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1. What is the cost determination process of Aristocrat agro Ltd. (Rice mill)
2. How Aristocrat control cost?
Ans: Aristocrat Control cost by some steps. They are:
1. They identify the wastage & try to eliminate them
2. They identify the causes that are resulting decrease of profit or loss and try to find a
solution to overcome it
3. They try to control the materials & their costs
4. They measure the effect of capacity utilization at different level
3. How cost determination and control help Aristocrat in decision making?
Ans: Cost determination & cost control helps aristocrat in decision making. They provide
important information to management about accepting or rejecting any project. They help
to fix the price of their product (rice)
4. Does Aristocrat provide their supply information to government?
a) Yes, b) No, c) If necessary.
5. What are the strategies for preventing fraudulent in Aristocrat?
6. How Aristocrat represent Expense & Production cost?
Ans: They treat Expense in Income statement when benefit is already received. And they
treat Production cost in the Income Statement as Cost Of Goods Sold after sell and before
sell they showed it in Balance Sheet as Inventory.
7. How Aristocrat represent loss in their financial statement?
8. Which method Aristocrat use to find out total cost?
a) Job Order Costing, b) Process Costing
9. How costs are allocated to products and services?
a) Historical/ Actual Cost, b) Standard Costing
10. Which techniques Aristocrat use to present cost information to management?
a) Direct costing, b) Absorption costing
11. Which cost concept Aristocrat use to determine cost of materials, goods, labor, FOH etc.?
a) Cost composition, b) Cost Attachment, c) Cost flow concept, d) Cost Formulation
12. How cost concept helps Aristocrat in future investment plan?
Ans: Cost concept helps Aristocrat in future investment plan by providing necessary
information, by control cost and maximize profit, by recording informations for future.
13. While preparing cost accounts, how Aristocrat determine cost unit to identify
expenditure?