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Monday, March 19, 2012

Dibrugarh University - Management Accounting (2010)


1 (a) “Management Accounting has been evolved to meet the need of Management.” Explain this statement fully.
or
(b) Discuss the major limitations of Managemnet Accounting. State briefly the essential conditions for success of Management Accounting.
2(a) From the following particulars, calculate Break—evan  point in units. What will be selling price per unit if the break—even point is brought down to 10000 units?
Selling price (per unit)
Rs. 20
Variable cost (per unit)
Rs. 16
Fixed expenses
60,000
 (b)From the following information, you are required to find out -----
(i) margin of safety;
(ii) volume of sales required to earn a profit of 10% on sales :
Total fixed cost (in Rs)
4,500
Total variable cost (in Rs)
7,500
Total sales (in Rs)
15,000
Sales (in units)
5000

Or
Marginal   costing is a very useful  teachnique management for cost control, profit  planing and decision –making.” Explain.
3. (a) Xyz co LTD.has given the following particulars, you are required to prepare a cash budget for three months ending 31st December, 2009:
Months
Sales
Materials
Wages
Overheads
August
September
October
November
December
20000
21000
23000
25000
30000
10200
10000
9800
10000
10800
3800
3800
4000
4200
4500
1900
2100
2300
2400
2500
1.       Credit   terms  are  sales/debtors---20% sales are on cash basis, 50% of the credit sales are collected next month and the balance  in the following month
2.       Creditors----material 2 months
3.       Lag in payment of : Wages---  1/4  month, Overheads – ½ months
4.       Cash balance on 1st  october,2009 is expected to be Rs 10,000
5.       A machinery will be installed in August 2009 at a cost of Rs  1,00,000. The monthly instalment of Rs 7,500 is payable from  October onward
6.       Dividend at 10% on preference share capital of Rs 3,00,000 will be paid on 1st December,2009
7.       Advance to be received for sale of vehicle Rs 20,000 in December      
8.       Income-tax (advance) to be paid in December Rs. 5,000.
Or
(b) Explain briefly the objectives and limitations of budgetory control.
4(a) The standard cost of a chemical mixture is as under:
 40 Kg of material X at Rs 20 per Kg
 60  Kg of material Y at Rs 30 per Kg
A standard loss of 10% of input is expected in production.
The cost records for a period showed the following usage :
90 Kg of material X at Rs 18 per Kg
110 Kg of material Y at Rs 32 per kg
The quantity produced was 182 Kg of good  products.
Calculate -----
(i)material cost variance;
(ii)material price variance;
(iii) material usage variance;
(iv)material mix variance;
(v) material yield variance. Verify your result.
Or
(b) what is standard costing? How does it help in keeping a control over cost ? point out its limitations.
5(a) Discuss the importance or significance of Funds—flow  statement. How do you determine wherher a particular change is in the nature of a source or of an  application of fund ?
Or
(b) Following are comparative Balance of good Luck co. Ltd. As on 31st march :
Liabilities
2008
2009
Assets
2008
2009
Share Capital
Debentures
General Reserve
Profit and Loss A/c
Income Tax Provision
Trade Creditors
Bills Payable
Provision for Doubtful Debts
1000000
500000
200000
110000
40000
50000
20000
30000
1100000
300000
200000
190000
110000
40000
30000
24000
Goodwill
Land and Building
Plant and Machinery
Closing Stock
Debtors
Cash
Preliminary Expenses

50000
420000
600000
250000
300000
300000
30000

40000
660000
800000
210000
240000
24000
20000


1950000
1994000

1950000
1994000
Additional Information :
1.       During the year ending 31st march, 2009, a part of machinery costing Rs 7,500 (accumulated depreciation thereon being 2500)was  sold for Rs 3,000
2.       Dividend of Rs 1,00,000 was paid during the year ended 31st march, 2009
3.       Income tax of Rs 50,000 was paid during the year 2009
4.       Depreciation for the year 2009 was provided as follows :
Land and Building----Rs 10,000
Plant and Machinery----Rs 50,000
You are required to prepare cash Flow statement by Indirect Method as per AS—(Revised).

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