[amp_mcq option1=”annual profit plan” option2=”budgeting” option3=”coordination” option4=”complex plan” correct=”option3″]
Costing
2. If beginning work in process inventory units are 2600, units started are 9000, ending work in process units are 2300 and completed good units are 8000 then total spoilage will be
[amp_mcq option1=”1200 units” option2=”990 units” option3=”1100 units” option4=”1000 units” correct=”option1″]
3. Relevant ordering costs are added into relevant carrying costs to calculate
[amp_mcq option1=”relevant total costs” option2=”contribution costs” option3=”throughput costs” option4=”optimized costs” correct=”option1″]
Detailed SolutionRelevant ordering costs are added into relevant carrying costs to calculate
4. Method which considers lowest and highest values of cost driver and cost within relevant range is called
[amp_mcq option1=”low high method” option2=”constant equation” option3=”variable equation” option4=”high low method” correct=”option4″]
5. Charging output with overhead at reasonable rate is called ________.
[amp_mcq option1=”allocation” option2=”appropriation” option3=”apportionment” option4=”absorption” correct=”option4″]
Detailed SolutionCharging output with overhead at reasonable rate is called ________.
6. If budgeted cost in indirect cost pool is $144500 and total quantity of cost allocation base is $165500, then budgeted indirect cost rate will be
[amp_mcq option1=”67.30%” option2=”87.31%” option3=”55.50%” option4=”45.50%” correct=”option1″]
7. Credit and collection cost is an item of:
[amp_mcq option1=”selling overhead” option2=”office overhead” option3=”prime cost” option4=”administrative overhead” correct=”option1″]
8. In accounting, cost which is predicted to be incurred or future cost is known as
[amp_mcq option1=”past cost” option2=”incurred cost” option3=”actual cost” option4=”budgeted cost” correct=”option4″]
Detailed SolutionIn accounting, cost which is predicted to be incurred or future cost is known as
9. A particular term for which specific revenue measurement is required is known as
[amp_mcq option1=”revenue allocation” option2=”revenue object” option3=”revenue increment” option4=”reciprocal revenue” correct=”option1″]
Detailed SolutionA particular term for which specific revenue measurement is required is known as
10. Method which divides support department cost into two dimensions such as fixed and variable cost pool is classified as
[amp_mcq option1=”sales mix allocation method” option2=”dual-rate cost-allocation method” option3=”single rate cost allocation method” option4=”quantity variance allocation method” correct=”option2″]