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DNYANSAGAR INSTITUTE OF MANAGEMENT & RESEARCH MBA-I/SEM-I/ASSIGNMENT (2016-17)

101 Accounting For Business Decisions

Instructions and evaluation criteria

  • 1. All questions are compulsory

Last Date of Submission 28/10/2016

  • 2. Answers should be hand written and on ruled sheets only

  • 4. Assignment must be submitted to the concerned faculty only

Q1. Explain the meaning and significance of:

  • a. Financial Accounting

  • b. Cost Accounting

  • c. Management Accounting

w.r.t. an organization of your choice (if you have any work experience you can choose the organization where you have worked, if not you can choose any organization). Your answer should cover the following points:

Brief description of the organization (in 3-4 sentences)

Meaning of financial accounting and it’s correlation with the selected organization

Types of ‘financial statementsprepared by the selected organization and their purpose

Meaning of cost accounting and it’s correlation with the selected organization

Types of cost statementsprepared by the selected organization and their purpose (if

no such statements are prepared, they you have to specify the reason of not maintaining such statements) Meaning of management accounting and its correlation with the selected organization

How management accounting can be useful in your selected’ organization

Q2. Following information relates to the purchases and issues transactions of XPZ category graphite at Kokuyo Camlin Limiteds store at Chakan Pune, prepare stores ledger account as per FIFO, LIFO simple average and weighted average method and ascertain the value of closing stock as on 31 st October 2016:

Date 1 st Oct

3 rd Oct 3 rd Oct 4 th Oct 5 th Oct 6 th Oct 7 th Oct

Particulars

Opening Balance 1500 units @ Rs. 25/-

Issued 700 units Issued 100 units Loss (Spoilage/destroyed/theft) 17 units Received from Vendor 200 units @ Rs. 24/- Refund of a surplus from a work order 15 units @ Rs. 24/- Issued 180 units

8 th Oct 9 th Oct 10 th Oct 11 th Oct 12 th Oct 18 th Oct

Received from Vendor 240 units @ Rs. 23/- Issued 3040 units Received from Vendor 320 units @ Rs. 23.50/- Issued 119 units Refund of a surplus from a work order 15 units @ Rs. 24/- Received from vendor 100 units @ Rs. 24/-

Q3. From the following transactions of Mrs. Joshi, you are required to prepare Trading A/c, Profit and Loss A/c and Balance Sheet for the year ended 31-03-2016.

8 Oct 9 Oct 10 Oct 11 Oct 12 Oct 18 Oct Received from Vendor 240
8 Oct 9 Oct 10 Oct 11 Oct 12 Oct 18 Oct Received from Vendor 240

Q4. Write short notes on:

  • a. Relevant Cost

  • b. Irrelevant Cost

  • c. Sunk Cost

  • d. Opportunity Cost

Q5. A company has three production departments and two service departments, their primary distribution of cost is as follows:

Q5. A company has three production departments and two service departments, their primary distribution of cost

The expenses of service department are charged on a percentage basis as follows:

Q5. A company has three production departments and two service departments, their primary distribution of cost

Show secondary distribution under:

  • a. Repeated distribution method

  • b. Simultaneous equation method

Q6. Cash in hand of ABC Ltd. on 1 st January, 2015 is 37500/-. From the information given below prepare an estimate of cash position during the three months, January to March, 2015.

Q5. A company has three production departments and two service departments, their primary distribution of cost

Q7. From the following information compute:

  • a. Material Mix Variance

  • b. Material Usage Variance

Q7. From the following information compute: a. Material Mix Variance b. Material Usage Variance Q8. Q9.

Q8.

Q7. From the following information compute: a. Material Mix Variance b. Material Usage Variance Q8. Q9.

Q9. Based on the below mentioned details about ABC Ltd. and XYZ Ltd. for the year ending 31-03- 2016, calculate:

  • c. Profit Volume Ratio and Break Even Point

  • d. Margin of Safety

Q7. From the following information compute: a. Material Mix Variance b. Material Usage Variance Q8. Q9.