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Analyzing and making Decisions in Relation to Cost Requires in-Depth Study

University:  NMIMS

NMIMS Global AccessSchool for Continuing Education (NGA-SCE)

Course: Cost and Management Accounting

Internal Assignment Applicable for April 2020 Examination

 

1. Analyzing and making decisions in relation to cost requires in-depth study of various costs involved. The process of managerial decision making classify costs into certain specific head so as to be precise in evaluating various business proposals. Discuss any five such costs with relevant examples which are significant for managerial decision making (10 Marks)

2. Standard costing is the process where standard costs of various components and resources are predetermined. Further, there are certain specific objectives for adopting the standard costing techniques in management accounting, Discuss in brief, the distinguished objectives of adopting standard costing in any organization (10 Marks)

3. Puppies and Rabbits, a soft toy manufacturing company requires 1250 units per month, of the soft toy named “COCO Rabbit”. The ordering cost is Rs 1000 per order. The cost of carrying inventory is 10% per annum. The cost of manufacturing one unit of COCO Rabbit is Rs 200

a. Determine the most economic lot size (5 Marks)

b. The minimum total variable cost for the economic lot size (5 Marks)

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Subject: 
Cost and Management Accounting