B.Com In Banking & Insurance (BCBI) Sem III 2016 2017 Sep 2017 SYBBI SEM III MGT.ACC Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A) Fill in the blanks 5 marks
   • 1) costing is one of the techniques of costing
   • 3) Annual Report of the company is compulsory under Act
   • 4) is the angle formed between total cost line and sales line
   • 5) Marginal cost is also termed as cost
2. Q1 B)Mach the followings 5 marks
   • 3. Wages Cost
   • 4. fees 4.Selling and distribution overheads
   • 6.Direct Cost
   • 7.Office Overheads
3. Q1 C) State whether the following statements are True or False c 4 1. P/V ratio indicates fixed cost as a percentage of Sales 5 marks
   • 2. Rent Payable is a part of Fixed Cost
   • 3. Unproductive labour is Direct Cost
   • 5.Marginal cost technique does not help the management in decision making
4. Q2 The sales and profits during the two years were as follows 15 marks
   • (b) Fixed Cost
   • (d) If the company wants to have a profit of Rs.6000 what should be the level of sales?
   • (e) Profit when sales are Rs. 375000
   • (f) Revised BEP if Fixed Cost increases by 10%
5. Q2 Fast-track Ltd.’s summarized performance was declared as(Rs. Lakh): Marks The chairman expects 50% jump in sales during 2011,over 2010 Required to compute:
   • (a) Expected profit in the year 2011
   • (b) Margin of safety in the year 2009
   • (c) Break-even point in the year 2010
   • (d) Capacity utilization in year 2011 if the company is operating at 30% capacity ir
   • (e) Sales target in 2011 if profit desired in 2011 was double the 2009 profit Make assumptions if necessary and state them expressly
6. Q3 Marks Mikaldo Engineering Company has received an export order for its sole product that would reqire half of the factory’s total capacity which is estimated at 800000 units per annum.The factory is currently operating at 60% level to meet the damand of its domestic customers only.As against the current price of Rs.12.00 per unit,the export offer is Rs.9.00 per unit which is less than the total cost of current production,the down of which is given below: The condition of export is that the offer has to be either accepted in full or totally The following alternatives are available for decision making: 15 marks
   • (a) Accept the order and keep domestic sales unfulfilled to the extent of excess demand for the same
   • (b) Increase factory capacity by installing a few balancing machines and equipment and also by making overtime to meet the balance of the required will increase fixed overhead by Rs.30,000 annually and the additional cost for overtime work will be 80,000 per annum
   • (c) Reject the export offer and remain with the domestic market only Prepare statement indicating the alternatives and suggesting the proposal which would be
7. Q3 Marks Fixed cost Rs.4,20,000.Total Acreage -900. Of this ,600 acres can for oran and only and balance for any 4 products. Fractions of acres can not be used the above products should be sold, with a minimum of 36,000 boxes of any one type Suggest the usage of land and profit arising therefrom 15 marks
8. Q4 From the books of accounts of ABC LTD., the following details have b extracted for the year ending 31-03-2015: Marks 15 Stock of Materials- opening 3,50,000 Stock of Materials-closing 2,20,000 Purchase of Materials 12,00,000 Hire charges for special equipment 55,000 Salaries to office staff 55,000 Commission on sales 45,000 Repairs to plant and machinery 18,000 Depreciation on plant and machinery 70,500 Depreciation on furniture 13,200 Purchase of machinery 2,55,000 Selling Price is 120% of the cost price Li From the above details prepare cost sheet for the year ending 31-03-2015 details are furnished by Avani Ltd.of expenses incurred during the year ended 31-03-2015. Marks 15 Purchases of raw materials 2,40,000 Cost of Catalogues 17,100 Depreciation on machinery 19,000 Opening stock of raw materials. 25,000 Depreciation of office furniture 12,500 Interest on loan 12,700 Closing stock of raw materials 15,000 Distribution of free samples 13,775 Rent of office 11,500 Machinery loss by fire 8,000 Commission to salesman 15,675 Cost of special design 90,000 Purchase of furniture 1,40,000
   • (a) Stock of finished goods at the end 500 units to be valued at cost of production
   • (b) Number of units sold during the year were 9500
   • (c) Profit desired on sales is 20% Prepare cost sheet showing the various elements of cost both in total and per unit ar find out the total profit and per unit profit
9. Q5 a) What is management accounting? Explain the functions of mana;
10. Q5 b) what is cost audit ? Explain the advantages of cost audit to the co managemet and consumers ? Marks(
11. Q5 Write short notes on followings(any three): Ma
    • (b) Angle of incidence
    • (c) Fixed Cost
    • (d) Auditor’s Report
    • (e) Prime cost and works cost

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