'Cost sheet' presentation slideshows

COST & MANAGEMENT ACCOUNTING

COST & MANAGEMENT ACCOUNTING. Prof. Ranjan Kumar Bal UTKAL UNIVERSITY. COST & MANAGEMENT ACCOUNTING (COMA). Provides information to managers for planning, controlling & decision making. The controller : The Chief Management Accountant

4.63k views • 181 slides

COST & MANAGEMENT ACCOUNTING

COST & MANAGEMENT ACCOUNTING. Prof. Ranjan Kumar Bal UTKAL UNIVERSITY. COST & MANAGEMENT ACCOUNTING (COMA). Provides information to managers for planning, controlling & decision making. The controller : The Chief Management Accountant

2.35k views • 181 slides

Lecture 10

Lecture 10. WO details Package Details Garment Details. What is in package?. Product description Raw Material Details Accessories description Communication details Delivery instructions Payment terms Delivery schedule Price Any other instruction. Package Reading.

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Cost Approval

Cost Approval. RLM System. Costing of Finished Goods Purchase Orders. Finished Goods Purchase Orders (FGPOs) are the orders Jordache places to the factories that produce the garments Costing of FGPOs to Related Factories is done in the factory by the Costing Department

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Actual Costing

Actual Costing. By MIS Department. What is Actual Costing?. Costing done by MG or the Factories is an estimate only Once the goods actually ship, Imports receives invoices for the various costs on the shipment

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Domestic Cost Entry and Approval

Domestic Cost Entry and Approval. RLM System. Costing of Finished Goods Purchase Orders. Domestic FGPOs are orders Directions placed directly to the factories Related Vendors (e.g., MG, AIHL) are NOT involved

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Import/Export Basics (Ch. 2)

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16 Cost sheet

16 Cost sheet.

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Actual Costing Division 46

Actual Costing Division 46. By MIS Department. Glossary of Training Terms. The following terms will be used throughout this training program: Field: A box on the screen into which you enter information

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Single-Payer Health Care Workshop

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Reprint OPAs & Cost Sheet (Company 01)

Reprint OPAs & Cost Sheet (Company 01). By MIS Department. Glossary of Training Terms. The following terms will be used throughout this training program: Field: A box on the screen into which you enter information

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Snowman Construction Company Performance Type Math Event 3 rd -5 th Grades

Snowman Construction Company Performance Type Math Event 3 rd -5 th Grades. Based on a project from Mailbox, Intermediate, Dec./Jan. 2002-03. Teacher Page. Math 3 rd -5 th Grades (could adapt for 1 st -2 nd ) Creator: Marge Humphrey MAP Standards: Knowledge- Goal 1.8 Performance-M1.

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A machine manufactures 10000 units of a part at a total cost of Rs. 21 out of which Rs. 18 is variable.

www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040 Cost and Management Accounting Total marks - 100 Section - A - Attempt any ten questions. Each question is 4 marks. (10 × 4 = 40) Q1) a) Define period cost. b) Explain the meaning of cost accounting. c) Distinguish between direct and indirect cost. d) Explain Contribution. e) How does cost volume, profit analysis is helpful in cost control. f) How margin of safety can be improved? g) What do you mean by relevant cost? h) State the cost data required for determining the profitability of various products. i) Explain various conditions of Depression. j) What is out of pocket cost? k) What are the limitations of standard costing? l) Distinguished between standard cost and estimated cost. m) Briefly explain labour variance. n) Explain the need for reconciliation between budgeted profit and actual profit. o) Prepare the Performa for cost sheet. Section – B – Attempt any 6 questions. Each question is 10 marks (10 × 6 = 60) Q2) what is meant by classification of overheads and why it should be attempted? Q3) Cost volume profit analysis is mainly used in guiding decisions yet to be made. Explain the statement by giving examples. Q4) Explain the meaning and uses of P/V ratio. Q5) The sales turnover and profit during two year were as follows. Year Sales Profit 2005 150000 20000 2006 170000 25000 you are required to calculate (a) Fixed cost (b) Breakeven point Q6) A machine manufactures 10000 units of a part at a total cost of Rs. 21 out of which Rs. 18 is variable. This part is readily available in market at Rs. 19 per unit. If the part is purchased from market then the machine can be utilized to manufacture a component in same quantity contributing Rs. 2 per component or it can be hired at Rs. 21000. Recommend which alternative is profitable. Q7) How product profitability can be ascertained with the technique of marginal costing? Q8) Explain various cost concepts in decision making. Q9) Distinguish between relevant and irrelevant cost. Q10) Explain briefly the significance of standard costing as a technique of cost control. Q11) Given that the cost standards for material consumption are 40Kg at Rs.10 per Kg. Compute the variances when actual are 48 Kg at Rs. 12 per Kg. Q12) Prepare cost sheet with the help of imaginary figures. Q13) What are the main advantages of preparing cost sheet? www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040

