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P1421
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P1293
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SEAT No. :
P2201
[Total No. of Pages : 7
[5165]-1001 M.B.A.
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Total No. of Questions : 5]
SEAT No. :
P2146 [Total No. of Pages : 8
[5165]-101 M.B.A. (Semester - I) 101 : ACCOUNTING FOR BUSINESS DECISIONS (2013 Pattern) (Revised) Time : 2½ Hours]
[Max. Marks : 50
Instructions to the candidates:1)
All questions are compulsory.
2)
Each question has an internal option.
3)
Each question carries 10 marks.
4)
Use of simple calculator is allowed.
Q1) Differentiate between financial accounting and cost accounting.
[10]
OR Briefly explain the role of management accounting in global business environment. Q2) Following is theTrial Balance of Mr. Dhoni as on 31 st March 2016. Prepare his Trading A/c, P&C A/c and Balance sheet. [10] Particular
Debit (Rs.)
Dhoni's capital
5,50,000
Good will
50,000
Op. Stock
2,00,000
Bills receivables
50,000
Plant & M/c
2,50,000
Purchases
4,00,000
Sales Investments Furniture
5,90,000 1,00,000 30,000
Returns outward Dhoni's Drawings
Credit (Rs.)
5,000 20,000
P.T.O.
50
Sundry Debtors
1,80,000
Sundry creditors
2,70,000
Salaries
25,000
Wages
40,000
Insurance
25,000
General expenses
40,000
Advertisement (for 5 years from 1/4/15)
15,000
Interest & commission
15,000
Prepaid insurance
10,000
Miscellaneous income
5,000
Total
14,35,000
14,35,000
Adjustments 1)
Closing stock was valued at Rs. 2,00,000
2)
Depreciation on M/c@10%
3)
Create reserve for doubtful debt@10%
4)
Outstanding salaries amounted to Rs.10,000
5)
Goods distributed as free samples Rs.10,000 OR
From the following Trial Balance of M/s Ram Co. Prepare:- Trading A/c, P&L A/c, Balance sheet for the year ending 31 st March 2016. [10] Particulars
Debit (Rs.)
Capital
45,000
Drawings
3,250
Land and buildings
12,750
Plant & M/c
7,250
Furniture
750
Carriage
2,125
Wages
10,750
Salaries
2,350
[5165]-101
Credit (Rs.)
2
P.T.O.
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Bad debts Reserve (1-4-15) Sales
1,250 47,500
Return inward Bank Charges
900 750
Taxes Discount Purchases
425 20,000
Bills receivable Debtors
750 18,900
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Creditors Stock(1-4-15)
6,125 12,500
Cash is hand Bank Loan Total
7,000 1,00,450
515 1,00,450
Adjustments 1) Closing stock (31-3-2016) Rs. 3,625/2) 3) 4) 5)
Providing 10% depreciation p.a. on all types of fixed assets Allow interest on capital @5% p.a. No interest is to be charged on drawings. Increase bad debts reserve to Rs.1,750 Make a provision for commission to the General Manager on gross profit@2%
Q3) From the following transactions, prepare a store ledger A/c showing pricing [10] of material on LIFO basis. (Last in First out basis) Date Particulars Units cost per unit 1/5/17
Op.stock
600 units
@Rs. 14 each.
