Download JNTUA MBA 2017 Nov 3rd Sem 12E01303 Cost & Management Accounting Question Paper

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Code: 12E01303

MBA (Finance) III Semester Regular & Supplementary Examinations November/December 2017

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Time: 3 hours

COST & MANAGEMENT ACCOUNTING

(For students admitted in 2014, 2015 & 2016 only)

Answer any FIVE questions

All questions carry equal marks

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Max. Marks: 60

1. Explain the purpose and objectives of management accounting. To what extent does this subject differ from:
   1. Financial accounting.
   2. Cost accounting.
2. What is inventory control? What are the techniques of inventory control?

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3. What do you understand by the term "OVERHEAD"? Define the term and give its classification.
4. An article passes through three processes of manufacture. From the following figures, show the cost of each of three processes during the month of September 2017.
   

   	Process I Rs.	Process II Rs.	Process III Rs.
   Materials used	15,000	5,000	2,000
   Labour	8,000	20,000	6,000
   Direct expenses	2,600	7,200	2,500

5. The indirect expenses amounting to Rs.8,500 may be apportioned on the basis of wages. No amount need be taken of stocks in hand and work-in-progress at the beginning and close of the month. The number of articles produced during the month, is 240.
   A radio manufacturing company finds that while it costs Rs.6.25 each to make component X273 the same is available in the market at Rs.5.75 each, with an assurance of continued supply. The break-down of cost is:
   

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   Materials	Rs. 2.75 each
   Labour	Rs. 1.75 each
   Other variables	Rs. 0.50 each
   Depreciation & other fixed costs	Rs. 1.25 each

   1. Should you make or buy?
   2. What would be your decision if the supplier offered component at Rs.4.85 each?
6. 1. What do you mean by budgetary control?
   2. Write short notes on: (i) Master Budget. (ii) Flexible budget. (iii) Zero based budget.

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7. What do you mean by standard costing and its advantages along with limitations?
8. What is inter-firm comparison? Discuss need and types of comparisons with advantages.

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