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Cost & Management Accounting
1. Mr.
Albert the owner of Raghullila, a manufacturing company is puzzled about how to
put a check on the materials in and out and for that he decides to maintain
periodic accounts. Discuss which method of accounting for material control he
should adopt? Give sufficient reasons to support your answer. (10 Marks )
2. You
being on the board of advisory of Simplex Ltd are of the opinion that in order
to evaluate the performance of our company management accounting is as
important as financial accounting. Support your views by explaining the nature
and objectives of management accounting. (10 Marks )
3. A) A
manufacturing concern which has adopted standard costing furnishes
Following
Information: Standard Material for 70 kg of Finished Products 100 kg
Price of
Materials @1 per per Kg
Actual: Output 2,10,000 Kg
Materials used 2,80,000 Kg
Cost of
materials ` 2,52,000
Calculate
(a) Material Usage Variance (b) Material Price Variance (c) Material Cost
Variance (5 Marks)
3. B) A
worker takes 6 hours to complete a job under a scheme of payment by results.
The standard time allowed for the job is 9 hours. His wage rate is Rs.15 per
hour. Material cost of the job is Rs.120 and the overheads are recovered at 15%
of the total direct wages. Calculate the wages under
A] Rowan
and
B]
Halsey system of incentive system. (5
Marks )
Assignment Solutions, Case study Answer sheets
Project Report and Thesis - Contact
www.mbacasestudyanswers.com
ARAVIND – 09901366442 – 09902787224
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