Q1. Define cost center
Q2. State five factors influencing cost center in business
Q3. A company uses 2600units of a component per annum in the manufacturing of one of it's product. The brought in cost of component is $4 per unit, each purchase order cost $65, the cost of carrying stock is 20% of cost unit per annum. Require: Calculate the economy order quantity (EOQ)
Q4. Opportunity Cost and sunk cost are among the concept of cost. Require:
I. define the terms
Ii. subject for each of them situation in which the concept they might be applied
Iii. Access briefly the significance of each of the concept.