List of top Cost Accounting Questions asked in CBSE CLASS XII

From the following information, prepare a Reconciliation Statement:

From the following cost information, prepare a cost sheet presenting the total cost and cost per unit of electricity generated.

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.
Draw the cost sheet proforma.
Distinguish between job costing and contract costing.
A pharmaceutical company has an annual demand for 18,000 units of its medicine. For the production of units, company has to bear setting up cost and order processing cost of ₹ 220. Cost of manufacturing one unit is ₹ 1,250. Cost of carrying is 10% per annum. Calculate the economic batch quantity.
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.
List the steps involved in the preparation of Reconciliation Statement.
Show the treatment of Work-in-Progress in the cost sheet from the given information:

Prime Cost          ₹ 20,00,000
Factory Overheads         ₹ 8,00,000
Opening WIP          ₹ 2,00,000
Closing WIP          ₹ 1,40,000
What is lot costing?
Explain why progress advice is prepared.
What is abnormal effectives?
Name two types of costs involved in producing steam under power house costing.
.............. is a subsidiary ledger maintained in cost accounting.
State two methods of stock valuation used in cost accounting.
What is Memorandum Reconciliation Account?
Payment of donation is .............. .
State whether the statement is True or False:
‘Transfer to general reserve is an item of cost account.’
Which of the following is not the service unit in case of transporter carrying goods?
Operating costing is a .............. of costing.
What is Composite Unit?
Name any one service unit used in canteen services under canteen costing.
State whether the statement is True or False:
‘Operating costing is concerned with the ascertainment of operating cost for manufactured tangible product.’
Abnormal loss is equal to .............. .
12,000 kg of material was put into a process in a period. The normal loss is 10% of input. No opening or closing Work-in-Progress (WIP) is there. Output in the period is 10,920 kg. The abnormal loss/gain is: