File Details:

Questions:

1. Explain the installation of a Costing system.
2. Differentiate between Financial and Cost Accounting.
3. List out the scope of Cost Accounting.
4. Explain the concept of Material and Labour Variances.
5. List differences between Cost Centre and Cost Unit.
6. Explain the applications of Marginal Costing.
7. Discuss the modern-day classification of cost with the help of relevant examples.
8. Write a detailed note on Labour and Material Costing.
9. Explain various methods and techniques of Costing.
10. Outline the detailed format of a Cost Sheet highlighting its various elements.
11. Prepare a Cost Sheet for a factory producing a standard product based on the given data for January 2022. Find the selling price per unit with a profit markup of 20% of the selling price.
12. What do you understand by Marginal and Absorption Costing? Compare and contrast between these two methods of costing.
13. Discuss in detail the functions and scope of Management Accounting.
14. Prepare an income statement under Absorption Costing and Marginal Costing from the provided data including fixed cost, variable cost, production, sales, and closing stock.