Cost & Management Accounting:NMIMS MBA assignments April 2019 Assignments: Avail answers at assignmentssolution@gmail.com

NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Cost & Management Accounting
Internal Assignment Applicable for April 2019 Examination
Assignment Marks: 30
Question 1
AMMI Ltd presents following information for Dec,2018-
Budgeted production of product A = 20000 units
Standard consumption of raw material S= 5 kg per unit of A
Standard price of material S = Rs 10 per Kg

Actually, 22000 units of product A was produced and material S was purchased at Rs12
per kg and consumed at 5.2 kgs per unit of A.
Calculate the material cost variances and discuss the results. (10 Marks)
Question 2
You have decided to start up a venture for manufacturing gel pens. You plan to discuss the
term cost and the essential elements of cost with your partner so as to find the suitability
of various costs that can be incurred during the production. Design a presentation to discuss
the same with the relevant examples. (10 Marks)
Question 3
Bhakti Ltd provides you the following information in relation to the year 2016-17 and
2017-18

2016-17	2017-18
Opening Stock(units) Value for 2016-17 Rs25000	100	?
Production (units)	?	1800
Fixed Cost	Rs 1lacs	Rs 1.5 lacs
Variable Cost	120000	250000
Sales(units)	1900	1100
Selling price (Rs/ per unit)	500	700
Closing Stock( units)	200	?

Calculate the value of closing stock for the year 2018, using –
a. FIFO basis (5 Marks)
b. LIFO basis (5 Marks)