Management Accounting SCDL

March 1, 2018 | Author: Jeet Kathuria | Category: Test (Assessment), Cost Accounting, Expense, Employment, Financial Transaction
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Management Accounting SCDL sample question paper...

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SCDL

Program Name: Subject: Assessment Name: Weightage: Total Marks: Duration:

PGDBA Management Accounting MA - Exam 70 70 80 mins

Online Examination: Online examination is a Computer based examination. Online examination comprises of Total 29 Questions - Out of 70 marks. Duration of online examination will be of 1 Hour 20 minutes (80 minutes).

Section - I Instructions: - It is compulsory and has total 3 Subjective Questions. - Students are required to solve any 2 Subjective Type Questions. Each question is of 5 marks. - Section – I is out of 10 Marks. Please refer following instructions regarding Subjective examination: - While attempting subjective examination Text formatting facility will be disabled such as use of bullets, making the text bold, underlining the text etc. Only normal character on the key board will be available. - Special characters available on the keyboard will be allowed. - Students can not attempt more than 2 questions out of given 3. - A blank (space typed) or any entry in the space provided will be considered as question is answered. - Hand written answers are not allowed. Subjective test can be answered by using key board. - No brail support shall be provided, but writer assistance shall be allowed. The student has to intimate it to SCDL well in advance by completing applicable formalities. - Answers for both the questions should not exceed more than 110 words. The maximum word limit per answer is 55 words (for Subjective part).

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SCDL

1) Explain with example the difference between Controllable Cost and Uncontrollable Cost. (5) A clear-cut distinction between controllable and uncontrollable costs may not be possible. Controllable cost indicates that cost, which can be controlled by a specific number of person(s) in the organisation. For example, a person in charge of a responsibility center may be in the position to control the costs in relation to that responsibility center. Uncontrollable cost indicates that cost, which cannot be controlled by a specific number of person(s) in the organisation. For example, the costs relating to one responsibility center cannot be controlled by a person who is in-charge of another responsibility center. 2) What does the comparative study of Halsey and Rowan System of total wages reveals? (5) A comparative study of total wages under both these systems reveals that if time saved is less than 50% of the standard time, Rowan system assures more wages than those under Halsey system. But if time saved exceeds 50% of the standard time, Halsey system proves to be more beneficial. In Rowan System, a less efficient worker gets the same bonus as a more efficient worker. As such, the Rowan System may be implemented in case of loose fixation of standards. The fall in bonus, as time saved increases, offsets the damage done by loose standards. 3) Write the steps involved in the process of establishing the standards. (5) Following steps are involved in the process of establishing the standards: (a) Study of technical and operational details of the organisation, such as the manufacturing process, levels of managements and their responsibilities, units and nature of inputs and outputs, details regarding wastes and losses, expected efficiency and capacity utilisation etc. (b) Study of existing cost accounting systems and formats in use. (c) Decision about the types of standards to be used.

Section 1 is complete. Please click on "Next" button to proceed.

Section - II Instructions: - It comprises of Objective Questions Only. - Total 60 marks are allotted for objective type questions. - The objective questions are of following type and carries marks as given under. Multiple Choice Multiple Response : 4 Questions - 16 Marks (Each 4 marks) Multiple Choice Single Response : 9 Questions - 18 Marks (Each 2 marks) True or False : 5 Questions - 5 Marks (Each 1 mark) Page 2 of 7

SCDL

Select a Blank Match the Column

: 5 Questions - 5 Marks (Each 1 mark) : 4 Questions - 16 Marks (Each 4 marks)

Total Questions Total Marks

: 27 : 60

1) Match the Following (4) 1] Cost accounting 2] Book keeping 3] Management accounting 4] Financial accounting

1] Controlling the costs 2] Clerical in process 3] Analysis & interpretation of financial data 4] Recording of business transactions 5] Financial status 6] Managerial in process

2) Match the Following (4) 1] Purchases Day Book 2] Sales Day Book 3] Sales Return Register 4] Purchases Return Register

1] Credit purchases transactions 2] Credit sales transactions 3] Credit sales goods returned by the customer 4] Credit purchase goods returned to supplier 5] Cash purchases transaction 6] Cash sales transactions

3) One of the objective of the cost accountancy is presentation of statistical data or available information, which is most important part, in what way it helps to the business organization (2) 1] It helps in manipulation of files. 2] It helps to understand day to day business 3] It helps to reduce the workload in the business organization 4] It helps in decision making at managerial level 4) Insurance' is example of 'Expenses', which is one of the Element of costs, if it true, which justification is true regarding this (2) 1] This is the cost of services provided to the organization 2] This is the cost of commodities used by the organization 3] This is the profit decreasing factor. 4] Insurance cannot be the example of 'Expenses' which is one of the element of costs 5) In which category will you classify the provision for income tax as it is not as a part of regular operations of the organization? (2) 1] Non operating/Financial Investment 2] Operating financial Investment 3] Non-operating/Financial Expenses 4] Operating financial Expenses

