Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
Make a Memorandum Reconciliation Account from the given particulars Profit shown by cost books Rs. 30,114 and by financial books Rs. 19,760. On reconciling the given information in available:
What do you mean by the term operation costing and operating costing? Explain their necessary features and state where these can be helpfully implemented.
Illustrate the meaning of process costing? In what types of industries is process costing usually applied?
A factory employs a job costing system. The given cost data are available from the books for the year ended 31st March:
What do you mean by the term job costing? Illustrate the main features of this method? Give a Performa cost sheet under such a system.
Explain the role of the cost accountant in finding out the quotation price for a tender.
You are needed to compute the machine hour rate essential to provide for recoupment of the cost of operating the machine.
What do you mean by absorption of overhead? Describe in brief the various methods for absorption of factory overheads?
Illustrate the objectives and characteristics of the Incentive Wage Scheme?
The values cost Rs. 1.50 per unit when bought in quantities and the carrying cost is estimated to be around 20% of average inventory investment on the annual basis.
In manufacturing its product Z, a company employs two kinds of raw materials A and B in respect of which the given information is supplied:
Explain the meaning, objectives and the basic principles of the material control system.
Comment on the Notional Costs and Imputed Costs mean the similar thing.
Differentiate between Costing and Cot Accounting. Describe the Objects of costing.
Illustrate out the usefulness of fixed budgeting and flexible budgeting from the standpoint of planning and control.
Costs may be categorized in a variety of ways according to information needs of management. Illustrate out this statement with appropriate examples.
You are provided with the given information relating to Cello Ltd. The accountant is presently preparing the budget for the next three months ending 30 June 2010.
Fixed manufacturing overhead costs would be decreased by Rs 10,000 per annum however non-manufacturing costs would remain unchanged. Suppose initially that the capacity that is needed for component
It is the company policy to apportion the maintenance department’s costs between the other three departments to remove those costs before apportioning the canteen costs between the production
By using marginal costing, make a profit statement to exhibit the actual results for the period.
Computed Overhead Absorption Rate (OAR) is Rs11. The actual overheads for Assembly Department were Rs 142,360 and actual direct labor hours worked was 12,515. Compute the amount of over or under abs
Given below are details of some of the budgets of Calissse Limited for the eight months ending 28 February 2012:
Describe how closing inventories are valued under the marginal and the absorption costing?
What are the other non-financial factors which require to be considered before taking a decision apart from the financial elements?
Compute an Overhead Absorption Rate (OAR) for each production department, by using the most appropriate basis of absorption.