Truww Department Head Interview Questions and Answers

Product costing for new parts

• Determine the cost of raw materials and labor required for production

• Include overhead costs such as rent, utilities, and equipment maintenance

• Consider any additional costs such as shipping or packaging

• Compare the cost to market prices to ensure profitability

• Regularly review and adjust costing as needed

Zero based costing is a method of cost accounting that involves starting from scratch and justifying every expense.

• Zero-based costing requires a thorough analysis of all costs associated with a new part

• It involves starting from a zero base and justifying every expense

• This method is useful for identifying unnecessary costs and improving efficiency

• Example: A company wants to introduce a new product line and uses zero-bas...read more

Import activities involve bringing goods or services into a country from another country.

• Import activities require compliance with customs regulations and may involve paying import duties or taxes.

• Import activities can include sourcing products from international suppliers, arranging transportation, and managing customs clearance.

• Examples of import activities include importing raw materials for manufacturing, importing...read more