Meril Executive Accountant Interview Questions and Answers

Overheads allocation differs for service and manufacturing industries.

• For service industry, overheads are allocated based on the time spent on each project or client.

• For manufacturing industry, overheads are allocated based on the number of units produced.

• Service industry overheads include rent, utilities, salaries, etc.

• Manufacturing industry overheads include rent, utilities, salaries, depreciation, etc.

• Activity-based...read more

Cost sheet format includes direct and indirect costs. Cost audit report has 4 parts: A - General information, B - Cost accounting records, C - Cost statements, D - Reconciliation.

• Cost sheet format includes direct and indirect costs

• Direct costs include raw materials, labor, and other expenses directly related to production

• Indirect costs include rent, utilities, and other expenses not directly related to production

• Cost a...read more

Annexure of cost audit is a document that contains detailed information about the cost audit conducted by a company.

• It includes details about the company's financial statements, cost accounting records, and other relevant information.

• The annexure is prepared by the cost auditor and submitted to the company's management.

• It helps the management to understand the cost structure of the company and identify areas where cost...read more