[amp_mcq option1=”30 units” option2=”1,333 units” option3=”3,000 units” option4=”None of the above” correct=”option1″]
Costing
2. “Calculate workers recruited and joined from the following: Labour turnover rates are 20%, 10% and 6% respectively under Flux method, Replacement method andSeparation method No of workers replaced during the quarter is 80”
[amp_mcq option1=”112″ option2=”80″ option3=”48″ option4=”64″ correct=”option1″]
3. Job costing used in ________.
[amp_mcq option1=”paper mills” option2=”chemical works” option3=”printing works” option4=”textile mill” correct=”option1″]
4. . . . . . . . . cost is irrecoverable cost.
[amp_mcq option1=”Marginal” option2=”Out of pocket” option3=”Sunk” option4=”None of these” correct=”option3″]
Detailed Solution. . . . . . . . cost is irrecoverable cost.
5. Which of the following is not correct?
[amp_mcq option1=”$${\text{Margin of Safety}} = \frac{{{\text{Profit}}}}{{\frac{{\text{P}}}{{\text{V}}}{\text{ratio}}}}$$” option2=”$$\frac{{\text{P}}}{{\text{V}}}{\text{ratio}} = \frac{{{\text{Change in contribution}}}}{{{\text{Change in sales}}}} \times 100$$” option3=”$${\text{Breakeven point in units}} = \frac{{{\text{Fixed Cost}}}}{{{\text{Contribution per unit}}}}$$” option4=”$${\text{Required sales to earn the desired profits}} = \frac{{{\text{Desired Profit}}}}{{\frac{{\text{P}}}{{\text{V}}}{\text{ratio}}}}$$” correct=”option1″]
6. Units of normal spoilage are divided to total completed units, rather than total actual produced units to calculate
[amp_mcq option1=”normal spoilage rates” option2=”abnormal spoilage rates” option3=”normal scrap rates” option4=”abnormal scrap rates” correct=”option1″]
7. Which of the following item of expenses will not appear in cost accounting.
[amp_mcq option1=”Direct material cost” option2=”Factory overheads” option3=”Selling Expenses” option4=”Loss on sale of fixed assets” correct=”option4″]
Detailed SolutionWhich of the following item of expenses will not appear in cost accounting.
8. Which of the following expenditure groups are direct expenses of the business?
[amp_mcq option1=”Salary, wages and shop rent” option2=”Stationary post and telephone bills” option3=”Wages, input vehicle expenses and local taxes” option4=”Advertisement, statutory fee and audit fee” correct=”option3″]
Detailed SolutionWhich of the following expenditure groups are direct expenses of the business?
9. A technique for estimating regression line, which minimizes sum of vertical deviations squares is classified as
[amp_mcq option1=”variable technique” option2=”least square technique” option3=”indexed technique” option4=”fixed technique” correct=”option2″]
10. Target price is subtracted from per unit target operating income to calculate
[amp_mcq option1=”total current full cost” option2=”total cost per unit” option3=”target operating income per unit” option4=”target cost per unit” correct=”option4″]
Detailed SolutionTarget price is subtracted from per unit target operating income to calculate