Questions for term paper preparation purpose

Q 1: Nature of the products of the company.

Formatted: Indent: Left: 0.5", First line: 0.5"

Q 2: Are they characteristically different?

Q 3: Which type of costing method is used?

Q 4: If Job costing is used, how the cost is accumulated? By products or batch of products?

Q 5: Do you take orders?

Q 6: What type of production technique is used?

Q 7: Do you use Just In Time (JIT)?

Q 8: Do you acquire material from outside or produce it?

Q 9: How do you maintain accounts for material (if you keep)?

Q 10: Related to material how many departments do you have (Purchase, storing, production)?

Q 11: Do you need to use material control tools (ABC, EOQ or others)?

Q 12: How do you pay your workers?

Q 13: Is labor cost a significant part of your production cost or do you produce your products using human labors or computerized program?

Q 14: How do you maintain labor cost (HRM or separate, Timecard/Jobcard)?

Q 15: What percent of cost is covered by factory overhead?

Q 16: Do you follow variable/absorption costing when allocating overhead cost or any other methods (if any)?

Q 17: What type of costs are recorded as factory overhead?

Q 18: Do you use Zero Defect Program?

Q 19: How do you maintain inventory records (LIFO, FIFO, WAC or others)?

Q 20: If you follow process costing method, what processes are needed?

Q 21: How many processing departments are there?

Q 22: How do you treat loss/spoilage/wastage/scrap/rework?

Q 23: Do you prepare any process account in the ledger?

Q 24: How do you record cost system (Normal/historical /standard or applied)?

Q 25: If you use standard costing, for what types of costs you prepare budget? What are the types of budgets that are prepared?

Q 26: Based on which rate or which cost, you estimate the overhead cost?

Q 27: To control variances what steps do you take?

Q 28: To estimate cost, do you apply any method like High-low/Account analysis/ Scatter graph/Regression/Others?

Q 29: Departments

Cost object

Cost Accumulation

Cost Allocation

Q 30: How do you deal with the service department? Do they give service to production department? If yes, how do you apportion the cost?