20+ Third Bridge Interview Questions and Answers

Cost, costing, cost accounting, and cost accountancy are related to the process of determining and analyzing the expenses incurred in producing goods or services.

• Cost refers to the amount of money spent on producing goods or services.

• Costing is the process of determining the total cost of production by analyzing various cost components.

• Cost accounting involves recording, classifying, and analyzing costs to help management make informed decisions.

• Cost accountancy is a broader ...read more

I have handled a variety of equipment in my role as a Production Officer.

• Machinery and tools used in the production process

• Quality control equipment such as calipers and gauges

• Computer systems and software for data analysis and production planning

• Safety equipment like personal protective gear and fire extinguishers

• Material handling equipment such as forklifts and pallet jacks

Absorption and over absorption of overheads occur when actual overhead costs differ from the overhead costs absorbed into production.

• Absorption of overheads occurs when actual overhead costs are absorbed into production based on a predetermined overhead rate.

• Over absorption of overheads happens when the absorbed overhead costs exceed the actual overhead costs incurred.

• Under absorption of overheads occurs when the absorbed overhead costs are less than the actual overhead costs...read more

Motor capacity is in Kw because it measures active power while transformer capacity is in kVA because it measures apparent power.

• Motor capacity is measured in Kw because it represents the active power that the motor can produce.

• Transformers are rated in kVA because they are designed to handle both active and reactive power.

• kVA is a measure of apparent power, which is the combination of active power and reactive power.

• The ratio of active power to apparent power is known as pow...read more

Cost accounting standards are necessary for ensuring consistency, transparency, and accuracy in financial reporting.

• Ensure consistency in cost calculations across different organizations

• Provide transparency in financial reporting for stakeholders

• Help in accurate decision-making by management

• Ensure compliance with regulatory requirements

• Facilitate comparison of costs and performance within an industry

• Examples: Cost Accounting Standards Board (CASB) in the US, International Fin...read more

Cost accounting standards are guidelines for measuring, assigning, and allocating costs in a consistent manner.

• Cost Accounting Standard 401: Determination of Reasonableness of Costs - Ensures that costs are reasonable and allocable to the contract.

• Cost Accounting Standard 402: Consistency in Allocating Costs Incurred for the Same Purpose - Requires consistent allocation of costs for the same purpose.

Budgetary control is a process of setting budgets, comparing actual performance against the budgets, and taking corrective actions to achieve financial goals.

• Setting budgets for different departments or projects

• Monitoring actual performance against the budgets

• Analyzing variances and taking corrective actions

• Helps in achieving financial goals and improving efficiency

• Example: A company sets a budget for marketing expenses and regularly compares actual spending to the budget to ...read more

Variance analysis is a technique used to compare actual costs to budgeted costs in order to identify differences and analyze the reasons behind them.

• Variance analysis helps in understanding the reasons for deviations from the budgeted costs.

• It involves comparing actual costs with standard or budgeted costs to determine the differences.

• Variances can be favorable (costs lower than expected) or unfavorable (costs higher than expected).

• By analyzing variances, companies can take c...read more

I have experience in implementing and optimizing process control systems to improve efficiency and quality.

• Implemented a PID control system for a chemical reactor to maintain temperature and pressure within desired ranges

• Optimized a distillation process by implementing a feedback control system to maintain product purity

• Developed and implemented a statistical process control system to monitor and improve the quality of a pharmaceutical manufacturing process

Vaccum distillation is a process of separating components of a mixture based on their boiling points under reduced pressure.

• It is used to purify heat-sensitive compounds.

• It is commonly used in the petroleum industry to separate crude oil into different components.

• The process involves heating the mixture under reduced pressure to lower the boiling point of the components.

• The vapors are then condensed and collected as separate fractions.

• It is an effective method for separating ...read more

Different types of motors include DC, AC, stepper, servo, and linear motors, each with unique applications.

• DC motors are commonly used in household appliances and electric vehicles.

• AC motors are used in industrial machinery and HVAC systems.

• Stepper motors are used in robotics and automation.

• Servo motors are used in precision control systems such as robotics and CNC machines.

• Linear motors are used in high-speed transportation systems and manufacturing equipment.

SCA 104 is a standard costing method used in manufacturing industries to determine the cost of products.

• SCA 104 stands for Standard Cost Accounting 104.

• It involves setting predetermined costs for direct materials, direct labor, and overhead.

• Variances are calculated by comparing actual costs to standard costs.

• Helps in cost control and decision-making.

• Example: If the standard cost for a product is $10 for direct materials and actual cost is $12, there is a $2 unfavorable varian...read more

Recent updates on GST include changes in tax rates, new compliance requirements, and updates on input tax credit rules.

