[amp_mcq option1=”Rs. 50000″ option2=”Rs. 60000″ option3=”Rs. 70000″ option4=”Rs. 80000 E. Rs. 90000″ correct=”option3″]
Costing
2. Costing and cost accounting are . . . . . . . .
[amp_mcq option1=”not the same” option2=”one and the same” option3=”not related at all” option4=”None of these” correct=”option1″]
Detailed SolutionCosting and cost accounting are . . . . . . . .
3. Insurance and garage rent is ________.
[amp_mcq option1=”fixed charges” option2=”maintenance charges” option3=”operating charges” option4=”running charges” correct=”option1″]
4. When the actual overhead is less than the absorbed overhead it is ________.
[amp_mcq option1=”over absorption” option2=”under absorption” option3=”equal absorption” option4=”major absorption” correct=”option2″]
Detailed SolutionWhen the actual overhead is less than the absorbed overhead it is ________.
5. Better administration of budget in budgeting plans require
[amp_mcq option1=”intelligent interpretations” option2=”participation” option3=”persuasion” option4=”all of above” correct=”option4″]
Detailed SolutionBetter administration of budget in budgeting plans require
6. Bad debt is an example of ________.
[amp_mcq option1=”production overhead” option2=”administrative overhead” option3=”selling overhead” option4=”distribution overhead” correct=”option3″]
7. Larger number of manager subordinates and higher level manager are termed as
[amp_mcq option1=”activity subordinates” option2=”broader responsibility center” option3=”broader subordinates” option4=”activity ordinates” correct=”option2″]
Detailed SolutionLarger number of manager subordinates and higher level manager are termed as
8. Calendar Ratio =
[amp_mcq option1=”$$\frac{{{\text{Number of actual working days in a period}}}}{{{\text{Number of working days in the budget period}}}} \times 100$$” option2=”$$\frac{{{\text{Actual hours worked}}}}{{{\text{Budgeted hours}}}} \times 100$$” option3=”$$\frac{{{\text{Standard hours for actual production}}}}{{{\text{Actual hours worked}}}} \times 100$$” option4=”$$\frac{{{\text{Standard hours for actual production}}}}{{{\text{Budgeted standard hours}}}} \times 100$$” correct=”option1″]
9. If beginning work-in-process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work-in-process equivalent units are 5000 units, then complete equivalent units 8 in current period are
[amp_mcq option1=”1800 units” option2=”1500 units” option3=”1300 units” option4=”1000 units” correct=”option1″]
10. Which of the following is a service department?
[amp_mcq option1=”Refining department” option2=”Machining department” option3=”Receiving department” option4=”Finishing department” correct=”option3″]
Detailed SolutionWhich of the following is a service department?