Accounting for Management Question paper of MBA Semester 1, Download Question Paper 7

Roll No…….

Total No. of Questions: 06

ACCOUNTING FOR MANAGEMENT(MB-103)

MBA

Time: 3 Hrs.                                                                           Max. Marks: 60

Note: All questions are compulsory. Each question carries 2 marks. Answer in 2-5 lines.

SECTION-A

1.      Define

(i)                 Human resource accounting

(ii)               Accounting as an information system

(iii)             Reducing balance method of depreciation

(iv)             Trend analysis

(v)               Labour variance

(vi)             Zero base budgeting

(vii)           Operating activities

(viii)         Cash Flow Vs Fund Flow statement

(ix)             Responsibility accounting

(x)               Going concern concept

SECTION-B

(10 x 2=20)

Note:Attempt any four questions out of six given. Each question carries 10 marks.

1.      Discuss the various branches of accounting.

2.      What do you mean by ratio analysis? Discuss various types of  ratios.

3.      How is marginal costing different from absorption costing? Discuss the applications, advantages and disadvantages of Marginal costing.

4.      Write short notes on the following:

(a)    Life cycle costing

(b)   Activity Based Costing

(c)    Target costing

(d)   Kaizen Costing

5.      The following are the balances of AB Ltd. As on 30^th June, 2011

	Dr.		Cr.
Cash in hand	540	Sales	98780
Cash at bank	2630	Return outwards	500
Purchases account	40675	Capital account	62000
Return inward	680	Sundry creditors	6300
Wages account	8480	Rent	9000
Fuel and power	4730
Carriage on sales	3200
Carriage on purchases	2040
Stock (1.7.2010)	5760
Building account	32000
Freehold land	10000
Machinery	20000
Patents	7500
Salaries	15000
General expenses	3000
Insurance	600
Drawings	5245
Sundry debtors	14500
	176580

Prepare trading and profit and loss account and a balance sheet as on 30^th June, 2011 after taking into account the following adjustments.

(i)                 Stock on hand on 30^th June, 2011 is Rs. 6800.

(ii)               Plant and Machinery is to be depreciated at 10% and patents at 20%.

(iii)             Salaries for the month of June 2011 amounting to Rs. 15000 were unpaid.

(iv)             Insurance includes a premium of Rs. 170 on a policy expiring on 31^st December, 2011.

(v)               Further bad debts are Rs. 725.

(vi)             Rent receivable Rs. 1000.

6.      The standard cost of a certain chemical mixture is:

40% material A at Rs. 40 per ton

60% material B at Rs. 30 per ton

A standard loss of 10% is expected in production

Actual cost of material used is:

90 tons of material A at a cost of Rs. 42 per ton

160 tons of material B at a cost of Rs. 28 per ton

Actual output is 230 tons.

Prepare a statement showing the standard cost of output and the variances that emerge.

(4 x 10=40)