Costing

11. What is the stock turnover ratio when the opening stock is Rs. 50,000; closing stock is Rs. 60,000 and; and the cost of goods sold is Rs. 2,20,000?

2 times
3 times
4 times
5 times

Detailed SolutionWhat is the stock

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turnover ratio when the opening stock is Rs. 50,000; closing stock is Rs. 60,000 and; and the cost of goods sold is Rs. 2,20,000?

12. Situation in which cost object has any job, customer or product is known as

cost application base
sale application base
price application base
direct application base

Detailed

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SolutionSituation in
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which cost object has any job, customer or product is known as

13. Fixed cost per unit increases when _______.

variable cost per unit increases
variable cost per unit decreases
production volume increases
production volume decreases

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increases when _______." class="read-more button" href="https://exam.pscnotes.com/mcq/fixed-cost-per-unit-increases-when-_______/#more-54040">Detailed SolutionFixed cost per unit increases when _______.

14. Under ABC method of material control, the material are classified according to __________.

its value
its usage
its nature
its availability

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button" href="https://exam.pscnotes.com/mcq/under-abc-method-of-material-control-the-material-are-classified-according-to-__________/#more-54035">Detailed SolutionUnder ABC method of material control, the material are classified according to __________.

15. Works cost is a total of . . . . . . . .

indirect material, indirect labour
direct material, direct labour, direct or chargeable expenses and works expenses
direct material, direct labour
indirect material, indirect labour, indirect expenses

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. . . . . . ." class="read-more button" href="https://exam.pscnotes.com/mcq/works-cost-is-a-total-of/#more-54032">Detailed SolutionWorks cost is a total of . . . . . . . .

16. Method, which considers cost and cost drivers of departments such as employee relations and process engineering is termed as

pricing method
manufacturing method
conference method
inference method

Detailed SolutionMethod, which considers cost and cost drivers of departments

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such as employee relations and process engineering is termed as

17. Method, which uses specific information on products as weights to allocate bundled revenues for each product in bundle is classified as

step down allocation method
stand-alone revenue allocation method
incremental revenue allocation method
revenue mix allocation method

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revenues for each product in bundle is classified as" class="read-more button" href="https://exam.pscnotes.com/mcq/method-which-uses-specific-information-on-products-as-weights-to-allocate-bundled-revenues-for-each-product-in-bundle-is-classified-as/#more-53983">Detailed SolutionMethod, which uses specific information on products as weights to allocate bundled revenues for each product in bundle is classified as

18. Total Labour cost variance =

Standard cost of labour - actual cost of labour
Standard rate (standard time for actual output - actual time worked)
Standard rate (standard time for actual output - actual time paid for)

Detailed SolutionTotal Labour cost variance =

19. If machine hours are 8000 and factory overhead absorption rate per machine hour is Rs. 8, then the absorbed factory overheads will be

Rs. 1,000
Rs. 8,000
Rs. 64,000
Rs. 7,992

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the absorbed factory overheads will be" class="read-more button" href="https://exam.pscnotes.com/mcq/if-machine-hours-are-8000-and-factory-overhead-absorption-rate-per-machine-hour-is-rs-8-then-the-absorbed-factory-overheads-will-be/#more-53964">Detailed SolutionIf machine hours are 8000 and factory overhead absorption rate per machine hour is Rs. 8, then the absorbed factory overheads will be

20. Focus on budget cost of all activities necessary to sell and produce market offerings is known as

cost based budgeting
activity based budgeting
production based budgeting
raw material budgeting

Detailed SolutionFocus on budget cost of all activities

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necessary to sell and produce market offerings is known as

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