File Details:

Questions:

1. What is prime cost?
2. Name the different methods of absorption of factory overheads.
3. What is cost of goods sold?
4. Distinguish between marginal cost and variable cost.
5. What do you mean by ABC analysis?
6. Write a note on classification of cost.
7. What are LIFO and FIFO methods in materials accounting?
8. What is an incentive plan for wage payment? Discuss its importance. Distinguish between Halsey and Rowan system of wage payment.
9. Distinguish between a cost sheet and statement of cost. How a cost sheet helps in finding out tender price? Give a specimen of cost sheet.
10. Define Cost Accounting. Discuss its significance to the management. How does it differ from Financial Accounting?