Costing

[amp_mcq option1=”as a proportion of standard time to actual time” option2=”as a proportion of actual time to standard time” option3=”as a proportion of time saved to standard time” option4=”as a proportion of standard time to time saved” correct=”option3″]

Detailed SolutionBonus under Rowan scheme is paid ________.

[amp_mcq option1=”Marginal” option2=”Batch” option3=”Multiple” option4=”Job” correct=”option1″]

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

[amp_mcq option1=”actual time” option2=”standard time” option3=”time saved” option4=”overtime” correct=”option1″]

Detailed SolutionTime wages are paid on the basis of ________.

[amp_mcq option1=”Rs 2,500″ option2=”Rs 2,000″ option3=”Rs 4,000″ option4=”Rs 3,500″ correct=”option1″]

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:-

[amp_mcq option1=”$45,000″ option2=”$55,000″ option3=”$75,000″ option4=”$65,000″ correct=”option3″]

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

[amp_mcq option1=”ratio analysis” option2=”fund flow analysis” option3=”forecasting technique” option4=”calculation for preparing the balance sheet” correct=”option2″]

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

[amp_mcq option1=”Direct cost” option2=”Indirect cost” option3=”Overhead” option4=”None of these” correct=”option1″]

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

[amp_mcq option1=”values of a and b” option2=”values of x and y” option3=”values of a and x” option4=”values of b and y” correct=”option1″]

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

[amp_mcq option1=”store” option2=”finance department” option3=”cost accounting department” option4=”Both A and B” correct=”option2″]

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

[amp_mcq option1=”Trend analysis” option2=”Horizontal analysis” option3=”Intra-firm comparison” option4=”All of the above” correct=”option1″]

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