3/5/17 6/5/17
Purchased Issued
300 units 500 units
@ Rs. 15 each
7/5/17 8/5/17
Purchased Issued
900 units 600 units
@ Rs. 16 each
12/5/17 23/5/17 27/5/17
Issued Purchased Issued
200 units 400 units 500 units OR
[5165]-101
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@ Rs.18 each
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The accounts of G.B. Manufactures Ltd. for the year ending 31 st Dec. 2016. as given below. Particular Amt. (Rs.) Stock of RM (1-1-2016) 16,720 Material purchased 25,900 Travellers commission 1,078 Depreciation on office furniture 42 Rent & insurance (factory) 1,190 Productive wages 17,640 Directors fees 840 General expenses 476 Gas & water (Factory) 168 Travelling exp. 294 Sales 76,000 Managers salary (Factory) 1,000 Managers salary (office) 500 Depreciation on plant & M/c 1,820 Discount allowed 406 Repairs plant & M/c 623 Carriage outward 602 Direct expenses 1,001 Rent & insurance (Office) 280 Gas & water (office) 56 Stock of material on (31-12-2016) 8,792 Profit 8,156 Prepare a cost sheet showing a) Material consumed b) Prime cost c) Factory cost d) Cost of production e) Total cost Q4) "R-Dture" company limited is expecting to have cash in hand of Rs. 25,000 on 1st April 2016. [5] i) You are required to prepare cash Budget during the three months, April to June 2016. The following information is supplied to you. Month Sales(Rs.) Purchases (Rs.) Wages(Rs.) Expenses(Rs.) February 70,000 40,000 8,000 6,000 March 80,000 50,000 8,000 7,000 April 92,000 52,000 9,000 7,000 May 1,00,000 60,000 10,000 8,000 June 1,20,000 55,000 12,000 9,000 [5] ii) Write note on labour variance OR [5165]-101
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i) ii)
Q5) i)
ii)
Write note on budgetory control system. From the following calculate a) Material cost variance b) Material price variance Material Standard Qty. Price Total Qty. (Rs.) (Rs.) X 2,500 6.00 15,000 2,000 Y 2,000 3.75 7,500 2,500 Z 1,500 3.00 4,500 2,000 Total 6,000 27,000 6,500
Actual Price (Rs.) 6.00 3.60 2.80
Total (Rs.) 12,000 9,000 5,600 26,600
From the following find out a) P/v ratio b) Fixed cost Sales(Rs.) Profit (Rs.) Period I 10,00,000 1,50,000 Period II 12,00,000 2,30,000 Short note on "Uses of marginal costing". [10]
i)
ii)
OR Reno manufacturing Ltd. furnishes following data. Particulars Amt.(Rs.) Sales 1,50,000 (–) Variable cost 1,20,000 Contribution 30,000 (–) Fixed cost 20,000 Profit 10,000 You are required to calculate a) P/v ratio b) BEP (sales) Explain the use of marginal costing in "make or buy decision".
[5165]-101
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Total No. of Questions : 5]
P2146
[5165]-101 M.B.A. (Semester - I) 101 : ACCOUNTING FOR BUSINESS DECISIONS (2013 Pattern) Time : 2½ Hours] Instructions to the candidates:1) All questions are compulsory. 2) Each question has an internal option. 3) Each question carries 10 marks. 4) Use of simple calculator is allowed.
Q1) a) b)
Q2) a)
b)
Q3) a)
[Max. Marks : 50
Distinguish between management accounting and financial accounting. OR Explain the concept of management accounting. Discuss the utility of management accounting. What is mean by financial statements? Explain the objectives of financial statements. OR Do you think that the financial statements of proprietary and limited companies are same? Justify. The M/s Modern Ltd. Company submits the following information as on 31st March 2015. Prepare a statement of cost and find out sales. Particulars Amount (Rs.) Opening stock of Raw materials 40,000 Purchases 3,00,000 Closing stock of Raw materials 20,000 Direct labour 1,20,000 Factory lighting 15,000 Power & fuel 30,000 Office rent 25,000 Printing & stationery 10,000 Office furniture 20,000 Opening stock of finished goods 11,200 Closing stock of finished goods 32,400 Selling & distribution overheads 20,000 Profit 1,39,700 OR 6
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b)
Classify the following items as 1)
Factory overhead
2)
Office overhead
3)
Selling & distribution overhead
4)
Items excluded from cost sheet
i)
Indirect material
ii)
Printing & stationery
iii)
Telephone & telegram
iv)
Travelling expenses
v)
Factory insurance
vi)
Supervisor's salary
vii) Show room expenses viii) Bad debts ix)
Depreciation of factory building
x)
Interest on capital
Q4) a)
The store ledger of XYZ Ltd. company reveal the following entries of a particular material. Calculate the value of closing stock as on 31 st January 2016 by adopting FIFO method. Date
Purchases Qty.
Rate
2/1/2016
4,000
1.80
5/1/2016
2,000
1.75
Issues Qty.
