1. Define job costing.
2. What are the important features of job order costing?
3. What are the advantages and disadvantages of job costing?
4. Explain briefly the objectives of job order costing.
5. Describe the procedure for ascertaining job order cost.
6. What do you mean by budget?
7. What are the essentials of a budget?
8. What are the differences between budgets and forecast?
9. What do you understand by budgetary control? Explain briefly the characteristic of a good budget.
10. What are the objectives of budgetary control?
11. What do you understand by cash budget? Discuss the procedure for preparing the cost budget.
12. What do you understand by master budget?
13. What do you understand by fixed budget and flexible budget? What are the advantages of flexible budget?
14. What are the differences between fixed budget and flexible budget?
15. Describe the different methods of preparing flexible budget.
16. What do you understand by marginal costing?
17. Define Marginal Costing. Briefly explain the features of marginal costing?
18. What are the differences between absorption costing and marginal costing?
19. What is meant by differential costing?
20. Compare and contrast marginal costing and differential costing.
21. Define standard costing.
22. What do you understand by standard cost and standard costing?
23. What are the differences between standard costing and estimated costing?
24. Briefly explain and compare and contrast between standard costing and budgetary control.
25. What are the advantages of standard costing.