IGNOU MCO-05 December 2022 Previous Year Question Paper

Q1.Explain any four accounting concepts which guide the accountant at the recording stage. 5+5+5+5

Q2.Write short notes on the following : 5+5+5+5

(i) Interim dividend

(ii) True and Fair view

(iii) Provision for Taxation

(iv) Preliminary Expenses [ 2 ]

Q3.Prepare a cash flow statement from the following information under both direct method and indirect method : 10+10 Liabilities Equity shares 4,000 4,000 12% Redeemable pref. shares — 1,000 P & L A/c 100 120 General Reserve 200 200 Debentures 600 700 Creditors 1,200 1,100 Prov. for taxation 800 1,000 Bank overdraft 1,250 680 Total 8,150 8,800 Assets Fixed Assets 4,100 4,000 Less : depreciation 1,100 1,500

Q4.000 2,500 Sundry debtors 2,000 2,400 Stock 3,000 3,500 Prepaid exp. 30 50 Cash 120 350 Total 8,150 8,800

Q5.What is a cash budget ? How is it prepared ? Illustrate.

Q6.The following figures relate to the qua ntity of material required for the production of a product : Standard Actual Qty. (kg) Price Amount Qty. (kgs) Price Amount A 60 10 600 80 12 960 B 90 20 1,800 60 25 1,500 150 2,400 140 2,460 Compute : 5+5+5+5

(a) Material Cost Variance

(b) Material Price Variance

(c) Material Usage Variance

(d) Material Mix Variance

Q7.(a) Define Responsibility Accounting. How does it differ from Conventional Cost Accounting ? 10

(b) State the features of Responsibility Accounting.

Q8.XYZ Ltd. produces three products and cost data is as follows : X Y Z Selling price per unit 100 75 50 P/V Ratio 0.10 0.20 0.40 Maximum sales potential (in units) 40,000 25,000 10,000 Raw material content as % of variable cost 50 50 50 The fixed expenses are estimated at ` 6,80,000. The company uses a single raw material in all the products. Raw material is in short supply and the company has a quota for the supply of raw materials to the extent of ` 18,00,000 per annum for the manufacture of its pr oduct to meet its sales demand.

(a) Calculate the product mix which will give the maximum overall profits keeping the short supply of raw materials. 10

(b) Compute the maximum profit.

Q9.(a) What do you understand by differential costing ? H ow does it differ from marginal costing ? 10

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(i) vUrfje ykHkka'k

(ii) lgh ,oa fu"i{k fopkj

(iii) dj ds fy, izko/ku

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Q10.000 2,500 fofo/ nsunkj 2,000 2,400 LVkWd 3,000 3,500 iwoZnÙk O;; 30 50 jksdM+ 120 350 ;ksx 8,150 8,800 4- jksdM+ ctV D;k gS \ ; g dSl s cu k; k tkrk gS \ mnkgj.k lfgr O;k[;k dhft,A 20 5- fuEufyf[kr lwpuk,¡ ,d mRikn ds fuekZ.k ls lEcfU/r gSa % ekud okLrfod ek=kk dher jkf'k ek=kk dher jkf'k A 60 10 600 80 12 960 B 90 20 1,800 60 25 1,500 150 2,400 140 2,460 Kkr dhft, % 5$5$5$5

(d) lkexzh ykxr fopj.k ([k) lkexzh ewY; fopj.k (x) lkexzh mi;ksx fopj.k (?k) lkexzh feJ.k fopj.k 6-

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(d) ,slk mRikn feJ.k Kkr dhft, tks vf/dre ykHk iznku dj ldsA dPps eky dh vkiw£r dh deh dks è;ku esa j[kuk gSA 10 ([k) vf/dre ykHk Kkr dhft,A 10 8-

(d) foHksnd ykxr ls vki D;k le>rs gSa \ ;g lhekUr ykxr ls fdl izdkj fHkUu gS \ 10 ([k) foHksnd ykxr fu/kZj. k i¼fr ds O;kogkfjd mi;ksx dh O;k[;k dhft,A 10 [ 12 ]