[amp_mcq option1=”step constant functions” option2=”step cost functions” option3=”step price functions” option4=”step object functions” correct=”option2″]
Costing
2. Abnormal loss and its value are _______.
[amp_mcq option1=”debited to process a/c” option2=”credited to process a/c” option3=”debited to costing profit and loss a/c” option4=”debited to profit and loss a/c” correct=”option4″]
3. Which technique, used for figures of two or more periods, is placed side by side to facilitate easy and meaningful comparisons?
[amp_mcq option1=”Comparative statement” option2=”Common-size statement” option3=”Trend analysis” option4=”None of the above” correct=”option1″]
4. Sundry overhead expenses may be apportioned in the ratio of ________.
[amp_mcq option1=”material consumed” option2=”number of employees” option3=”labour hours” option4=”machine hours” correct=”option4″]
Detailed SolutionSundry overhead expenses may be apportioned in the ratio of ________.
5. The type of standard best suitable for cost control purpose is:
[amp_mcq option1=”Basic standard” option2=”Ideal standard” option3=”Normal standard” option4=”Expected standard” correct=”option4″]
Detailed SolutionThe type of standard best suitable for cost control purpose is:
6. If difference in costs is $7000 and difference in machine hours of is $18000, then slope coefficient would be
[amp_mcq option1=”2.571″ option2=”0.39″ option3=”0.2571″ option4=”3.39″ correct=”option1″]
7. Total costs incur in a production process, is divided by total number of output units to calculate the
[amp_mcq option1=”cost of indirect labour” option2=”cost of direct labour” option3=”cost of direct material” option4=”unit costs” correct=”option4″]
8. For a work order, standard time and time taken are 20 hours and 15 hours respectively. Time rate being Rs. 2 per hour, total wages payable under Rowan Premium Plan will be:
[amp_mcq option1=”40″ option2=”37.5″ option3=”35″ option4=”None of these” correct=”option1″]
9. Method of costing that supports creation of value for customer by accounting whole value stream, rather than individual departments or products is classified as
[amp_mcq option1=”economic accounting” option2=”back-flush accounting” option3=”lean accounting” option4=”lead accounting” correct=”option3″]
10. Appropriate basis for apportionment of material handling charges is ________.
[amp_mcq option1=”material purchased” option2=”material in stock” option3=”material consumed” option4=”material wasted” correct=”option3″]
Detailed SolutionAppropriate basis for apportionment of material handling charges is ________.