CoolInterview.com - World's Largest Collection of Interview Questions & Answers, FAQs, queries, sample papers, exam papers, dumps, what, why, how, where, when questions
Our Services
Get 9,000 Interview Questions & Answers in an eBook.




Get it now !!
Send your Resume to 6000 Companies
Cost Accounting Interview Questions & Answers - Learning Mode
COOLINTERVIEW.COM ACCOUNTS INTERVIEW QUESTIONS COST ACCOUNTING INTERVIEW QUESTIONS QUESTIONS & ANSWERS - LEARNING MODE

Cost Accounting Interview Questions & Answers - Learning Mode

Cost accounting is a process of collecting, recording, classifying, analyzing, summarizing, allocating and evaluating various alternative courses of action & control of costs. Its goal is to advise the management on the most appropriate course of action based on the cost efficiency and capability. Cost accounting is a type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment.

Try Cost Accounting Interview Questions & Answers - Exam Mode
Subcategories for Cost Accounting Interview Questions & Answers - Learning Mode

Following are sub categories for which Interview Questions & Answers are available under Cost Accounting Interview Questions & Answers - Learning Mode. Please select the appropriate sub-category:-

Cost Sheet Interview Questions & Answers (15) Learning Mode | Exam Mode

Labor Cost Control Interview Questions & Answers (27) Learning Mode | Exam Mode

Material Cost Control Interview Questions & Answers (36) Learning Mode | Exam Mode

Overhead Cost Control Interview Questions & Answers (23) Learning Mode | Exam Mode

Reconciliation of Cost and Financial Accounts Interview Questions & Answers (13) Learning Mode | Exam Mode

1 2 3 Next

Sort By : Latest First | Oldest First | By Rating

Cost Accounting Interview Questions & Answers - Learning Mode
Try Cost Accounting Interview Questions & Answers - Exam Mode
Question: Explain cost sheet?

Answer: Cost sheet is a statement of cost for a product for given period of time. Source: CoolInterview.com
Question: What is difference between cost accounting and financial accounting?

Answer: One of the basic differences cost accounting is helpfully in controlling the cost of production whereas financial accounting is concerned is helpfully in determining financial position of a concern . Source: CoolInterview.com
Question: What is the difference between Expenses & Expenditure ?

Answer: The difference between expenses and expenditure. Expenese is the outflow from a profit oriented organization while expenditure is the outflow from non-profit organization. Source: CoolInterview.com
Question: how to make a table for to calculate the prime cost,factroy cost,total cost of production and cost of sales

Answer: direct material ********
direct labour *******
direct expenses *******
prime cost *******
+factory o.heads *******
factory cost *******
+office exp *******
office cost *******
+adm&selling exp *******
cost of production of goos sold ***
Source: CoolInterview.com
Question: Tell me the information about cost sheets.

Answer: cost sheet consists of the direct and indirect expenses incurred in producing a given product and classifying the expenses incurred according to office, administration, selling and distribution overheads..
Source: CoolInterview.com
Question: Tell us about your experience in cost accounting.



Answer: Refering any books or questions wont give any experience, here experiene, i think means, the level or the grade of CostA/C works done... Source: CoolInterview.com
Question: why is interest on loan not included in cost sheet ?

Answer: Hi Interest on loan will not be considered in cost sheet as it is financial expenditure form part of FI.it does not relate to production Source: CoolInterview.com
Question: Wat is BEP?

BEP-Break Event Point. It indicates no Loss and no Profit



Answer: The level of activity at which total revenues equal total costs Source: CoolInterview.com
Question: What is the marginal cost?

Answer: Marginal Cost (MC):
The marginal cost of an additional unit of output is the cost of the additional inputs needed to produce that output. More formally, the marginal cost is the derivative of total production costs with respect to the level of output.

Marginal cost and average cost can differ greatly. For example, suppose it costs $1000 to produce 100 units and $1020 to produce 101 units. The average cost per unit is $10, but the marginal cost of the 101st unit is $20

The EconMo Source: CoolInterview.com
Question: What is marginal cost?