8/1/2016
10,000
11/1/2016
5,000
14/1/2016
3,000
1.85
28/1/2016
3,000
1.90
30/1/2016
10,000
Opening stock as on 1/1/2016 was 20,000 units valued at Rs.40,000 OR
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b)
Q5) a)
PH Ltd. is a manufacturing company having three production departments (A,B & C) and two service departments (X & Y), for the month of December 2015. Particulars Rs. Factory Rent 4,000 Power 2,500 Depreciation 1,000 Indirect labour 9,000 Additional information Particulars A B C X Y Direct materials 1,000 2,000 4,000 2,000 1,000 Direct wages 5,000 2,000 8,000 1,000 2,000 Area (sq.ft.) 500 250 500 250 500 Capital value of Assets 20,000 40,000 20,000 10,000 10,000 Horse power of machine 50 40 20 15 25 You are required to show a statement of distribution of overheads to various departments. From the following information compute i) Direct material price variance ii) Direct material usage variance iii) Direct material mix variance Particulars Qty.(Kgs.) Material A Material B Material C
b)
100 200 200 500
Standard Unit Total price 20 2,000 30 6,000 60 12,000 20,000
Actual Qty.(kgs.) 50 100 150 300
Unit price 30 60 50
OR The following data are obtained from the records of a company 2014 2015 Sales Rs.80,000 Profit Rs.10,000 Calcualte: i) Contribution ii) P/V ratio iii) Fixed cost iv) BEP in sales (Rs.)
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Rs.90,000 Rs.14,000
Total 1,500 6,000 7,500 15,000
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Total No. of Questions : 9]
SEAT No. :
[Total No. of Pages : 4
P2095
[5165]-12
M.B. A. 102 - MANAGEMENT ACCOUNTING (2008 Pattern) Time : 3 Hours] [Max. Marks : 70 Instructions to the candidates: 1) Question No 1 is Compulsory. 2) Solve any Two questions from Section-I and Two questions from Section-II. 3) Figures to the right indicate full marks.
Q1) Explain the concept of Budget. Briefly explain the various types of budgets? [10]
SECTION - I
Q2) What is meant by Management Accounting? Discuss its scope, nature, advantages [15] and disadvantages.
Q3) Define standard cost. Write the advantages and disadvantages of standard costing. [15]
Q4) Explain the Material Issue Procedure. Enumerate the different methods of Pricing Issue of Materials. [15]
Q5) Write short notes on (Any three)
a)
Labor Turnover
b)
Parties or users interested in accounting
c)
Capital Expenditure and revenue Expenditure
d)
Journal and ledger
e)
Idle Time.
[15]
P.T.O.
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SECTION - II
Q6) From the following Trial balance, Prepare Trading and Profit and Loss accounts for the year ended 31 st Mar. 2012 and a Balance Sheet as on 31 st [15] March 2012. Trial Balance As on 31st March 2012 Particulars
Amount
Drawings
4,500
Purchases
20,000
Particulars
Capital
24,000
Sales
30,500
Return In wards
1,500
Discount
Opening Stock
8,000
S. Creditors
Salary
4,200
Bills Payable
Wages
1,200
Rent
350
Bad debts
400
Discount
700
S. Debtors
1,900 10,000 2,500
14,000
Cash
260
Bank
5,940
Insurance
400
Trade Expenses
300
Printing
150
Furniture
2,000
Machinery
5.000
Total
Amount
68,900
Total
68,900
Adjustments: 1)
Closing Stock was valued at Rs. 7,000/-
2)
Insurance was prepaid to the extent of Rs.60/-
3)
Outstanding Liabilities were:- Salary - Rs.200/-, Wages - Rs. 200/-
4)
Make provision for doubtful debts at 5% on S. Debtors.
5)
Interest on Capital 5% per annum.
6)
Depreciate Machinery at 5% & Furniture at 10%.
7)
Provide for discount on creditors at 1%.
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Q7) a)
Two competing companies ABC Ltd & XYZ Ltd, Produce & Sell the same type of product in the same market. For the year ended March [6] 2012 their forecasted profit and loss account is as follows :
Particulars
ABC Ltd
Sales
XYZ Ltd
Rs. 2.50.000
Less:- VC
Rs. 2,00,000
Fixed cost
Rs. 25,000
Rs. 2,50,000 Rs. 1,50,000
Rs. 2,25,000
Rs. 75,000
Rs. 2,25,000
Forecasted Net Profit before tax
Rs. 25,000
Rs. 25,000
You are required to compute :1)
P/V Ratio,
2)
Break-Even Sales Volume. You are required to state which company is likely to earn greater profits in condition of :-
b)
a)
Low demand,
b)
High demand.
