Cost Accounting (Assignment – 1)
Quaid-i-Azam School of Management Sciences, Quaid-i-Azam University, Islamabad Fall Semester 2012
Course: Course Instructor: Class: Cost Accounting Wasim Abbas Shaheen BBA – III (A)

Assignment No 1: Instructions for Assignment: This is an individual assignment. The assignment should be hand written. All the students are advised to submit their assignments on maximum 14th of October, 2012 (Monday). There will be no late submission of the assignments. The assignments will be collected in the class at start and after that no assignment will be accepted. Q1: Define the following terminologies: a. Cost Accounting b. Financial Accounting c. The organizational Chart (Also draw it graphically) d. Treasurer & Controller (Also write down their functions) Q2 (a): Write down the similarities of cost accounting and financial accounting? Q2 (b): What are the difference between cost accounting and financial accounting? Q2 (c): What is the concept of management in cost accounting and explain its different levels and functions? Q3 (a): Define cost, expenses and expenditures and also write down the main differences between these three terms? Q3 (b): There are 4 broad categories of costs in cost accounting. Explain in detail all these categories and their sub-categories with practical examples?

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Cost Accounting (Assignment – 1)
Q4:Alpha Company has the following information available for the month of February-2012:
Items Sales Indirect Labor Cost Direct Labor Cost Utilities Expenses Depreciation: Plant Depreciation: Machinery Depreciation: Furniture Depreciation: Building Depreciation: Equipment Insurance Taxes Sales Commission Sales Executive Salary Legal fees paid Purchases Fuel expenses Freight in Transportation out Wages on purchases Advertising Expenses Office Supplies Rent Repairs and Maintenance Inventories: Raw Material Work