Costing

1. Bonus under Rowan scheme is paid ________.

as a proportion of standard time to actual time
as a proportion of actual time to standard time
as a proportion of time saved to standard time
as a proportion of standard time to time saved

Detailed SolutionBonus under Rowan scheme is paid ________.

2. . . . . . . . . costing is a type or technique of costing.

Marginal
Batch
Multiple
Job

Detailed Solution. . . . . . . . costing is a type or technique of costing.

3. Time wages are paid on the basis of ________.

actual time
standard time
time saved
overtime

Detailed SolutionTime wages are paid on the basis of ________.

4. Following information is available of PQR for year ended March, 20XX: 4,000 units in process, 3,800 units output, 10% of input is normal wastage, Rs 2.50 per unit is scrap value and Rs 46,000 incurred towards total process cost then amount on account of abnormal gain to be transferred to Costing P&L will be:-

Rs 2,500
Rs 2,000
Rs 4,000
Rs 3,500

Detailed SolutionFollowing information is available of PQR for year ended March, 20XX: 4,000 units in process, 3,800 units output, 10% of input is normal wastage, Rs 2.50 per unit is scrap value and Rs 46,000 incurred towards total process cost then amount on account of abnormal gain to be transferred to Costing P&L will be:-

5. If an actual selling price is $400, an actual result is $250 and an actual units sold are 500, then selling price variance will be

$45,000
$55,000
$75,000
$65,000

Detailed SolutionIf an actual selling price is $400, an actual result is $250 and an actual units sold are 500, then selling price variance will be

6. An examination of the sources and uses of funds is a part of

ratio analysis
fund flow analysis
forecasting technique
calculation for preparing the balance sheet

Detailed SolutionAn examination of the sources and uses of funds is a part of

7. . . . . . . . . is one which can be conveniently identified with and charged to a particular unit of cost.

Direct cost
Indirect cost
Overhead
None of these

Detailed Solution. . . . . . . . is one which can be conveniently identified with and charged to a particular unit of cost.

8. In linear cost function which is y=a + bx, objective is to find the

values of a and b
values of x and y
values of a and x
values of b and y

Detailed SolutionIn linear cost function which is y=a + bx, objective is to find the

9. Stores Ledger is maintained in the . . . . . . . .

store
finance department
cost accounting department
Both A and B

Detailed SolutionStores Ledger is maintained in the . . . . . . . .

10. Comparison of the financial statements of the current year with the performance of previous years of the same firm is known as

Trend analysis
Horizontal analysis
Intra-firm comparison
All of the above

Detailed SolutionComparison of the financial statements of the current year with the performance of previous years of the same firm is known as

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