Q.1 State whether following statements are true or false with very
brief reason in support.
(i) Variable cost per unit varies with
the level of output or activity.
(ii) Predetermined overhead absorption rates result in
under-absorption or over-absorption of overheads.
(iii) Secondary packing is an example of distribution cost
(iv)Total cost of a product or service = Primary cost + Overheads
(v) Labour
Turnover refers to the rate at which labour is producing goods for sale.
(vi) Fringe
benefits provided to employees are not a cost to the organization.
Q.2 What are the
main functions of Payroll department?
Q.3 What is
labour turnover? How it is measured? Suggest four ways to reduce labour
turnover.
Q.4 Suggest various methods of reapportionment of overheads where
service departments are mutually dependent.
Q.5 Mention various methods used in cost accounting for dealing
with over or under recovery of overheads.
Q.6 Briefly describe the treatment of following items of overhead
in costing:
(i) Actual or notional rent of building (ii) Primary and secondary
packing (iii) Royalties
(iv) Subsidized canteen or mess.
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