Other Master Degree-Master in Marketing Management (M.M.M) 1st Sem FUNDAMENTALS OF MANAGEMENT ACCOUNTING(University of Pune, Pune-2013)
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M. M. M. ( Semester - I ) Examination - 2013
FUNDAMENTALS OF MANAGEMENT ACCOUNTING
(New 2008 Pattern)
Time : 3 Hours] [Max. Marks : 70
Instructions :
(1) Solve any three questions from section I and any two from section II.
(2) All questions carry equal marks.
(3) Use of simple calculator is allowed.
Q.1) Explain the terms Cost and Costing. What are the different elements of Cost ?
Q.2) What do you mean by Overheads ? Explain Allocation and Apportionment of Overheads with suitable examples.
Q.3) Describe in detail the Purchase Procedure of Materials.
Q.4) Write short notes : (Any Three)
(a) Cost Center and Cost Unit
(b) ABC Analysis
(c) Master Budget
(d) Standard Costing
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Q.5) The Sales Turnover and the Total Cost of ABC Ltd. are as under :
Year Sales (Rs.) Total Cost (Rs.)
2010 1,50,000 1,20,000
2011 1,80,000 1,42,000
You are required to calculate :
(a) Profit Volume Ratio
(b) Fixed Cost
(c) Break-even Point
(d) Sales to earn a profit of Rs. 45,000
(e) Variable Cost for 2011
Q.6) Prepare a Cash Budget from April to June from the following data :
Month Sales Purchases Wages Expenses
(Rs.) (Rs.) (Rs.) (Rs.)
January 80,000 45,000 20,000 5,000
February 80,000 40,000 18,000 6,000
March 75,000 42,000 22,000 6,000
April 90,000 50,000 24,000 7,000
May 85,000 45,000 20,000 6,000
June 80,000 35,000 18,000 5,000
Other Information :
(1) Advance Income Tax of Rs. 4,000 is payable in May.
(2) Rent Rs. 300 paid each month is not included in expenses.
(3) 10% of the sales are Cash Sales. But, all purchases are Credit Purchases.
(4) Credit Purchases are paid after 1 month and credit sales are collected after 2 months.
(5) Wages are paid after a time lag of 1/2 month. Expenses are paid in the same month.
(6) Cash and Bank Balance as on 1st April was Rs. 13,000.
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Q.7) From the following particulars calculate the following Material Variances :
(a) Material Cost Variance
(b) Material Usage Variance
(c) Material Price Variance
Material Standard Actual
Qty. P rice Qty. Price
A 10 kg Rs. 8 10 kg Rs. 7
B 8 kg Rs. 6 9 kg Rs. 7
C 4 kg Rs. 12 12 kg Rs. 11
Q.8) Prepare Stores Ledger according to FIFO and LIFO Method from the following information :
January, 2008
1 Purchased 1,000 kg at Rs. 4.50
5 Purchased 2,000 kg at Rs. 4.00
8 Issued 2,200 kg
15 Issued 400 kg
19 Purchased 1,500 kg at Rs. 4.20
22 Issued 1,000 kg
24 Purchased 1,800 kg at Rs. 4.60
27 Purchased 1,000 kg at Rs. 4.50
28 Issued 2,500 kg
30 Issued 100 kg
On 18th January Stock Verification located shortage of 25 kg
| Earning: ₹ 7.05/- |
