1.A property-casualty insurer brings in $6.17 million in premiums on its homeowners MP line of insurance. The line's losses amount to $4,238,790, expenses are $1,523,990, and dividends are $104,890. The insurer earns $166,590 in the investment of its premiums.

Calculate the line's expense ratio. (Do not round intermediate calculations. Round your answers to 1 decimal place.)

2.What is meant by Cost Accounting ?

3.What is the role of Cost Accounting in Price Determination ?

4.What are the principles of costing system

5.Define the term Cost Sheet ?

6.What do you mean by Batch Costing ?

7.What are the prerequisites for Job Costing ?

8.Define the term Process Costing ?

9.State the dis-advantages of Marginal Costing ?

10.Explain the accounting procedure for Batch Costing ?