Principles of Cost Accounting Questions For 2023 WASSCE Candidates – Solve Now

Principles of Cost Accounting paper will be written in few days time. It will be written on 1st September, 2023. We have once again compiled likely questions for the particular paper. All 2023 WASSCE candidates who offer this subject should go through these questions and solve them as soon as possible.

As you already know, our predicted questions give candidates the general idea of what they are to expect in the final exams.

QUESTIONS

1. There are over 33 types of cost. State and explain any five of them.

2.a) Explain labour turnover

(b) Differentiate between labour turnover and recruitment.

(c) List five(5) causes of labour turnover

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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.

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

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.