Costing

[amp_mcq option1=”maximum stock level” option2=”minimum stock level” option3=”reorder level” option4=”average stock level” correct=”option3″]

Detailed SolutionThis is a point at which the store keeper should initiate purchase requisition for fresh supply It is ________.

[amp_mcq option1=”Costing profit” option2=”Financial profit” option3=”Process profit” option4=”cost of Good units” correct=”option4″]

Detailed SolutionWhich of the following will be affected by normal loss?

[amp_mcq option1=”$$\frac{{{\text{Number of actual working days in a period}}}}{{{\text{Number of working days in the budget period}}}} \times 100$$” option2=”$$\frac{{{\text{Actual hours worked}}}}{{{\text{Budgeted hours}}}} \times 100$$” option3=”$$\frac{{{\text{Standard hours for actual production}}}}{{{\text{Actual hours worked}}}} \times 100$$” option4=”$$\frac{{{\text{Standard hours for actual production}}}}{{{\text{Budgeted standard hours}}}} \times 100$$” correct=”option4″]

Detailed SolutionCapacity Ratio =

[amp_mcq option1=”Flat time rate” option2=”High day rate” option3=”Measured day rate” option4=”Graduated time rate” correct=”option4″]

Detailed SolutionUnder which method the rate of wages are linked with the cost of living index?

[amp_mcq option1=”Cash budget” option2=”Capital expenditure budget” option3=”Research and development budget” option4=”Both B and C” correct=”option4″]

Detailed Solution. . . . . . . . is an example of long-term budget.

[amp_mcq option1=”price index” option2=”cost index” option3=”profit index” option4=”cost driver index” correct=”option1″]

Detailed SolutionIn cause and effect relationship between cost level and cost driver, inflationary price effects are removed by dividing cost through

[amp_mcq option1=”factory overhead costs” option2=”manufacturing overhead costs” option3=”Inventoriable costs” option4=”finished costs” correct=”option3″]

Detailed SolutionBalance sheet, in which all costs of product that must be considered as its assets, is said to be

[amp_mcq option1=”ordering quantity” option2=”commercial order quantity” option3=”economic order quantity” option4=”None of these” correct=”option3″]

Detailed SolutionThe quantity of material to be ordered at one time is known as . . . . . . . . .

[amp_mcq option1=”joint products value at split off method” option2=”main product cost at split off method” option3=”Gross realizable value method” option4=”net realizable value method” correct=”option3″]

Detailed SolutionJoint cost allocation method for joint products, which is based on achievable value is known as

[amp_mcq option1=”can not” option2=”can” option3=”may or may not” option4=”must” correct=”option2″]

Detailed SolutionUncontrollable costs are the costs which be influenced by the action of a specified member of an undertaking.