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Briefly explain labour variance.

www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040 Cost and Management Accounting Total marks - 100 Section - A - Attempt any ten questions. Each question is 4 marks. (10 × 4 = 40) Q1) a) Define period cost. b) Explain the meaning of cost accounting. c) Distinguish between direct and indirect cost. d) Explain Contribution. e) How does cost volume, profit analysis is helpful in cost control. f) How margin of safety can be improved? g) What do you mean by relevant cost? h) State the cost data required for determining the profitability of various products. i) Explain various conditions of Depression. j) What is out of pocket cost? k) What are the limitations of standard costing? l) Distinguished between standard cost and estimated cost. m) Briefly explain labour variance. n) Explain the need for reconciliation between budgeted profit and actual profit. o) Prepare the Performa for cost sheet. Section – B – Attempt any 6 questions. Each question is 10 marks (10 × 6 = 60) Q2) what is meant by classification of overheads and why it should be attempted? Q3) Cost volume profit analysis is mainly used in guiding decisions yet to be made. Explain the statement by giving examples. Q4) Explain the meaning and uses of P/V ratio. Q5) The sales turnover and profit during two year were as follows. Year Sales Profit 2005 150000 20000 2006 170000 25000 you are required to calculate (a) Fixed cost (b) Breakeven point Q6) A machine manufactures 10000 units of a part at a total cost of Rs. 21 out of which Rs. 18 is variable. This part is readily available in market at Rs. 19 per unit. If the part is purchased from market then the machine can be utilized to manufacture a component in same quantity contributing Rs. 2 per component or it can be hired at Rs. 21000. Recommend which alternative is profitable. Q7) How product profitability can be ascertained with the technique of marginal costing? Q8) Explain various cost concepts in decision making. Q9) Distinguish between relevant and irrelevant cost. Q10) Explain briefly the significance of standard costing as a technique of cost control. Q11) Given that the cost standards for material consumption are 40Kg at Rs.10 per Kg. Compute the variances when actual are 48 Kg at Rs. 12 per Kg. Q12) Prepare cost sheet with the help of imaginary figures. Q13) What are the main advantages of preparing cost sheet? www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040

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Cost volume profit analysis is mainly used in guiding decisions yet to be made. Explain the statement by giving examples

www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040 Cost and Management Accounting Total marks - 100 Section - A - Attempt any ten questions. Each question is 4 marks. (10 × 4 = 40) Q1) a) Define period cost. b) Explain the meaning of cost accounting. c) Distinguish between direct and indirect cost. d) Explain Contribution. e) How does cost volume, profit analysis is helpful in cost control. f) How margin of safety can be improved? g) What do you mean by relevant cost? h) State the cost data required for determining the profitability of various products. i) Explain various conditions of Depression. j) What is out of pocket cost? k) What are the limitations of standard costing? l) Distinguished between standard cost and estimated cost. m) Briefly explain labour variance. n) Explain the need for reconciliation between budgeted profit and actual profit. o) Prepare the Performa for cost sheet. Section – B – Attempt any 6 questions. Each question is 10 marks (10 × 6 = 60) Q2) what is meant by classification of overheads and why it should be attempted? Q3) Cost volume profit analysis is mainly used in guiding decisions yet to be made. Explain the statement by giving examples. Q4) Explain the meaning and uses of P/V ratio. Q5) The sales turnover and profit during two year were as follows. Year Sales Profit 2005 150000 20000 2006 170000 25000 you are required to calculate (a) Fixed cost (b) Breakeven point Q6) A machine manufactures 10000 units of a part at a total cost of Rs. 21 out of which Rs. 18 is variable. This part is readily available in market at Rs. 19 per unit. If the part is purchased from market then the machine can be utilized to manufacture a component in same quantity contributing Rs. 2 per component or it can be hired at Rs. 21000. Recommend which alternative is profitable. Q7) How product profitability can be ascertained with the technique of marginal costing? Q8) Explain various cost concepts in decision making. Q9) Distinguish between relevant and irrelevant cost. Q10) Explain briefly the significance of standard costing as a technique of cost control. Q11) Given that the cost standards for material consumption are 40Kg at Rs.10 per Kg. Compute the variances when actual are 48 Kg at Rs. 12 per Kg. Q12) Prepare cost sheet with the help of imaginary figures. Q13) What are the main advantages of preparing cost sheet? www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040

