Attempt any five of the following questions:
(a) Define cost accounting
(b) What is the difference between traditional costing and activity based costing?
(c) List out the steps involved in labour cost control. . .
(d) What do you mean by over absorption of overheads?
(e) Briefly explain the method of calculating profit on cost price and selling price
(f) How work in progress is shown in contract account and balance sheet?
(g) Give five expenditures items which are not shown in cost accounts.
(h) Differentiate between joint products and By-products with examples.