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Tuesday, November 24, 2015





Roll No……
Total No. of Questions: 07

Paper ID [MB103]
MBA (Sem.-1st)
ACCOUNTING FOR MANAGEMENT (MB-103)

Time: 3 Hrs.                                                                           Max. Marks: 60
Instruction to Candidates:
1.      Section-A is Compulsory.
2.      Attempt any Four questions from Section-B.

SECTION-A
(10 2=20)
Q1)
(a)    “The emphasis of financial accounting is different from that of Cost Accounting”. Comment.
(b)   Explain the steps (in sequence form) involved in the accounting cycle.
(c)    “Depreciation is an important source of funds (working capital)”. Do you agree. Justify your answer.
(d)   What do you mean by Cash Flow Statement?
(e)    “Fixed Costs are really variable. The more you produce the less they become”. Do you agree? Explain.
(f)    Distinguish between Materials Price Variance and Materials Usage Variance.
(g)   During the current year, AB Ltd. showed a profit of Rs. 1,80,000 on a sale of Rs. 30,00,000. The variable expenses were Rs. 21,00,000.
You are required to work out:
i)                    Break-even sales at present
ii)                  Break-even sales, if variable expenses increase by 5 percent.
(h)   What are the points of similarity and points of difference between budgets and standard costs?
(i)     Define Human Resource Accounting. Enlist the advantages of Human Resource Accounting.
(j)     How does Activity Based Costing differ from the traditional costing approach?
SECTION-B
(4 X 10=40)
Q2)      From the following Trial Balance extracted from the books of Ravi, prepare a Trading Account, Profit and Loss Account for the year ending 31st March, 2006 and a Balance Sheet as on that date.

Dr.
(Rs.)
Cr.
(Rs.)
Capital

20,000
Drawings
1,700

Plant & Machinery
12,000

Horses & Carts
2,600

Debtors
3,600

Creditors

2,600
Purchases & Sales
2,000
4,200
Wages
800

Cash at bank
2,600

Salaries
800

Repairs
190

Opening Stock
1,600

Rent
450

Manufacturing Expenses
150

Bills Payable

2,350
Bad Debts
500

Carriage
160


The following adjustments are to be made:
(a)    Closing Stock Rs. 1,600.
(b)   Depreciate Plant and Machinery – 10%; Horses & carts -15%
(c)    Allow interest on capital at 5% p.a.
(d)   Rs. 150 is due for wages
(e)    Paid Rs. 50 as Rent in advance.
Q3.     Explain, in detail, the different methods used for analysis and interpretation of financial statements.
Q4.      The following information was taken from the financial statements of XYZ Ltd. (amount in thousands of rupees).
Particulars
Year 1
Year 2
Year 3
Total Assets
750
850
860
Credit Sales
420
520
550
Cost of Goods Sold
450
595
645
Cash
50
60
55
Debtors
150
165
180
Inventory
130
165
180
Net Fixed Assets
120
260
250
Creditors
75
85
100
Short-term Debt
125
175
170
Long-term Debt
125
185
175
Equity
125
200
210

            Calculate following ratios (indicating efficient use of assets) and discuss potential source of trouble.
(a)    Current Assets Turnover
(b)   Debtor’s Turnover
(c)    Inventory Turnover
(d)   Fixed Assets Turnover
(e)    Total Assets Turnover
Note: Debtors and Inventory at the end can be taken where opening balances are not available.
Q5. Discuss in detail, the various basis of classification of cost and various types of cost.
Q6. XYZ Ltd. chain of shoe stores. The stores sell 10 different styles of men’s shoes with identical purchase costs and selling prices. The company is trying to determine the desirability of opening another store, which would have the following expense and revenue relationships per pair.
Variable Data
Rs.
Selling Price
30.00
Cost of shoes
19.50
Salesmen’s Commission
1.50
Total Variable Expenses
21.00
Annual fixed Expenses:
Rs.
Rent
60,000
Salaries
2,00,000
Advertising
80,000
Other Fixed Expenses
20,000
Total Fixed Expenses
3,60,000

Required to calculate the following. (consider each question separately)
(a)    What is the Annual Break-even Point in sales amount and in unit sales?
(b)   If 35,000 pairs of shoes are sold, what would the store’s net income be?
(c)    If the store manager was paid Rs. 0.30 per pair as commission, what would the annual break-even point be in sales amount and in unit sales?
(d)   Refer to the original data. If the store manager was paid Rs. 0.30 per pair as commission on each pair sold in excess of the break-even point, what would be the store’s net income if 50,000 pairs were sold?
(e)    Refer to the original data. If sales commissions were discontinued in favour of Rs. 81,000 increase in fixed salaries, what would be annual break-even point be in amount and in unit sales?
Q7. Define a Responsibility centre. Why are responsibility centres created? Explain the various kinds of responsibility centres. 

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