From the following particulars of a Manufacturing firm, prepare a Cost sheet :[9] Items
Amount
Stock of Materials on 1-1-2012 Purchase of Raw Materials in 1-1-2012 Stock of Finished Goods on 1-1-2012 Productive Wages
20,000 5,50,000 25,000 2,50,000
Finished Goods
12,00,000
Works Overhead charges
75,000
Office & General Expenses
50,000
Stock of Materials on 31-01-2012
70,000
Stock of Finished Goods on 31-01-2012
30,000
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Q8) For Production of 10,000 electoral automatic irons, the following are the budgeted expenses
Items
Per Unit
Direct Materials
Rs.30
Direct Labor
Rs.15
Variable Overheads
Rs.12.5
Fixed Overheads (Rs.75,000)
Rs.7.5
Direct Variables
Rs.2.5
Administrative Expenses(Rs.25,000 fixed for all levels of production)
Rs.2.5
Selling Expenses (10% fixed)
Rs.7.5
Distribution Expenses (20% Fixed)
Rs.2.5
Total Cost Per Unit
Rs.80.00
Prepare a budget for production of 6,000 unit 7,000 unit 8,000 unit irons, [15] showing distinctly the marginal cost and total cost. Q9) For unit of Product X, the Standard Data are given below: Particulars
Amount
Materials 5 kg @ Rs.40 per kg Labor 40 hrs @ Re. 1 .00 per hour Total
200 40 240
Actual Data: Actual Production 100 Units
Materials 490 kg @Rs.42 per kg Labor 3960 hours @ Re. 1.10 per hour Total
Amount
20,580 4,356 24,936
Calculate: - 1) Material Cost Variance, 2) Material Price Variance, 3) Material Usage Variance, 4) Labor Cost Variance, 5) Labor Rate Variance,
6) Labor- Efficiency Variance [15]
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Total No. of Questions : 5]
SEAT No. :
P3869
[Total No. of Pages : 5
[5070]-5001 M.B.A. (Semester - I) 101 : ACCOUNTING FOR BUSINESS DECISIONS (2016 Pattern) Time : 2¼ Hours]
[Max. Marks : 50
Instructions to the candidates: 1) All questions are compulsory. 2) Each question has an internal option. 3) Each question carries 10 marks. 4) Figures to the right indicates marks for question / sub question. 5) Use of simple calculator is permitted (as applicable)
Q1) "Financial Accounting and Management Accounting are not same". Explain.[10] OR Write in detail accounting conventions with suitable example. Q2) Following is the Trial Balance of ABC as on 31/03/2015. Prepare Trading Account, Profit & Loss Account for the year ended 31/03/2015 & prepare Balance Sheet as on that date. [10] Debit Balance Amount (Rs) Credit Balance Amount (Rs.) Opening stock 25,000 Creditors 25,000 Plant 1,64,000 Bills payable 25,000 Rent 20,000 Capital 3,25,000 Salaries 30,000 Sales 4,00,000 Wages 20,000 Carriage Inward 2,000 Carriage Outward 3,000 Factory Rent 5,000 Purchases 2,25,000 Insurance 1,000 Furniture 80,000 Debtors 2,00,000 7,75,000 7,75,000 P.T.O.
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Additional Information : a)
Closing stock valued Rs. 25,000/- as per market value and as per book value Rs. 20,000/-
b)
Depreciation on furniture Rs. 8,000/OR
Following is the Trial Balance & DEF as on 31/03/2010. Prepare Trading Acount, Profit and Loss Account for the year ended 31/03/2010 and Balance sheet as on that date. Debit Balance Opening Stock Machinery
Amount (Rs) Credit Balance 15,000 2,00,000
Bank Loan Capital
Insurance
1,000
Creditors
Printing & stationary
5,000
Sales
Telephone charges
500
Wages
25,000
Advertising
15,000
Purchases Returns Inward Motor Van Debtors Motive & Power
Returns outward
Amount (Rs.) 50,000 2,75,000 35,000 1,86,500 1,500
1,00,000 1,000 30,000 1,50,000 5,500 5,48,000
5,48,000
Additional Information a)
Closing stock valued at Rs. 5,000/-
b)
Wages outstanding Rs. 5,000/- and prepaid insurance Rs. 500/-
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Q3) a)
b)
Explain sunk costs with suitable example.
