Wednesday 30 November 2016

Cost & Management Accounting - Are all fixed costs sunk costs Explain



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Cost & Management Accounting



Note :- Solve any 4 Questions


All Questions Carry equal Marks.



Questions:


  1. a) Are all fixed costs sunk costs? Explain

b) What are opportunity costs? Are opportunity costs relevant in decision    making? Give examples in support of your answer.


c) What are the various methods by which you would split semi-variable costs    in its fixed and variable elements?


  1. a) What are the characteristics of companies that are like to be using job order cost system? Specify five concrete situations when use of job order cost system is most appropriate.

b) Why is it difficult to identify manufacturing overheads with products manufactured? Also, state the difference between the manufacturing overheads control account and manufacturing overhead applied account.



  1. a) What do you understand by integrated accounts? State the advantages of integrated accounts. State in brief the procedure of installing such a system in a newly started manufacturing firm.


b) Why is it necessary to reconcile cost and financial accounts?



  1. a) Explain How budgeting and budgetary control operate together in a total management system.


b) Write a note on the advantages and limitations of budgeting.


  1. a) What is “standard costing” and how would you distinguish it from “budgetary control?”


b) How do standards and standard costs facilitate managerial planning and control?




Need Answer Sheet of this Question paper, contact
ARAVIND – 09901366442 – 09902787224


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