Test Questions: Standard Costing

Here are certain queries that can be placed by students.

  1. What do you understand by Standard Costing?
  2. What are the limits of Standard Costing?
  3. Show the benefits of Standard Costing?
  4. What is Budgetary Control?
  5. What is the difference between Budgetary Control and Standard Costing?
  6. What is the relation between Standard Costing and Budgetary Control?
  7. What is Historical Costing?
  8. What is meant by Historical Costing?
  9. 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.’’
  10. Does Standard Cost depict another cost system on the whole?
  11. 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.

Test Questions in Standard Costing 1Test Questions in Standard Costing 2

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