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ii. why the standard cost is usually considered as predetermined and opportunity cost is not recorded in the books of accounts? iii. Controllable and Uncontrollable cost are cost concepts always associated with the designation level of management. Explain the statement? iv. According to you which one is less advantageous for a corporation from the below mentioned goods and Why: 1 . Scrape Material Defective Goods V. Usually Scrape material entry is made on market value, what about the journal entry for: Transfer scrape to inventory Sold scrape to inventory market value. vi. How it is identified in manufacturing that the loss occur is abnormal or normal loss? vii. The time study(motion Time Tables) is based on the keen learning of experts for an operation by using a stop watch, why there is a need to do this separately for different industry under different environments? viii. Differentiate between the straight piece rate and piece rate with 100 percent Premium. ix. Sometime the Taylor's and Marrick's piece rate system in labor costing is discouraged, what is drawback of this system? X. Every organization adopt different type of system for inventory costing, organization adopt two basic costing system. Suppose there are two organization one is cooking oil corporation and other is printing press. Keeping in mind the concepts of costing system answer the following questions: Although the cost is find by adding DM,DL and FOH ,how the product cost determination will be different under these two corporation. Identify the type of costing system for both firms separately Calculation of unit cost. ii. why the standard cost is usually considered as predetermined and opportunity cost is not recorded in the books of accounts? iii. Controllable and Uncontrollable cost are cost concepts always associated with the designation level of management. Explain the statement? iv. According to you which one is less advantageous for a corporation from the below mentioned goods and Why: 1 . Scrape Material Defective Goods V. Usually Scrape material entry is made on market value, what about the journal entry for: Transfer scrape to inventory Sold scrape to inventory market value. vi. How it is identified in manufacturing that the loss occur is abnormal or normal loss? vii. The time study(motion Time Tables) is based on the keen learning of experts for an operation by using a stop watch, why there is a need to do this separately for different industry under different environments? viii. Differentiate between the straight piece rate and piece rate with 100 percent Premium. ix. Sometime the Taylor's and Marrick's piece rate system in labor costing is discouraged, what is drawback of this system? X. Every organization adopt different type of system for inventory costing, organization adopt two basic costing system. Suppose there are two organization one is cooking oil corporation and other is printing press. Keeping in mind the concepts of costing system answer the following questions: Although the cost is find by adding DM,DL and FOH ,how the product cost determination will be different under these two corporation. Identify the type of costing system for both firms separately Calculation of unit cost