IGNOU MMPC-004 December 2023 Previous Year Question Paper

Q1.Explain the following :

(a) Concept of conservation [ 2 ] MMPC–004

(b) Cost concept

(c) Money measurement concept

(d) Periodicity concept

Q2.What is a Journal ? Explain the process of Journalizing and discuss the advantages of using Journal.

Q3.What is Marginal Costing ? Discuss the differences between Marginal and Absorption costing. Explain the utility and limitations of marginal costing.

Q4.What is a Budget ? Describe Budget ary Control and discuss the steps involved in installing a Budgetary Control System.

Q5.What is an Annual Report of a Company ? List the contents of an annual report and [ 3 ] MMPC–004 describe the information contained in Narrative items.

Q6.Explain the following :

(a) DuPont Analysis

(b) Altman’s Z-score model

Q7.What is Human Resource Accounting ?

Q8.How can it be used as a management decision tool ?

Q9.The following information contains cost, material mix and yield data for production of a compound ABC : Standard price : Raw material A ` 2 per kg Raw material B ` 10 per kg Standard yield : 90%. [ 4 ] MMPC–004 The actual cost, mix and output are as follows : Used : 2200 kgs of A costing ` 4,650 800 kgs of B costing ` 7,850. Output : 2850 kgs of compound ABC. Calculate material cost variance, material price variance, material wage variance, material mix variance and material yield variance.