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horngrens accounting managerial

Questions and Answers of Horngrens Accounting managerial

What are different types of functional budgets which are prepared by a large scale manufacturing concern. Explain and illustrate the method of preparation of a sales budget or cash budget?
Discuss the features of performance and performance budgeting systems.
What is performance budgeting and what are its requisites?
What are the prerequisites for a responsibility accounting system?
What do you underst and bybudget ary control? How cost company hoar of dinerctors use their bydget to influence the future direction of the firm?
A manufacturing company sells two products which are manufactured in one machinery. During the year 2009, it plans to sell the following quantities of each product.Sales Budget (in units)First Second
A manufacturing company sels three products P, Q and R which are as follows Product North West South P 15,220 12,500 17,560 Q 18,000 7,500 8,000 R 16,500 20,500 6,000 Sales prices are Rs. 12, Rs. 8,
PQR Co. wishes to arrange overdraft facilities with its bankers during the period April to June of a particular year, when it will be manufacturing mostly for stock.Prepare a Cash Budget for the
Summarised the income and expenditure forecasts for the months of March to August 2009 are given below:Month Sales Purchases Wages Manufac- Office Selling(Credit) (Credit) Rs. uring Exps. Exps.
From the following information prepare a cash budget from 1st January 2009 to 30th June, 2009. The cash balance on 1st January, 2009 is Rs. 1,45,000.Month Sales Materials Wages Distribu- Production
Estimate the cash requirements of Mohit company for June 2009, from the following data:(A) Sales Rs.2009 February 25,000 March 20,000 April to June 30,000 per month Half of the sales are for cash.
With the following data for a 60 per cent activity, prepare a budget for production at 80 per cent and 100 per cent activity. Production at 60 per cent activity – 600 units.Materials Rs. 100 per
The cost of an article in a capacity of 5,000 units is given under P. For a variation of 25%in capacity above or below this level the individual expenses vary as indicated under Q below:Particulars P
PQR Ltd. has prepared the budget for the production of lakh units of the only commodity manufactured by them for a costing-period as under:Particualrs Rs. (Lakh)Raw Material 2.52 Direct Labour 0.75
From the information given below prepare flexible budget for 60% and 80% capacities and fix the total overhead rates as a per cent on direct wages at these capacities:Particulars At 75%Variable
P and Q Enterprises is currently working at 50% capacity and produces 10,000 units.Estimate the profits of the company when it works at 60% and 70% capacity.At 60% capacity the raw material cost
A company produces a standard product. The estimated cost per unit is given below:Materials Rs. 10 Direct Wages Rs. 8 Direct expenses Rs. 2 Variable overheads Rs. 3 Total Rs. 23 Semi-variable
The following information has been made available from the records of Tata Tools Ltd. for the last six months of 2009 (and of only the sales of January 2009) in respect of product ‘X’:(i) Units
Fast Food Product Ltd. has prepared the following Sales Budget for the first five months of 2009.2009 Sales Budget (in Units)January 10,800 February 15,600 March 12,200 April 10,400 May 9,800 The
The selling expenses of a business for a particular budget period are:Particulars Rs.Sales office salaries 4,000 Fixed expenses of sales office 3,000 Amount allocated for advertisement 4,000
Standard Costing aids management in planing and control.
Historical Costing is not useful for ascertaining costs.
Standard Costing and Process Costing cannot be used simultaneously in the same company.
Standard Costing and Budgetary Control are not interdependent.
Standard Costing system is facilitated if it is operated along with a system of budgetary control.
Jobs Filler from one another and hence it is not possible to use standard costing system in jobbing industries.
Standard Costing does not help the manager in decision-making.
Standard Costing system may not be suitable in small concerns.
Standard Costing and Estimated Costing mean one and samething.
Standard costing helps in price fixing when demand is elastic.
Standard costing once fixed cannot be changed.
Standard costing reflects optimum operations by bringing economic and technical factors together.
Standard costing is computed after the product is manufactured.
Ideal standards are not suitable for control purposes as they are unattainable.
Where products of different sizes, shapes and quality are manufactured in a factory, standard hour represents the true basis of comparison of output.
Constant shortage of material of specified quality may be a problem in setting physical standards.
If labour time standard is based on the maximum efficiency, the unit cost will be higher.
The physical standards are set by the industrial engineering department.
Selection of a suitable level of output and budgeting of expenses for that level of output are required for setting of standard for overheads.
Pre-production costing is another name for standard costing.
Standard costing aims at achieving maximum efficiency; hence standards should be based on ideal performance.
Jobs differ from one another and hence it is not possible to have standard costing in a jobbing factory.
All variances represent efficiency or inefficiency of the undertaking.
Variance analysis helps management in taking day-to-day decisions such as make or buy.
Standard Costing is a technique which aims at ------------.
Standard Costing are ------------.
