Cost Center – NBC Institute

MI – Nov 2023 – L1 – SA – Q2 – Cost Classifications

Identifying the document that includes detailed cost center and cost unit information.

Question

A document which includes the detailed cost centre and cost unit is known as:
A. Tender
B. Cost sheet
C. Work order
D. Bill of quantities
E. Goods requisition note

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Center, Cost Components, Cost Sheet, Cost Unit
Level: Level 1

Topic: Cost Classifications
Series: NOV 2023

MA – May 2017 – L2 – Q1c – Performance analysis, Other aspects of performance measurement

Explain cost center, revenue/profit center, and investment center in terms of their managerial objectives and performance measurement indexes.

Question

Explain in brief the following terminologies as used in performance evaluation, highlighting their managerial objectives and the performance measurement indexes:

i) Cost centre
ii) Revenue/profit centre
iii) Investment centre

(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Center, Investment Center, Managerial objectives, Performance Measurement, Profit Center, Revenue center
Level: Level 2

Topic: Other Aspects of Performance Measurement, Performance analysis
Series: MAY 2017

IMAC – MAR 2023 – L1 – Q3 – Marginal Costing and Absorption Costing | Scope of Management Accounting

Explain qualities of management accounting information, and differences between marginal and absorption costing.

Question

a) Management accounting systems obtain information from both internal and external sources. Cost accounting system is one major source of management accounting information, and such information is only useful to managers if it possesses certain qualities.

Required:
In reference to the statement above, explain FIVE (5) qualities of management accounting information.
(10 marks)

b) Explain the following briefly:
i) Cost center (2.5 marks)
ii) Profit center (2.5 marks)

c) Explain TWO (2) differences between a marginal costing system and an absorption costing system.
(5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Absorption Costing, Cost Center, Management Information, Marginal Costing, Profit Center
Level: Level 1

Topic: Marginal Costing and Absorption Costing, Scope of Management Accounting
Series: MAR 2023

MI – Nov 2023 – L1 – SA – Q2 – Cost Classifications

Identifying the document that includes detailed cost center and cost unit information.

Question

A document which includes the detailed cost centre and cost unit is known as:
A. Tender
B. Cost sheet
C. Work order
D. Bill of quantities
E. Goods requisition note

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Center, Cost Components, Cost Sheet, Cost Unit
Level: Level 1

Topic: Cost Classifications
Series: NOV 2023

MA – May 2017 – L2 – Q1c – Performance analysis, Other aspects of performance measurement

Explain cost center, revenue/profit center, and investment center in terms of their managerial objectives and performance measurement indexes.

Question

Explain in brief the following terminologies as used in performance evaluation, highlighting their managerial objectives and the performance measurement indexes:

i) Cost centre
ii) Revenue/profit centre
iii) Investment centre

(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Center, Investment Center, Managerial objectives, Performance Measurement, Profit Center, Revenue center
Level: Level 2

Topic: Other Aspects of Performance Measurement, Performance analysis
Series: MAY 2017

IMAC – MAR 2023 – L1 – Q3 – Marginal Costing and Absorption Costing | Scope of Management Accounting

Explain qualities of management accounting information, and differences between marginal and absorption costing.

Question

Required:
In reference to the statement above, explain FIVE (5) qualities of management accounting information.
(10 marks)

b) Explain the following briefly:
i) Cost center (2.5 marks)
ii) Profit center (2.5 marks)

c) Explain TWO (2) differences between a marginal costing system and an absorption costing system.
(5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Absorption Costing, Cost Center, Management Information, Marginal Costing, Profit Center
Level: Level 1

Topic: Marginal Costing and Absorption Costing, Scope of Management Accounting
Series: MAR 2023

Question Tag: Cost Center

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

MI – Nov 2023 – L1 – SA – Q2 – Cost Classifications

Identifying the document that includes detailed cost center and cost unit information.

MA – May 2017 – L2 – Q1c – Performance analysis, Other aspects of performance measurement

Explain cost center, revenue/profit center, and investment center in terms of their managerial objectives and performance measurement indexes.

IMAC – MAR 2023 – L1 – Q3 – Marginal Costing and Absorption Costing | Scope of Management Accounting

Explain qualities of management accounting information, and differences between marginal and absorption costing.

MI – Nov 2023 – L1 – SA – Q2 – Cost Classifications

Identifying the document that includes detailed cost center and cost unit information.

MA – May 2017 – L2 – Q1c – Performance analysis, Other aspects of performance measurement

Explain cost center, revenue/profit center, and investment center in terms of their managerial objectives and performance measurement indexes.

IMAC – MAR 2023 – L1 – Q3 – Marginal Costing and Absorption Costing | Scope of Management Accounting

Explain qualities of management accounting information, and differences between marginal and absorption costing.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Cost Center

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

MI – Nov 2023 – L1 – SA – Q2 – Cost Classifications

Identifying the document that includes detailed cost center and cost unit information.

You're reporting an error for "MI – Nov 2023 – L1 – SA – Q2 – Cost Classifications"

MA – May 2017 – L2 – Q1c – Performance analysis, Other aspects of performance measurement

Explain cost center, revenue/profit center, and investment center in terms of their managerial objectives and performance measurement indexes.

You're reporting an error for "MA – May 2017 – L2 – Q1c – Performance analysis, Other aspects of performance measurement"

IMAC – MAR 2023 – L1 – Q3 – Marginal Costing and Absorption Costing | Scope of Management Accounting

Explain qualities of management accounting information, and differences between marginal and absorption costing.

You're reporting an error for "IMAC – MAR 2023 – L1 – Q3 – Marginal Costing and Absorption Costing | Scope of Management Accounting"

MI – Nov 2023 – L1 – SA – Q2 – Cost Classifications

Identifying the document that includes detailed cost center and cost unit information.

You're reporting an error for "MI – Nov 2023 – L1 – SA – Q2 – Cost Classifications"

MA – May 2017 – L2 – Q1c – Performance analysis, Other aspects of performance measurement

Explain cost center, revenue/profit center, and investment center in terms of their managerial objectives and performance measurement indexes.

You're reporting an error for "MA – May 2017 – L2 – Q1c – Performance analysis, Other aspects of performance measurement"

IMAC – MAR 2023 – L1 – Q3 – Marginal Costing and Absorption Costing | Scope of Management Accounting

Explain qualities of management accounting information, and differences between marginal and absorption costing.

You're reporting an error for "IMAC – MAR 2023 – L1 – Q3 – Marginal Costing and Absorption Costing | Scope of Management Accounting"

Our offerings

Contact Info

Customer

Get In Touch

admin