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6) Employees who are actually get involved in manufacturing process, gets remuneration. That is known as indirect labour cost in manufacturing process. (1) 1] True 2] False 7) In a good wage payment system, :BLANK should be imposed on the wages which can be earned by an efficient worker. (1) 1] No lower Limit 2] No middle Limit 3] No upper Limit 4] No average Limit 8) In the functional area of management , budget to be prepared takes the form of personnel budget, in this personnel budget consideration is also required to be made of the overtime working or shift working. (1) 1] True 2] False 9) Which type of the costs are the standard costs (2) 1] They are prevailing costs in the market. 2] They are actual costs of the product. 3] They are estimated costs. 4] They are planned or ideal costs under the ideal situations. 10) Ledger or general ledger maintains all types of accounts broadly named as (2) 1] real,personal,nominal 2] actual ,nominal 3] recurring 4] saving account 11) What can be predicted regarding the degree of controllability over the cost in a very broad sense (4) 1] The variable costs are controllable at the top level management. 2] The fixed costs are controllable at lower level management 3] The variable costs are controllable at lower level management 4] The fixed costs are controllable at top level management 12) In the process of ascertaining the material cost :BLANK are also involved, which affects the material cost, either directly or indirectly. (1) 1] All the documents of accounting 2] A whole lot of organizational procedures 3] Both opening & closing stocks 4] Consumer's all comments 13) Directly required or Indirectly required type of classification is not possible in case of the commodities Page 4 of 7

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which are involved in the production process. (1) 1] True 2] False 14) Match the Following (4) 1] First In First Out (FIFO) 2] Last In First Out (LIFO) 3] Simple Average Method 4] Weighted Average Method

1] Material issues are valued at the old rate whereas closing stock is valued at current rate 2] Material issues are valued at the current rate whereas closing stock is valued at old rate 3] This considers the simple average of the rates of the material lots out of which material issues could have been made 4] In this accounting assumption, both the lot sizes as well as the prices of the lot are given the weight age 5] In this accounting assumption, only the lot sizes are given the weight age. 6] This method assumes that the stock should always be shown at minimum value and hence the issues should always be valued at highest value of receipts.

15) The success of procedures to control the overheads depend upon the classification of the overhead. From which angles this classification can be done (4) 1] Function- wise classification 2] Variability-wise classification 3] Normality-wise classification 4] Production process-wise classification 16) Which sentence does explain the nature of the Semi-variable Overheads (2) 1] These overheads are uncontrollable in nature. 2] These overheads indicate the costs which vary directly in proportion to volume of output. 3] These overheads are Indirect in nature. 4] These overheads may remain fixed at certain level of activity while may vary proportionately at other levels of activity 17) If the organization follows the policy of considering predetermined overhead absorption rates, the situation of under absorption arises :BLANK (1) 1] If the overheads absorbed are less than the actual overheads. 2] If the overheads absorbed are more than the actual overheads. 3] There is no situation like under absorption or over absorption as such. 4] When overheads absorbed and actual overheads match. 18) From the given options which is one of the basic assumption on which the entire technique of the marginal costing is based (2) 1] Whatever sold by the organization can not be sold off entirely. 2] Per Unit selling price remains constant at all the levels of activities. 3] Per Unit selling price frequently changes as the levels of activity changes. 4] There are so many variations due to stock. Page 5 of 7

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19) In the process of Marginal costing, the closing stock of finished goods and semi-finished goods is valued :BLANK (1) 1] Without considering the variable cost 2] After considering variable costs only. 3] After considering variable costs as well as fixed costs also. 4] Starting at zero balance. 20) By preparing the cash budget, it is possible to predict excess or shortage of cash,. If the excess cash is estimated, what can be happened in general (2) 1] It may be distributed as a profit. 2] It may be possible to explore the investment opportunities. 3] It may be used to recover the fixed cost in short run. 4] It may be distributed as a fixed cost. 21) Adjusted Profit/Loss Methods of preparing the cash budget is useful for which type of estimates (2) 1] This method is useful for long term estimates. 2] This method is useful for short term estimates. 3] This method means statement of expenses only 4] Nothing can be answered. 22) From the given options , which statements shows nature of 'Expected standards' (4) 1] These standards are more realistic in nature. 2] These standards are more theoretical in nature. 3] They are not useful from cost control point of view. 4] They are more useful from the cost control point of view. 23) What are the limitations of the Normal standards (4) 1] There are no big limitations as such of normal standards. 2] The inefficiencies of the past performance, if any, get reflected in these type of standards. 3] The problems faced in estimating the future over a longer period of time restrict the use of these standards for cost control purposes. 4] The basic limitation of these type of standards causes frustration among the staff. 24) Budgets are the ceiling or limits on expenses above which actual expenditure should not normally exceed and if it does:BLANK (1) 1] The scope of budget will become more wider. 2] Actual performance will get affected 3] The planned profits will be reduced 4] Actual performance will not get affected 25) A more searching analysis is required to be made in case of standard costing variances than in case of budgetary control variances. (1) Page 6 of 7

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1] True 2] False 26) Records of the past performance, is one of the factors, which should be taken in to consideration as a basis, while deciding Labour Efficiency Standards. (1) 1] True 2] False 27) Match the Following (4) 1] Idle Time Variance 2] Gang Composition Variance 3] Labour Rate Variance 4] Labour Efficiency Variance

1] Standard Rate x Idle Hours 2] Standard Rate ( Revised Standard Hours – Actual Hours ) 3] Actual Hours ( Actual Rate – Standard Rate) 4] Standard Rate ( Actual Hours - Standard Hours ) 5] Standard Rate ( Standard Hours – Revised Hours ) 6] Standard Overheads Cost X Idle Hours

Section 2 is complete. Please click on "Next" button to proceed.

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