Management Accounting 2024 Question Paper [Gauhati University FYUGP BCom 5th Sem]

In this Post we have shared the Gauhati University BCom Management Accounting Question Paper 2024 is now very helpful for FYUGP NEP BCom 5th Sem Accountancy Major Students of Gauhati University. So, read this Management Accounting Question Paper 2024 of Gauhati University BCom 5th Sem Accountancy Major.

2024
COMMERCE
(Honours Elective)
Paper: COM-HE-5016
(Management Accounting)
Full Marks: 80
Time: Three hours

The figures in the margin indicate full marks for the questions.
Answer either in English or in Assamese.

1. Answer as directed: (1 × 10 = 10 marks)

(a) Management Accounting deals with both quantitative and qualitative information.
(State whether the statement is True or False)

(b) Define Management Accounting.

(c) _______ ratio is useful for measuring the short-term liquidity.
(Fill in the blank)

(d) Sale of fixed assets for cash will improve the current ratio.
(State whether the statement is True or False)

(e) What do you mean by cash budget?

(f) State the meaning of budgetary control.

(g) Contribution is the difference between the sales and the total cost of sales. (State whether the statement is True or False)

(h) What is break-even point?

(i) The difference between actual cost and standard cost is known as (

(a) variance

(b) profit

(c) differential cost

(d) loss (Choose the correct answer)

(j) State the meaning of standard cost.

2. Give brief answers to the following questions: (2 × 5 = 10 marks)

(a) Mention two limitations of standard costing.

(b) Write a brief note on margin of safety.

(c) Write any two objectives of Management Accounting.

(d) Mention two objectives of Financial Statement Analysis.

(e) What is current ratio?

3. Answer the following questions: (any four) (5 × 4 = 20 marks)

(a) Explain briefly the scope of Management Accounting.

(b) Describe briefly liquidity ratios used to measure the liquidity of a firm.

(c) State the basic characteristics of marginal costing.

(d) Explain briefly labour cost variance.

(e) Write the distinctions between fixed budget and flexible budget.

(f) Write a brief note on comparative statements.

4. Answer the following questions: (any four) (10 × 4 = 40 marks)

(a) Explain different tools and techniques of Management Accounting in the areas of decision-making.

(b) Write any five limitations of Management Accounting. How does Management Accounting differ from Cost Accounting?  (5 + 5 = 10 marks)

(c) "Marginal costing technique is a valuable aid to management in taking many managerial decisions." Explain the statement with reference to managerial application of marginal costing.

(d) (i) The following information of a company is given below:

• Current Ratio = 2.8

• Acid-Test Ratio = 1.5

• Working Capital = ₹ 1,62,000 

Find out Current Assets,Current Liabilities and Liquid Assets. (5 marks)

(ii) How is the Common Size Statement different from Comparative Statement? (4 marks)

(e) Following are the information obtained from the books of Bajaj India Ltd.:

• Fixed Cost = ₹ 1,60,000

• Sales = ₹ 100 per unit

• Variable cost = ₹ 90 per unit
  Calculate:
  (i) P/V Ratio
  (ii) Break-even sales
  (iii) Break-even units
  (iv) Sales to earn a profit of ₹ 40,000
  (v) Profit when sales are ₹ 20,00,000 (2 × 5 = 10 marks)

(f) From the following data, prepare a cash budget for the three months April to June, 2023 of an organisation:

Month	Sales (₹)	Purchases (₹)	Wages (₹)	Sundry Expenses (₹)
February	1,20,000	80,000	10,000	7,000
March	1,30,000	78,000	12,000	9,000
April	70,000	1,00,000	8,000	5,000
May	1,16,000	1,03,000	10,000	10,000
June	85,000	80,000	8,000	6,000

Further Information :

(i) 10% of sales is realised in the month of sale and the balance is realised equally in two subsequent months.

(ii) Creditors allow a credit of one month.

(iii) 20% of the wages of a month remains as arrear which is paid in the following month.

(vi) Sundry expenses are paid in the month itself.

(v) Income tax ₹ 20,000 and dividends ₹ 12,000 are payable in June.

(vi) Cash in hand on 1-4-2023 was ₹ 40,000.

(g) From the following information regarding a standard product, calculate:
(i) Labour cost variance
(ii) Labour rate variance
(iii) Labour efficiency variance
(4 + 3 + 3 = 10 marks)

Hours per unit 10 hours

Units produced 500

Hours worked 6000

Actual Labour cost ₹ 2,400

(h) The standard materials required for producing 100 units is 120 kgs. A standard price of 0.50 paise per kg is fixed and 2,40,000 units were produced during the period. Actual materials purchased were 3,00,000 kgs at a cost of ₹ 1,65,000.

Calculate:

 (i) Material cost variance

 (ii) Material price variance

 (iii) Material usage variance (4 + 3 + 3 = 10 marks)

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