CHSE Odisha Cost Accounting study plan

Distinguish cost, expense, loss and value, and classify costs by function, behaviour and traceability, producing a classification table with 12 examples drawn from manufacturing, transport and service settings.

Prepare a cost statement from a mixed list of 20 items, correctly separating prime cost, works/factory cost, cost of production, cost of goods sold and cost of sales.

Apply FIFO, LIFO and weighted-average methods to the same receipt-and-issue data and reconcile the three closing-stock values against each other.

Compute reorder level, economic order quantity, maximum, minimum and average stock levels, and stock turnover ratio from a supplied demand and lead-time data set.

Compute the same worker's gross wages under time rate, straight piece rate, Halsey, Rowan, Taylor differential piece rate and Gantt task bonus, and explain why the plans diverge.

Prepare a labour reconciliation covering idle time, overtime premium, shift allowance and fringe benefits, showing the split between direct and overhead cost.

Classify overheads by element, function and behaviour, then apportion service-department costs using direct, step-down and reciprocal (repeated distribution) methods.

Calculate machine-hour rate and labour-hour rate from a budget of overheads, activity hours and capacity levels.

Prepare a full cost sheet under absorption costing and reconcile its profit with a marginal-cost profit statement for the same data.

Apply primary and secondary overhead absorption, then compute over-absorption and under-absorption and state the accounting treatment of each.

Solve one comprehensive multi-part question that combines materials, labour and overheads into a cost sheet and a tender/quotation price.

Diagnose and correct five common overhead errors, including wrong absorption base, capacity versus actual activity, and omission of unabsorbed overhead.

Differentiate job, batch and contract costing and justify the correct method for eight given business scenarios.

Prepare a contract account showing work certified, work uncertified, retention money, notional profit and profit transferred under each of the three recognition formulas.

Compute an escalation-clause adjustment and derive a cost-plus contract price from a given cost breakdown.

Post contract-costing entries to the contractee account and the work-in-progress account, and explain the balance-day treatment of each.

Prepare a process account with normal loss, abnormal loss, abnormal gain and scrap value, and value transferred output correctly.

Compute equivalent production and work-in-progress value using degrees of completion for material, labour and overhead, under both FIFO and average methods.

Apportion joint costs by sales value, physical units and net realisable value, and account separately for by-products.

Prepare an operating-cost statement for a transport or hotel business and derive cost per passenger-kilometre or per room-night.

Separate fixed and variable costs by the high-low method and by least squares, then compute P/V ratio, break-even point, margin of safety and sales required for a target profit.

Use a marginal-cost statement to decide make-or-buy, accept-or-reject a special order, and sell-or-process-further, stating the relevant costs in each case.

Compute material, labour, overhead and sales variances, and reconcile budgeted profit with actual profit through a variance statement.

Assign each variance a likely cause and mark whether it is controllable by the production, purchase or sales department.

Prepare sales, production, material purchase, labour and cash budgets from a supplied sales forecast and opening balance sheet data.

Construct a flexible budget at three activity levels and explain how each cost line behaves as activity changes.

Calculate capacity utilisation, efficiency and activity ratios, and interpret the resulting variances in a short management note.

Draft an outline performance or zero-based budget for a small service unit, justifying each base-level expenditure.

Apply relevant-cost reasoning to five short decision scenarios, explicitly excluding sunk costs and apportioned fixed overheads.

Solve a complete 100-mark mock paper across all five domains under strict three-hour exam conditions.

Analyse mock-paper errors domain by domain and rewrite the five weakest answers correctly with full workings.

Compress all five domains into a one-page formula sheet and reproduce it from memory without reference.