Test Questions: Standard Costing
Here are certain queries that can be placed by students.
- What do you understand by Standard Costing?
- What are the limits of Standard Costing?
- Show the benefits of Standard Costing?
- What is Budgetary Control?
- What is the difference between Budgetary Control and Standard Costing?
- What is the relation between Standard Costing and Budgetary Control?
- What is Historical Costing?
- What is meant by Historical Costing?
- What do you understand by the statement, ‘’ whereas cost standards show those costs that are found under desirable operating conditions, budget costs shows the limits under operating system.’’
- Does Standard Cost depict another cost system on the whole?
- What is the level of Cost Standard?
It is based on these queries that further mathematical problems can be solved. A clear understanding of these concepts re required.
Links of Previous Main Topic:-
- Introduction to accounting and branches of accounting
- Preparation of final accounts
- Introduction of fund flow statement
- Introduction cash flow statement
- Ratio analysis significance of ratio analysis
- Fixed assets and depreciation meaning causes objectives methods and basic factor
- Cost accounting concept objectives advantages limitations general principles and cost sheet
- Job costing
- Introduction process costing
- Activity based costing introduction concept and classification
- Introduction inventory pricing and valuation
- Standard costing introduction
- Standard cost vs budgetary control
- Determination of standard costing
- Variance analysis
Links of Next Finance Topics:-
- Duality in linear programming
- Learning objectives
- Learning objectives and chapter outline in assignment model
- Minimization problems
- Learning objectives the transportation problems
- Special case of traveling sales man problem
- Replacement theory learning objectives and chapter outline
- Learning objectives and chapter outline for waiting line queuing theory