B Com Exam > B Com Videos > Cost Accounting > Cost Sheet Case Study - Overheads, Cost Accounting
Cost Sheet Case Study - Overheads, Cost Accounting Video Lecture | Cost Accounting - B Com
|
106 videos|173 docs|18 tests
|
FAQs on Cost Sheet Case Study - Overheads, Cost Accounting Video Lecture - Cost Accounting - B Com
| 1. What are overheads in cost accounting? |  |
Ans. Overheads in cost accounting refer to indirect costs that are not directly attributable to a specific product or service. These costs include expenses such as rent, utilities, depreciation, and administrative salaries. Overheads are allocated to products or services based on predetermined allocation methods to determine their total cost.
| 2. How are overheads calculated in cost accounting? | |
Ans. Overheads are calculated in cost accounting by using allocation methods such as direct labor hours, machine hours, or square footage. These methods determine the proportion of overhead costs that should be allocated to each product or service. For example, if the allocation method is direct labor hours and a product requires 10 hours of direct labor to produce, the overhead cost will be allocated based on the number of direct labor hours used.
| 3. Can overheads be reduced in cost accounting? | |
Ans. Yes, overheads can be reduced in cost accounting through various strategies. Some common methods include improving efficiency in the production process, renegotiating contracts with suppliers to obtain better pricing, implementing cost-saving measures for utilities, and optimizing the use of equipment to reduce maintenance and repair costs. By identifying and addressing areas of inefficiency, businesses can minimize overhead costs and improve their overall profitability.
| 4. Why is it important to track overhead costs in cost accounting? | |
Ans. Tracking overhead costs in cost accounting is important because it allows businesses to accurately determine the total cost of producing a product or delivering a service. This information is crucial for pricing decisions, profitability analysis, and evaluating the financial performance of different products or services. By understanding the allocation of overhead costs, businesses can make informed decisions to optimize their operations and ensure that their pricing strategies are competitive and profitable.
| 5. What is the difference between direct costs and overhead costs in cost accounting? | |
Ans. The difference between direct costs and overhead costs in cost accounting is that direct costs can be directly attributed to a specific product or service, while overhead costs are indirect and cannot be easily traced to a specific product or service. Direct costs typically include materials, labor, and other expenses directly related to the production or delivery of a product or service. On the other hand, overhead costs include expenses such as rent, utilities, and administrative salaries, which are necessary for the overall operation of the business but cannot be directly linked to a specific product or service.
Related Exams
About this Video
|
1K Views |
|
4.81/5 Rating |
|
Nov 15, 2024 Last updated |
Video Description: Cost Sheet Case Study - Overheads, Cost Accounting for B Com 2024 is part of Cost Accounting preparation.
The notes and questions for Cost Sheet Case Study - Overheads, Cost Accounting have been prepared according to the B Com exam syllabus.
Information about Cost Sheet Case Study - Overheads, Cost Accounting covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Cost Sheet Case Study - Overheads, Cost Accounting.
Introduction of Cost Sheet Case Study - Overheads, Cost Accounting in English is available as part of our Cost Accounting for B Com & Cost Sheet Case Study - Overheads, Cost Accounting in
Hindi for Cost Accounting course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Cost Sheet Case Study - Overheads, Cost Accounting Video Lecture | Cost Accounting - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Cost Accounting.
Information about Cost Sheet Case Study - Overheads, Cost Accounting
Here you can find the meaning of Cost Sheet Case Study - Overheads, Cost Accounting defined & explained in the simplest way possible.
Besides explaining types of Cost Sheet Case Study - Overheads, Cost Accounting theory, EduRev gives you an ample number of questions to practice Cost Sheet Case Study - Overheads, Cost Accounting tests,
examples and also practice B Com tests.
|
106 videos|173 docs|18 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Summary
,mock tests for examination
,ppt
,Cost Sheet Case Study - Overheads
,study material
,Previous Year Questions with Solutions
,practice quizzes
,Cost Accounting Video Lecture | Cost Accounting - B Com
,past year papers
,Extra Questions
,shortcuts and tricks
,Cost Accounting Video Lecture | Cost Accounting - B Com
,Viva Questions
,Cost Sheet Case Study - Overheads
,Free
,Sample Paper
,Semester Notes
,MCQs
,video lectures
,Exam
,Important questions
,Cost Accounting Video Lecture | Cost Accounting - B Com
,Cost Sheet Case Study - Overheads
,Objective type Questions
;
Study Cost Sheet Case Study - Overheads, Cost Accounting on the App
Students of B Com can study Cost Sheet Case Study - Overheads, Cost Accounting alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Cost Sheet Case Study - Overheads, Cost Accounting,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Cost Sheet Case Study - Overheads, Cost Accounting is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup