Costing

1. Which of the following accounts is similar to the inventory account of a merchandising company?

Raw materials inventory
Work-in-process inventory
Finished goods inventory
Manufacturing inventory

Detailed SolutionWhich of the following accounts

Subscribe on YouTube
Join Our Telegram Channel
is similar to the inventory account of a merchandising company?

2. Costing system, which omits some of journal entries in accounting system is known as

in-time costing
trigger costing
back flush costing
lead time costing

Join Our Telegram Channel

576 512"> Subscribe on YouTube
is known as" class="read-more button" href="https://exam.pscnotes.com/mcq/costing-system-which-omits-some-of-journal-entries-in-accounting-system-is-known-as/#more-52852">Detailed SolutionCosting system, which omits some of journal entries in accounting system is known as

3. The expenses relating to a particular process is ________.

debited to that process a/c
credited to that process a/c
debited to costing profit and loss a/c
debited to profit and loss a/c

Join Our Telegram Channel
Subscribe on YouTube
is ________." class="read-more button" href="https://exam.pscnotes.com/mcq/the-expenses-relating-to-a-particular-process-is-________/#more-52838">Detailed SolutionThe expenses relating to a particular process is ________.

4. Operating cost is usually ascertained through ________.

a ledger account
profit and loss a/c
balance sheet
a statement

Join Our Telegram Channel

288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube ________." class="read-more button" href="https://exam.pscnotes.com/mcq/operating-cost-is-usually-ascertained-through-________/#more-52824">Detailed SolutionOperating cost is usually ascertained through ________.

5. For printing of wedding invitation card the most appropriate costing system is

Process costing
Contract costing
Unit costing
Job costing

Join Our Telegram Channel
Subscribe on YouTube
costing system is" class="read-more button" href="https://exam.pscnotes.com/mcq/for-printing-of-wedding-invitation-card-the-most-appropriate-costing-system-is/#more-52748">Detailed SolutionFor printing of wedding invitation card the most appropriate costing system is

6. Service costing is called as . . . . . . . .

Operation costing
Operating costing
Multiple costing
None of these

Join Our Telegram Channel
Subscribe on YouTube
." class="read-more button" href="https://exam.pscnotes.com/mcq/service-costing-is-called-as/#more-52733">Detailed SolutionService costing is called as . . . . . . . .

7. If economic order quantity for one year is 15000 packages and demand in units for one year are 1500 units, then number of deliveries in a year will be

16
12
10
14

Detailed SolutionIf economic order quantity for one year is 15000 packages and demand in units for one year

Join Our Telegram Channel
Subscribe on YouTube
are 1500 units, then number of deliveries in a year will be

8. Method which allocates cost of support department to only operating departments is called

indirect method
direct method
step down method
reciprocal method

Join Our Telegram Channel

11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube called" class="read-more button" href="https://exam.pscnotes.com/mcq/method-which-allocates-cost-of-support-department-to-only-operating-departments-is-called/#more-52671">Detailed SolutionMethod which allocates cost of support department to only operating departments is called

9. If static budget amount is $6000 and flexible budget amount is $15000, then sales volume variance will be

$9,000
$8,000
$12,000
$21,000

Join Our Telegram Channel

89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube will be" class="read-more button" href="https://exam.pscnotes.com/mcq/if-static-budget-amount-is-6000-and-flexible-budget-amount-is-15000-then-sales-volume-variance-will-be/#more-52667">Detailed SolutionIf static budget amount is $6000 and flexible budget amount is $15000, then sales volume variance will be

10. If demand of one year is 25000 units, relevant ordering cost for each purchase order is $210, carrying cost of one unit of stock is $25 then economic order quantity will be

678 packages
648 packages
658 packages
668 packages

Detailed SolutionIf demand of one year

Join Our Telegram Channel
class="youtube-subscribe-container"> Subscribe on YouTube
is 25000 units, relevant ordering cost for each purchase order is $210, carrying cost of one unit of stock is $25 then economic order quantity will be

Page 1Page 2Page 3Page 4Page 5
Test 1Test 2Test 3Test 4Test 5Test 6Test 7Test 8Test 9Test 10Test 11Test 12Test 13Test 14Test 15Test 16Test 17Test 18Test 19Test 20Test 21Test 22Test 23Test 24