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NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Cost & Management Accounting
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 aspossible.
- 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 theirassignments, 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 otherstudents is not allowed.
- Students should follow the following parameter for answering the assignment questions.
| For Theoretical Answer | For Numerical Answer | |||
| Assessment Parameter | Weightage | Assessment Parameter | Weightage | |
| Introduction | 20% | Understanding and usage of the formula | 20% | |
| Concepts and Application related to the question | 60% | Procedure / Steps | 50% | |
| Conclusion | 20% | Correct Answer & Interpretation | 30% |
June 2021 Examination
1. The following information has been collected from Ms. Divya the head of personnel department of ART Limited for the year ended 31st March 2020
Number of workers at the beginning of the year 8000
Number of workers at the end of the year 9600
Number of workers left the company during the year 500
Number of workers discharged during the year 100
Number of workers replaced due to leaving and discharge 700
Additional workers employed for expansion during the year 1500
You are required to calculate the labor turnover rate by using separation method, replacement method and flux method, further discuss each of them briefly. (10 Marks) –
Ans 1.
Introduction:
Labor turnover refers to the percentage change in the labor force of an organization. Every organization intends to keep this ratio low as the high labor turnover ratio denotes that the organization’s labor force is not stable, and several laborers left the organization during the year. There were a lot of new joiners. Given whether labor turnover is excessive or not, all the organization needs to measure labor turnover periodically. The labor turnover is calculated by comparing the number of employees left the organization during the period by an average number of employees.
2. Discuss the practical aspects of the management accounting function briefly in the context of the changing global management practices perspective. Student can take any example to build around the aspects needs to be discussed (10 Marks)
Ans 2.
Introduction:
Management accounting is also known as managerial accounting. The accounting branch is only used inside the organization to provide financial data and resources to the managers to help them decide. The very aspect of management accounting distinguishes it from another branch of accounting, i.e., financial accounting. Under management accounting, financial data and reports like the invoice, financial balance
3. Seth transport operates a fleet of Motor Lorries. The record for Lorry-4150 reveals the following information
Days Maintained 30
Days operated 25
Days Idle 5
Total hours operated 300
Total kms covered 2500
Total tonnage carried 200
(4 tonne – load per trip, return journey empty)
Total cost for the month 270000
Prepare a performance statement reflecting
- Cost per day operated, cost per kilometer, cost per hour (5 Marks)
Ans 3a.
Introduction
A performance statement is a reflection of the actual position of a concern. It depicts the various sources of revenues and costs associated with the business and analyzes the variances in its operations. It gives a detailed structure of where the funds are flowing and thereby reducing the problem areas.
b. Cost per round trip, Tonne Km, cost per commercial tonne –km. (5 Marks)
Ans 3b.
Introduction
Cost accounting helps a company capture the total cost incurred in manufacturing, administration, sales, and other miscellaneous operations of a company. It aids the management in realizing the areas of variances by comparing the actual costs with the budgeted costs and making informed decisions.
Concept and application
Seth transport, an operator of a fleet of Motor Lorries, have given as a record for Lorry-4150 and based on that we need to calculate per-unit costs of various measures. These are enlisted as below:
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