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Cost & Management
Accounting
Note :- Solve any 4 Questions
All Questions Carry equal
Marks.
Questions:
- a) Are
     all fixed costs sunk costs? Explain
b) What are opportunity costs? Are
opportunity costs relevant in decision   
making? Give examples in support of your answer.
c) What are the various methods by which
you would split semi-variable costs    in
its fixed and variable elements?
- a) What are the characteristics of companies that are like to be using job order cost system? Specify five concrete situations when use of job order cost system is most appropriate.
b) Why is it difficult to identify
manufacturing overheads with products manufactured? Also, state the difference
between the manufacturing overheads control account and manufacturing overhead
applied account.
- a) What
     do you understand by integrated accounts? State the advantages of
     integrated accounts. State in brief the procedure of installing such a
     system in a newly started manufacturing firm.
b) Why is it necessary to reconcile cost
and financial accounts?
- a)
     Explain How budgeting and budgetary control operate together in a total
     management system.
b) Write a note on the advantages and
limitations of budgeting.
- a) What
     is “standard costing” and how would you distinguish it from “budgetary
     control?”
b) How do standards and standard costs
facilitate managerial planning and control?
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