Time: 3 Hours; Marks: 60

1. Single or Output Costing

  • Components of Cost for Output Costing.
  • Cost Sheet.
  • Production Account.
  • Treatment of Stock and Scrap.

2. Job and Batch Costing

  • Job Costing.
  • Objectives.
  • ┬áProcedure.
  • Batch Costing.
  • Nature and Use of Batch Costing.
  • Determination of Economic Batch Quantity.

3. Contract Costing

  • Specific aspects of Contract Costing.
  • Profit on Incomplete Contracts.
  • Profit on Completed Contracts.

4. Process Costing

  • General Principles.
  • Process Losses and Wastage.
  • By-Products and Joint-Products.

5. Operating or Service Costing

  • Meaning of Operating Costing.
  • Determination of Unit of Cost.
  • Transport Costing.
  • Power House Costing.
  • Canteen Costing.

6. Reconciliation of Cost and Financial Accounts

  • Causes of Difference.
  • Preparation of Reconciliation Statement or
  • Memorandum Reconciliation Account.