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Roll No……
Total No. of Questions: 07

MBA/MBA (IB) (Sem.-1st)
ACCOUNTING FOR MANAGEMENT
Subject Code: MB-103 (2009-2011)
Paper ID: [C0166]

Time: 3 Hrs.                                                                           Max. Marks: 60
Instruction to Candidates:
1.     SECTION-A is COMPULSORY consisting of TEN questions carrying  TWO marks each.
2.     SECTION-B contains SIX questions carrying TEN marks each and students has to attempt any FOUR questions.

SECTION-A

1.     Write short note on:
(a)  Accounting cycle
(b) Accounting information system
(c)  Debt equity ratio
(d) Acid test ratio
(e)  Working capital
(f)   Target costing
(g)  Classification of cost
(h) Business entity concept
(i)    Principle of conservatism
(j)    Absorption costing and marginal costing.

SECTION-B
2.     Discuss the concept of human resource accounting. Explain its importance in present context.
3.     “Management accounting aims at providing financial results of the business to the management for taking decisions”. Explain by bringing out advantages of management accounting,
4.     “Analysis without interpretation is meaningless and interpretation without analysis is impossible”. Discuss.
5.     (a) The format of Trading, Profit and loss account is given as under, fill in the blanks and complete these accounts with the help of given ratios.
(5)
TRADING, PROFIT & LOSS ACCOUNT
FOR THE YEAR ENDING MARCH 31, 2010
Particulars
Amount(Rs.)
Particulars
Amount (Rs.)
To Cost of goods sold
2,70,000
By sales
------
To Gross Profit c/d
------



------

------
To Operating expenses
------
By Gross Profit b/d
------
To Non-Operating expenses
10,000


To Net Profit




------

------

          Accounting ratios:
(i)                Gross profit to cost of goods sold: 33.33%
(ii)             Net Profit to sales:       12%
(b) Explain the following terms and show their importance:
(i) Price Earning ratio
(ii) Debt Service coverage ratio
(5)
6. The expenses for budgeted production of 10000 units in a factory are furnished below:

Per units(Rs.)
Materials
70
Labour
25
Variable overhead
20
Fixed overhead (Rs. 1,00,000)
10
Variable expenses(Direct)
5
Selling expenses(10% fixed)
13
Distribution expenses(20% fixed)
7
Administration expenses(Rs. 50,000)
5
Total Cost per unit (to make and sell)
155
         
          Prepare a budget for production of
(a)  8000 units
(b) 6000 units
(c)  Indicate cost per unit at both the levels.
(Assume that administration expenses are fixed for all levels of productions)

7.     From the following trial balance of Mrs. A, prepare trading and profit and loss account and a balance sheet for the year ending 31st March 2010.
Particulars
Debit Rs.
Credit Rs.
A’s capital

90,000
A’s drawings
6,480

Land and building
25,000

Plant and machinery
14,270

Furniture and fixtures
1,250

Carriage inwards
4,370

Wages (manufacturing)
21,470

Salaries
4,670

Bad debt reserve (as on 1st April 2009)

2,470
Sales

91,230
Sales returns
1,760

Bank charges
40

Coal, gas and water
720

Rates and taxes
440

Sales tax
400

Discount account

190
Purchases

8,460
Purchase returns
42,160

Bills receivable
1,270

Trade expenses
1,990

Sundry debtors
37,800

Sundry creditors

12,100
Stock (1st April 2009)
26,420

Apprentice premium (paid by an apprentice in factory)

500
Fire insurance
490

Cash at bank
13,000

Cash in hand
850

Bad debts
100

Total
2,04,950
2,04,950

Adjustments to be made for the current period are:
(a)  Charge depreciation on land and building at 2.5% on plant and machinery at 10% and on furniture and fixtures at 10%.
(b) Bad debts Rs. 800. Make a reserve of 5% on the sundry debtors for bad debts.
(c)  Carry forward the following unexpired amounts:
(Rs.)
(i)                Fire insurances     125
(ii)             Rates and taxes    240   
(iii)           Apprentice premium      400
(d) Charge 5% interest on capital and on drawings.
(e)  Create a provision for discount on creditors at 5%.

(f)   The value of stock as on 31st March 2010 was Rs. 29,390.



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