8/8/2019 SMU_MCA NEW FALL 2010_Financial Management and
Accounting(MC0065)_SEM_1_ASSIGNMENTS_set1
1/3
August 2010
ASSIGNMENT - MCA semester 1
MC0065 Financial Management and Accounting 4 Credits
(Book ID: B0724)Assignment Set- 1 (60 Marks)
Note: Each question carries 10 Marks. Answer all the
questions
1) What is financial statement? Explain purpose and objectives
of financial statement.
2) What is a Funds Flow Statement? Discuss the importance and
objectives of Funds flow
statement?
3) What are the important Revenue statement ratios or income
statement ratios? Explain them
breifly.4) What do you mean by Trial Balance? Mention the kinds
of errors
a) Disclosed by Trial Balance
b) Not Disclosed by Trial Balance
5) The following is the revenue statement of Hind Traders
Limited for the year ended 31st
March, 2000:
Rs
Sales 5, 00,000
Less: Cost of Goods sold 3,00,000-------------
Gross Profit 2,00,000
Less: Operating Expenses 1,20,000
-------------
Operating Profit 80,000
Add: Non-Operating Income 12,000
-------------
92,000Less: Non-Operating Expenses 4,000
-------------
Net Profit 88,000
Less: Tax 50% 44,000
-------------
8/8/2019 SMU_MCA NEW FALL 2010_Financial Management and
Accounting(MC0065)_SEM_1_ASSIGNMENTS_set1
3/3
August 2010
Master of Computer Application- MCA Semester 1
MC0065 Financial Management & Accounting - 4 Credits
(Book ID: B0724)
Assignment Set- 2 (60 Marks)
Note: Each question carries 10 Marks. Answer all the
questions.
1 Define a cash flow statement .What are the uses and
limitations of preparing a Cash Flow
Statement?
2 Define Marginal Cost and Marginal costing. Discuss the
advantages and limitations of
marginal costing.
3 What do you understand by budgetary control? What are the
essentials of good budget and
Explain types of budgets?
4 What is standard costing? Point out clearly the distinction
between standard cost and other
cost systems?
5. Your company has a production capacity of 2, 00,000 units
year. Normal capacity utilization is
reckoned as 90%.Standard variable production costs are rs.11 per
unit. The fixed costs are
rs.360000 per year. Variable selling costs are rs.3 per unit and
fixed selling costs are rs.2,
70,000 per year. The unit selling price is rs.20.In the year
just ended on 30th June, 1998, the
production was 1, 60,000 units and sales were 1, 50,000 units.
The closing inventory on 30-6-1998 was 20,000 units. The actual
variable production costs for the year were rs.35, 000 higher
than the standard.
(i)Calculate the profit for the year by using Marginal costing
method
6) The standard material required to manufacture one unit of
product X is 10 kg and the
standard price per kg of material is Rs.2.50.The cost accountant
records, however, reveals that
11,500 kg of materials costing Rs.27, 600 were used for
Manufacturing 1,000 units of product X.
Calculate the material variances.
