Assignments: last date 17th may

Materials:
1. Costing methods
2. Purpose of EOQ
3. Cost should be considered while deriving EOQ
4. Practice questions
Labor:
1. Define productivity?
2. Purpose of incentive wage plan?
3. Practice questions
Factory over heads:
1. Difference between production departments
2. Factory overhead and overhead rate
3. CGS at actual and normal
4. Practice questions
Marginal costing:
1. Difference between direct costing and absorption costing
2. Weakness using of break-even analysis
3. Importance of CVP analysis
4. Practice questions
Budgeting:
1. Difference between budget and forecast
2. What is budget and how it is related to control function
3. Define sales budget, Production budget, Labor budget, Material budget, FOH budget
4. Practice questions
Standard Costing (variance analysis)
1. What is standard cost and its uses?
2. What is material, labor and FOH variance and why it is calculated?
3. Practice questions
Relevant Costing
1. What is relevant costing?
2. Differentiate between relevant and unavoidable cost
3. What is sunk cost, opportunity cost?
4. Explain how a fixed cost can be relevant to decision making.
5. Practice questions.