State whether the following statement is True or False:
‘Cost sheet tells about quality and labour efficiency of the production.’
‘Cost sheet tells about quality and labour efficiency of the production.’
Show Hint
Solution and Explanation
It provides detailed information about material cost, labour cost, overheads, and total cost per unit.
However, it does not measure or describe the quality of the product or the labour efficiency directly.
Such performance indicators are covered by other production and quality control reports, not by the cost sheet.
Hence, the given statement is False.
Top Questions on Estimation and Costing
From the following information, prepare a Reconciliation Statement:
- CBSE CLASS XII - 2025
- Cost Accounting
- Estimation and Costing
From the following cost information, prepare a cost sheet presenting the total cost and cost per unit of electricity generated.
- CBSE CLASS XII - 2025
- Cost Accounting
- Estimation and Costing
- Job No. 1001 was in process at the end of the accounting period. The total cost involved in the job is ₹ 15,000 of which ₹ 5,000 is direct material. Factory overhead is allocated to goods in process at 150% of direct labour cost. The amount of direct labour charged to Job No. 1001 will be:
- CBSE CLASS XII - 2025
- Cost Accounting
- Estimation and Costing
- Draw the cost sheet proforma.
- CBSE CLASS XII - 2025
- Cost Accounting
- Estimation and 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.
- CBSE CLASS XII - 2025
- Cost Accounting
- Estimation and Costing
Questions Asked in CBSE CLASS XII exam
- Nandita and Prabha were partners in a firm. Nandita withdrew ₹ 3,00,000 during the year for personal use. The partnership deed provides for charging interest on drawings @ 10% p.a. Interest on Nandita’s drawings for the year ended 31st March, 2024 will be:
- CBSE CLASS XII - 2025
- Profit sharing ratio
Aakash and Baadal entered into partnership on 1st October 2023 with capitals of Rs 80,00,000 and Rs 60,00,000 respectively. They decided to share profits and losses equally. Partners were entitled to interest on capital @ 10 per annum as per the provisions of the partnership deed. Baadal is given a guarantee that his share of profit, after charging interest on capital, will not be less than Rs 7,00,000 per annum. Any deficiency arising on that account shall be met by Aakash. The profit of the firm for the year ended 31st March 2024 amounted to Rs 13,00,000.
Prepare Profit and Loss Appropriation Account for the year ended 31st March 2024.- CBSE CLASS XII - 2025
- Partnership
- Two dice are thrown. Defined are the following two events A and B: \[ A = \{(x, y) : x + y = 9\}, \quad B = \{(x, y) : x \neq 3\}, \] where \( (x, y) \) denote a point in the sample space. Check if events \( A \) and \( B \) are independent or mutually exclusive.
- CBSE CLASS XII - 2025
- Probability
- Draw circuit arrangement for studying V-I characteristics of a p-n junction diode.
(b) Show the shape of the characteristics of a diode.
(c) Mention two information that you can get from these characteristics.- CBSE CLASS XII - 2025
- Semiconductor electronics: materials, devices and simple circuits
- Find the shortest distance between the lines: \[ \mathbf{r}_1 = (2\hat{i} - \hat{j} + 3\hat{k}) + \lambda (\hat{i} - 2\hat{j} + 3\hat{k}) \] \[ \mathbf{r}_2 = (\hat{i} + 4\hat{k}) + \mu (3\hat{i} - 6\hat{j} + 9\hat{k}) \]
- CBSE CLASS XII - 2025
- Vector Algebra