MGT402 ( Cost and Management Accounting) ALL Current Mid Term Papers Spring 2016 & Past Mid Term Papers from 27 May 2016 to 08 June 2016

by **Admin** Tue May 31, 2016 10:30 pm

Paper 1
Difference between Salary and wages?
Define FOH absorption rate and how it is calculated?
Overhead FOH question had to calculate earnings.
What are the main reasons for labor turnover?
One question of Net profit regarding FOH.

Paper 2

Why is it necessary to select the appropriate capacity level for the calculation of overhead absorption rate? 3 marks
How is the variance between actual and applied FOH cost calculated? What is favorable and unfavorable variance? 5 marks
Following data relates to payroll record of Superior Manufacturer ltd.
Data Given
Required: Pass journal entries to record payroll expense and its payment. 5 marks

Write down any two methods to measure labor turnover, also mention their formulas. 5 marks