Costing Archives

141. An unfavourable material price variance occurs because of:

Price increase in raw materials

Price decrease in raw materials

Less than anticipated normal wastage in the manufacturing process

More than anticipated normal wastage in the manufacturing process

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142. . . . . . . . . provides information for income determination.

Financial accounting

Cost accounting

Management accounting

None of these

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143. Mr. Ram has to buy 4000 units. His annual consumption is 4000 units, order cost is Rs. 80 and maintenance cost in a year is Rs. 4. Economic order quantity will be

100 units

200 units

300 units

400 units

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Detailed SolutionMr. Ram has to buy 4000 units. His annual consumption is 4000 units,

order cost is Rs. 80 and maintenance cost in a year is Rs. 4. Economic order quantity will be

144. Labour productivity can NOT be measured by comparing ________.

actual time with standard time

total output with total man hours

added value for the product with total wage cost

total wage and total output

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145. In costing of project, wages paid to workers for unproductive work at time of material shortage is termed as

indirect wages

health wages

idle time wages

shortage time wages

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Solution

146. Cost accounting is

Part of managerial accounting

Part of financial accounting

Part of liability accounting

None of these

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147. Second step in processing costing system is to

summarize total costs

compute cost for each equivalent unit

summarize flow of output

compute output in units

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148. Balance of abnormal gain a/c is transferred to ________.

balance sheet

debit side of profit and loss a/c

credit side of profit and loss a/c

costing profit and loss a/c

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