Cost Accounting and Performance management

1.1

Explain the relationship of cost accounting to financial and managerial accounting

1.2

Compare and contrast various Cost classification methods

1.3

Estimate inventory values using different methods

1.4

Differentiate between cost, profit, investment and revenue centres.

1.5

Separate the fixed and variable elements of total costs using a suitable method in a given situation

3.1

Explain and illustrate the difference between standard cost card under marginal and absorption costing

3.2

Compute and interpret price and usage variances for material, labour, and overhead inputs

3.3

Reconcile budgeted profit with actual profit under standard absorption costing.