The system which determines what should be the cost in advance of production is called ------------ system.
The settings up of ------------ and ------------ standards is necessary for compilation of direct materials and direct labour standards.
Time and motion study is used to set ------------ Standard.
Standard for overheads is based on budgeted ------------.
A standard hour is a ------------ hour.
In a jobbing industry standard costing is useful in ------------ a price and ------------ a profitable job.
Standard Costing works on the principle of ------------.
------------ techniques help in overcoming to some extent the problem of price fluctuations.
Standard Costing are:(a) Ideal Costs (b) Normal Costs(c) Average Costs (d) Reasonable attainable Costs
The type of costing which is most suitable for cost control purposes is:(a) Standard Costing (b) Post Costing(c) Continuous Costing.
Budgetary Control and Standard Costing are:(a) Interdependent on each other (b) Independent of each other(c) Interrelated with each other.
One of the objectives of standard costing is to:(a) Promote and measure performance (b) Control and reduce costs(c) Simplify production operation (d) Set cost of manufacture.
The type of standard that is best suited from cost control point of view is:(a) Ideal or theoretical standard (b) Expected Standard(c) Normal Standard (d) Basic Standard
Define Standard Costing and explain its advantages and limitations.
What are standard Costing? Why is their use preferable to comparison of actual data with past?
What is the essential difference between budgetary control and standard costing?
“Cost standards indicate what cost should be incurred under desirabele operating conditions while budgeted costs indidate what costs are expected to be, recognising limitations posed by less than
What is Standard Costing? Bring out clearly the relationship between Standards Costing and Budgetary Control.
“Budgetary Control need not be accompanied by a Standard Costing System.” Discuss.
Write short notes on: (a) Standard Productive Hour, and (b) Standard Costing Sheet.
Define ‘Standard Costing’. Distinguish it from ‘Budgetary Control’.
What is Standard Costing? Discuss its advantages from the manage-ment point of view.
What is Cash Flow Statement?
What is meant by the term Cash Equivalents?
What are the Operating Activities?
What is meant by Investing Activities?
What is meant by Financing Activities?
State any two objectives of preparing a cash flow statement.
Give the meaning of ‘Cash Flow Statement’.
A Ltd., engaged in the business of retailing of two wheelers, invested Rs. 50,00,000 in the shares of a manufacturing company. State with reason whether the dividend received on this investment will
Enumerate the steps involved in the preparation of a Cash Flow Statement?
Why Cash Flow Statement is, prepared?
What is the difference between Fund from Operation and Cash Flow Statement?
What is the difference between Cash from Operations and Net Profit?
Give an imaginary format of Cash Flow Statement.
How Cash from Operation is calculated?
How cash from operating activities is calculated?
Explain the uses of Cash Flow Statement.
Explain the objectives of preparing Cash Flow Statement
What do you mean by Cash Flow Statement? How is it prepared? Discuss its main uses.
Distinguish between Funds Flow Statement and Cash Flow Statement. Discuss the objectives and limitations of Cash Flow Statement.
Distinguish between:(i) Funds Flow Statement and Cash Flow Statement(ii) Cash Flow Statement and Cash Budget.
Explain the procedure of preparing ‘Cash Flow Statement’ as per Accounting Standards AS-3 (revised). Also give its format as per direct method.
Explain the procedure of calculating cash flow from operating activities.
What is cash flow statement use the statement of cash flow to help evaluate a firm past and future performance.
Calculate Cash Flow from operating activities from the following information:Profit & Loss Account 31st March 2008 Rs. Rs.To Cost of goods sold 15,53,000 By Sales 22,00,000 To Salary 60,000 By
The following information is related to X Ltd.Profit & Loss Account(for the year ending 31st March, 2008)Rs. Rs.To Cost of goods sold 22,87,000 By Sales 30,00,000 To Office Expenses 68,000 By
The following are tbe Balance Sheets of Ashok Ltd.:(Rs. in thousands)Balance Sheets Liabilities 2007 2008 Assets 2007 2008 Rs. Rs. Rs. Rs.Equity share capital 3,000 4,000 Property 2,000 2,500
From the following Balance Sheets of X Ltd., make out the statement of sources and uses of cash.Balance Sheets Liabilities 2007 2008 Assets 2007 2008 Rs. Rs. Rs. Rs.Equity Share Capital 3,00,000
The directors of Mick Tools Ltd., are worried at the deteriorating financial position of the company. The company has utilised full overdraft facility from bank and still, it is not able to pay its
The comparative Balance Sheets of the Anil Ltd. as on 30th June 2005 and 2006 are given below in condensed form:Balance Sheets Liabilities 2005 2006 Assets 2005 2006 Rs. Rs. Rs. Rs.Accounts Payable
The Balance Sheets of Atual Limited is as follows:Balance Sheets(Figures in thousands Rs.)Liabilities 2006 2007 Assets 2006 2007 Rs. Rs. Rs. Rs.Equity 800 900 Fixed Assets 600 800 General Reserve 300
Prepare Cash Flow Statement from the following Balance Sheets of Rohit Engineering Ltd.Balance Sheets Liabilities 2006 2007 Assets 2006 2007 Rs. Rs. Rs. Rs.Share Capital 17,00,000 18,35,000 Building
From the following Balance Sheets of ABC Co. Ltd. for the years 2007 and 2008, prepare a Cash Flow Statement.Balance Sheets Liabilities 2007 2008 Assets 2007 2008 Rs. Rs. Rs. Rs.Equity Shares of Rs.

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