File Details:

Questions:

1. What is Cost Accounting?
2. What do you mean by Material Control?
3. What is Overhead?
4. What is Job Costing?
5. What is meant by Certified Work?
6. What is Economic Order Quantity?
7. What is Tender Price?
8. What do you mean by Prime Cost?
9. Define Operating Cost.
10. What do you understand by Cost Reconciliation Statement?
11. Explain the different elements of cost.
12. How is labour turnover measured? Why is high labour turnover a matter of serious concern to the management?
13. What is Machine-Hour Rate? How is it determined?
14. Why do you need reconciliation of cost and financial accounts? Explain.
15. What points will you take into consideration in submitting quotation?
16. Discuss the different methods of pricing materials issued from stores for production and state which of these methods is most accurate.
17. Discuss the terms Costing, Cost Accounting and Cost Accountancy. What are the functions of Cost Accounting?
18. What do you understand by normal or abnormal wastage of materials during the process of manufacture? State briefly how each should be treated in cost accounts.