1. (a) Explain the concept and classification of Cost Accounting.
(b) Discuss in detail the objective and limitation of Management accounting.
2. (a) Describe in detail the procedure of the buying material for an industrial concern.
(b) For certain work order, the standard time is 20 hours,wages Rs5 per hour,the actual time taken is 13 hour and factory overhead charges are 80% of standard time.
(i) the halsey bonus system;
(ii) the rowan incentive bonus system