Cost & Management Accounting

Which of these is not a component of Prime Cost

• Direct Material

• Direct Labour

• Direct Expenses

• Factory Expenses

Sale of Raw Material Scrap should be subtracted after calculating Works Cost.

• True

• False

Basic objective of cost accounting is

• Cost Ascertainment

• Audit Purpose

• Tax Compliance

• None of the above

Chargeable expenses is another name for direct expenses

• True

• False

Tender is an estimation of units to be produced

• True

• False