Costing

11. Third step in estimation of cost function, by using quantitative analysis is collection of data for

cost and cost object
price and cost driver
dependent variable and cost driver
independent variable and cost driver

Detailed SolutionThird step in estimation of cost function, by using quantitative analysis is collection of data for

12. Period costs charged to . . . . . . . .

cost of production
products
period
None of these

Detailed SolutionPeriod costs charged to . . . . . . . .

13. Match the List-I with the items of List-II relating to human resource planning activities, and indicate the correct matching. List-I List-II a. Forecasting 1. Optimal employment b. Inventorying 2. Development activities c. Anticipating manpower problems 3. Mathematical projections of industrial trend d. Planning programmes 4. Projecting present resources into future

a-2, b-1, c-4, d-3
a-1, b-4, c-3, d-2
a-4, b-2, c-1, d-3
a-3, b-1, c-4, d-2

Detailed SolutionMatch the List-I with the items of List-II relating to human resource planning activities, and indicate the correct matching. List-I List-II a. Forecasting 1. Optimal employment b. Inventorying 2. Development activities c. Anticipating manpower problems 3. Mathematical projections of industrial trend d. Planning programmes 4. Projecting present resources into future

14. Fixed cost per unit . . . . . . . . with increase in output.

increases
decreases
remains constant
increases at a decreasing rate E. increases proportionately

Detailed SolutionFixed cost per unit . . . . . . . . with increase in output.

15. The break-even point in umts is calculated using

fixed expenses and the contribution margin ratio
variable expenses and the contribution margin ratio
fixed expenses and the unit contribution margin
variable expenses and the unit contribution margin

Detailed SolutionThe break-even point in umts is calculated using

16. The sum of factory cost/work cost and administrative overheads is called

Factory cost
Production cost
Direct cost
None of these

Detailed SolutionThe sum of factory cost/work cost and administrative overheads is called

17. Function which is used to measure decline in per unit cost of different business functions is classified as

mixed curve
experience curve
discrete curve
fixed curve

Detailed SolutionFunction which is used to measure decline in per unit cost of different business functions is classified as

18. Prime cost includes _______.

direct materials, direct wages and indirect expenses
indirect materials and indirect labour and indirect expenses
direct materials, direct wages and direct expenses
direct materials, indirect wages and indirect expenses

Detailed SolutionPrime cost includes _______.

19. Recreation expenses in factory are apportioned on the basis of ________.

material cost
wages
prime cost
number of employees

Detailed SolutionRecreation expenses in factory are apportioned on the basis of ________.

20. “Calculate the value of closing stock from the following according to LIFO method: 1st January, 20XX: Opening balance: 50 units @ Rs 4 Receipts: 5th January, 20XX: 100 units @ Rs 5 12th January, 20XX: 200 units @ Rs 4.50 Issues: 2nd January, 20XX: 30 units 18th January, 20XX: 150 units”

Rs. 765
Rs. 805
Rs. 786
Rs. 700

Detailed Solution“Calculate the value of closing stock from the following according to LIFO method: 1st January, 20XX: Opening balance: 50 units @ Rs 4 Receipts: 5th January, 20XX: 100 units @ Rs 5 12th January, 20XX: 200 units @ Rs 4.50 Issues: 2nd January, 20XX: 30 units 18th January, 20XX: 150 units”

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