DBB2115 COST AND MANAGEMENT ACCOUNTING

Description

SESSION	JUL – AUG 2026
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	3
COURSE CODE & NAME	DBB2115 COST AND MANAGEMENT ACCOUNTING

 

 

Assignment Set 1

 

Q.1. Explain the objectives and significance of Cost Accounting. How does it differ from Financial Accounting? (7+3 = 10 Marks)

Ans 1.

Cost Accounting is a method of accounting for the costs of manufacturing products or delivering services. It assists managers in identifying resource utilization and determining if expenditures are warranted. It can be used to identify product, department and activity cost and aids in controlling operations and quality of business decisions.

Determining Cost

One of the simplest goals is to calculate

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Q.2. Explain the concept of Unit Costing. Discuss its components. (3+7 = 10 Marks)

Ans 2.

Unit costing is the process of finding out the cost of one unit, when the quantity produced is made up of identical or similar units. It can be used for cement, bricks, etc. that are part of common standardised output. Costs are accumulated over a period and associated with production and not separately allocated for each customer job.

The basic formula is:

Cost per unit = Total relevant

 

Q.3. Explain the procedure of Job Costing. How does a Job Cost Sheet help management in decision-making? (7+3 = 10 Marks)

Ans 3.

Job Costing is the process used to calculate the cost of a job, order or contract that has been done based on customer requirements. It is ideal for printing, repair, custom furniture and the like. Because jobs vary, costs are aggregated for each job, and not averaged across all production over a period.

Identifying and Authorising the Job

It starts with the assessment of the

 

 

Assignment Set 2

 

Q.4. Distinguish between Cost Accounting and Management Accounting. Explain the role of Management Accounting in managerial decision-making. (5+5 = 10 Marks)

Ans 4.

Both cost accounting and management accounting are for internal decision making, only the span of what is covered is different. In cost accounting, the focus is on measuring and controlling costs. Management accounting applies cost data, as well as other financial and nonfinancial data, to assist management in planning, assessing alternatives, and guiding the business.

Difference in

 

 

Q.5. Explain Standard Costing. Distinguish between Standard Cost and Estimated Cost. (3+7 = 10 Marks)

Ans 5.

Before production starts, businesses require cost benchmarks to evaluate actual performance. Standard costing provides such standards and looks into deviations from the standards. Also there are estimated costs, but these are (not) for another purpose. It is possible to get these two mixed up, which can weaken planning and performance evaluation.

Meaning of

 

 

Q.6. Discuss the concept of Cost–Volume–Profit (CVP) Analysis and examine its role in managerial decision-making. (10 Marks)

Ans 6.

Cost Volume Profit analysis is a study of the relationship between the selling price, volume of sales, variable cost and fixed cost. It enables management to determine the amount of activity they should have in order to meet costs and achieve a desired profit. The analysis is especially valuable for short term planning for a specified operating range.

Contribution and Profit

Contribution is the