[amp_mcq option1=”bill of materials” option2=”bill of sequence” option3=”bill of detail” option4=”bill of raw materials” correct=”option1″]
Costing
12. Cost of previous department is a part of
[amp_mcq option1=”transferred-in costs” option2=”transferred-out costs” option3=”FIFO costs” option4=”LIFO costs” correct=”option1″]
13. Cash from operation is equal to
[amp_mcq option1=”net profit plus decrease in current assets” option2=”net profit plus increase in current assets” option3=”net profit minus decrease in current assets” option4=”None of the above” correct=”option4″]
14. In an activity based costing implementation, product’s diverse demand is based on
[amp_mcq option1=”batch size” option2=”complexity” option3=”process steps” option4=”all of above” correct=”option4″]
Detailed SolutionIn an activity based costing implementation, product’s diverse demand is based on
15. “Process B had no opening inventory. 13,500 units of raw material were transferred in at Rs 4.50 per unit. Additional material at Rs1.25per unit was added in process. Labour and overheads were Rs 6.25 per completed unit and Rs 2.50 per unit incomplete. If 11,750completed units were transferred out, what was the closing inventory in Process B?”
[amp_mcq option1=”Rs 6562.50″ option2=”Rs 12,250.00″ option3=”Rs 14,437.50″ option4=”Rs 25,375.00″ correct=”option1″]
16. Direct material cost is $75000 and direct manufacturing labour is $20000, then prime cost would be
[amp_mcq option1=”$55,000″ option2=”$37,500″ option3=”$95,000″ option4=”$26,000″ correct=”option3″]
17. An amount of spoilage that is not natural in a specific production process is categorized as
[amp_mcq option1=”normal scrap” option2=”normal spoilage” option3=”abnormal spoilage” option4=”weighted spoilage” correct=”option3″]
18. Budgeted total cost in indirect cost pool is divided by budgeted total quantity of cost allocation base is to calculate by
[amp_mcq option1=”budgeted direct cost rate” option2=”budgeted indirect cost rate” option3=”expected indirect cost rate” option4=”direct budget percentage” correct=”option2″]
19. Those cost which is incurred to prevent the labour turnover __________.
[amp_mcq option1=”management cost” option2=”replacement cost” option3=”preventive cost” option4=”compensation cost” correct=”option3″]
Detailed SolutionThose cost which is incurred to prevent the labour turnover __________.
20. Cost which is related to specific cost object and cannot be economically traceable is classified as
[amp_mcq option1=”line cost” option2=”staff cost” option3=”direct cost” option4=”indirect cost” correct=”option4″]