AUE 313 MARCH/APRIL 2016 EXAMINATIONS

NATIONAL OPEN UNIVERSITY OF NIGERIA

14-16 AHMADU BELLO WAY, VICTORUA ISLAND LAGOS

MARCH/APRIL 2016 EXAMINATIONS

SCHOOL OF MANAGEMENT SCIENCES

COURSE CODE: AUE 313

COURSE TITLE: MANAGEMENT ACCOUNTING

TIME ALLOWED: THREE AND HALF HOURS

Instructions:

1.       Attempt question number 1 and any other 3.

2.       Question number 1 is compulsory and carries 25 marks while the others carries 15 marks each

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

Question one

Akola Nigeria limited began work on 1 January 2010 on a contract for the building of the new Lagos fund amounting N 1, 800,000. The retention on contract is agreed at 10%. On the certificate of work approved amounted to N1, 200,000. The following information is as follows:

Materials sent to site                                                      450,000

Labour engaged on site                                                   360,000

Plant installed at cost                                                       180,000

Direct expenditure                                                             72,000

Establishment charges                                                       150,000

Materials returned to stores                                             15,000

Cost of work not yet certified                                            90,000

Materials on site at 31 December 2010                           45,000

Wages accrued at 31 December 2010                      15,000

Direct expense accrued at 31 December 2010               3,000

Value of plant at 31 December 2010                               120,000

You required to complee the Contract

*******************************************************************************

you can also attend Online Classes,Online Colleges,online tutorials online degree ,



read more About law, insurance,Health e.t.c. to be well prepared for exam Goodluck.