Cost & Management Accounting Date: 09th March. 2013. The students of MMS Year 2nd Sem.

are given the following two assignments. Both the assignments are required to be submitted on or before 20th March 2013. Late submission will not be accepted. No. of Assignment 1 Question for the Assignment Prepare Cost Sheet for any food product, which should content: All types of cost incurred for that product. Detailed description of each type of cost. Cost Sheet for per unit as well as for 100 units.

Students have been given the question bank. The number of question indicates the roll no. of the student. Each student is required to take a question as per his/her roll no. and detailed answer is required to be written on regular assignment paper. Question Bank 1. What are the advantages of cost accounting? 2. Explain in detail the Types of cost on the basis of Nature of expense. 3. Explain in detail the Types of cost on the basis of Relation to cost centre. 4. Explain in detail the Types of cost on the basis of Function. 5. Explain in detail the Types of cost on the basis of Behaviour. 6. Explain in detail the Types of cost on the basis of Management decision. 7. Explain in detail the Types of cost on the basis of Time period. 8. Explain in detail the Types of cost on the basis of Production process. 9. What is Job costing? Explain with at least 2 appropriate examples. 10. What is Process costing? Explain with at least 2 appropriate examples. 11. What is Service costing? Explain with at least 2 appropriate examples. 12. Distinguish between Cost Accounting & Management Accounting 13. Distinguish between Management Accounting & Financial Accounting 14. Distinguish between Financial Accounting & Cost Accounting 15. Distinguish between Break Even Point (BEP) & Margin of Safety (MOS) 16. Distinguish between Fixed cost & Variable cost 17. Distinguish between Fixed cost & Semi- Variable cost 18. Distinguish between Variable Cost & Semi- Variable cost 19. What is Break Even Point? Explain with graph. 20. What is Contribution? How the decision of pricing can be taken with the help of contribution? 21. How the marginal costing is helpful in decision making? Explain. 22. What do you mean by budgetary control? 23. Explain the advantages of budgetary control. 24. Explain in detail the concept of Flexible budget. 25. Explain in detail the concept of Functional budget. 26. Explain in detail the concept of Master budget.

27. Explain in detail the concept of Cash budget. 28. Explain in detail the concept of Zero based budget. 29. Explain in detail the concept of Responsibility Centre. 30. What are the types of responsibility centers? 31. What do you mean by Cost centre? Explain in detail responsibilities & performance measurement tools for the manager of Cost centre. 32. What do you mean by Profit centre? Explain in detail responsibilities & performance measurement tools for the manager of Profit centre. 33. What do you mean by Revenue centre? Explain in detail responsibilities & performance measurement tools for the manager of Revenue centre. 34. What do you mean by Investment centre? Explain in detail responsibilities & performance measurement tools for the manager of Investment centre. 35. What is Responsibility accounting? Explain. 36. Which are the performance measurement tools for responsibility accounting? 37. Explain in detail the concept of transfer price. 38. Explain the methods to set the transfer price. 39. How the price can be determined with the help of marginal costing? 40. Graphically explain the concept Fixed Cost. 41. Graphically explain the concept Semi-variable Cost. 42. Graphically explain the concept Variable Cost. 43. What are the types of budget? 44. How the budgetary control helps the organization? Explain. 45. List out all the formulae of marginal costing. 46. Prepare the format of cost sheet. 47. Prepare the format of marginal cost sheet. 48. Benefits of cost techniques in organization. 49. Write the format of cost sheet in detail. 50. Transfer price is not an accounting tool. Explain.