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Managerial Accounting Question Paper

Managerial Accounting

Course:Business Management (Business)

Institution: Machakos University question papers

Exam Year:2011

Instructions
Answer any 4 Questions
1.a)Define the term management accounting
b) Explain the major differences between managerial accounting and financial accounting.(25 Marks)

2.Explain the following terms:-
(i) Planning
(ii) organizing
(iii) Controlling
(iv)Coordinating (25 Marks)

3.Explain the problems associated with cost classification. (25 Marks)

4. The following information shows the number of students and the cost of maintaining them at a medical university.
2007------Number of students----------Total cost
---------------------------------------Sh
July-------650---------------------17,125,000
August-----940---------------------17,800,000
September--1260--------------------18,650,000
October----990---------------------17,980,000
November---1150--------------------18,360,000

The university uses the high-low method to estimate costs.
Required:
(i) Variable cost per unit
(ii) Fixed costs for the period
(iii) The cost of maintaining 850 students in December 2007.(25 Marks)

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