Spring 2012
BBARO – 5th Semester Subject Code – CA0024 Subject Name – Management Accounting Assignment Set- 1 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions. Q.1 Explain why management accountant role is critical in an organizational setup? [10 Marks] Q.2 What are the elements of variance analysis [10 Marks] Q.3 From the following data of Jagdish Company prepare (a) a statement of source and uses of working capital (funds) (b) a schedule of changes in working capital Assets 2008 2007 Cash 1,26,000 1,14,000 Short-term investment 42,400 20,000 Debtors 60,000 50,000 Stock 38,000 28,000 Long term Investment 28,000 44,000 Machinery 2,00,000 1,40,000 Building 2,40,000 80,000 Land 14,000 14,000 Total 7,48,400 4,90,000 Liabilities and Equity Accumulated depreciation 1,10,000 60,000 Creditors 40,000 30,000 Bills Payable 20,000 10,000 Secured loans 2,00,000 1,00,000 Share capital 2,20,000 1,60,000 Share premium 24,000 Nil Reserves and surplus 1,34,400 1,30,000 Total 7,48,400 4,90,000 Income statement Sales 2,40,000 Cost of goods sold 1,34,600 Gross Profit 1,05,200 Less Operating expenses:
Spring 2012
Depreciation – machinery 20,000 Depreciation – building 32,000 Other expenses 40,000 92,000 Net profit from operation 13,200 Gain on sale on long-term investment 4,800 Total 18,000 Loss on sale of machinery 2,000 Net Profit 16,000 Adjustments: 1) Machinery worth Rs.70000 was purchased and worth Rs.10000 was sold during the year [Accumulated depreciation on machinery is Rs.18000 after adjusting depreciation on machinery sold]. Proceeds from the sale of machinery were Rs.6000 Dividends paid during the year Rs.11600 [10 Marks] Q.4 Explain why cash flow statement is more beneficial than funds flow statement [10 Marks] Q.5 Explain step cost, fixed, variable, and semi-fixed costs. [10 Marks] Q.6 For XYZ Co, the following particulars have been extracted for the year 2005: Cost of Materials 6,00,000 Wages 5,00,000 Factory Overheads 3,00,000 Administrative charges 3,36,000 Selling charges 2,24,000 Distribution charges 1,40,000 Profit 4,20,000 A work order has to be executed in 2006 and the estimated expenses are : Material Rs.8,000; Wages Rs.5,000 Assuming that in 2006 the rate of factory overheads has gone up by 20%; distribution charges have gone down by 10% and selling and administrative charges have gone each up by 15% at what price shold the product be sold so as to earn the same rate of profit on the selling price as in 2005. Factory overheads are based on wages and administration, selling and distribution overheads on factory cost. [10 Marks]
Spring 2012
BBARO – 5th Semester Subject Code – CA0024 Subject Name – Management Accounting Assignment Set- 2 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions. Q.1 A company has three production departments and two service departments. The departmental distribution summary for a particular period has the following totals. You are required to compute the total share of overheads of the service departments to be distributed to production departments: Production Department: (P1 – Rs.800; P2-Rs.700; P3- Rs.500 Rs.2,000 Service department: S1-Rs.234; S2-Rs.300 Rs.534 The expenses of service departments are charged out on a percentage basis as follows: P1 P2 P3 S1 S2 S1 20% 40% 30% - 10% S2 40% 20% 20% 20% - [10 Marks] Q.2 Distinguish between job costing and contract costing. [10 Marks] Q.3 A product passes through three distinct processes A,B and C. The normal loss of units in each process is 5%, 10% and 15% and the same is sold at Rs.2, Rs.4 and Rs.5 per unit respectively. Expenses for the month were as follows:
Spring 2012
Process A B C Sundry Materials 5,200 3,960 5,924 Wages 4,000 6,000 8,000 Actual output in unit 1,900 1,680 1,500 2000 units @ Rs.3 per unit were put into Process A. The total overheads are Rs.18,000 which are to be recovered at 100%of wages. Prepare necessary Process a/cs [10 Marks] Q.4 Explain joint products and by-products [10 Marks] Q.5 Explain break even chart and bring out the advantages of B.E.Chart [10 Marks] Q.6 Explain various types of budgets [10 Marks]
