2023 WASSCE: Cost Accounting Likely Questions

The 2023 WASSCE Principles of Cost Accounting paper will be written on 1st September, 2023 at 8:30am. Let’s take a look at the likely topics.

These likely 2023 WASSCE Principles of Cost Accounting questions are set to guide candidates and make them abreast of the kind of questions they are to expect in the main exams.

LIKELY QUESTIONS

1. Explain the following types of cost:

(a) Material cost

(b) Period cost

(c) Product cost

(d) Functional cost

(e) Marginal cost ( 15 marks

2.a) What is labour?

(b) Explain labour turnover

(c) State five causes of labour turnover

3. (a) What is stock control?

(b) Explain five factors that determine the levels of stock to be kept in store by an organization

4.(a) Explain the activity based costing model

(b) State four differences between the activity based costing and the traditional product cost system.

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5.Explain the following types of cost:
(a) Material cost
(b) Period cost
(c) Product cost
(d) Functional cost
(e) Marginal cost

6. (a) What is labour? (2 marks)

(b) Explain labour turnover. ( 3 marks )

(c) State five causes of labour turnover
( 10 marks)

7. (a) What is stock control? (5 marks)

(b) Explain five factors that determine the levels of stock to be kept in store by an organization. (10 marks)

8. (a) Explain the activity based costing model. (3 marks )

(b) State four differences between the activity based costing and the traditional product cost system. (12 marks )

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9. Explain the following types of cost:
(a) Material cost

(b) Period cost

(c) Product cost

(d) Functional cost

(e) Marginal cost ( 15 mark )

10. Rexbank ltd has provided the following forecast in respect of usage of material ‘G’.
Maximum usage per month 600 units

Normal usage per month 400 units

Re-order quantity 2000 units

Re-order period 3 – 5 months

You are required to calculate:
(a) Re-order level (4 marks)
(b) Minimum stock level (4 marks)
(c) Maximum stock level (4 marks)
(d) Average stock level (3 marks)

We hope these questions were of grate help of candidates. Solve other past questions as well and make sure to master our projected topics. All the best.