Ministry of Manpower Directorate General of Technological Education NIZWA COLLEGE OF TECHNOLOGY DEPARTMENT OF BUSINESS STUDIES

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1 Ministry of Manpower Directorate General of Technological Education NIZWA COLLEGE OF TECHNOLOGY DEPARTMENT OF BUSINESS STUDIES BAAC 2204: Management Accounting 1 STUDENT NAME STUDENT ID NO. SECTION INSTRUCTIONS TO THE CANDIDATES All the questions are compulsory and MUST be answered. Use only PEN for writing answers. Double answers will not carry any marks. Date & Day Diploma 2 nd Year Time Types of Questions Allocated Marks Marks Secured I. or Questions 06 II. Fill in the blanks Questions 06 III. Match the following Questions 08 IV. Short answer type Questions 16 V. Long answer type Questions 14 TOTAL 50 TOTAL MARKS SECURED IN WORDS Marked by : Verified by : Signature : Signature : Date : Date :

2 I. TRUE or FALSE QUESTIONS (Darken the box for the correct answer) (6 X 1 = 6 Marks) 1. The ultimate target of implementing strategy is to reduce costs and efficiency. 2. Contribution is also called as marginal costing. 3. A sales budget shows the revenue target to be achieved in the next year. 4. Labor rate variance measures the productivity of direct labor. 5. The main aspect of performance measurement is comparison between the targets and budgets. 6. Full costs of the cost required for producing goods or services. II. FILL IN THE BLANKS QUESTIONS (Marks will be reduced for spelling mistakes) (6 X 1 = 6 Marks) 1. helps to generate information for taking decisions. 2. A is an organization unit headed by a manager who is responsible for its operations and performance. 3. is a coordinated exercise combines the ideas of different levels of management. 4. In marginal costing the valuation of inventory is calculated at.

3 5. If standard cost of material is greater than actual cost of material called as variance. 6. decision involves choosing the best option available for an investment. III. MATCH THE FOLLOWING QUESTIONS (Write the alphabets of your chosen answer in the space given below) (8 X 1 =8 Marks) S. No Description Alphabet Description 1 Cash budget A Variable manufacturing costs 2 Absorption costing B On the basis of capacity utilization 3 Break even point C Capital investment appraisal 4 Basic budget D On the basis of area of operation 5 Functional budget E Fixed manufacturing costs 6 Marginal costing F Net income is zero 7 Pay back method G All manufacturing costs 8 Fixed budget H On the basis of condition I Anticipated receipts and payments S. No Alphabet

4 IV. SHORT ANSWER TYPE QUESTIONS (4 x 4 = 16 Marks) Note: Students are reminded to limit their answer on what is required only. Any excess answer, other than what is asked or required shall not earn any marks. 1. From the following information calculate: (4 Marks) (i) BEP in Value (ii) Number of units sold to earn a profit of RO 8000 a year. Fixed Expenses RO Variable Cost RO 12 per unit Sales RO 20 per unit Output level 1000 units

5 2. The following cost information is obtained from the records of Sohar Company for the production Capacity. (4 Marks) ` RO Sales ( Selling price per unit RO 50) Variable Expenses: Selling (RO 20 per unit) Production(RO 10 per unit) Fixed Expenses Total Cost Profit 8000 You are required to find out the profit or loss under marginal costing method at 900 units and 1100 units of capacities.

6 3. Calculate material variances from the following information. (4 Marks) Standard cost of producing one unit is as follows Direct material 20 kg costing RO per kg Direct labor 8 hours at the rate of RO per hour The actual information for the month is as follows. Units produced 12,500 Direct material used 200,000 Kgs Cost of material 75,500 RO Direct labor hours worked 5700 hours Labor paid at the rate of RO per hour

7 4. Explain any four characteristics of management accounting. (4 Marks)

8 V. LONG ANSWER TYPE QUESTIONS (14 Marks) 1. The following information is obtained from a company for the year (6 Marks) Selling price Variable cost RO 32 per unit RO 10 per unit Fixed cost RO Unit Produced 3000 units The manager of the company has the following options for a decision. i. 10% decrease in variable costs ii. 20% increase in selling price together with RO 2000 increase in fixed cost You are required to calculate the following under the above circumstances. a.) P/V Ratio b.) Margin of Safety

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10 2. ABC Company gives the following particulars. You are required to prepare a cash budget for three months ending 31 st March, (8 Marks) (Amounts in RO) Months Sales Purchases Wages Overheads November, December, January, February, March, v 10% of sales are cash basis and the balance would be collected in the following month. v Suppliers allowed 2 months credit facility for payments. v Lag in payment of wages ½ month. v Cash balance on 1 st January, 2011 is expected to be RO v Vehicle will be purchased in January, 2011 at a cost of RO v Interest of RO 1000 will be received in March, 2011

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