₹198.00
Scroll down for Match your questions with Sample
Note- Students need to make Changes before uploading for Avoid similarity issue in turnitin.
Another Option
UNIQUE ASSIGNMENT
0-20% Similarity in turnitin
Price is 700 per assignment
Unique assignment buy via WhatsApp 8755555879
Description
| SESSION | MARCH 2024 |
| PROGRAM | MASTER OF COMMERCE (M.COM) |
| SEMESTER | II |
| COURSE CODE & NAME | DCM6202 MANAGEMENT ACCOUNTING |
Assignment Set – 1
- Elaborate on the steps involved in setting up a standard costing system in an organization. Also, differentiate between standard costing and budgetary control
Ans 1.
Steps Involved in Setting Up a Standard Costing System in an Organization
- Defining Standards: The first step in setting up a standard costing system is to define the standards. Standards are predetermined costs for materials, labor, and overheads. These standards should be realistic and achievable, reflecting the efficient level of performance. This involves analyzing past data, considering current conditions, and predicting future trends. It requires the collaboration of various departments like production, finance, and human resources to ensure comprehensive and accurate standards.
- Establishing Cost \
Its Half solved only
Buy Complete from our online store
https://smuassignment.in/online-store/
MUJ Fully solved assignment available for session FEB 2024.
Lowest price guarantee with quality.
Charges INR 198 only per assignment. For more information you can get via mail or Whats app also
Mail id is aapkieducation@gmail.com
Our website www.smuassignment.in
After mail, we will reply you instant or maximum
1 hour.
Otherwise you can also contact on our
whatsapp no 8791490301.
- The income and expenditure forecasts for the months of March to August 2023 aregiven as follows:
Months Sales Purchase Wages Manufacturing Office Selling
(Credit) (Credit) Rs. expenses Expenses Expenses
Rs. Rs. Rs. Rs. Rs.
March 60,000 36,000 9,000 3,500 2,000 4,000
April 62,000 38,000 8,000 3,750 1,500 5,000
May 64,000 33,000 10,000 4,000 2,500 4,500
June 58,000 35,000 8,500 3,750 2,000 3,500
July 56,000 39,000 9,500 5,000 1,000 3,500
August 60,000 34,000 8,000 5,200 1,500 4,500
You are given the following information:
- Plant Costing Rs.16000 is due for delivery in July payable 10% on delivery and the balance after 3 months.
- Advance tax of Rs.8,000 is payable in March and June each.
- Creditors allow 2 months credit and debtors are paying one month late.
Opening balance of cash Rs.8000. Expenses are paid with a lag of one month.
Prepare cash budget for the months of May to July 2023.
Ans 2.
To prepare a cash budget for the months of May to July 2023, we’ll follow these steps:
- Determine the cash inflows, which primarily come from collections from debtors.
- Determine the cash outflows, which include payments for purchases, wages, manufacturing expenses, office expenses
- The competing companies P Ltd. and Q Ltd. produce and sell the same type of
product in the same market. For the year ending March 2021 their forecasted profit and loss accounts are as follows:
Particulars P Ltd. Q Ltd.
Sales 300000 300000
Less: Variable cost (200000) (225000)
Fixed cost (50000) (25000)
Total Cost (250000) (250000)
Estimated profit 50000 50000
You are required to calculate:
- P/V ratio and Break-even in sales (Rs.) of both the firms
- State volume at which each business will earn a profit of Rs.30000
Ans 3.
To calculate the P/V (Profit/Volume) ratio and Break-even sales, we’ll use the following formulas:
- P/V Ratio (also known as Contribution Margin Ratio):
P/V Ratio = (Sales−Variable Cost) / Sales
- Break-even Sale
Assignment Set – 2
- Explain in detail the important decisions taken in management accounting for appraising choices with respect to operational decision-making.
Ans 4.
Management accounting plays a crucial role in operational decision-making by providing vital information and tools for appraising choices effectively. Several important decisions in management accounting significantly impact operational decisions:
- Cost-Volume-Profit (CVP) Analysis:
- “Analysis without interpretation is meaningless and interpretation without analysis is impossible”. Discuss this statement considering techniques and the objectives of financial statement analysis.
Ans 5.
The statement “Analysis without interpretation is meaningless and interpretation without analysis is impossible” encapsulates the essential interdependence between the analytical process and its subsequent interpretation in financial statement analysis. Financial statement analysis involves the systematic examination of financial information to make informed decisions about a company’s performance, financial health, and
- The following is the Balance sheet of Praveen Ltd. as on Dec 2022 and Dec 2023:
Liabilities 2022 2023 Assets 2022 2023
Share 2,00,000 2,50,000 Land & 2,00,000 1,90,00 capital Building
General 50,000 60,000 Plant 1,50,000 1,74,000
Reserve
Profit & 30,500 30,600 Stock 1,00,000 74,000
Loss A/c
Bank Loan 70,000 – Debtors 80,000 64,200 (Short
Term)
Creditors 1,50,000 1,35,200 Cash 500 600
Provision 30,000 35,000 Bank – 8,000 for taxation
5,30,500 5,10,800 5,30,500 5,10,800
Additional information:
- a) Depreciation was written off plant R14,000 in 2023. b) Dividend of Rs.20,000 was paid in 2023.
- c) Income tax provision made during the year was Rs.25,000
- d) A piece of land has been sold during the year at cost.
Ans 6.
To prepare the statement of sources and application of funds for the year 2023 and a schedule of changes in working capital based on the Balance Sheet information provided, let’s break down the calculations step by step.
Statement of Sources and Application of Funds for the year 2023:
Sources of Funds:
- Increase in Share Capital: Rs. 50,000 (2,50,000 – 2,00,000)
- Increase in Bank Loan: Rs. 70,000