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PG-914
I Semester M.B.A. Degree Examination, February 2017
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(CBCS)
MANAGEMENT
Paper-1.3: Accounting for Managers
Time: 3 Hours
Max. Marks: 70
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SECTION -A
Answer any five of the following questions. Each question carries five marks. (5×5=25)
- What is GAAP? Explain the need for GAAP.
- Explain the factors influencing depreciation.
- Explain various sources of information for decision making to the stake holders of the Company.
- Explain how product price is fixed under:
- Traditional costing
- Target costing.
-
Sales Rs. Profit Rs. Year - 1 10,00,000 2,00,000 Year - 2 15,00,000 4,00,000 Your are required to calculate :
- P.V. Ratio
- Fixed cost
- Break even sales volume
- Sales to earn a profit of Rs. 3,00,000.
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- From the following data prepare flexible budget for production of 40000 units and 60000 units of product 'X' distinctly showing variable cost and fixed cost as well as total cost.
100000 units (per unit cost) Direct Material 90 Direct Labour 45 Direct variable expenses 10 Manufacturing variable overhead 30 Fixed production overhead 10 Administration overhead (fixed) 5 - Present the following information to show clearly to management :
- The marginal product cost and the contribution per unit.
- The total contribution and profits resulting from each of the following sales mixtures.
Product A B Direct Material 10 5 Direct wages 3 2 Variable expenses 100% of direct wages for both products Selling price 20 15 Fixed expenses: 800
Sales mixtures :
- 100 units of product A and 200 of B
- 150 units of product A and 150 of B
- 200 units of product A, and 100 of B.
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SECTION - B
Answer any three of the following questions. Each question carries 10 marks. (3x10=30)
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- What is window dressing of financial statements ? Explain the motives and forms of window dressing.
- "Costs may be classified in a variety of ways according to their nature and the information needs of management". Explain and discuss this statement giving examples of classification required for different purposes.
- A company having a net working capital of Rs. 2,80,000 as 31-3-2015 indicates the following financial ratios and performance figures :
- Current ratio 2.4
- Liquidity ratio 1.6
- Inventory turnover (on cost of sales) 8
- Gross profit on sales 20%
- Credit allowed (months) 1.5
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The company's fixed assets is equivalent to 90% of its net worth (share capital plus reserves) while reserves amounted 40% of share capital. Prepare the imaginary Balance Sheet of a company as on 31-3-2015 showing step by step calculation.
- From the following information prepare Cash Flow Statement according to A.S-3 (Indirect Method) :
Comparative Balance Sheet Excellent Ltd.
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Liabilities and Capital As at 31-3-2006 Rs. As at 31-3-2005 Rs. Assets As at 31-3-2006 Rs. As at 31-3-2005 Rs. Share capital 50,00,000 40,00,000 Fixed Assets 31,00,000 30,00,000 Reserves and Surplus 15,00,000 5,00,000 Investments 1,50,000 1,25,000 Secured Loans 35,00,000 40,00,000 Cash and Bank Balances 2,50,000 1,25,000 Current Liabilities 50,00,000 60,00,000 Stocks, Stores, Work-in-Progress 75,00,000 78,75,000 Sundry Debtors 40,00,000 35,00,000 1,50,00,000 1,45,00,000 1,50,00,000 1,45,00,000 - The net profit for the year after adjustment in respect of provisions for dividends and taxation was Rs. 10,00,000.
- There was addition to Fixed Assets during the year amounting to Rs. 4,00,000 and Depreciation for the year was Rs. 3,00,000.
SECTION - C
12. Case study: Compulsory. (1x15=15)
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Prepare a Balance Sheet in a vertical form as at 31-3-2016 from the following information of XYZ Ltd. as required under Part I - B of Schedule III of the Companies Act, 2013.
| Term loans | 10,00,000 | Sundry debtors | 12,25,000 |
| Sundry creditors | 11,45,000 | Miscellaneous expenses | 58,000 |
| Advances | 3,72,000 | Loans from debtors | 2,00,000 |
| Cash and bank balances | 2,75,000 | Provision for doubtful debts | 20,200 |
| Staff advances | 55,000 | Stores | 4,00,000 |
| Provision for taxation | 1,70,000 | Fixed assets (WDV) | 51,50,000 |
| Share premium | 4,75,000 | Finished goods | 7,50,000 |
| Loose tools | 50,000 | General reserve | 20,50,000 |
| Investments | 2,25,200 | Capital work-in-progress | 2,00,000 |
| Loss for the year | 3,00,000 |
Additional Information :
- Share capital consists of :
- 3,000 equity shares of Rs. 100 each fully paid up.
- 10,000 -10% redeemable preference shares of Rs. 100 each fully paid up.
- Term loans are secured.
- Depreciation on assets Rs. 5,00,000.
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