MMPC-004 ACCOUNTING FOR MANAGERS Solved Question Paper December 2023

MMPC-004 ACCOUNTING FOR MANAGERS Solved Question Paper December 2023

ACCOUNTING FOR MANAGERS
Course Code: MMPC-004

1. Explain the following :
(a) Concept of conservation
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(b) Cost concept
(c) Money measurement concept
(d) Periodicity concept
2. What is a Journal ? Explain the process of
Journalizing and discuss the advantages of
using Journal.
3. What is Marginal Costing ? Discuss the
differences between Marginal and Absorption
costing. Explain the utility and limitations of
marginal costing.
4. What is a Budget ? Describe Budgetary Control
and discuss the steps involved in installing a
Budgetary Control System.
5. What is an Annual Report of a Company ? List
the contents of an annual report and
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P. T. O.
describe the information contained in Narrative
items.
6. Explain the following :
(a) DuPont Analysis
(b) Altman’s Z-score model
7. What is Human Resource Accounting ?
How can it be used as a management decision
tool ?
8. The following information contains cost,
material mix and yield data for production of a
compound ABC :
Standard price : Raw material A ` 2 per kg
Raw material B ` 10 per kg
Standard yield : 90%.
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The actual cost, mix and output are as follows :
Used : 2200 kgs of A costing ` 4,650
800 kgs of B costing ` 7,850.
Output : 2850 kgs of compound ABC.
Calculate material cost variance, material price
variance, material wage variance, material mix
variance and material yield variance.