) Flexible
c) Cash d) Sales
i) The main objective of
budgetary control is:
a) todefine the goal of the firm
b) tocoordinate
different departments
c) to plan to
achieve its goals
d) allof the above
02) Solve any TWO:
a)
Explain the Elements of Cost along (2x5=10)
with relevant
b) examples.
Differentiate between cost accounting and
Who are the users of
financial accounting.
accounting information? Explain.
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03) Solveany ONE:
(10 Marks)
A) The following trial
balance has been extracted from the books of
on 31st March, 2021. Rajesh
Trial Balance as on 31st
March 2021
Debit Balance Amount ? Credit Balance |Amount
Drawings 44,000 Capital 1,76,000
Plant and Machinery 1,00,000 Sales 4,72,000
Opening stock 20,000 Provision for bad and 2,000
doubtful debts
Purchases 2,70,000 Bank overdraft 20,000
Wages 62,000 Discount received 6,000
Salaries 70,000 Sundry creditors 24,000
Insurance 45,000
Rent and taxes 19,000
Sundry debtors 70,000
7,00,000 7,00,000
The following adjustments are to be made:
Stock on 31st March 2021 was Rs. 28,000.
Provision for doubtful debts is to be maintained at 59% on sundry
debtors.
ii) Depreciate plant and machinery at 20%.
As an Accountant you are required to prepare trading and profit and loss
account for the year ended 31st March 2021 and a balance sheet as on that
date.
3
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B) The following figures extracted from the books of Alfa Ltd. for1
ended on 31.3.2021. As a Cost Accountant you are requiredi
to
the year
statement of the cost to show the prime cost, factory cost, prepare a
COst of
production, total cost and calculate profit/loss for the year 2020-21
(10 Marks)
Particulars Amount Rs.
Direct Materials 70,000
Indirect Wages 10,000
Factory Rent &Rates 50,000
Indirect Materials 500
Depreciation of Office Assets 100
General Factory Expenses 5,700
General Selling Expenses 1,000
Office Salaries
4,500
Advertisements 2,000
Direct Wages 75,000
Other Direct Expenses
15,000
Office Rent & Rates
500
Depreciation of Machines 1,500
Salary to Managing Directors 12,000
Travelling Expenses 1,100
General Office Expenses 1,000
Carriage Outward 1,000
Sales 2,50,000
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04) Solve any ONE:
A) Asa Cost Accountant, from the following information you are required
to analyse: (10 Marks)
i) Profit volume ratio
i) BEP
in) Margin of safety
iv) Profit if sales are Rs.1,00,000
v) Sales required to carn a profit of Rs. 20,000
Year Sales Profit
2017 1,20,000 9,000
2018 140,000 13,000
B) Aadesh Enterprise Ltd. furnished you the following related to the year 2021.
(10 Marks)
Rs.
15,000
Sales
12,000
Variable cost 0
Gross Profit 60,000
Fixed Cost 20,000
Net Profit 40,000
You have appointed as Cost Accountant, analyse the following:
P/V Ratio.
i) BEP
m) Profit when sales are Rs. 4,00,000
iv) Sales required to earn a profit of Rs. 80,000
v) Margin of safety when sales are Rs. 4,00,000
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05) Solve any ONE:
with its bankers
A) M.K. Exports Ltd. wishes to arrange overdraft facilities
during the period April-June 2021 whcn itwill be manufacturing mostlv
for stocks. A company is appointed you as a finance executive. As 2
finance exccutive youare required toevaluate and prepare a cash budget
for this period from the following data, indicating the extent of the banl
facilities the company will require at the end of each month.(10 Marke
Sales Purchases
Period
Wages
Rs. Rs. Rs.
Feb. 2021 1,80,000 1,24,000 12,000
March 2021 1,92,000 1,44,000 14,000
April 2021 1,08,000 2,43,000 11,000
May 2021 1,74,000 2,46,060 10,000
June 2021 1,26,000 2,68,000 15,000
50 percent of the sales are realised in the month following the sales
and the remaining 50percent in the second mnonth following.
ii Creditors are paid in the month following the month of purchase.
in) Cash at bank on 1st April 2021 is Rs. 25,000.
B) Asa finance executive you are required toassess Material Cost Variance,
Material Price Variance and Material Usage Variance from the given
information: (10 Marks)
Standard Actual
Qty. Price Value Qty. Price Value
Kgs. Rs. Rs. Kgs. Rs. Rs.
MaterialA 100 500 100 4 400
Material B 80 4 320 90 450
|MaterialC 40 2 80 50 3 150
220 900 240 100
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