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problem 1) Answer all the problems:

(i) describe the term Cost Accounting. prepare down the differences between cost accounting and financial accounting?

(ii) What do you mean by labour turnover? How is it computed?

(iii) Define cost sheet. Give the format of cost sheet.

(iv) What do you mean by work certified and work uncertified in contract costing?

(v) describe variance. What is favourable and adverse variance?

problem 2) What do you mean by absorption of overhead? Describe various method of factory overhead absorption.

problem 3) What do you mean by operating coating? Create a Transport Operating Cost Sheet with imaginary figures and discuss the different items included in it.

problem 4) From the following information, compute different types of Material Variance:

    Material                  Standad                                       Actual
    Copper            60 tons @Rs. 5 per ton         80 tons @Rs. 4.50 per ton
    Zinc                40 tons @Rs. 10 per ton       70 tons @Rs. 8 per ton
    Output                   70 ton                                    115 tons

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M94411

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