REVISED SYLLABUS – 2008 REVALIDATION TEST PAPERS INTERMEDIATE Group II THE INSTITUTE OF COST ACCOUNTANTS OF INDIA DIRECTORATE OF STUDIES © Copyright Reserved by the Institute of Cost Accountants of India 2 Questions to the Revalidation Test Paper — Intermediate-Group-II PAPER - 8 COST AND MANAGEMNET ACCOUNTING QUESTIONS TO REVALIDATION TEST PAPER-RV/08/CMA/2010 Time Allowed : 3 Hours Answer Question No. 1 which is compulsory and five from the rest. 1. (a) State whether the following
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Administration/management costs Direct costs: £1‚775‚000. Indirect costs: an apportionment of occupancy costs. Direct and indirect costs are charged to degree courses on a percentage basis. (3) Faculty costs Direct costs: £700‚000. Indirect costs: an apportionment of occupancy costs and central service costs. Direct and indirect costs are charged to teaching departments. (4) Teaching departments Direct costs: £5‚525‚000. Indirect costs: an apportionment of occupancy costs and central service costs plus all faculty
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2/1/2013 12MCOM03: Project Management SESSION – 6 & 7 j ‚ y Project: Time‚ Cost & Quality Estimating Projects • Estimating – The process of forecasting or approximating the time and cost of completing project deliverables. – The task of balancing the expectations of stakeholders and the need for control while the project is implemented • Types of Estimates – Top-down (macro) estimates: analogy‚ group consensus‚ or mathematical relationships – Bottom-up (micro) estimates: estimates of
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Scenario Ⅲ Other Industries That Have not Repetitve Processes—AdvertisingFirms 8 2.3. Standard Costing System on Different SIzes 9 2.4. Variance Analysis 9 2.4.1 Total Production Cost Variance 9 2.4.2 Marterials Variances 10 2.4.3 Fixed overhead Variance 11 2.5. Summary 12 3. Part Ⅱ—Relevant and Irrelevant Costs and Incomes 13 3.1. Definition 13 3.2. Scenario Ⅰ—Shutting Down or Keeping Open Part of the Business 13 3.2.1 Relevant and Irrelevant Costs andIncomes in Scenario Ⅰ 16 3
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arising in relation to the use of such materials. ii KAPLAN PUBLISHING CONTENTS Session Page Session 1: The Business Environment Session 2: Collection of cost information; Cost behaviour 11 Session 3: Accounting for overheads 17 Session 4: Forecasting Methods and techniques 27 Session 5: Standard Costing and variance analysis 39 Session 6: Investigating and reporting variances 53 Session 7: Performance indicators 67 Session 8:
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Sample Exam paper Exam Code(s): 2BC1; 2BC2; 2BC3; 2BC4; 2BC5; 2BF1; 2CE3‚ 3CL1; 4CL2; 3IF1; 4BI1; 3BJ121; 1EM1; 1OA1‚ 2BCA1‚ 2BCM Exam(s): 2BC1 B.Comm. Degree; 2BC2 B.Comm Degree (French); 2BC3 B. Comm. Degree (German); 2BC4 B. Comm. Degree (Spanish); 2BC5 B. Comm. Degree (Italian); 2BF1 Business Information Systems degree; 3CL1 Corporate Law degree; 4CL2 Corporate Law Degree; 3IF1 Information Technology degree; 4BI1 Industrial Engineering and Information Systems degree; 3BJ121 Management Engineering
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* Standard Costing Introduction Cost figures‚ in general‚ can be divided into two broad categories. They are Historical Costs and Standard Costs. Historical costs are available‚ after they are incurred. Such cost figures may have some value‚ once they are analysed. By analysis‚ the inefficiencies and deficiencies in production may be detected. However‚ the damage would have occurred‚ by the time the analysis under Historical costs is made. Analysis can be done only after the completion of the
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Ch-1 ISO 9000 | A set of standards governing the requirements for documentation of a quality program. | | | | Program | A series of coordinated‚ related‚ multiple projects that continue over extended time intended to achieve a goal. | | | | Project | A complex‚ nonroutine‚ one-time effort to create a product or service limited by time‚ budget‚ and specifications. | | | | Project life cycle | The stages found in all projects—definition‚ planning‚ execution
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metres of wood at £6.00 per metre 1 piece of moulded plastic 20 screws and washers 30 minutes of time Marginal costing: * It is a costing system which treats only the variable manufacturing costs as product costs. The fixed manufacturing overheads are regarded as period cost * In marginal costing‚ fixed production costs are treated as period cost and are written off as they are incurred The difference between marginal costing & absorption costing is as below: 1. Under marginal
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Costs for Product A and B using the traditional volume-based product costing system. The Overhead costs of Duo plc have been allocated using the Traditional costing system in table 1. The Overhead costs have been allocated using Direct Labour Hours (DLH) of production (Direct Labour Hour absorption approach). That is‚ Total Overhead costs were divided by the addition of all DLHs‚ giving us the overhead rate per labour hour (£10.345). This method was used since‚ firstly‚ it is the basic method
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