Mahanadi Coalfields Interview Questions, Process, and Tips for Freshers

Target costing is a cost management technique used to determine the maximum cost of a product based on customer demand and profit margins.

• It involves setting a target cost for a product before it is developed.

• The target cost is determined by subtracting the desired profit margin from the expected selling price.

• The cost of production is then managed to ensure that it does not exceed the target cost.

• This technique helps ...read more

Target costing derives the cost at which a product must be manufactured to generate a desired profit margin.

• Target costing is a cost management tool used in product development.

• It involves determining the maximum cost that can be incurred for a product to be profitable.

• The target cost is then derived by subtracting the desired profit margin from the expected selling price.

• The target cost is used as a benchmark for the ...read more

GST is not applicable on certain products.

• Basic groceries such as fruits, vegetables, milk, and bread

• Education services

• Healthcare services

• Public transportation

• Postal services

• Exported goods and services

Negative list of GST includes goods and services that are exempted from GST.

• Goods and services that are not subject to GST

• Examples include alcohol for human consumption, petroleum products, and electricity

• These items are not eligible for input tax credit

The Wages Bill Amendment Act is a law that regulates the payment of wages to workers in India.

• The act was first introduced in 1948 and has been amended several times since then.

• The latest amendment was made in 2017 and introduced the concept of a 'universal minimum wage'.

• The amendment also made it mandatory for employers to pay wages electronically, unless the employee requests otherwise.

• The act covers all workers in I...read more

There are several types of wages act depending on the country and region.

• Wages act varies from country to country

• In India, there are several wages act such as Minimum Wages Act, Payment of Wages Act, etc.

• In the United States, the Fair Labor Standards Act (FLSA) is the primary federal law governing wages and hours of work.

• Other countries may have their own specific wages act.

Fixed, regular, permanent, and contractual types of employment defined.

• Fixed type employment refers to a job with a predetermined end date.

• Regular type employment is a job with no predetermined end date and is ongoing.

• Permanent type employment is a job that is expected to last indefinitely.

• Contractual type employment is a job that is based on a specific contract or agreement.

• Examples of fixed type employment include se...read more

Yes, GST is applicable on electricity.

• GST is applicable on the supply of goods and services, including electricity.

• Electricity is classified as a 'goods' under GST.

• GST rates on electricity vary depending on the type of consumer and the state.

• For example, residential consumers may have a lower GST rate compared to commercial consumers.

The biggest consumer of Coal India Limited coal is the power sector.

• The power sector consumes the majority of the coal produced by Coal India Limited.

• Coal is used as a fuel in thermal power plants to generate electricity.

• Industries such as steel, cement, and fertilizer also consume coal, but the power sector is the largest consumer.

• Coal India Limited supplies coal to various power utilities and power generation compani

The percentage of roof bolts tested for anchorage testing varies depending on the mining regulations and safety standards.

• The percentage of roof bolts tested for anchorage testing can range from 10% to 100%.

• The specific percentage is determined by mining regulations and safety standards.

• The purpose of anchorage testing is to ensure the stability and safety of the roof in underground mining operations.

• The testing involv...read more