Costing

1. The normal cost of normal output is Rs. 3,000; value of abnormal loss is Rs. 450 and normal output is 200 units. The units of abnormal loss would be-

30 units
1,333 units
3,000 units
None of the above

Join Our Telegram Channel

11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube
units of abnormal loss would be-" class="read-more button" href="https://exam.pscnotes.com/mcq/the-normal-cost-of-normal-output-is-rs-3000-value-of-abnormal-loss-is-rs-450-and-normal-output-is-200-units-the-units-of-abnormal-loss-would-be/#more-54144">Detailed SolutionThe normal cost of normal output is Rs. 3,000; value of abnormal loss is Rs. 450 and normal output is 200 units. The units of abnormal loss would be-

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”

112
80
48
64

Join Our Telegram Channel

11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube
is 80”" class="read-more button" href="https://exam.pscnotes.com/mcq/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-durin/#more-54130">Detailed Solution“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”

3. Job costing used in ________.

paper mills
chemical works
printing works
textile mill

Detailed Solution

Join Our Telegram Channel
Subscribe on YouTube
class="screen-reader-text">Job costing used in ________.

4. . . . . . . . . cost is irrecoverable cost.

Marginal
Out of pocket
Sunk
None of these

Detailed

Join Our Telegram Channel
Subscribe on YouTube
Solution. . . . . . . . cost is irrecoverable cost.

5. Which of the following is not correct?

$${ ext{Margin of Safety}} = rac{{{ ext{Profit}}}}{{ rac{{ ext{P}}}{{ ext{V}}}{ ext{ratio}}}}$$
$$ rac{{ ext{P}}}{{ ext{V}}}{ ext{ratio}} = rac{{{ ext{Change in contribution}}}}{{{ ext{Change in sales}}}} imes 100$$
$${ ext{Breakeven point in units}} = rac{{{ ext{Fixed Cost}}}}{{{ ext{Contribution per unit}}}}$$
$${ ext{Required sales to earn the desired profits}} = rac{{{ ext{Desired Profit}}}}{{ rac{{ ext{P}}}{{ ext{V}}}{ ext{ratio}}}}$$

Join Our Telegram Channel
Subscribe on YouTube
class="read-more button" href="https://exam.pscnotes.com/mcq/which-of-the-following-is-not-correct/#more-54092">Detailed SolutionWhich of the following is not correct?

6. Units of normal spoilage are divided to total completed units, rather than total actual produced units to calculate

normal spoilage rates
abnormal spoilage rates
normal scrap rates
abnormal scrap rates

Detailed SolutionUnits of

Join Our Telegram Channel
Subscribe on YouTube
normal spoilage are divided to total completed units, rather than total actual produced units to calculate

7. Which of the following item of expenses will not appear in cost accounting.

Direct material cost
Factory overheads
Selling Expenses
Loss on sale of fixed assets

Detailed SolutionWhich of the

Join Our Telegram Channel
Subscribe on YouTube
following item of expenses will not appear in cost accounting.

8. Which of the following expenditure groups are direct expenses of the business?

Salary, wages and shop rent
Stationary post and telephone bills
Wages, input vehicle expenses and local taxes
Advertisement, statutory fee and audit fee

Join Our Telegram Channel
Subscribe on YouTube
expenditure groups are direct expenses of the business?" class="read-more button" href="https://exam.pscnotes.com/mcq/which-of-the-following-expenditure-groups-are-direct-expenses-of-the-business/#more-54074">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

variable technique
least square technique
indexed technique
fixed technique

Detailed SolutionA technique for estimating regression line,

Join Our Telegram Channel
Subscribe on YouTube
which minimizes sum of vertical deviations squares is classified as

10. Target price is subtracted from per unit target operating income to calculate

total current full cost
total cost per unit
target operating income per unit
target cost per unit

Join Our Telegram Channel
Subscribe on YouTube
button" href="https://exam.pscnotes.com/mcq/target-price-is-subtracted-from-per-unit-target-operating-income-to-calculate/#more-54064">Detailed SolutionTarget price is subtracted from per unit target operating income to calculate

Page 1Page 2Page 3Page 4Page 5
Test 1Test 2Test 3Test 4Test 5Test 6Test 7Test 8Test 9Test 10Test 11Test 12Test 13Test 14Test 15Test 16Test 17Test 18Test 19Test 20Test 21Test 22Test 23Test 24