Costing

[amp_mcq option1=”cost per good units transferred out” option2=”cost per good units transferred in” option3=”revenue per good units transferred out” option4=”revenue per good units transferred in” correct=”option1″]

Detailed SolutionTotal transferred-out cost plus normal spoilage is divided by number of goods units produced to calculate

[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=”option3″]

Detailed SolutionActivity Ratio =

[amp_mcq option1=”Budgeted labour costs – Actual labour costs” option2=”(Standard hours – Actual hours) × Actual wage rate” option3=”(Standard wage rate – Actual wage rate) × Actual hours worked” option4=”(Standard wage rate – Actual wage rate) × Standard hours worked” correct=”option3″]

Detailed SolutionThe labour rate of pay variance can be calculated by which of the following equations?

[amp_mcq option1=”constant” option2=”variable” option3=”expression” option4=”base and exponent” correct=”option1″]

Detailed SolutionIn regression equation Y = $6000 + (per unit cost x number of units), ‘$6000’ is a

[amp_mcq option1=”FIFO” option2=”LIFO” option3=”Weighted Average” option4=”EOQ” correct=”option4″]

Detailed SolutionWhich one out of the following is not an inventory valuation method?

[amp_mcq option1=”badness of residual” option2=”goodness of residual” option3=”badness of fit” option4=”goodness of fit” correct=”option4″]

Detailed SolutionStrength of relationship between cost driver and cost is considered as

[amp_mcq option1=”2, 4, 3 and 1″ option2=”1, 2, 4 and 3″ option3=”4, 2, 3 and 1″ option4=”3, 4, 1 and 2″ correct=”option2″]

Detailed SolutionConsider the following. 1. Basic defensive and interval ratio 2. Current ratio 3. Super quick ratio 4. Quick ratio Arrange these ratios in sequence to reflect the liquidity in descending order.

[amp_mcq option1=”strategic implementation” option2=”proper implementation” option3=”performance evaluation” option4=”well evaluated” correct=”option3″]

Detailed SolutionVariance used by managers to check whether company has performed well and properly implemented strategies is considered as

[amp_mcq option1=”Inventory Management” option2=”Receivables Management” option3=”Cash Management” option4=”Ratio Analysis” correct=”option1″]

Detailed Solution‘EOQ’ is used in:

[amp_mcq option1=”Small number of items with large rupee investment” option2=”Large number of items with large rupee investment” option3=”Large number of items with small money investment” option4=”Very high quality items” correct=”option1″]

Detailed SolutionA group items in ABC system of inventory control are