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Cost Control

Excellent commerce point > Cost Control
Standard Costing
10
Jun

Standard Costing Standard Costing:A technique which uses standards for costs and revenues for the purposes of control through variance analysis. Variance:A divergence from the pre-determined rates. Process of Standard Costing: Setting standards Ascertaining actual costs Compare standard cost and actual cost Investigate the reasons for variances Disposed-off the variance Types of Variance: Controllable variances: Those […]

Posted in: ca intermediate notes ,
Tags: Accounting Tools. , ca foundation , cma foundation , Commerce Coaching , Cost Accounting , Cost Control , ECP Coaching , Standard Costing , Standard Costing Techniques , Variance Analysis ,
Unit and Batch Costing
06
Jun

Unit and Batch Costing Question 1.Explain ‘Job Costing’ and ‘Batch Costing’. [CA Inter May 2Q01, May 2018, 5 Maris]Answer:Job costing: Job costing is the category’ of basic costing methods which is applicable where the work consists of separate contracts, jobs or batches, each of which is authorised by specific order or contract. According to this […]

Posted in: ca intermediate notes ,
Tags: Batch Costing , Cost Accounting , Cost Analysis , Cost Control , Costing Techniques , Job Costing , Manufacturing Costing , Per Batch Cost , Per Unit Cost , Production Costing , Types of Costing Methods , Unit Costing ,
Cost Accounting System
06
Jun

Cost Accounting System – CA Inter Costing Study Material Question 1.Explain integrated accounting system and state its advantages. fCA Inter Nov. 2019, May 2019, May 2015, May 2012, May 2010, 5 Marks]Answer:Integrated Accounting System:Integrated Accounting System is a system of accounting, where the cost and financial accounts are kept in the same set of books. […]

Posted in: ca intermediate notes ,
Tags: Accounting Methods , Cost Accounting , Cost Accounting System , Cost Analysis , Cost Control , Financial Management , Job Costing , Management Accounting , Process Costing , Production Cost Tracking , Types of Costing Systems ,
Cost Sheet
05
Jun

Cost Sheet – CA Inter Costing Study Material Question 1.State the names of cost heads in a cost sheet on the basis of functions and define all the cost heads. [ICAI Module]Answer:The costs as classified on the basis of functions are grouped into the following cost heads in a cost sheet:(i) Prime Cost(ii) Cost of […]

Posted in: ca intermediate notes ,
Tags: Cost Accounting , Cost Analysis , Cost Control , Cost Sheet , Cost Sheet Format , Factory Cost , Manufacturing Cost , Prime Cost , Product Costing , Selling Price , Statement of Cost , Total Cost ,
Overheads: Absorption Costing Method
03
Jun

Overheads: Absorption Costing Method – CA Inter Costing Question Bank Question 1.Distinguish between Fixed overheads and Variable overheads. (May 2010, 2 marks)Answer:Fixed Overheads Vs. Variable OverheadsFixed overheads are not affected by any variation in the volume of activity, e.g., managerial remuneration, rent etc. These remain the same from one period to another except when they […]

Posted in: ca intermediate notes ,
Tags: Absorption Costing , Accounting Methods , Cost Accounting , Cost Control , Full Costing , Indirect Costs , Manufacturing Costs , Overhead Allocation , Overheads , Product Costing ,
Employee Cost and Direct Expenses
03
Jun

Employee Cost – CA Inter Costing Study Material Question 1.Distinguish between ‘Direct and Indirect labour costs’. [CA In ter Nov. 2001, 2 MarksjAnswer:Direct Labour Cost is the cost of benefits paid or payable to the employees which can be directly attributed to a cost object in an economically feasible manner. This can be easily identified […]

Posted in: ca intermediate notes ,
Tags: Accounting Terms , Business Expenses , Business Finance , Cost Accounting , Cost Control , Direct Cost Examples , Direct Expenses , Employee Cost , Employee Cost vs Direct Expenses , Expense Categorization , Financial Management , Indirect Expenses , Operating Expenses , Payroll Cost ,