Costing II

1. Joint products & By products

1.Define joint product? Also mention its features.
2.Example of joint products according to industry.
3.What are Co products? Mention its features.

4.Briefly discuss the methods which are applicable to distribute Joint cost among
joint products.
5.What is by-product? Distinguish between joint products and by-products.

2. Activity based Costing system

1.Discuss problems of traditional or conventional costing.
2.Write short notes on following topics-
Activity, Cost Object, Cost driver
3.Suitable example of cost driver according to activities or functional areas.

4.What is activity based costing? Briefly discuss its Steps.

Also mention advantages of such costing system.
5.Distinguish between traditional costing and activity based costing.
6.Briefly discuss Installation of activity based costing system in a concern.

3. Budget & Budgetary Control

1.Define budget. Also define budgetary control.
2.Objectives of budgetary control.
3.Discuss advantages and limitations of budgetary control.
4.Briefly discuss Various functional budgets.

5.Discuss advantages of preparation of cash budget.

6.Discuss utility of flexible budget. Distinguish between fixed budget and flexible
budget.
7.write short note on – master budget , zero base budget.
4. Standard costing
1.Advantages and disadvantages of standard costing?

2.Difference between budgetary control system and standard costing system?

5. Marginal Costing
1.What is marginal costing? Discuss its advantages and disadvantages.
2.Distinguish between marginal costing system and absorption costing system.

3.Write short notes on following topics –

a) contribution b) profit-volume ratio (p/v ratio), c) break even point, d) marginal of
safety, e) angle of Incidence.
4. Briefly discuss advantages of cost-volume profit (cvp) analysis.