Costing

[amp_mcq option1=”focused accounting” option2=”responsibility accounting” option3=”information accounting” option4=”blame accounting” correct=”option2″]

Detailed SolutionType of accounting, which focuses on whom should be asked for information and whom not will be categorized as

[amp_mcq option1=”key” option2=”lock” option3=”house” option4=”None of these” correct=”option1″]

Detailed SolutionThe ordinary trading account is a locked storehouse of most valuable information to which cost system is the . . . . . . . .

[amp_mcq option1=”inter departmental profit” option2=”abnormal gain” option3=”inter process profit” option4=”manufacturing profit” correct=”option2″]

Detailed SolutionWhen output of earlier process is transferred at a profit to the subsequent process, it is ________.

[amp_mcq option1=”kilo watt hour” option2=”per household” option3=”voltage” option4=”None of these” correct=”option1″]

Detailed SolutionIn electricity supply company uses . . . . . . . . as cost unit.

[amp_mcq option1=”indirect method” option2=”direct method” option3=”step down method” option4=”reciprocal method” correct=”option4″]

Detailed SolutionMethod, which allocates cost of support department to operating and support departments is known as

[amp_mcq option1=”inefficient” option2=”efficient” option3=”Both A and B” option4=”lazy” correct=”option2″]

Detailed SolutionTaylors differential piece rate system provides for higher rate to . . . . . . . . workers.

[amp_mcq option1=”abnormal spoilage” option2=”Gross weighted spoilage” option3=”inventoriable spoilage” option4=”partial spoilage” correct=”option1″]

Detailed SolutionNormal spoilage is subtracted from total spoilage to calculate

[amp_mcq option1=”predicted fixed cost” option2=”predicted variable cost” option3=”predicted cost” option4=”predicted price” correct=”option3″]

Detailed SolutionIn linear cost function, which is y = a + bx, y is classified as

[amp_mcq option1=”$68,700″ option2=”$58,700″ option3=”$30,000″ option4=”$83,333.34″ correct=”option1″]

Detailed SolutionIf slope coefficient is 0.60 and difference in machine hours is 50000, then difference in cost can be

[amp_mcq option1=”a-2, b-4, c-3, d-1″ option2=”a-3, b-2, c-1, d-4″ option3=”a-3, b-1, c-4, d-2″ option4=”a-4, b-3, c-2, d-1″ correct=”option3″]

Detailed SolutionMatch the following. List-I List-II a. Debtor’s turnover ratio 1. Solvency ratio b. Proprietary ratio 2. Liquidity ratio c. Operating ratio 3. Activity ratio d. Acid test ratio 4. Profitability ratio