[5]
From the following information you are required to calculate prime cost, [5] works cost, total cost of production, cost of sales and profit. Particulars
Amount (Rs.)
Particulars
Amount (Rs.)
Direct Labour
1,00,000
Direct Expenses
1,50,000
Factory overheads
2,00,000
Office overheads
1,80,000
Direct Material
5,00,000
Sales
Selling &
15,00,000
50,000
Distribution Overheads OR a)
State in brief objectives of cost accounting.
b)
Prepare a cost sheet showing prime cost, works cost, Total cost of production, cost of sales and profit from the following information related to Chennai pvt. Ltd. Chennai. Particulars Sales
Amount (Rs.)
Particulars
Amount (Rs.)
5,00,000
Direct Wages
50,000
Direct Expenses
50,000
Factory Rent
20,000
Storekeeper salary
10,000
Salary
Direct Material Showroom Rent
[5070]-5001
2,00,000 7,000
3
Director's fees
1,00,000 30,000
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Q4) ABC Ltd. Furnishes following data for the month of January, 2013. Prepare stores ledger account, pricing the material issue on the basis of LIFO method & ascertain the value of closing stock. [10]
Date
Particulars
1st
Opening stock
-
200 units @ Rs. 350/- per unit
9 th
Purchases
-
350 units @ Rs. 300/- per unit
12th
Issues
-
400 units
19th
Purchases
-
600 units @ Rs. 320/- per unit
20th
Issues
-
250 units
22nd
Purchases
-
400 units @ Rs. 340/- per unit
24th
Issues
-
400 units
25th
Purchases
-
100 units @ Rs. 300/- per unit
28th
Spoilage
-
20 units. OR
Aim Ltd. is divided into four departments P1, P2, P3 are producing departments and S1 is a service department. The actual costs for a period are as follows : Particulars
Amount Particulars
Amount
(Rs.)
(Rs.)
Rent
2,000 Supervision
3,000
Repairs to Plant
1,200 Fire Insurance Stock
1,000
Depreciation of Plant
900 Power
Insurance of Employees
300 Light
Wages
1,800 240
15,000 Materials
10,000
Following information is available in respect of the four departments. Particulars
P1
P2
P3
S1
Area (Sq. Meters)
1,500
1,100
900
500
No. of Employees
20
15
10
5
Total Wages (Rs.)
6,000
4,000
3,000
2,000
Value of Plant (Rs.) 24,000
18,000
12,000
6,000
Value of Stock (Rs.) 15,000
9,000
6,000
-
24
18
12
Total Materials (Rs.) 3,000
3,000
4,000
H.P. Plant
6 -
Apportion the costs to the various departments on the most equitable basis. [5070]-5001
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Q5) KLM industries furnishes following information for the level of output of [10] 1,000 units for the year 2010.
Selling Price Per Unit
= Rs. 100/-
Variable Cost Per Unit
= Rs. 40/-
Total Fixed Cost
= Rs. 30,000/-
Find : a)
P/V Ratio
b)
BEP in units
c)
BEP in sales
d)
The amount of sales required to earn profit of Rs. 42,000/- (assuming fixed cost in total remains same.) OR
From the following prepare cash budget for 3 months for January. February and March, 2012. Month
Total Sales
Materials
January
(Rs.) 40,000
(Rs.) 42,000
Overheads Production Selling& Dist (Rs.) (Rs.) (Rs.) 8,000 6,400 1,600
February
44,000
28,000
8,800
6,600
1,800
March
48,000
28,000
9,200
6,600
1,600
April
52,000
24,000
9,200
6,800
1,800
May
56,000
24,000
9,600
7,000
1,800
June
60,000
32,000
9,600
7,200
2,000
• •
Wages
Cash balance on January 1,2012 was Rs.20,000/A new machine is to be installed at Rs.60,000/- On credit, to be repaid by two equal installments in March & APril, 2012
•
Period of credit allowed by suppliers 1 month
•
Period of credit allowed to customers 1 month
•
Delay in payment of overheads 1 month
•
Delay in payment of wages 1 month
•
Assume cash sales to be 50% of total sales.
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