Question 1: Discuss the different methods of inventory control.
Question 2: What do you mean by the term cost sheet? State its major components. Make a cost sheet with imaginary figures.
Question 3:
a) Describe the different types of costs.
b) Discuss the different methods of wage payment.
Question 4: Distinguish between the given:
a) FIFO and LIFO.
b) Allocation and Apportionment.
c) Job costing and Contract costing.
d) Normal process loss and Abnormal process loss.
Question 5: Write short notes on the given with their accounting implications:
a) Cost centre.
b) Idle time.
c) Selling and distribution overheads.
d) Work-in-progress.