Costing
Cost of production
Purchase
Sales
Cash
Answer is Right!
Answer is Wrong!
12. An average unit cost, applicable to each similar produced units is classified as
per unit cost
per post cost
per price cost
application cost
Answer is Right!
Answer is Wrong!
Detailed SolutionAn average unit cost, applicable to each similar produced units is classified as
13. Salary paid to general manager is an item of . . . . . . . . expenses.
fixed
variable
semi-variable
estimated
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Answer is Wrong!
Detailed SolutionSalary paid to general manager is an item of . . . . . . . . expenses.
14. . . . . . . . . is the amount by which the absorbed overheads fall short of the actual amount of overheads incurred.
Over absorption of overheads
Under absorption of overheads
Overheads absorption
None of these
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Answer is Wrong!
15. Cost function, in which graph of total cost would not result in straight line is classified as
nonlinear cost function
linear cost function
linear price function
nonlinear price function
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Answer is Wrong!
16. A process costing system for J Co used an input of 3,500Kg of materials at Rs20 per Kg and labour hours of 2,750 at Rs 25 per hour. Normal loss is 20% and losses can be sold at a scrap value of Rs5 per Kg. Output was 2,950 Kg. What is the value of the output?
Rs 142,485
Rs 146,183
Rs 149,746
Rs 152,986
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Answer is Wrong!
17. In process costing method, when work done in current accounting period and beginning inventory before current accounting period, is classified as
partial inventory costing method
current period inventory method
Last-in, first-out method
First-in, first-out method
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Answer is Wrong!
18. An act of making sure, that all employees must understand goals is classified as
coordination
communication
annual profit plan
budgeting
Answer is Right!
Answer is Wrong!
Detailed SolutionAn act of making sure, that all employees must understand goals is classified as
19. “Calculate the value of closing stock from the following according to Weighted Average method: 1st January, 20XX: Opening balance: 50 units @ Rs 4 Receipts: 5th January, 20XX: 100 units @ Rs 5 12th January, 20XX: 200 units @ Rs 450 Issues: 2nd January, 20XX: 30 units 18th January, 20XX: 150 units”
Rs. 765
Rs. 805
Rs. 786
Rs. 700
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Answer is Wrong!
20. Piece workers are paid on the basis of ________.
output sold
output produced
output in stock
input received
Answer is Right!
Answer is Wrong!
Detailed SolutionPiece workers are paid on the basis of ________.