Ignou student zone_ISZ

 1. Define Cost Accounting'. State its main objectives. 2. (a) What do you understand by direct material and indirect material ? Explain with examples. (b) How can labour turnover be reduced ?  3. Write short notes on any two of the following: (a) Purchase order (b) Work-in-Progress c) Contract Costing (d) Group Bonus Scheme Section-B 4. In a factory, the following purchases and issues of the material were made during the month of August, 2019. Prepare the Store Ledger Account under FIFO method: August Balance 300 units @ 7 3 each 1 4 Purchased 600 units @ 4 each 6 Issued 500 units 10 Purchased 700 units @ 6 each 15 Issued 800 units 19 Returned 50 units to store issued on August 6th and purchased on August 4th 23 Issued 100 units 5. (a) From the following information, compute wages of A and B under Taylor's differential Piece Rate System : Standard time allowed 10 units per hour Normal piece rate rs5 A produces 75 units in a day of 8 hours.  B produces 100 units in a day ...

IMPORTANT QUESTIONS ECO 10  1. Explain as to how abnormal loss and normal loss is treated in process Costing.   2. What are the factors taken into account for installation of a system of costing ? State the possible difficulties faced in installing such a system.   3. a. How would you classify the costs"on the basis of variability"? Explain.   b. What are the main advantages of a good system of material control.   c. What are the advantages of cost accounting to a manufacturing concern.   4. How would you classify selling and distribution overheads?  How are the selling overheads absorbed by the cost units?    5. Write short notes on the following:   Store keeping.   ABC analysis of inventory control.  Direct labour hour rate.  Appointed of overheads.   Payroll accounting.  Labour turnover.  Cost accounting.  Financial accounting.  Cost centre.  Over abs...