List of top Cost Accounting Questions on Estimation and Costing

From the following information, prepare a Reconciliation Statement:

From the following cost information, prepare a cost sheet presenting the total cost and cost per unit of electricity generated.

Draw the cost sheet proforma.
Distinguish between job costing and contract costing.
A pharmaceutical company has an annual demand for 18,000 units of its medicine. For the production of units, company has to bear setting up cost and order processing cost of ₹ 220. Cost of manufacturing one unit is ₹ 1,250. Cost of carrying is 10% per annum. Calculate the economic batch quantity.
List the steps involved in the preparation of Reconciliation Statement.
Show the treatment of Work-in-Progress in the cost sheet from the given information:

Prime Cost          ₹ 20,00,000
Factory Overheads         ₹ 8,00,000
Opening WIP          ₹ 2,00,000
Closing WIP          ₹ 1,40,000
What is lot costing?
Explain why progress advice is prepared.
What is abnormal effectives?
Name two types of costs involved in producing steam under power house costing.
.............. is a subsidiary ledger maintained in cost accounting.
State two methods of stock valuation used in cost accounting.
What is Memorandum Reconciliation Account?
Payment of donation is .............. .
State whether the statement is True or False:
‘Transfer to general reserve is an item of cost account.’
Which of the following is not the service unit in case of transporter carrying goods?
Operating costing is a .............. of costing.
What is Composite Unit?
Name any one service unit used in canteen services under canteen costing.
State whether the statement is True or False:
‘Operating costing is concerned with the ascertainment of operating cost for manufactured tangible product.’
Abnormal loss is equal to .............. .
12,000 kg of material was put into a process in a period. The normal loss is 10% of input. No opening or closing Work-in-Progress (WIP) is there. Output in the period is 10,920 kg. The abnormal loss/gain is:
Distinguish between process costing and job costing on the basis of cost computation.
The other term for Reverse Cost Method is: