Questions with Answers on Cost Estimation, Cost Reduction and Productivity

What is the Definition & Goal of Cost Estimation?
Explain different Cost Estimation Methods.
Explain briefly Account Analysis, Scatter Graphs, High-Low Method & Linear regression.
What do you mean by Strategic Role of Cost Estimation?
Explain the concept of Cost Reduction and Cost Control.
What are Cost Reduction Program and Cost Reduction Committee?

What are the Requisites of Satisfactory Cost Reduction Scheme?
Explain the Cost Reduction Fields.
Explain the various Cost Reduction Tools and Techniques.
Explain the Budgetary Control & Standard Costing.
What is Inventory Control?
Explain Standardization & Simplification. 
What are the methods of Determination of Factorial Productivity?
What are the measures of Improving Productivity?

What are the Advantages of Higher Productivity?
Explain Inflation Accounting (Accounting for Price Level Changes).