1. An implementation of activity based costing would be possible only if accountants find

goodness of each activity
handling of each activity
cost driver for each activity
cost object for each activity

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be possible only if accountants find" class="read-more button" href="https://exam.pscnotes.com/mcq/an-implementation-of-activity-based-costing-would-be-possible-only-if-accountants-find/#more-49366">Detailed SolutionAn implementation of activity based costing would be possible only if accountants find

2. Stock verification sheets are maintained to record the results of . . . . . . . .

physical verification
financial control
financial verification
quality verification

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." class="read-more button" href="https://exam.pscnotes.com/mcq/stock-verification-sheets-are-maintained-to-record-the-results-of/#more-49362">Detailed SolutionStock verification sheets are maintained to record the results of . . . . . . . .

3. Material price variance = Actual usage (. . . . . . . .)

Standard price
Standard unit price - actual unit price
Actual price
Standard usage

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. . . .)" class="read-more button" href="https://exam.pscnotes.com/mcq/material-price-variance-actual-usage/#more-49360">Detailed SolutionMaterial price variance = Actual usage (. . . . . . . .)

4. If percentage of overall gross margin is 15 and final sales value of whole production is $20000, then gross margin (in dollars) will be

$30,000
$300,000
$40,000
$400,000

Detailed SolutionIf percentage of overall gross margin is 15 and final sales value of

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whole production is $20000, then gross margin (in dollars) will be

5. Perpetual inventory system involves __________

bincard and stores ledger
bill of material and material requisition
purchase requisition and purchase order
inward and outward invoices

Detailed SolutionPerpetual inventory system involves __________

6. Costing, which explains how and when scrap affects operating income of company is classified as

inventory costing
conversion costing
normal scrap costing
abnormal scrap costing

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d="M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 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 of company is classified as" class="read-more button" href="https://exam.pscnotes.com/mcq/costing-which-explains-how-and-when-scrap-affects-operating-income-of-company-is-classified-as/#more-49325">Detailed SolutionCosting, which explains how and when scrap affects operating income of company is classified as

7. Allotment of whole item of cost to a cost centre or cost unit is known as:

Cost Apportionment
Cost Allocation
Cost Absorption
Machine hour rate

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6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 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 class="screen-reader-text">Allotment of whole item of cost to a cost centre or cost unit is known as:

8. When prices are rising, the stock should be valued under:

FIFO method
LIFO method
General average method
Weighted average method

Detailed

SolutionWhen prices are rising, the stock should be valued under:

9. If budgeted total direct labour hours are 3800 and budgeted direct labour cost is $480000, then budgeted direct labour cost rate will be

$126.32 per labour hour
$128.32 per labour hour
$130 per labour hour
$132 per labour hour

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132.3-11.4 132.3s0 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 class="read-more button" href="https://exam.pscnotes.com/mcq/if-budgeted-total-direct-labour-hours-are-3800-and-budgeted-direct-labour-cost-is-480000-then-budgeted-direct-labour-cost-rate-will-be/#more-49307">Detailed SolutionIf budgeted total direct labour hours are 3800 and budgeted direct labour cost is $480000, then budgeted direct labour cost rate will be

10. If the current ratio is 2 : 1 and working capital is Rs. 60,000. What is the value of the current assets?

Rs. 60,000
Rs. 1,00,000
Rs. 1,20,000
Rs. 1,80,000

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class="screen-reader-text">If the current ratio is
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2 : 1 and working capital is Rs. 60,000. What is the value of the current assets?


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