Questions from Cost Accounting

Q: (a). Describe briefly three major differences between: (

(a). Describe briefly three major differences between: (i). financial accounting, and (ii). cost and management accounting. (b). Below are incomplete cost accounts for a period: Stores ledger control...

Q: Solo Limited makes and sells a single product. The following data

Solo Limited makes and sells a single product. The following data relate to periods 1 to 4: (£) Variable cost per unit ………&aci...

Q: A company manufactures a single product with the following variable costs per

A company manufactures a single product with the following variable costs per unit: Direct materials …………â€&...

Q: Synchro dot Ltd manufactures two standard products, product 1 selling at

Synchro dot Ltd manufactures two standard products, product 1 selling at £15 and product 2 selling at £18. A standard absorption costing system is in operation and summarized...

Q: South Africa is one of the top gold producers in the world

South Africa is one of the top gold producers in the world, holding about 6000 metric tons of reserves in mines as of 2015. Most mining operations have waste and by-products, some of which are disposa...

Q: The accountant of Minerva Ltd, a small company manufacturing only one

The accountant of Minerva Ltd, a small company manufacturing only one product, wishes to decide how to present the company’s monthly management accounts. To date, only actual informa...

Q: A chemical company has a contract to supply annually 3600 tonnes of

A chemical company has a contract to supply annually 3600 tonnes of product A at £24 a tonne and 4000 tonnes of product B at £14.50 a tonne. The basic components for these pr...

Q: A chemical company produces among its product range two industrial cleaning fluids

A chemical company produces among its product range two industrial cleaning fluids, A and B. These products are manufactured jointly. Total sales are expected to be restricted because home trade outle...

Q: A company has two products with the following unit costs for a

A company has two products with the following unit costs for a period: Production and sales of the two products for the period were: Production was at normal levels. Unit costs in opening stock we...

Q: A local government authority owns and operates a leisure centre with numerous

A local government authority owns and operates a leisure centre with numerous sporting facilities, residential accommodation, a cafeteria and a sports shop. The summer season lasts for 20 weeks includ...