Q 1. : Differentiate management accounting and cost accounting

Q 2. : Critique cost behavior as applied in manufacturing firms.

a) Should we reduce selling prices to sell more units?

b) How will costs and revenue change if output increased?

Q 3. : with appropriate illustration, discuss cost statements determining the prime cost, overhead/factory cost, and total cost.

Q 4. : With an appropriate illustration differentiate fifo from lifo

Q 5. : Discuss with illustration break even point analysis

Q 6. : Critique the economic order quantity with an appropriate illustration