Costing Archives

1. Examples of nonlinear cost functions are

step constant functions

step cost functions

step price functions

step object functions

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2. Abnormal loss and its value are _______.

debited to process a/c

credited to process a/c

debited to costing profit and loss a/c

debited to profit and loss a/c

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3. Which technique, used for figures of two or more periods, is placed side by side to facilitate easy and meaningful comparisons?

Comparative statement

Common-size statement

Trend analysis

None of the above

Detailed SolutionWhich technique, used for figures of two

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or more periods, is placed side by side to facilitate easy and meaningful comparisons?

4. Sundry overhead expenses may be apportioned in the ratio of ________.

material consumed

number of employees

labour hours

machine hours

Detailed Solution

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class="screen-reader-text">Sundry overhead expenses may be apportioned in the ratio of ________.

5. The type of standard best suitable for cost control purpose is:

Basic standard

Ideal standard

Normal standard

Expected standard

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Solution

6. If difference in costs is $7000 and difference in machine hours of is $18000, then slope coefficient would be

2.571

0.39

0.2571

3.39

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Solution

7. Total costs incur in a production process, is divided by total number of output units to calculate the

cost of indirect labour

cost of direct labour

cost of direct material

unit costs

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in a production process, is divided by total number of output units to calculate the" class="read-more button" href="https://exam.pscnotes.com/mcq/total-costs-incur-in-a-production-process-is-divided-by-total-number-of-output-units-to-calculate-the/#more-46261">Detailed Solution

8. For a work order, standard time and time taken are 20 hours and 15 hours respectively. Time rate being Rs. 2 per hour, total wages payable under Rowan Premium Plan will be:

37.5

None of these

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9. Method of costing that supports creation of value for customer by accounting whole value stream, rather than individual departments or products is classified as

economic accounting

back-flush accounting

lean accounting

lead accounting

Detailed SolutionMethod of costing that supports creation of

value for customer by accounting whole value stream, rather than individual departments or products is classified as

10. Appropriate basis for apportionment of material handling charges is ________.

material purchased

material in stock

material consumed

material wasted

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