please answer any 5

for 6 marks

Answer any 5 questions. Each question carries 6 marks. (6x5=30 marks) 11. Explain the advantages of installing time recording clocks. 12. Explain Costing, Cost Accounting and Cost Accountancy 13. Short note on contract costing 14. Note on Ordering Cost 15. Give formulas for the contracts almost completed 16. Explain tools and techniques of Cost Reduction 17. Short note on LIFO 18. Find the EOQ from the following: Annual usage : 120000 units Cost of placing and receiving one order : Rs. 60 Annual cost of one units: 10% of inventory value