Blog: MGT402 Finalterm Current Paper 2013 File 5 Shared by Ali

my current final term paper dated 25-03-2013
Total Questions = 60
MCQs = 52  (most from past papers but as usual time taking mean lengthy )
Long Questions
1)       from past paper
The Midnight Corporation budget department gathered the following data for the third quarter:
                                                                                              July
Projected Sales (units)                                                          1,000
Selling price per unit (Rs.)                                                    30
Direct material purchase requirement (units)                        1,500
Purchase cost per unit (Rs.)                                                   15
Production requirements (units)                                            800
Direct labor hours Rs.                          1.5 per unit
Direct Labor rate Rs.                            2.5 per direct labor hour
Fixed FOH is Rs. 2600, included depreciation Rs. 300
Selling and Admin expense 4% of sales
Net Income before tax is as follows
July 8,000
August 10,000
September 8,000All sales and purchase are for cash and all expenses are paid in the month incurred.
Assuming that the opening cash balance on July 01 is Rs. 40,000 and tax rate is 35%,
Requirement:
Prepare cash budget for the month of July.

2) Write down the differential cost is it avoidable and incremental cost?

3) write down the budgets and human behavior?

4)  one is from "Breakeven sales in rupee"

5) one is from budget income statement .

6)   (on page # 83)
Wage rate per hour                        Rs.1.50
Time allowed for the job                    16 hours
Time taken                                         12 hours.
Required:
1. Calculate the Gross earnings of the worker.
2. Find out effective “rate of earnings”

7) Figures were given and requirement was "Using the FIFO method, what are the equivalent units of production for the month of June"?