Costing

1. Study the following transactions I. Raising of short-term loans II. Goods purchased for cash III. Payment of bonus in the form of shares IV. Issue of shares in lieu of raw materials The flow of funds is

I, II, III and IV
II, III and IV
III and IV
Only IV

Detailed SolutionStudy the following transactions I. Raising of short-term loans II. Goods purchased for cash III. Payment of bonus in the form of shares IV. Issue of shares in lieu of raw materials The flow of funds is

8. Blanket overhead rate is:

One single overhead absorption rate for the whole factory
Rate which is blank or nil rate
rate in which multiple overhead rates are calculated for each production department, service department etc
Always a machine hour rate

Detailed SolutionBlanket overhead rate is:

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