Cost & Management Accounting

NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Cost & Management Accounting

Internal Assignment Applicable for April 2023 Examination

Assignment Marks: 30

Instructions:

All Questions carry equal marks. All Questions are compulsory

All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.

All answers to be written individually. Discussion and group work is not advisable.

Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.

Students should write the assignment in their own words. Copying of assignments from other students is not allowed.

Students should follow the following parameter for answering the assignment questions.

 

For Theoretical Answer

Assessment Parameter	Weightage
Introduction	20%
Concepts and Application related to the question	60%
Conclusion	20%

For Numerical Answer

Assessment Parameter	Weightage
Understanding and usage of the formula	20%
Procedure / Steps	60%
Correct Answer & Interpretation	20%

1. X Ltd. made sales of ₹1,00,000 during a certain period. The net profit for the same period was ₹10,000 and the fixed overheads were ₹15,000.

Find out:

1. Profit volume (P/V) ratio;
2. Break-even point (B/E) sales;
3. Volume of sales to earn a profit of ₹15,000;
4. Net profit from the sales of ₹1,50,000.

(10 Marks)

1. Describe the various steps involved in adopting standard costing system in an organization. (10 Marks)

3. a. Explain integrated accounting system and state its advantages.	(5	Marks)

1. b. M/s ABC Private Limited allotted a standard time of 40 hours for a job and the rate per hour is ₹75. The actual time taken by a worker is 30 hours. You are required to calculate the total earnings under either of the following plans: (i) Halsey Premium Plan (Rate 50%) (ii) Rowan Plan. (5 Marks)

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