IIBM – Strategic Cost Management Answer sheet

Multiple Choices:

1. A set of policies, procedures, and approaches that helps a firm attain and retain success for a long is termed as

a)Benchmarking
b) Life cycle costing
c) Target costing
d) Strategy

1. A cost management tool that brings in its focuses on the activities performed to produce a product is called

 a)Target costing
b) Life cycle costing
c) ABC
d) Benchmarking

1. Costs incurred in the past that are not relevant to present decisions are a)
   Fixed cost
   b) Sunk cost
   c) Opportunity cost
   d) Indirect costs
2. In a process costing system, when items are sold, the cost of the item is moved from a)Work-in-progress to finished goods
   b) Work-in-progress to Cost of goods sold
   c) Cost of goods sold to finished good
   d) Finished goods to cost of goods sold
3. Differential costs are sometimes referred to as a)
   Incremental costs
   b) Relevant costs
   c) Avoidable costs
   d) Both a& b
4. The customer service feature does not include a)
   Warranty and repair service
   b) Adherence to specifications
   c) On-time delivery
   d) Follow up with the customer after the sale.
5. Product costs are a function of

a)Product design
b) Specific customers
c) Customer Characteristics
d) Market segments

1. The company’s overall sales performance is influenced by factors such as a)
   Sales volume
   b) Sales Mix
   c) Market size and share
   d) All of the above
2. Customer life cycle costs include

a) Purchase price
b) Start-up costs
c) Post-purchase cost
d) All of the above

1. Which stage of the product life cycle is characterized by little competition and slowly increasing sales?
   a) Introduction
   b) Growth
   c) Maturity
   d) Decline

Part Two:

1. List the characteristics of the balanced scorecard.
   2. What are the methods of Alternative costing?
   3. Differentiate between fixed cost and variable cost.
   4. Discuss the dissimilarities between job order costing & process costing systems.

Case let 1

1. Discuss why Vikram has an ethical responsibility to take some action against the MNC.
2. Which of the alternative courses would be the most appropriate in the given situation?

Case let 2

Questions:
1. Prepare an organizational structure for Brilliant University.
2. List the names of the departments under the university.

Section C: Long Questions (30 Marks)

1. What is “Cost management”? Explain the primary objectives of cost management.
2. Define “Target costing”; discuss the principles of target costing.

IIBM Institute

IIBM Answer sheets, academic support

 IIBM assignment help, student assistance

IIBM Institute solutions

IIBM MBA answer sheets

IIBM MBA case study answers

IIBM case study answers

IIBM emba answer sheets

IIBM emba case study papers

IIBM gms answer sheets

IIBM gms case study papers

IIBM advance diploma answer sheets

IIBM advance diploma case study answer sheets

IIBM DMS case study answers

IIBM DMS case study papers

IIBM Meerut

IIBM Patna

IIBM Guwahati

IIBM Pune

IIBM Bangalore

At Global Study Solutions, we take immense pride in our ability to offer specialized support to students pursuing various programs at IIBM Institute (IIBM Institute of Business Management). Our dedicated team comprises experienced professionals who excel in crafting precise and well-researched solutions for assignments and case studies across different disciplines and courses.

Our commitment to aiding students in achieving academic success aligns perfectly with the educational standards upheld by IIBM Institute (IIBM Institute of Business Management). We understand the importance of delivering high-quality, customized solutions that meet the unique requirements of assignments and case studies within the institute\’s curriculum.

Whether in MBA, EMBA, GMS, DMS, or any other programs offered at IIBM Institute (IIBM Institute of Business Management), our team is equipped to provide expert guidance and meticulously crafted solutions. We prioritize accuracy, originality, and timely delivery; ensuring students receive the necessary assistance to excel academically.

We are dedicated to fostering an environment of academic excellence and providing dependable support to the esteemed students of IIBM Institute.

IIBM Answer Sheets

Customized Answer Solutions

MBA Assignment Solutions

EMBA Case Study Solutions

GMS Answer Sheets

DMS Assignment Help

Professional Writing Assistance

Tailored Academic Solutions

Comprehensive Answer Sheets

Specialized IIBM Support

Academic Writing Services

Reliable IIBM Assistance

IIBM MBA case lets answer sheets

IIBM MBA answer sheets

IIBM MBA answer papers

IIBM EMBA answer sheets

IIBM EMBA case lets answer sheets

IIBM EMBA case studies

IIBM EMBA answer papers

IIBM Master Program in Lean Six Sigma Management answer sheets

IIBM Master Program in Total Quality Management answer sheets

IIBM Master Program in Accounting and Finance Management answer sheets

IIBM Master Program in Digital Marketing and Sales answer sheets

Get expert assistance with your IIBM Institute (IIBM Institute of Business Management). Assignments and answer sheets from our professional academic writing services.

Our team specializes in supporting students with IIBM Institute coursework, ensuring top-notch answer sheets and comprehensive solutions.

Ace, with our tailored assistance, your IIBM Institute exams, offering precise guidance and accurate answer sheet preparation.

Seeking reliable help for your IIBM Institute studies? Trust our academic writing services for meticulously crafted answer sheets and exceptional support.

Score high in your IIBM Institute (IIBM Institute of Business Management).  Assessments by availing our expert aid in preparing comprehensive and well-structured answer sheets.

Project Report Writing Services

Customized Project Reports

IIBM Institute Project Support

Professional Project Report Assistance

Tailored Solutions for Project Reports

Quality Project Documentation

Expert Project Report Writers

Comprehensive Project Analysis

Structured Project Report Services

Detailed Project Documentation

IIBM Project Evaluation Support

Custom Project Report Formats

Project Research and Analysis

MBA/EMBA/GMS/DMS Project Reports

IIBM Institute (IIBM Institute of Business Management).  Assignments, solved papers, and study materials are available through our academic writing services.

Seeking assistance with IIBM Institute coursework? Our professional team delivers accurate and timely solutions for all your academic needs.

Our specialized academic writing support simplifies access to IIBM Institute question papers and model answers.

Need expert guidance for your IIBM Institute assessments? Our service offers comprehensive solutions for students seeking assistance.

Our academic writing services ensure precise and high-quality answers for IIBM Institute assignments, aiding students in their educational journey.

Academic writing professionals play a crucial role in assisting students with their university assignments, striving to achieve several key goals:

Quality Assurance: Their primary aim is to deliver high-quality content that meets academic standards and fulfills the requirements of the university assignments. This involves thorough research, proper structuring, and adherence to guidelines provided by the educational institution.

Originality and Plagiarism-Free Content: Professionals in this field emphasize originality by creating authentic content free from plagiarism. To maintain academic integrity, they ensure that all information is appropriately cited and referenced.

Meeting Deadlines: Timely submission is a significant goal for academic writing professionals. They work within specified deadlines to provide students with completed assignments, enabling them to submit their work punctually.

Clear and Coherent Communication: Professionals strive to convey complex ideas in a clear, coherent, and academically appropriate manner. They focus on effective communication to ensure the content is easily understandable to the target audience.

Supporting Learning and Comprehension: Beyond completing assignments, academic writing professionals aim to support students\’ learning by providing explanations, analysis, and additional resources that help students grasp the subject matter more comprehensively.

Customization and Client Satisfaction: They tailor their services to individual student needs, providing personalized assistance and ensuring client satisfaction by addressing specific requirements and preferences.

Continuous Improvement: Academic writing professionals continuously update their knowledge base, research techniques, and writing skills to adapt to evolving academic standards and deliver the best possible support to students.