File Details:

Questions:

1. What is cost of production?
2. Distinguish between direct and indirect materials.
3. What is a daily log sheet?
4. What is non-monetary incentive?
5. What is marginal costing?
6. Difference between overhead distribution and allocation.
7. Give the method of calculation of wages under Rowan Premium Plan.
8. Differentiate between variable and semi-variable overheads.
9. What is meant by Cost Accounting? Explain its objectives and limitations.
10. What do you mean by Element of Cost? Explain clearly the element of total cost.
11. What do you mean by Management Accounting? Discuss its nature and scope.
12. A furniture company manufactures stools, chairs and tables. The materials and wages cost per unit of furniture are given. The factory overhead during the month was Rs. 36,000. Determine the factory cost of each type of furniture assuming equivalences for overhead allocation.
13. The figures relate to two jobs. Works on cost is 50% on Prime cost and office on cost is 50% on labour. Find out the total cost of each job.