Costing

[amp_mcq option1=”Job costing” option2=”Contract costing” option3=”Process costing” option4=”Specific order costing” correct=”option1″]

Detailed SolutionWhich method of costing can be used in furniture manufacture industry?

[amp_mcq option1=”cumulative average time learning model” option2=”incremental unit time learning model” option3=”incremental production learning model” option4=”both a and b” correct=”option4″]

Detailed SolutionLearning curve models include

[amp_mcq option1=”manufacturing cost” option2=”administrative cost” option3=”selling cost” option4=”distribution cost” correct=”option1″]

Detailed SolutionDirect material is a ________.

[amp_mcq option1=”57″ option2=”43″ option3=”67″ option4=”47″ correct=”option3″]

Detailed SolutionIn regression analysis, if observed cost value is 50 and predicted cost value is 7, then disturbance term will be

[amp_mcq option1=”selling time record” option2=”labour time record” option3=”buying time record” option4=”direct time record” correct=”option2″]

Detailed SolutionA document which consists information about labour time usage, for specific job in a specific department, is known as

[amp_mcq option1=”$7,500″ option2=”$7,000″ option3=”$6,500″ option4=”$6,000″ correct=”option1″]

Detailed SolutionIf relevant incremental costs are $5000 and relevant opportunity cost of invested capital is $2500, then relevant inventory carrying costs would be

[amp_mcq option1=”25%” option2=”30%” option3=”60%” option4=”75%” correct=”option1″]

Detailed SolutionFactory overhead is Rs 3,00,000 and direct material cost is Rs 5,00,000 What is the overhead rate under direct material cost method?

[amp_mcq option1=”Pure ratio” option2=”Percentage” option3=”Rate or time” option4=”Either of the above” correct=”option4″]

Detailed SolutionThe relationship between two financial variables can be expressed in

[amp_mcq option1=”decreases costing profit” option2=”decreases financial accounts profit” option3=”increases costing profit” option4=”increases financial accounts profit” correct=”option1″]

Detailed SolutionOvervaluation of opening stock in financial accounting results ________.

[amp_mcq option1=”cost slack” option2=”target slack” option3=”budgetary slack” option4=”revenue slack” correct=”option2″]

Detailed SolutionPractice, which makes target more achievable by underestimating revenues or overestimating cost is called