Question 1:
What do you mean by marginal costing? What are its merits and demerits?
Question 2:
Describe the concept of contribution. How it associated to profits?
Question 3:
How are variable and fixed costs treated in the marginal costing?
Question 4:
Illustrate PN ratio and Margin of Safety? Describe their uses.
Question 5:
Illustrate the term profit planning? Draw a break-even chart.
Question 6:
Describe the practical uses of the marginal costing.
Question 7:
Define the term marginal costing. Is it possible or desirable at times to decrease selling price below total cost. If yes, narrate the conditions wanting such action.