List of top Cost Accounting Questions on Cost Accounting

1,000 units of raw material were introduced in a process at a cost of ₹ 4,000. The normal wastage allowed is 10%, each unit of waste realises ₹ 2.50. The actual production was 850 units (with abnormal wastage of 50 units). The expenses being as follows:
Direct wages {2cm} ₹ 6,500
Indirect expenses {1.6cm} ₹ 3,250
Prepare the process account to show the effect of wastage.
Given the notional profit as ₹ 79,000, cash received ₹ 3,30,000, work certified ₹ 4,00,000, contract price ₹ 6,00,000. Calculate the profit that can be credited to the Profit and Loss Account. Also, explain what is notional profit in case of contract costing.
The sequence of operations is .............. and .............. .
State whether the statement is True or False:
‘In the balance sheet, the contractor account is shown on the liabilities side.’
Name the inventory control principle used to calculate economic batch quantity.
.............. sign defines a formula.
State the basic steps to insert a square shape in a presentation.