Cost management question paper

  • How do you effectively manage costs?

    15 Ideas for Effective Cost Management

    1. Understand Your Costs
    2. Understand Your Revenue Structure
    3. Simplify Work Flows
    4. Offer Cost Management Training
    5. Get Your Employees Involved
    6. Choose Costs that Generate Profit
    7. Reduce Unprofitable Work
    8. Invest in the Right Technology

Answer any three questions from Question No. 2, 3, 4 and 5. Each Question Commercial Paper. (C) Sold at Discount. 4. Factoring. (D) Raise Short Term Finance 

How do I write a manufacturing cost & non-manufacturing cost?

MANUFACTURING COST, INDIRECT MANUFACTURING COST or NON- MANUFACTURING COST.
Choose the answer and write only 'Direct manufacturing cost', 'Indirect manufacturing cost' or 'Non-manufacturing cost' next to the question number (1.3.1–1.3.5) in the ANSWER BOOK. 1.3.1 Wages paid to workers moving scaffolding on the building site.

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What are the two methods of costing a product?

following two techniques viz., 1.
Absorption Costing 2.
Marginal Costing Absorption Costing Under this method, the cost of the product is determined after considering the total cost i.e., both fixed and variable costs.
Thus this technique is also called traditional or total costing.

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What is cost management in project management?

Cost Management is an integral part of Project Management because all progress and actual costs will be measured against the budget.
This process starts with planning and estimating costs to develop an approximation of the financial resources required to complete a Project.

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What is the difference between management accounting and cost accounting?

The scope of Management Accounting is broader than the scope of Cost Accountancy.
In Cost Accounting, primary emphasis is on cost and it deals with its collection, analysis, relevance interpretation and presentation for various problems of management.


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Cost management budgets is not supported for this account