Costing

Raw material conversion period, work-in-progress conversion period, Finished goods conversion period, Receivables conversion period

Raw material conversion period, work-in-progress conversion period, Creditors payment period, Receivables conversion period

Creditor payment period, Raw material conversion period, Receivables conversion period, work-in-progress conversion

Raw material conversion period, Finished goods conversion period, work-in-progress conversion period, Receivables conversion period

Abnormal Cost

Marginal Cost

Fixed Cost

Semi Variable Cost E. Sunk Cost

step down allocation method

stand-alone revenue allocation method

incremental revenue allocation method

revenue mix allocation method

Standard labour time indicates the time in hours needed for a specific process

It is standardized on the basis of past experience

In fixing standard time, due allowance should not be given to fatigue and tool setting

The production manager does not provide any input in setting the labour time standards

$$ rac{{{ ext{Number of actual working days in a period}}}}{{{ ext{Number of working days in the budget period}}}} imes 100$$

$$ rac{{{ ext{Actual hours worked}}}}{{{ ext{Budgeted hours}}}} imes 100$$

$$ rac{{{ ext{Standard hours for actual production}}}}{{{ ext{Actual hours worked}}}} imes 100$$

$$ rac{{{ ext{Standard hours for actual production}}}}{{{ ext{Budgeted standard hours}}}} imes 100$$

indirect costs

overhead costs

premium costs

both a and b

Financial

Cost

Human Resource

None of these

production driver

cost driver

price driver

estimation driver

Rs. 1.25

Rs. 8.00

Rs. 8.75

Rs. 8.88

the present value of future benefits

the value of sacrifice made to acquire goods or services

an asset that has given benefit but now expired

the price of products sold or services rendered