What is lean manufacturing? Explain its 3 M approach with suitable example.

Describe EOQ Model of Inventory Management with the help of suitable diagram.

Describe the importance of facility location. Explain its methods with suitable examples.

What are the factors affecting product design? Explain the various approaches of product design.

Explain the Scope and Functions of Operations Management.

What is meant by Operations Strategy? Explain the elements and types of operations strategy.

 Secret Reserve

Budgetary Control

 Responsibility accounting and conventional cost accounting

cost control and cost reduction

Explain the levels involved in Activity-Based costing.

Calculate the break-even point from the following information: Selling price = Rs. 3 per unit Variable cost = Rs. 2 per unit Fixed cost = Rs. 90,000 Estimated sales for the period = 100,000 units.

 What is a Sales Budget? How is it prepared?

What are the various methods of pricing? Explain with suitable examples.

Under what conditions, the income statement prepared under full costing or absorption costing and marginal costing will give similar results.

 Explain how the variance analysis relating to overheads differ from that relating to material and labour?

The following information is supplied to you: Standard time for a month: 4000 Hours Standard wage rate: Rs. 2.25 per hour Number of labourers employed: 30 Average working days in a month: 25 No. of hours a worker works per day: 7 hours Total wage bill in a month: Rs. 13,125 Idle time due to power failure: 100 hours You are required to calculate the following: a) Labour Cost Variance b) Labour Rate Variance c) Labour Efficiency Variance d) Labour Idle Time Variance.

 A company has decided to introduce a system of standard costing. What are the preliminaries to be considered before developing such a system? Explain.

 Two articles X and Y are manufactured in a department. Their specifications show that 2 X's or 8 Y's can be produced in one hour. The budgeted production for June, 2019 is 200 X's and 400 Y's. The actual production at the end of the month was 250 X's and 480 Y's and the actual hours spent on this production were 160. Find out the capacity, activity and efficiency ratios for June 2019. Also find out the calendar ratio if the actual working days during the month be 27 corresponding to 25 days in the budget.

Discuss the objectives and advantages of management accounting.