Cost Accounting

Topics: Costs, Marginal cost, Variable cost Pages: 6 (1759 words) Published: August 27, 2013
Biyani's Think Tank
Concept based notes

Cost Accounting
[ B.Com. Part-II]

B.N. Gaur

Lecturer Deptt. of Commerce & Management Biyani Girls College, Jaipur

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Published by :

Think Tanks Biyani Group of Colleges

Concept & Copyright :

©Biyani Shikshan Samiti
Sector-3, Vidhyadhar Nagar, Jaipur-302 023 (Rajasthan) Ph : 0141-2338371, 2338591-95 • Fax : 0141-2338007 E-mail : Website;

First Edition : 2009

While every effort is taken to avoid errors or omissions in this Publication, any mistake or omission that may have crept in is not intentional. It may be taken note of that neither the publisher nor the author will be responsible for any damage or loss of any kind arising to anyone in any manner on account of such errors and omissions.

Leaser Type Setted by : Biyani College Printing Department

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am glad to present this book, especially designed to serve the needs of the students. The book has been written keeping in mind the general weakness in understanding the fundamental concept of the topic. The book is self-explanatory and adopts the “Teach Yourself” style. It is based on question-answer pattern. The language of book is quite easy and understandable based on scientific approach. In this book I have tried to cover all the basic topics of Software Engineering like Analysis, Project Management, Quality Testing and Designing. Any further improvement in the contents of the book by making corrections, omission and inclusion is keen to be achieved based on suggestions from the reader for which the author shall be obliged. I acknowledge special thanks to Mr. Rajeev Biyani, Chiarman & Dr. Sanjay Biyani, Director (Acad.) Biyani Group of Colleges, who is the backbone and main concept provider and also have been constant source of motivation throughout this endeavour, who played an active role in coordinating the various stages of this endeavour and spearheaded the publishing work. I look forward to receiving valuable suggestions from professors of various educational institutions, other faculty members and the students for improvement of the quality of the book. The reader may feel free to send in their comments and suggestions to the under mentioned address.



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Theoretical Question
Q.1 What do you mean by Cost? Ans. Cost means account of expenditure incurred upon manufacturing of an article or providing any service. Q.2 Q.3 What do you understand by costing. What is meant by cost accounting. Ans. Costing is the technique and process of determining cost. Ans. Cost accounting is the provision of such analysis and classification of expenditure as will enable to ascertain the total cost of any particular unit of production. Q.4 Mention name of four product for which order for cost audit is issued. Cement Industry Sugar Industry (2) (4) Electric Industry Bactor Industry (3) Q.5 Ans. (1)

What is meant by supplementary cost? What is opportunity cost? Name four method of costing. Unit costing Operating costing Contract costing Process costing (2) (3) (4)

Ans. Supplementary cost is the cost of product other than direct cost. Q.6 Q.7 Ans. The value of opportunity for gone is known as opportunity cost. Ans. (1)

Q.8 Q.9

Explain Cost Unit? Explain term cost centre?

Ans. Cost unit is a measurement of any goods or service e.g. per ton km. per unit. Ans. Cost centre is a location or item of any equipment which are connected with an undertaking for which cost are ascertained. Q.10 Difference between costing & cost accounting. Ans. (1) Costing is a dynamic technique in which changes may take place from time to time in comparison to cost accounting that enables to determine and control the cost of manufactured goods. Fore more detail:-

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