File Details:

Questions:

1. Distinguish between Direct Material and Indirect Material.
2. Give a classification of costs.
3. How are wages payable to a worker calculated under Taylor's Differential Piece Rate System?
4. What shall be the variable cost ratio when P/V ratio is 40% and percentage of project with sales if Margin of Safety ratio is given 30%?
5. Calculate total variable costs and fixed costs at production levels of 9000 units and 12000 units.
6. Calculate the most economical order quantity for given data including material price variation.
7. What do you mean by absorption of factory overheads? Name four methods of absorption.
8. How are Break-Even Point in units and Break-Even Point in calculated?
9. Distinguish between Gross Works cost and Works cost, Cost of Goods sold and Cost of sales.
10. Define cost unit, cost centre, operating costing, and contract costing.
11. Discuss the statement 'Cost Accounting is an indispensable tool of modern management.'
12. Explain time rate system and piece rate system of wages payment giving their merits and demerits.
13. Prepare a comparative table under Halsey-Premium Plan and Rowan Premium Plan for given time rates and actual times.
14. Calculate Minimum Stock Level, Maximum Stock Level, and Ordering Level for given materials.
15. Explain FIFO, LIFO, and Weighted Average Price methods for pricing issue of materials.
16. Prepare a statement showing re-apportionment of expenses of service departments X and Y to production departments A, B, and C.
17. Calculate machine hour rates for production departments A, B, and C for given machine hours.
18. Determine selling price of a product for given costs and overhead percentages.
19. Explain the difference between Cost Accounting and Management Accounting.
20. Discuss the difference between marginal costing and absorption costing techniques of costing.
21. Give a pro forma of statement of cost and project under marginal costing method.
22. Calculate contribution, profit-volume ratio, break-even point, margin of safety, sales volume, and profit for given sales data.
23. Determine selling price for a product to earn the same rate of profit on selling price as a previous year considering changes in overhead rates.