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8/3/2019 Management Accounting(2009)
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.0. '
,-"'"~ Roll No. :-.k.LB (J
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Prepare Final Account for the year, ending 31st March2008 after taking in to consideration of followingadjustments: '. , ',(1) ,Cl~~ing stock on 31st March 2008 Rs. 28,400 J
, '(2) Interest accrued on fixed deposits in Bank for 3 months,'commission received in adv" Rs. 400.(3) Further, Bad-debts Rs. 500 and maintain provision forbad-debts at 5% on deburrs.----
u$?&D
~ Depreciate Building by 5%.(5) Goods'worth Rs. 300 were donaJed for whi~h no entrywas made in the books - C(6)' Provide ,for M,~nag~~_'~~~o~~ission 5% on net profit'after charging this comniission.,---- l(
3, (a) From the Balance sheets an,.d,~nformation given belo~prepare 'a statement of souJ,'ces' and uses' for the yea2008: r '
Liabilities 2007 2008 Assets 2007 20081, " Rs.:s. Rs. Rs.Creditor 40,000 44,000 Cash ./ 10,000 7,000Loan from-A 25,000 - Debtors -../ 30,000 50,000Loan from Bank 40,000 50,000 ' Stock ../ 35)000 25,000Capital 1,25,000 1,53,000 Machinery 80;000 55,000-
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Durin! .he "year 2008 a Machine, costing Rs.-.1QJill.Q.(~ccumu~te- , depreciation Its. ~,OQJlJl 'was sold' fo;Rs. ~_ ~.e provision for ~epre~atiQll on Jan. 20.08and 31st De 2008, were Rs. 25,000 and Rs. 40,000, - . ,respectively. Ne't profit for the year 2008 was amounted
"
to Rs. 45,000. '~~%eflJD
(b) Write notes on : ' ,. ~ ~tdevelopm
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4, ,., (a) Following informations are obtained from the books of Varun, " 'Textiles Limited and you are required to ascertain cash from--
operation there from for th~ear 2007-08 :
4
-1\
'
.'Additional information for the year' 2007-08 :
(
, "
\ (i) Interest'6n debenture paid anq.-debited to profit and\ ' , . '. ' "", c~\ ~,loss' account for the year was Rs. 36,000 and interest,.,~~-;1'~ ,"' " ,-'
",,- """: received and credited !o profit' and loss account ,wasRs. 7,800. '. '
(ii) Amachine costing Rs. l~,OOOac
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,,~} :::':'o~~t ::O:o:':~:~~VV \'~.
' UVUA vdWt no. '-"OVU}'.,'.
'
(iv) Interim !i~d paid ~s. 16,000 an~e tax paidRs. 76,ObQ /. .~ . . 8(b) Write short notes on :
(i) Controllable costs and uncontrollable costs(ii) Opportunity cost and sunk cost.
65 (a) In a factory three products are produced using sameinputs. The particulars related. to these products are as
/ .under. .
. Fixed cost Rs. 16,000~State Which product is better to be produced and sold'if: '\ .
'. o
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,...,..,..9I '
(c) There is restricted on total sales in amount.(d) There is short~ge of material: : , '; /' \ .(e) There is shortage 6f skilled l~bour hours(f) There is limited availability of machine h~urs.
\ 10(b) ~~l~: dlffere.nt stages of activity based costing. 4
6..
.(a) "Budgetary control helps in business progress." Critically
examine this statement. 4(b) Calculate:
(i) Activity ratio(ii) Capacity ratio(iii) EfficieI.1cy ratio and(iv) Calender ratio from the following information.
No. of working days',Output (in units)
- . Budget forJuly 200825.
Actual for'July 200827.
I."JD.Hours per unit o~ output
6003
4'..,,-\ '
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Direct material Rs. 4, Direct wages Re. 1, Work overhead(50% fixed) Rs. 6, and selling overhead (25% varin g)
,...,." ~,
Re. 1.During the coming year following increases are anticipated:(i) Fixed cost will go up by 10%(ii) Rates of direct labour will increase by ~O%(iii) Rates of direct material will incre~se by 10%(iv) Selling price cannot be increased if sales in units will
be maintained at current level of sales.Under the circumstances he obtains an unexpected
order for 2000 toys. What :Minimum price will you recommend........
for acceptIng the order to ensure the overall profits of'Rs. 18,050 to the toy manufacture.
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SECTION - B7 From the information given bel?w prepare estimate of working
capital requirement at the end of the year 2008 :Budgeted sales for the year 2008 Rs. 9,00,000
t Estimated cash sales and credit sales ratio 1 : 4Debtors velocity ...,~ 2 months. ; ,
\' ",' / - ,Estim~~~d/gross profit .~ ::: 20% of sales'L-"~-;:'~ -Oper,ating ratio. ... "... ;' 90%Stock velocit y ... ... ."""'"'''' 8I '
IM6105} IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII~0'1" 6'105 . 6 [Contd...-
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Proprietary funds to fixed assets '"'''''''''''''''''''''''''''''''''' 0.80.Time lag in payment of operatjng expenses ! monthLiquidity ratio. :.. 1.8Net profit on proprietory fun as : "15%
Closing stock level is expected to increase by 40% overopening stock.
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--.
\ ~~-;-\'_c~'(
. 1M6i 05] IIIIIIIIIIIIIIIIIII~IIIIIIIIIIIIIIIIIII . 7 [ 9000 ]