Question: What do you mean by controllable costs? Give an example. What is a purchase requisition? To whom it is submitted? What are the objectives of

 What do you mean by controllable costs? Give an example.

  1. What is a purchase requisition? To whom it is submitted?
  2. What are the objectives of Cost Accounting?
  3. Name any four techniques of inventory control.
  4. Define the term material control.
  5. What are variable overheads? Give two examples.
  6. Name the methods of labor turnover.
  7. Define Overheads.
  8. Briefly state the differences between Cost Accounting and Financial Accounting.

  1. (8 points each)

 

  1. Allocate the cost based on ABC. Choose the most appropriate cost activity for each cost pool.

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