Daily Answer Writing Practice for Commerce Optional UPSC (Mains)- Day 52

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Topic :- Nature & Functions of Cost Accounting

 

#Q.1) How would you classify the different items of cost for the purposes of disclosing these items in a Cost sheet? Explain .-20 marks

 

#Q.2) From the following information calculate the Economic Order Quantity:

(a) Annual usage – 20,000 units

(b) Cost of Materials (per unit) – Rs. 250

(c) Cost of placing and receiving order – Rs. 2,000

(d) Annual cost of carrying inventory (including interest) – 10% of cost.

 

#Q.3) The accounts of Basudev Manufactures Ltd. for the year ended 31st December 1988 show the following:

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Calculate :

(a) Material Consumed

(b) Prime Cost

(c) Works Cost

(d) Cost of Production

(e) Total Cost and

(f) Sales.- 20 Marks

 


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