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Define period cost.

www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040 Cost and Management Accounting Total marks - 100 Section - A - Attempt any ten questions. Each question is 4 marks. (10 × 4 = 40) Q1) a) Define period cost. b) Explain the meaning of cost accounting. c) Distinguish between direct and indirect cost. d) Explain Contribution. e) How does cost volume, profit analysis is helpful in cost control. f) How margin of safety can be improved? g) What do you mean by relevant cost? h) State the cost data required for determining the profitability of various products. i) Explain various conditions of Depression. j) What is out of pocket cost? k) What are the limitations of standard costing? l) Distinguished between standard cost and estimated cost. m) Briefly explain labour variance. n) Explain the need for reconciliation between budgeted profit and actual profit. o) Prepare the Performa for cost sheet. Section – B – Attempt any 6 questions. Each question is 10 marks (10 × 6 = 60) Q2) what is meant by classification of overheads and why it should be attempted? Q3) Cost volume profit analysis is mainly used in guiding decisions yet to be made. Explain the statement by giving examples. Q4) Explain the meaning and uses of P/V ratio. Q5) The sales turnover and profit during two year were as follows. Year Sales Profit 2005 150000 20000 2006 170000 25000 you are required to calculate (a) Fixed cost (b) Breakeven point Q6) A machine manufactures 10000 units of a part at a total cost of Rs. 21 out of which Rs. 18 is variable. This part is readily available in market at Rs. 19 per unit. If the part is purchased from market then the machine can be utilized to manufacture a component in same quantity contributing Rs. 2 per component or it can be hired at Rs. 21000. Recommend which alternative is profitable. Q7) How product profitability can be ascertained with the technique of marginal costing? Q8) Explain various cost concepts in decision making. Q9) Distinguish between relevant and irrelevant cost. Q10) Explain briefly the significance of standard costing as a technique of cost control. Q11) Given that the cost standards for material consumption are 40Kg at Rs.10 per Kg. Compute the variances when actual are 48 Kg at Rs. 12 per Kg. Q12) Prepare cost sheet with the help of imaginary figures. Q13) What are the main advantages of preparing cost sheet? www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040

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Distinguish between direct and indirect cost.

www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040 Cost and Management Accounting Total marks - 100 Section - A - Attempt any ten questions. Each question is 4 marks. (10 × 4 = 40) Q1) a) Define period cost. b) Explain the meaning of cost accounting. c) Distinguish between direct and indirect cost. d) Explain Contribution. e) How does cost volume, profit analysis is helpful in cost control. f) How margin of safety can be improved? g) What do you mean by relevant cost? h) State the cost data required for determining the profitability of various products. i) Explain various conditions of Depression. j) What is out of pocket cost? k) What are the limitations of standard costing? l) Distinguished between standard cost and estimated cost. m) Briefly explain labour variance. n) Explain the need for reconciliation between budgeted profit and actual profit. o) Prepare the Performa for cost sheet. Section – B – Attempt any 6 questions. Each question is 10 marks (10 × 6 = 60) Q2) what is meant by classification of overheads and why it should be attempted? Q3) Cost volume profit analysis is mainly used in guiding decisions yet to be made. Explain the statement by giving examples. Q4) Explain the meaning and uses of P/V ratio. Q5) The sales turnover and profit during two year were as follows. Year Sales Profit 2005 150000 20000 2006 170000 25000 you are required to calculate (a) Fixed cost (b) Breakeven point Q6) A machine manufactures 10000 units of a part at a total cost of Rs. 21 out of which Rs. 18 is variable. This part is readily available in market at Rs. 19 per unit. If the part is purchased from market then the machine can be utilized to manufacture a component in same quantity contributing Rs. 2 per component or it can be hired at Rs. 21000. Recommend which alternative is profitable. Q7) How product profitability can be ascertained with the technique of marginal costing? Q8) Explain various cost concepts in decision making. Q9) Distinguish between relevant and irrelevant cost. Q10) Explain briefly the significance of standard costing as a technique of cost control. Q11) Given that the cost standards for material consumption are 40Kg at Rs.10 per Kg. Compute the variances when actual are 48 Kg at Rs. 12 per Kg. Q12) Prepare cost sheet with the help of imaginary figures. Q13) What are the main advantages of preparing cost sheet? www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040

