University Of Pune Question Paper
M. M. M. ( Semester - I ) Examination - 2012
FUNDAMENTALS OF MANAGEMENT ACCOUNTING
(New 2008 Pattern)
Time : 3 Hours] [Max. Marks : 70
Instructions :
(1) Attempt any three questions from section I and any two from
section II.
(2) All questions carry equal marks.
(3) Use of simple calculator is allowed.
SECTION - I
Q.1) Define the term ‘Standard Costing’. State advantages and limitations of
Standard Costing.
Q.2) What is Management Accounting ? Write the objectives of Management
Accounting.
Q.3) What do you mean by Overheads ? Explain the terms Under-absorption
and Over-absorption of Overheads.
Q.4) Write short notes : (Any Two)
(a) Break-even Point Sales
(b) Advantages of Cost Accounting
(c) Cash Budget
(d) FIFO
SECTION - II
Q.5) The trading results of a company for two periods are as under :
Period Sales (Rs.) Profit (Rs.)
1 1,30,000 6,000
2 1,50,000 10,000
You are required to calculate :
(a) Profit Volume Ratio
(b) Fixed Cost
(c) Break-even Point Sales
(d) Profit when Sales are Rs. 1,10,000.
Q.6) Prepare Flexible Budget for Overheads on the basis of data given below.
Ascertain Overhead Rates at 50%, 60% and 70% capacity :
Particulars At 60% Capacity (Rs.)
Fixed Overheads :
Depreciation 20,000
Salaries 40,000
Insurance 10,000
Semi-variable Overheads :
Repairs and Maintenance (20%) 30,000
Electricity (50%) 24,000
Variable Overheads :
Indirect Material 36,000
Indirect Wages 48,000
Total Overheads 2,08,000
Estimated Direct Labour Hours 2,86,500
[4278]-103 2 Contd.
Q.7) From the following figures extracted from the books of ABC Ltd. for the
year ended on 31-03-2012, prepare Cost Sheet showing :
(a) Prime Cost
(b) Works Cost
(c) Cost of Production
(d) Cost of Sales
(e) Profit
Particulars Amount (Rs.)
Direct Materials 70,000
Indirect Wages 10,000
Factory Rent and Rates 50,000
Indirect Materials 500
Depreciation of Office Assets 100
General Factory Expenses 5,700
General Selling Expenses 1,000
Office Salaries 4,500
Direct Wages 75,000
Office Rent and Rates 500
Depreciation of Machines 1,500
Managing Director’s Salary 12,000
Travelling Expenses 1,100
General Office Expenses 1,000
Carriage Outward 1,000
Sales 2,50,000
M. M. M. ( Semester - I ) Examination - 2012
FUNDAMENTALS OF MANAGEMENT ACCOUNTING
(New 2008 Pattern)
Time : 3 Hours] [Max. Marks : 70
Instructions :
(1) Attempt any three questions from section I and any two from
section II.
(2) All questions carry equal marks.
(3) Use of simple calculator is allowed.
SECTION - I
Q.1) Define the term ‘Standard Costing’. State advantages and limitations of
Standard Costing.
Q.2) What is Management Accounting ? Write the objectives of Management
Accounting.
Q.3) What do you mean by Overheads ? Explain the terms Under-absorption
and Over-absorption of Overheads.
Q.4) Write short notes : (Any Two)
(a) Break-even Point Sales
(b) Advantages of Cost Accounting
(c) Cash Budget
(d) FIFO
SECTION - II
Q.5) The trading results of a company for two periods are as under :
Period Sales (Rs.) Profit (Rs.)
1 1,30,000 6,000
2 1,50,000 10,000
You are required to calculate :
(a) Profit Volume Ratio
(b) Fixed Cost
(c) Break-even Point Sales
(d) Profit when Sales are Rs. 1,10,000.
Q.6) Prepare Flexible Budget for Overheads on the basis of data given below.
Ascertain Overhead Rates at 50%, 60% and 70% capacity :
Particulars At 60% Capacity (Rs.)
Fixed Overheads :
Depreciation 20,000
Salaries 40,000
Insurance 10,000
Semi-variable Overheads :
Repairs and Maintenance (20%) 30,000
Electricity (50%) 24,000
Variable Overheads :
Indirect Material 36,000
Indirect Wages 48,000
Total Overheads 2,08,000
Estimated Direct Labour Hours 2,86,500
[4278]-103 2 Contd.
Q.7) From the following figures extracted from the books of ABC Ltd. for the
year ended on 31-03-2012, prepare Cost Sheet showing :
(a) Prime Cost
(b) Works Cost
(c) Cost of Production
(d) Cost of Sales
(e) Profit
Particulars Amount (Rs.)
Direct Materials 70,000
Indirect Wages 10,000
Factory Rent and Rates 50,000
Indirect Materials 500
Depreciation of Office Assets 100
General Factory Expenses 5,700
General Selling Expenses 1,000
Office Salaries 4,500
Direct Wages 75,000
Office Rent and Rates 500
Depreciation of Machines 1,500
Managing Director’s Salary 12,000
Travelling Expenses 1,100
General Office Expenses 1,000
Carriage Outward 1,000
Sales 2,50,000
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