Cost & Management Accounting
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Cost & Management Accounting
Question 1
Amman , Namman, Pulkit and Amit started with a fast food restaurant, couples of years
back. This year all the partners of the restaurant are planning to come up with a chain
of restaurant in the city and therefore wants to employ some additional staff. One of the
partner, gives an advertisement for recruitment in the Newspaper, for the position of
Cost Accountant as well as Management Accountant. However, Mr. Shinde, the HR
manager of the restaurant is confused about difference in the functions performed by
the Cost Accountant and Management Accountant.
Discuss how you will convince Mr. Shinde that both the profiles have certain specific set
of functions to be performed, which are different from each other. (10 Marks)
Question 2
Prachi Pvt Ltd manufactures two types of wooden boxes, using certain common
facilities. The following cost data is presented to you –
Calculate the overhead per unit absorbed using the most practical and effective
approach, which gives relevance to the casual relationship of cost drivers to activities.
Also, discuss the approach in detail. (10 Marks)
Question 3
A product ‘X’ passes through two processes. The output of Process I becomes the input
of Process II. The quantity of raw material introduced into process I is 20000kgs @ 20
per Kg. The additional cost incurred and output obtained for one of the month under
review is as under-
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