NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
MARCH/APRIL 2015 EXAMINATION

COURSE CODE:                                                                              ACC 313                                                                               

COURSE TITLE:                                                                             Management Accounting

DURATION:                                                                                     2½ Hours

INSTRUCTIONS:                                                                            1. Attempt question 1 and any other 2 questions.

2. Question number 1 is compulsory and carries 25         marks, while other questions carry 15 marks each.

3. Present all your points in coherent and orderly manner.

Question 1

(a) What is a Management Information System?                                                                           (2 marks)

(b) Distinguish between data and information                                                                              (5 marks)

(c) State three qualities of management information                                           (3 marks each =9marks)

(d) Describe the three levels of information                                                        (3 marks each =9 marks)

(Full marks to any question mentioned and we'll explained.                                         (Total = 25 marks)

Question 2

From data below, you are required to compute the total earnings of the three employees of Sangodiya Industries Limited for the month of July 2005

Hours spent by employees

Gemila                        100hours

Chuks                          250hours

Ahmed                        120hours

Required: Calculate the gross pay for each of the employees based on the following methods:

(i)        Hasley using 50% of time saved

(ii)       Hasley-Weir

(iii)      Rowan                                                                                                                                    (15 marks)

Question 3

Mention and discuss any five methods of pricing stores issues                                                  (15 marks)

Question 4

Briefly discuss each of the below listed Management Accounting Techniques

(a) Cost Control

(b) Standard Costing

(c) Credit Control                                                                                                                              (15 marks)

Question 5

Management accounting assists the management to plan, control and make decisions.

What are the elements involved in the decision making, planning and control processes.      (15 marks)

Question 6

What is the Definition Management Accounting according to this different association and Accountants?

(a) CIMA

(b) MAPC

(c) Sizer                                                                                                                                             (15 marks)