KSBM – Cost Accounting Management – Why is operating costing called service costing ?-Discuss the accounting treatment of the spoilage and defectives in cost accounts.

Why is operating costing called

 Cost Accounting Management

Questions:

Q1. Mention major items of expenses or income, which will appear in financial accounts, but will not normally appear in cost accounts.

Q2. What is standard costing and how would you distinguish it from budgetary control

Q3. If a company sells more units than it produces, would the the profits reported by absorption costing tend to be higher or lower than the profits reported by variable costing ?why?

Q4. Why is operating costing called service costing ? describe in brief the cost accumulating procedure under operating costing.

Q5. Discuss the accounting treatment of the spoilage and defectives in cost accounts.

Q6. Explain the meaning of batch costing how does such accosting differ from job costing?

Q7. Discuss briefly the principle to be followed while taking credit for profit on incomplete contracts?

Q8. Discuss the various methods of treatment of research and development costs in cost account.

 

 

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