ASSIGNMENT
Course Code : MS-04
Course Title : Accounting and Finance for Managers
Assignment Code : MS-04/TMA/SEM-I/2016
Coverage : All Blocks
Note: Attempt all the questions and submit this assignment on or before 30th April, 2016 to the coordinator of your study centre.

1. “Accountancy is an Information System”. Do you agree? Substantiate your answer with reasons. How does an Accountant help in planning and controlling a large commercial organization? Explain.

Prepare the comparative balance sheet and study its financial position

3. ABC Ltd. maintains their books of Cost Accounts under standard costing system in which the work-in-progress is debited with actual costs and credited with standard costs. The standard cost card for product X shows :

                                                                                                                                           Cost per unit (Rs.)

Direct material 1pc @ Rs. 1.50                                                                                           1.5

Direct labour   3hrs @ Re. 1.00                                                                                          3.0

Factory overhead 3 hrs.@ Rs. 2.50                                                                                   7.5

                                                                                                                                              _____

                                                                                                                                                   12

Based on Budgeted Factory overhead Rs. 7,500 and budgeted Labour hours 3,000. The following cost and production data are available for the month of March, 1998 in respect of product X.

Cost data

1. Actual materials used in production 1,100 pcs @ Rs. 1.60

2. Analysis of pay Roll shows direct labour hrs. 2,700pcs @ Rs. 1.20

3. Factory overhead as per Factory O.H control account Rs. 7, 425 (to be charged to product X) Production data

Units completed 950 units

Units in closing WIP 100 units 50% completed

Cost of units remaining work- in- progress Account is transferred to work- in- progress Inventory Account. You are required to compute all possible variances.

4. As a Manager what strategy you will adopt so that you are able to efficiently manage the cash in business?

5. Visit an organization of your choice and find out the investment appraisal methods that the organization follows. Write a note on your visit.