• GST rates have been revised for various goods and services.

• New compliance requirements such as e-invoicing and QR code on invoices have been introduced.

• Updates on input tax credit rules to prevent fraudulent claims.

• Changes in GST return filing deadlines and procedures.

Cost sheet includes direct and indirect costs incurred in production.

• Includes direct materials, direct labor, and manufacturing overhead costs

• Indirect costs like factory rent, utilities, and depreciation are also included

• Helps in determining total production cost and setting selling prices

Centrifugal pumps use centrifugal force to move fluid, while positive displacement pumps use mechanical action to displace fluid.

• Centrifugal pumps use an impeller to create centrifugal force, which pushes the fluid outward.

• Positive displacement pumps use rotating or reciprocating mechanisms to displace fluid.

• Centrifugal pumps are typically used for high flow rates and low-pressure applications.

• Positive displacement pumps are better suited for high-pressure applications and ha...read more

The bearing types used in axially split centrifugal pumps are mainly ball bearings and sleeve bearings.

• Ball bearings are commonly used in axially split centrifugal pumps due to their high load capacity and low friction.

• Sleeve bearings, also known as journal bearings, are used in pumps that operate at lower speeds and lower loads.

• Other types of bearings, such as roller bearings, may also be used depending on the specific pump design and requirements.

Types of budgets include master budget, operating budget, financial budget, and static budget.

• Master budget: comprehensive overview of all financial activities for a specific period

• Operating budget: focuses on revenues and expenses related to the core operations of the business

• Financial budget: projects cash flows, capital expenditures, and financing activities

• Static budget: fixed budget based on a single level of activity

A scrubber is a device used to remove pollutants from exhaust gases.

• Scrubbers are commonly used in industrial processes and marine vessels to reduce air pollution.

• There are different types of scrubbers such as wet scrubbers, dry scrubbers, and gas scrubbers.

• Wet scrubbers use water or other liquids to remove pollutants from the gas stream.

• Dry scrubbers use a dry sorbent material to remove pollutants.

• Gas scrubbers are used to remove acid gases from the gas stream.

• Scrubbers are ...read more

Seal compression can be calculated by measuring the initial thickness of the seal and the final thickness after compression.

• Measure the initial thickness of the seal using a caliper or micrometer.

• Apply a known force to compress the seal.

• Measure the final thickness of the seal after compression.

• Subtract the initial thickness from the final thickness to calculate the seal compression.

• Seal Compression = Final Thickness - Initial Thickness

There are various types of pumps used in a Mee Plant Operator role.

• Centrifugal pumps

• Positive displacement pumps

• Reciprocating pumps

• Diaphragm pumps

• Gear pumps

• Screw pumps

• Vane pumps

Centrifuge handling procedure involves proper loading, balancing, and operation of the equipment.

• Ensure the centrifuge is properly calibrated and maintained.

• Load samples evenly and balance the rotor.

• Set the appropriate speed and time for the samples.

• After the run, carefully remove the samples and clean the rotor.

• Dispose of any hazardous materials properly.

• Follow all safety protocols and wear appropriate personal protective equipment.

• Regularly inspect the centrifuge for any si...read more

To start the pump, ensure power supply is connected, prime the pump, open the discharge valve, and switch on the pump motor.

• Check if the power supply is connected and turned on

• Prime the pump by filling the pump casing with liquid

• Open the discharge valve to allow the liquid to flow

• Switch on the pump motor to initiate pumping action

Condition monitoring is the process of monitoring the health and performance of machinery and equipment to detect any potential faults or failures.

• It involves the use of various techniques and tools to continuously monitor the condition of machines.

• Condition monitoring helps in identifying early signs of deterioration or malfunction, allowing for timely maintenance or repair.

• Common techniques used in condition monitoring include vibration analysis, thermography, oil analysis,...read more

Types of pumps include centrifugal pumps, reciprocating pumps, and rotary pumps.

• Centrifugal pumps use centrifugal force to move fluid through a rotating impeller.

• Reciprocating pumps use a piston or diaphragm to create pressure and move fluid.

• Rotary pumps use rotating mechanisms to transfer fluid, such as gear pumps or vane pumps.

There are several types of reactors used in various industries, including batch reactors, continuous stirred-tank reactors (CSTR), plug flow reactors (PFR), and fluidized bed reactors.

• Batch reactors are used for small-scale production and research purposes.

• CSTRs are commonly used in chemical and biochemical industries for continuous production.

• PFRs are used when a high degree of mixing is required.

• Fluidized bed reactors are used for catalytic reactions and gas-solid reactions...read more