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Cost & Management Accounting
1.
Jaiman Snacks LLP is in the business of supplying roasted peanuts across India
on a wholesale basis. They started a year back during lockdown and are
generating good business across the country The LLP is managed by three friends
who are commerce graduate. They implemented the financial accounting system for
the business. Now, they are deciding to work towards the franchisee business
model and take their business to the next level. However they feel that they
should systemize their business strategies and Functioning first so as to
achieve the desired results. This may help them in effectively plan the
business operations, evaluate their finances more critically, and can employ
adequate capital budgeting tools to evaluate the various decisions related to
further expansion. They are exploring
management accounting as a probable tool for all these short term and strategic
decision making. Should they set up management accounting for the current
business? Discuss the importance and advantages of Management accounting in the
context of given scenario (10 Marks)
2.
Following information relates to Process A account 10000 Units introduced at Rs
20000 Material consumed Rs 5000 Manufacturing expenses Rs 2000 Direct Labour
charges Rs 6000 Units transferred to next process B- 9500 It is bound that
wastage in this process is 3% There is no realizable value of scrap Prepare the
process account reflecting the value at which output will be transferred to the
next process. (10
Marks)
3.
Nirmal Soul pvt Ltd is a manufacturer of bath towels. The company has to supply
his customer 750 units of his product per year.
Any
type of shortage is not acceptable.
The
inventory carrying cost is Rs 2.4 per unit per year
The set up cost per run is Rs 100
Compute
a.
What should be the optimum order size and the optimum number of orders which
should be executed (5 Marks)
b.
Calculate the total cost for the optimum order size (5 Marks)
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