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

Questions asked in this paper

1. Q2 Financial Accounting is a process of accounting for cost 3.CPU stand for per unit 4.Variance means difference between and standard 5.BEP stand for Break Even Point 6.A zero level of output total cost is equal to Zero cost 7.The aggregate of indirect costs is termed as a overheads 8.Selling expenses is an example of functional cost 9.Total cost is equal to variable cost plus fixed cost 10.MIS stand for Management information system
   • B) Match the following (Any 7) 1.FIFO of costing 3.Apportionment cost 4.Semi finished goods 4.No Profit No Loss 8.Contribution 8.Distribution 9.PV Ratio 10.Marginal costing 7
2. Q2 You are furnished with the following information, Fixed cost for p eriod Rs.15000
   • f) P/V Ratio
   • h) Margin of safety
   • i) Profit _ if the sales are 7500 units Sales, if Profit is Rs.25,000
3. Q2 Raja Ltd has the following data for the coming year Find out P/V Ratio, BEP and Margin of safety Evaluate the effect of the followings on the above:
   • v) 20% increase in Physical sales volume
   • vi) 15% decrease in physical sales volume,
   • viii) 10% decrease in fixed cost
4. Q3 Following information has been extracted from the cost record of Audi Auto limited Direct wages for x 12 hours at 25 Paise per hour. P Direct wages for Y 16 hours at 25 paise per hour Variable Overheads: 150% of wages, Fixed overhead Rs.750 Selling price for X Rs.30 and For Y Rs.25 The Marketing Manager has placed the following alternative before the board of Directors for 250 units of X and 250 units of Y,
   • f) 400 units of y only
5. Q8 400 units of x ang 100 units of y
   • h) 150 units of x and 350 units of y Analyse the above alternative and advise which of the above sales mixes is to be accented
6. Q4 The accountant of A Itd for the year ended 31 December 2015 shows the following: Repairs to plant and Machinery 4,450 Rates and Taxes, Stock of Raw Material Travellers salaries and commission 7,700 Depreciation on Plant and Machinery 6,500 Depreciation on office furniture 300 Gas and water ( factory) 1200 Gas and water ( office), 400 Managers salary(1/4 office and3/4 factory) 15,000 You are required to prepare a cost statement for the year ended December 2015
7. Q4 ABC manufacturing company submits you the following information on 31 March 2008 Sales for the year 2,75,000 Inventories at the beginning of the year were: Work in progress 4,000 Purchase of Raw Material for the year 1,10,000 Raw material at the beginning of the year 3,000 Raw material at the end of the year 4,000 Factory overhead was 60% of direct labour ? Inventories at the end of the year were: Work in progress 6,000 Selling expenses 12.5% of sales Administrative expenses 7.5% of sales Prepare a statement of cost
   • a) What is management accounting and explains its importance?
   • b) Directors Report. 7
8. Q5 Short notes (Any 3) 15 marks
   • a) Advantage of MIS
   • c) Auditors Report
   • d) Work Cost 1
   • e) Fixed cost and its example

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