Management Accounting Question Papers 2016 [Gauhati University BCom 5th Sem Papers]

In this Post we have shared the Gauhati University BCom Management Accounting Question Paper 2016 is now very helpful for FYUGP NEP BCom 5th Sem Accountancy Major Students of Gauhati University. So, read this Management Accounting Question Paper 2016 of Gauhati University BCom 5th Sem Accountancy Major.

Management Accounting Question Papers 2016, Gauhati University Question Papers B.Com 5th SEM CBCS Pattern

Gauhati University Question Papers

MANAGEMENT ACCOUNTING (May-June'2016)

(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 anticipates future events.

2)         Profit-volume ratio is also known as contribution ratio.

3)         Standard costing and budgetary control are similar in nature.

4)         A flexible budget is also known as variable budget.

5)         Material usage variance is the same as material quantity variance.

(b) Fill in the blanks with appropriate words:                                             1x5=5

1)         Management accounting provides all possible information required for _____ purposes.

2)         Prime cost plus variable overhead is known as _____ cost.

3)         All functional budgets are integrated to form a _____ budget.

4)         Idle time variance is always _____.

5)         Budgetary control emphasizes on controlling of cost, while standard costing emphasises on achieving of _____.

(c) Write in brief on the following in about 50 words each:          2x5=10

1)         Scope of Management Accounting.

2)         Advantages of Marginal Costing.

3)         Meaning of Budgetary Control.

4)         Limitations of Standard Costing.

5)         Two points of distinction between Fixed Budget and Flexible Budget.

2. Write short notes on any four of the following:                                                  5x4=20

a)         Five points of differences between Financial Accounting and Management Accounting.

b)         Cost-volume Profit Analysis.

c)          Objectives of Budgetary Control.

d)         Distinction between Standard Costing and Budgetary Control.

e)         Components of Labour Cost Variance.

f)          Use of Accounting Information for Management Purpose.

3. Describe the tools and techniques of management accounting needed for managerial decisions. 10

Or

“Management accounting is concerned with information which is useful to management.” Explain the above statement highlighting the nature of information referred to.

4. The information in respect of sales and profit of a concern are given below:

Year	Sales (Rs.)	Profit (Rs.)
2014 2015	1,00,000 1,20,000	15,000 23,000

You are required to calculate the following:

1)         P/V ratio

2)         Fixed cost.

3)         Break-even point.

4)         Profit when sales are Rs. 1,25,000

5)         Sales required to earn a profit of Rs. 20,000

Or

Describe the managerial application of marginal costing techniques in various decision-making areas.     10

5. X Ltd. uses standard costing and furnished the following information:

Standard material for 700 units of finished product Standard price of material Actual output produced Opening stock of material Purchased 3,00,000 kg of material for Closing stock of material

1000 kg Rs. 1 per kg 2,10,000 units 22,000 kg Rs. 2,70,000 17,000 kg

Calculate the following:

a)         Direct material cost variance.

b)         Direct material price variance.

c)          Direct material usage variance.

Give the significance of the above variances.                                         10

Or

State the meaning of standard costing. Explain the steps of setting standard cost.          3+7=10

6. The expenses for production of 6,000 units and 8,000 units at 60% and 80% capacity respectively in a factory are given below:

	Expenses (in Rs.)
	6,000 units	8,000 units
Material Labour Direct Expenses Factory overhead Administrative overhead Selling expenses	4,20,000 1,50,000 30,000 2,20,000 50,000 83,200	5,60,000 2,00,000 40,000 2,60,000 50,000 1,06,600
	9,53,200	12,16,600

Administrative overhead, fixed factory overhead and fixed selling expenses are rigid at any level of activity upto 100% capacity. Prepare a Flexible Budget for production of 10,000 units at 100% capacity. [Show proper working notes]               10

Or

State the advantages and limitations of budgetary control in a business.          5+5=10

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