Answer: Marginal cost is nothing but Variable cost. Source: CoolInterview.com
Question: What is marginal cost?

Answer: The marginal cost of an additional unit of output is the cost of the additional inputs needed to produce that output. More formally, the marginal cost is the derivative of total production costs with respect to the level of output.

Marginal cost and average cost can differ greatly. For example, suppose it costs $1000 to produce 100 units and $1020 to produce 101 units. The average cost per unit is $10, but the marginal cost of the 101st unit is $20

The Econ Model applications Perfe Source: CoolInterview.com
Question: "cost accounting has become an essential tool of management "- What is your opinion

Answer: "Cost Accounting" in simple meaning costing of the product for the market. But in modern market (which is full of big competitors) launching any new product in the market have to take necessary and minded steps which gives spread in the whole market and ofcourse also in the consumers eyes. Source: CoolInterview.com
Question: What are variable costs?

Answer: Variable cost or Marginal cost is the cost that is directly proportionate to the number of units being produced (unit being a Tangible item produced or an Intangible service that is provided). It increases proportionately if the number of units that are being produced/provided are increased and decreases proportionately when the number of units that are being produced/provided are decreased. Source: CoolInterview.com
Question: Describe some of the methods used to allocate support costs.

Answer: Headcount or number of pc's per cost centre. Source: CoolInterview.com
Question: What is chargeback?

Answer: A process in the industry where a wholesaler requests an amount that is the difference between the manufacturer's price to the wholesaler and the contract price to the resale customer.

The actual chargeback occurs when the wholesaler sells the manufacturer's product at contract price that is below wholesaler acquisition cost (WAC).

Especially evident in pharmaceutical industry.
In electronic commerce, a charge back is a reversal of a credit card transaction, which is usu Source: CoolInterview.com
Question: What is Cost Accounting?

Answer: This can be described as the process of accumulating, measuring, analyzing, interpreting and reporting cost information that is both useful and relevant to the internal and external stakeholders of a business entity. External stakeholders are those who have a vested financial interest in a business or company. For example banks (loans), financial houses (mortgages), investors (investments), etc. Internal stakeholders are the business or company directors, managers, division heads, etc.

On Source: CoolInterview.com
Question: What is CMMI?

Answer: Capability Maturity Model Integration (CMMI) is a process improvement approach that provides organizations with the essential elements of effective processes.
It can be used to guide process improvement across a project, a division, or an entire organization. CMMI helps integrate traditionally separate organizational functions, set process improvement goals and priorities, provide guidance for quality processes, and provide a point of reference for appraising current processes. Source: CoolInterview.com
Question: What is CMM?

Answer: CMM is an internationally recognized standard for measuring the maturity of an organization's software development processes and has become the primary benchmark multinational corporations use to judge IT service providers ' abilities to deliver high quality software. Bleum is now one of only a few companies in China to be assessed SEI CMM Level 5.

The Capability Maturity Model (CMM) was developed under the guidance of the Software Engineering Institute (SEI) of Carnegie Mellon Un Source: CoolInterview.com
Question: What are the freight charges ?

Answer: There are two types of freight charges one is Inward and the other one is Outward.
Inward is grouped under Direct expenses and it may be taken into landed cost. Outward is grouped under Indirect expense and it will be incurred after production.
Source: CoolInterview.com
Question: What is the difference between cost accounting and financial accounting?

Answer: One of the basic differences cost accounting is helpfully in controlling the cost of production whereas financial accounting is concerned is helpfully in determining financial position of a concern . Source: CoolInterview.com

1 2 3 Next



India News Network
Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
If entire specified goods is perished before entering into contract of sale, the contract is (a) Valid (b) Void (c) Voidable (d) Cancelled
______________ contracts are also caled contracts with executed consideration. (a) Unilateral (b) Completed (c) Bilateral (d) Executory
A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
An offer is made with an intention to have negotiation from other party. This type of offer is: (a) Invitation to offer (b) Valid offer (c) Voidable (d) None of the above
When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
An agreement toput a fire on a person's car is a ______: (a) Legal (b) Voidable (c) Valid (d) Illegal
Cache = 0.03125 Seconds