Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION ONE: a) Explain the following in relation to Cost Accounting, giving two examples each: i. Costing Principles ii. Costing Methods iii. Costing Techniques (6

image text in transcribed
QUESTION ONE: a) Explain the following in relation to Cost Accounting, giving two examples each: i. Costing Principles ii. Costing Methods iii. Costing Techniques (6 marks) b) Differentiate between the following in relation to Cost Accounting: i. Expense and Unexpired Cost ii. Sunk Cost and Relevant Cost iii. Controllable Cost and Uncontrollable Cost iv. Revenue Centre and Profit Centre v. Cost Unit and Unit Cost (10marks) c) Explain the following terminologies in the context of Cost Accounting: i. Fixed Cost ii. Semi-variable Cost iii. Stepped Cost iv. Curvilinear Variable Cost (4 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

EDI Security Control And Audit

Authors: Albert J. Marcella Jr, Sally Chan, John Merriam

1st Edition

0890066108, 978-0890066102

More Books

Students also viewed these Accounting questions

Question

3. How has e-commerce transformed marketing?

Answered: 1 week ago