Q.1 State whether following statements are true or false:
(i) Variable cost per unit remains unchanged when output is increased or decreased.
(ii) Cost accounting is used in manufacturing and non-manufacturing undertakings.
(iii) Aggregate of all direct costs is known as Prime Cost.
(iv) Fixed cost per unit decreases wit increase in size of output.
(v) Overheads represent sum total of all indirect expenses i.e. Indirect Material, Indirect Labour and Indirect Expenses.
(vi) Office rent and director's salary are examples of fixed costs.
(vii) Semi-variable costs are partly variable and partly fixed.
(viii) Cost of searching new and improved products, techniques or methods is known as research and development cost.
(ix) In a hospital, operating costing method shall generally be employed to ascertain costs.
(x) Account office expenses, audit fees and legal expenses are examples of Office and Administrative overheads
Q2. Define Costing.
Q.3 What are the limitations of financial accounting which led to the development of cost accounting?
Q.4 Briefly explain (a) Allocation (b) Apportionment and (c) Absorption of Overheads.
Q.5 Write short notes on (i) Imputed costs and Sunk costs (ii) Product Costs and Period Costs
Q.6 Write short notes on (i) Cost Center (ii) Profit Center
Q.7 Give classification of Costs on the basis of :
(i) On the basis of elements
(ii) on the basis of function
(iii) on the basis of nature
(iv) on the basis of behaviour
(v) on the basis of controllability
(vi) on the basis of occurence
(vii) on the basis of managerial decision making
Q.8 What are (a) Costing Methods (b) Costing Techniques (c)
Q9 With respect to cardiology department in a multi speciality hospital, give five examples each of (i) direct costs and (ii) indirect costs
Q.10 Give five examples each of (i) Office and Administrative costs (ii) Selling and Distribution Costs
Q.11 Below is a list of industries, you are required to provide common cost unit and method of costing generally used in that industry:
(i) Variable cost per unit remains unchanged when output is increased or decreased.
(ii) Cost accounting is used in manufacturing and non-manufacturing undertakings.
(iii) Aggregate of all direct costs is known as Prime Cost.
(iv) Fixed cost per unit decreases wit increase in size of output.
(v) Overheads represent sum total of all indirect expenses i.e. Indirect Material, Indirect Labour and Indirect Expenses.
(vi) Office rent and director's salary are examples of fixed costs.
(vii) Semi-variable costs are partly variable and partly fixed.
(viii) Cost of searching new and improved products, techniques or methods is known as research and development cost.
(ix) In a hospital, operating costing method shall generally be employed to ascertain costs.
(x) Account office expenses, audit fees and legal expenses are examples of Office and Administrative overheads
Q2. Define Costing.
Q.3 What are the limitations of financial accounting which led to the development of cost accounting?
Q.4 Briefly explain (a) Allocation (b) Apportionment and (c) Absorption of Overheads.
Q.5 Write short notes on (i) Imputed costs and Sunk costs (ii) Product Costs and Period Costs
Q.6 Write short notes on (i) Cost Center (ii) Profit Center
Q.7 Give classification of Costs on the basis of :
(i) On the basis of elements
(ii) on the basis of function
(iii) on the basis of nature
(iv) on the basis of behaviour
(v) on the basis of controllability
(vi) on the basis of occurence
(vii) on the basis of managerial decision making
Q.8 What are (a) Costing Methods (b) Costing Techniques (c)
Q9 With respect to cardiology department in a multi speciality hospital, give five examples each of (i) direct costs and (ii) indirect costs
Q.10 Give five examples each of (i) Office and Administrative costs (ii) Selling and Distribution Costs
Q.11 Below is a list of industries, you are required to provide common cost unit and method of costing generally used in that industry:
Industry
|
Cost Unit
|
Method of costing
|
Brewery
| ||
Building
| ||
Power
| ||
Sugar
| ||
Ship Building
| ||
Steel
| ||
Hospital
| ||
Transport
|
Q.12 Differentiate between: (a) Controllable Costs and Uncontrollable Costs (b) Normal and Abnormal Costs
Q.13 What is Cost Sheet? Give format of a model Cost Sheet.
Q.14 Enumerate the reasons which give rise to difference between Costing and Financial profit figures
Q.15 Enumerate various costing techniques.
Q.16 What are various costing methods? Give two examples of industries in which they are applied.
Q.17
Q.14 Enumerate the reasons which give rise to difference between Costing and Financial profit figures
Q.15 Enumerate various costing techniques.
Q.16 What are various costing methods? Give two examples of industries in which they are applied.
Q.17
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