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Distinguish between relevant and irrelevant cost.

www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040 Cost and Management Accounting Total marks - 100 Section - A - Attempt any ten questions. Each question is 4 marks. (10 × 4 = 40) Q1) a) Define period cost. b) Explain the meaning of cost accounting. c) Distinguish between direct and indirect cost. d) Explain Contribution. e) How does cost volume, profit analysis is helpful in cost control. f) How margin of safety can be improved? g) What do you mean by relevant cost? h) State the cost data required for determining the profitability of various products. i) Explain various conditions of Depression. j) What is out of pocket cost? k) What are the limitations of standard costing? l) Distinguished between standard cost and estimated cost. m) Briefly explain labour variance. n) Explain the need for reconciliation between budgeted profit and actual profit. o) Prepare the Performa for cost sheet. Section – B – Attempt any 6 questions. Each question is 10 marks (10 × 6 = 60) Q2) what is meant by classification of overheads and why it should be attempted? Q3) Cost volume profit analysis is mainly used in guiding decisions yet to be made. Explain the statement by giving examples. Q4) Explain the meaning and uses of P/V ratio. Q5) The sales turnover and profit during two year were as follows. Year Sales Profit 2005 150000 20000 2006 170000 25000 you are required to calculate (a) Fixed cost (b) Breakeven point Q6) A machine manufactures 10000 units of a part at a total cost of Rs. 21 out of which Rs. 18 is variable. This part is readily available in market at Rs. 19 per unit. If the part is purchased from market then the machine can be utilized to manufacture a component in same quantity contributing Rs. 2 per component or it can be hired at Rs. 21000. Recommend which alternative is profitable. Q7) How product profitability can be ascertained with the technique of marginal costing? Q8) Explain various cost concepts in decision making. Q9) Distinguish between relevant and irrelevant cost. Q10) Explain briefly the significance of standard costing as a technique of cost control. Q11) Given that the cost standards for material consumption are 40Kg at Rs.10 per Kg. Compute the variances when actual are 48 Kg at Rs. 12 per Kg. Q12) Prepare cost sheet with the help of imaginary figures. Q13) What are the main advantages of preparing cost sheet? www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040

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Distinguished between standard cost and estimated cost

www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040 Cost and Management Accounting Total marks - 100 Section - A - Attempt any ten questions. Each question is 4 marks. (10 × 4 = 40) Q1) a) Define period cost. b) Explain the meaning of cost accounting. c) Distinguish between direct and indirect cost. d) Explain Contribution. e) How does cost volume, profit analysis is helpful in cost control. f) How margin of safety can be improved? g) What do you mean by relevant cost? h) State the cost data required for determining the profitability of various products. i) Explain various conditions of Depression. j) What is out of pocket cost? k) What are the limitations of standard costing? l) Distinguished between standard cost and estimated cost. m) Briefly explain labour variance. n) Explain the need for reconciliation between budgeted profit and actual profit. o) Prepare the Performa for cost sheet. Section – B – Attempt any 6 questions. Each question is 10 marks (10 × 6 = 60) Q2) what is meant by classification of overheads and why it should be attempted? Q3) Cost volume profit analysis is mainly used in guiding decisions yet to be made. Explain the statement by giving examples. Q4) Explain the meaning and uses of P/V ratio. Q5) The sales turnover and profit during two year were as follows. Year Sales Profit 2005 150000 20000 2006 170000 25000 you are required to calculate (a) Fixed cost (b) Breakeven point Q6) A machine manufactures 10000 units of a part at a total cost of Rs. 21 out of which Rs. 18 is variable. This part is readily available in market at Rs. 19 per unit. If the part is purchased from market then the machine can be utilized to manufacture a component in same quantity contributing Rs. 2 per component or it can be hired at Rs. 21000. Recommend which alternative is profitable. Q7) How product profitability can be ascertained with the technique of marginal costing? Q8) Explain various cost concepts in decision making. Q9) Distinguish between relevant and irrelevant cost. Q10) Explain briefly the significance of standard costing as a technique of cost control. Q11) Given that the cost standards for material consumption are 40Kg at Rs.10 per Kg. Compute the variances when actual are 48 Kg at Rs. 12 per Kg. Q12) Prepare cost sheet with the help of imaginary figures. Q13) What are the main advantages of preparing cost sheet? www.answersheets.in info.answersheets@gmail.com info@answersheets.in 91 95030-94040

120 views • 8 slides