Costing

1. Which of the following accounts is similar to the inventory account of a merchandising company?

Raw materials inventory
Work-in-process inventory
Finished goods inventory
Manufacturing inventory

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merchandising company?" class="read-more button" href="https://exam.pscnotes.com/mcq/which-of-the-following-accounts-is-similar-to-the-inventory-account-of-a-merchandising-company/#more-52858">Detailed SolutionWhich of the following accounts is similar to the inventory account of a merchandising company?

2. Costing system, which omits some of journal entries in accounting system is known as

in-time costing
trigger costing
back flush costing
lead time costing

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is known as" class="read-more button" href="https://exam.pscnotes.com/mcq/costing-system-which-omits-some-of-journal-entries-in-accounting-system-is-known-as/#more-52852">Detailed SolutionCosting system, which omits some of journal entries in accounting system is known as

3. The expenses relating to a particular process is ________.

debited to that process a/c
credited to that process a/c
debited to costing profit and loss a/c
debited to profit and loss a/c

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288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 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
href="https://exam.pscnotes.com/mcq/the-expenses-relating-to-a-particular-process-is-________/#more-52838">Detailed SolutionThe expenses relating to a particular process is ________.

4. Operating cost is usually ascertained through ________.

a ledger account
profit and loss a/c
balance sheet
a statement

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81.2-142.7 81.2z"/> Subscribe on YouTube class="read-more button" href="https://exam.pscnotes.com/mcq/operating-cost-is-usually-ascertained-through-________/#more-52824">Detailed SolutionOperating cost is usually ascertained through ________.

5. For printing of wedding invitation card the most appropriate costing system is

Process costing
Contract costing
Unit costing
Job costing

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system is" class="read-more button" href="https://exam.pscnotes.com/mcq/for-printing-of-wedding-invitation-card-the-most-appropriate-costing-system-is/#more-52748">Detailed SolutionFor printing of wedding invitation card the most appropriate costing system is

6. Service costing is called as . . . . . . . .

Operation costing
Operating costing
Multiple costing
None of these

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. . ." class="read-more button" href="https://exam.pscnotes.com/mcq/service-costing-is-called-as/#more-52733">Detailed SolutionService costing is called as . . . . . . . .

7. If economic order quantity for one year is 15000 packages and demand in units for one year are 1500 units, then number of deliveries in a year will be

16
12
10
14

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24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 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 be" class="read-more button" href="https://exam.pscnotes.com/mcq/if-economic-order-quantity-for-one-year-is-15000-packages-and-demand-in-units-for-one-year-are-1500-units-then-number-of-deliveries-in-a-year-will-be/#more-52720">Detailed SolutionIf economic order quantity for one year is 15000 packages and demand in units for one year are 1500 units, then number of deliveries in a year will be

8. Method which allocates cost of support department to only operating departments is called

indirect method
direct method
step down method
reciprocal method

Detailed

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SolutionMethod which allocates cost of support department to only operating departments is called

9. If static budget amount is $6000 and flexible budget amount is $15000, then sales volume variance will be

$9,000
$8,000
$12,000
$21,000

Detailed Solution

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class="screen-reader-text">If static budget amount is $6000 and flexible budget amount is $15000, then sales volume variance will be

10. If demand of one year is 25000 units, relevant ordering cost for each purchase order is $210, carrying cost of one unit of stock is $25 then economic order quantity will be

678 packages
648 packages
658 packages
668 packages

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order quantity will be" class="read-more button" href="https://exam.pscnotes.com/mcq/if-demand-of-one-year-is-25000-units-relevant-ordering-cost-for-each-purchase-order-is-210-carrying-cost-of-one-unit-of-stock-is-25-then-economic-order-quantity-will-be/#more-52629">Detailed SolutionIf demand of one year is 25000 units, relevant ordering cost for each purchase order is $210, carrying cost of one unit of stock is $25 then economic order quantity will be
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