Managerial Accounting Test Bank

Will you please give here cost and Managerial Accounting question paper of ICSI , I want to get the same?

[Shaleen]

As you want I am here giving you cost and Managerial Accounting question paper of ICSI.

Cost and Managerial Accounting Test Paper :

Question No. 1
(a) Define costing and discuss its objectives. (5 marks)
(b) G Ltd. produces a product which has a monthly demand of 4,000 units. The
product requires a component X which is purchased at Rs. 20. For every finished
product, one unit of component is required. The ordering cost is Rs. 120 per
order and the holding cost is 10 per cent per annum. You are required to calculate:
(i) Economic order quantity.
(ii) If the minimum lot size to be supplied is 4,000 units, what is the extra cost
the company has to incur ?
(iii) What is the minimum carrying cost, the company has to incur ?

d) What do you mean by master budget? How is it prepared ? (5 marks)
(e) What is ‘Fund Flow Statement’? How is it prepared ?

Question No. 2
(a) What do you mean by labour turnover? What remedial steps do you suggest to
minimize its occurrence ? (5 marks)
(b) Real Enterprises undertakes three different jobs A, B and C. All of them require
the use of a special machine and also the use of a computer. The computer is
hired and the hire charges work out to Rs. 4,20,000 per annum. The expenses
regarding the machine are estimated as follows:
Rs.
Rent for the quarter 17,500
Depreciation per annum 2,00,000
Indirect charges per annum 1,50,000

During the first month of operation, the following details were taken from the job
register:
Job A B C
Number of hours the machine was used:
(a) Without the use of the computer 600 400 900
(b) With the use of the computer 600 — 1,000
You are required to compute the machine hour rate:
(i) For the firm as a whole for the month when the computer was used and
when the computer was not used.
(ii) For the individual jobs A, B and C.

Here is the attachment.