BBARO – 5th Semester Subject Code – CA0024 Subject Name – Management Accounting Assignment Set- 1 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions. Q.1 Explain why management accountant role is critical in an organizational setup? [10 Marks] Q.2 What are the elements of variance analysis [10 Marks] Q.3 From the following data of Jagdish Company prepare (a) a statement of source and uses of working capital (funds) (b) a schedule of changes in working capital Assets 2008 2007 Cash 1,26,000 1,14,000 Short-term investment 42,400 20,000 Debtors 60,000 50,000 Stock 38,000 28,000 Long term Investment 28,000 44,000 Machinery 2,00,000 1,40,000 Building 2,40,000 80,000 Land 14,000 14,000 Total 7,48,400 4,90,000 Liabilities and Equity Accumulated depreciation 1,10,000 60,000 Creditors 40,000 30,000 Bills Payable 20,000 10,000 Secured loans 2,00,000 1,00,000 Share capital 2,20,000 1,60,000 Share premium 24,000 Nil Reserves and surplus 1,34,400 1,30,000 Total 7,48,400 4,90,000 Income statement Sales 2,40,000 Cost of goods sold 1,34,600 Gross Profit 1,05,200 Less Operating expenses:
Spring 2012
Depreciation – machinery 20,000 Depreciation – building 32,000 Other expenses 40,000 92,000 Net profit from operation 13,200 Gain on sale on long-term investment 4,800 Total 18,000 Loss on sale of machinery 2,000 Net Profit 16,000 Adjustments: 1) Machinery worth Rs.70000 was purchased and worth Rs.10000 was sold during the year [Accumulated depreciation on machinery is Rs.18000 after adjusting depreciation on machinery sold]. Proceeds from the sale of machinery were Rs.6000 Dividends paid during the year Rs.11600 [10 Marks] Q.4 Explain why cash flow statement is more beneficial than funds flow statement [10 Marks] Q.5 Explain step cost, fixed, variable, and semi-fixed costs. [10 Marks] Q.6 For XYZ Co, the following particulars have been extracted for the year 2005: Cost of Materials 6,00,000 Wages 5,00,000 Factory Overheads 3,00,000 Administrative charges 3,36,000 Selling charges 2,24,000 Distribution charges 1,40,000 Profit 4,20,000 A work order has to be executed in 2006 and the estimated expenses are : Material Rs.8,000; Wages Rs.5,000 Assuming that in 2006 the rate of factory overheads has gone up by 20%; distribution charges have gone down by 10% and selling and administrative charges have gone each up by 15% at what price shold the product be sold so as to earn the same rate of profit on the selling price as in 2005. Factory overheads are based on wages and administration, selling and distribution overheads on factory cost. [10 Marks]
Spring 2012
BBARO – 5th Semester Subject Code – CA0024 Subject Name – Management Accounting Assignment Set- 2 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions. Q.1 A company has three production departments and two service departments. The departmental distribution summary for a particular period has the following totals. You are required to compute the total share of overheads of the service departments to be distributed to production departments: Production Department: (P1 – Rs.800; P2-Rs.700; P3- Rs.500 Rs.2,000 Service department: S1-Rs.234; S2-Rs.300 Rs.534 The expenses of service departments are charged out on a percentage basis as follows: P1 P2 P3 S1 S2 S1 20% 40% 30% - 10% S2 40% 20% 20% 20% - [10 Marks] Q.2 Distinguish between job costing and contract costing. [10 Marks] Q.3 A product passes through three distinct processes A,B and C. The normal loss of units in each process is 5%, 10% and 15% and the same is sold at Rs.2, Rs.4 and Rs.5 per unit respectively. Expenses for the month were as follows:
Spring 2012
Process A B C Sundry Materials 5,200 3,960 5,924 Wages 4,000 6,000 8,000 Actual output in unit 1,900 1,680 1,500 2000 units @ Rs.3 per unit were put into Process A. The total overheads are Rs.18,000 which are to be recovered at 100%of wages. Prepare necessary Process a/cs [10 Marks] Q.4 Explain joint products and by-products [10 Marks] Q.5 Explain break even chart and bring out the advantages of B.E.Chart [10 Marks] Q.6 Explain various types of budgets [10 Marks]
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