Total No. of Questions : 5] SEAT No.

:
P3732 [Total No. of Pages : 4
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F.Y.M.B.A.
101-GC-01: MANAGERIAL ACCOUNTING
(2019 Pattern) (Semester - I) (101)
Time : 2½ Hours] [Max. Marks : 50
Instructions to the candidates:
1) All questions are compulsory.
2) Each question carries equal marks.

Q1) Attempt any 5 questions having 2 marks each. [10]

a) Define margin of safety.
b) Financial accounting is concerned with_______.
i) Recording of business expenses & revenue
ii) Recording of costs of products & services
iii) Recording of day to day business transactions
iv) None of the above
c) Explain the term of overheads.
d) Which of these is not an objective of cost accounting?
i) Ascertainment of cost
ii) Determination of selling price
iii) Cost control and cost reduction
iv) Assisting shareholders in decision-making
e) The correct form of accounting equation is________.
i) Assets – Receivable = Equity
ii) Assets + Receivable = Equity
iii) Assets – Liabilities = Equity
iv) Assets + Liabilities = Equity
f) _______cost refers to those cost which have already been incurred
and cannot be altered by any decision in the future.
g) Preliminary expenses are recorded in________.
h) Which concept states that “for every debit, there is a credit”?
i) Money measurement concept
ii) Accounting period concept
iii) Separate entity concept
iv) Dual Aspect concept
P.T.O.
Q2) Attempt any 2 questions having 5 marks each. [10]
a) Management accounting is the presentation of accounting information in
such a way as to assist the management in the creation of policy and in
the day to day operation of the undertaking. Explain the statement.
b) Explain the various accounting principles.
c) Differentiate between cost accounting & financial accounting.

Q3) Attempt any one out of two. [10]

a) Blue 7 pvt Ltd. produces plastic pots and furnish with you following
particulars. You are required to prepare a cost sheet for the period 31st
Dec. 2022 showing.
i) Prime cost,
ii) Works cost,
iii) Cost of production,
iv) Cost of sales
v) Profit and
vi) Cost per unit (unit produced 1000)
Particulars Amount Rs.
Material consumed 1,00,000
Wages 40,000
Power & fuel-factory 20,000
Depreciation of machinery 6,000
Repairs of machine 8,000
Depreciation of office furniture 2,000
Supervision Expenses-factory 2,000
Hire charges for machines of special -
Purpose in production 4,000
Wages paid to factory housekeeping 20,000
Audit fees 1,500
Director’s fees 7,500
Bad debts 2,500
Office expenses 3,500
Salaries 2,000
Rent factory 5,000
Sales 3,00,000
Salesmen salary 8,000
Advertising expenses 2,000
Delivery van expenses 8,000
Warehouse rent 6,000
Printing & stationery 1,000
Direct expenses 8,000
OR
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 b) From the following Trial Balance extracted from the books of Trish
trading as on 31st March 2022, Prepare final accounts as on 31st March
2022 after taking into consideration the adjustment given below the trial
balance.
Trial Balance
Particulars Debit Rs. Credit Rs.
Sundry Creditors 46,000
Rent 1,200
Cash in Hand 3,000
Cash at Bank 1,400
Stock on 1-4-21 16,000
Bad debts 1,000
Discount 400 1,000
Purchases & sales 1,10,000 1,68,000
Carriage on sale 3,600
Plant & Machinery 20,000
Sales return 8,000
Carriage on purchase 1,000
Furniture 12,000
Insurance 3,000
Salaries 6,000
Bills receivable 12,000
Drawings 12,000
Wages 12,000
Provision for doubtful debts 2,000
Capital 50,000
Sundry debtors 40,000
Commission 8,400
Purchases return 4,000
2,71,000 2,71,000
Adjustments:
i) Depreciate plants machinery at 10% and furniture at 5%.
ii) Insurance prepaid Rs. 200.
iii) Outstanding salary Rs. 1,000 and outstanding rent Rs. 200.
iv) Maintain R.D.D. at 6% on Debtors.
v) Closing stock Rs. 20,000/-
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Q4) Attempt any one out of two. [10]
a) Max Ltd. company furnishes you the following data relating to the year 2022.
First half of the year Rs. Second half of the year Rs.
Sales 45,000 50,000
Total cost 40,000 43,000
Assuming that there is no change in prices and variable cost and that the
fixed expenses are incurred equally in the two half year period calculate
for the year 2022.
i) P/V ratio.
ii) Fixed Expenses.
iii) Break-even sales.
iv) Percentage of margin of safety.
OR
b) MK Trader prepared the following budget estimated for the year 2020-21.
Sales 15000 units
Fixed cost Rs. 34,000
Sales Value Rs. 1,50,000
Variable cost per unit Rs. 6
You are required to calculate.
i) P/V ratio
ii) BEP sales
iii) Margin of safety

Q5) Attempt any one out of two. [10]

a) The following is the information given by DS industries for 50%
production (1000 units).
Raw material Rs. 100 per unit
Direct labour Rs. 80 per unit
Direct expenses Rs. 20 per unit
Factory expenses Rs. 1,00,000 (40% fixed)
Administrative expenses Rs. 50,000 (50% variable)
Prepare a flexible budget for production capacity at 80% and 100%.
OR
b) As a cost accountant you are required to assess material cost variance,
material price variance and material usage variance from the given
information.
Standard Actual
Quantity of material 5000 units 5500 units
Price per unit Rs.2 Rs.3

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