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Costing Interview Questions

October 6, 2023
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Costing Interview Questions

costing-interview-questions

  1. Define the term Costing ?

  2. What is meant by Cost Accounting ?

  3. How do you define the term Cost Accountancy ?

  4. State the three most important need for Cost Accounting ?

  5. What is the role of Cost Accounting in Price Determination ?

  6. What are the advantages of Cost Accounting?

  7. State the dis-advantages of Cost Accounting ?

  8. What are the principles Costing System ?

  9. Discuss the factors of Cost Accounting ?

  10. Define Cost Centre ?

  11. Describe the utilities of Cost Centre ?

  12. What the various types of Cost Centre ?

  13. Explain Cost Unit with an Example ?

  14. What is the concept of Cost Accounting ?

  15. Discuss the objectives of Cost Accounting ?

  16. Define the term Cost Sheet ?

  17. What are the advantages of Cost Sheet ?

  18. What is the meaning of Material Control in Cost Accounting ?

  19. State two important types of Labour Cost ?

  20. What do you mean by Batch Costing

  21. Explain the accounting procedure for Batch Costing

  22. Define Economic Order Quantity (EOQ) ?

  23. What is the meaning of the term Contract Costing ?

  24. Discuss the difference between Costing and Contract Costing ?

  25. Define the term Job Costing ?

  26. Discuss the features of Job Costing ?

  27. State the applicability of Job Costing ?

  28. What are the prerequisites for Job Costing ?

  29. Discuss the advantages of Job Costing ?

  30. Explain the disadvantages of Job Costing ?

  31. What is the main objective of Job Costing Procedure?

  32. Define the term Process Costing ?

  33. State the applicability of Process Costing ?

  34. What are the various features of Process Costing ?

  35. Discuss the advantages of Process Costing ?

  36. What is the definition of the term Operating Costing ?

  37. Explain the various applicability of Operating Costing ?

  38. For preparing a cost sheet the costs are classified into the following three broad heads: Discuss ?

  39. Define the term Marginal Costing ?

  40. What are the various features of Marginal Costing ?

  41. Discuss the advantages of Marginal Costing ?

  42. State the dis-advantages of Marginal Costing ?

  43. What are the important decision making areas of marginal costing?

  44. Explain the difference between Marginal Costing and Absorption Costing ?

  45. How do you define the term Standard costing ?