Costing Archives

11. Responsibility accounting aims at collecting and reporting costing information

Department-wise

Cost centre-wise

Function-wise

Product-wise

Detailed

Solution

12. Specific price method of valuing material issue is used when . . . . . . . .

materials are purchased for specific job or work order

materials are subject to natural wastage

prices fluctuate

None of these

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valuing material issue is used when . . . . . . . ." class="read-more button" href="https://exam.pscnotes.com/mcq/specific-price-method-of-valuing-material-issue-is-used-when/#more-53340">Detailed Solution

13. Match the group of List-I with those of List-II and choose the correct answer List-I List-II a. Direct wages 1. Factory expenditure b. Packing 2. Prime cost c. Depreciation 3. Sales cost d. Legal expenses 4. Office expenses

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

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

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

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

Detailed SolutionMatch the group of List-I with those

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of List-II and choose the correct answer List-I List-II a. Direct wages 1. Factory expenditure b. Packing 2. Prime cost c. Depreciation 3. Sales cost d. Legal expenses 4. Office expenses

14. Budgeted sales of X for March are 18000 units. At the end of the production process for X, 10% of production units are scrapped as defective. Opening inventories of X for March are budgeted to be 15000 units and closing inventories will be 11,400 units. All inventories of finished goods must have successfully passed the quality control check. The production budget for X for March, in units is:

12960

14400

15840

16000

Detailed SolutionBudgeted sales of X for March are 18000 units. At the end of the production process for X, 10% of production units are scrapped as defective. Opening inventories

of X for March are budgeted to be 15000 units and closing inventories will be 11,400 units. All inventories of finished goods must have successfully passed the quality control check. The production budget for X for March, in units is:

15. If sales budget variance is $57000 and flexible budget amount is $97000, then static budget amount will be

$40,000

$154,000

$164,000

$124,000

Detailed SolutionIf

sales budget variance is $57000 and flexible budget amount is $97000, then static budget amount will be

16. The process of comparing various financial factors of a company over a period of time is known as

Inter-firm comparison

Ratio analysis

Intra-firm comparison

Inter-industry comparison

Detailed SolutionThe process of comparing various

financial factors of a company over a period of time is known as

17. In service costing, fixed charges are also called as . . . . . . . .

standing charges

variable charges

fixed charges

None of these

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. . ." class="read-more button" href="https://exam.pscnotes.com/mcq/in-service-costing-fixed-charges-are-also-called-as/#more-53323">Detailed Solution

18. If budgeted annual indirect cost is $60000, budgeted annual quantity of cost allocation base is $3600, then budgeted indirect cost rate will be

15.67 per piece

16.67 per piece

14.67 per piece

13.67 per piece

Detailed SolutionIf budgeted annual indirect cost is $60000, budgeted annual quantity of cost allocation

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base is $3600, then budgeted indirect cost rate will be

19. For estimation of each cost pool for cost function, attention must be paid to

cost object hierarchy

management hierarchy

price hierarchy

cost hierarchy

Detailed SolutionFor estimation of

each cost pool for cost function, attention must be paid to

20. A cost unit is ________.

the cost per machine hour

the cost per labour hour

a unit of production or service in relation to which costs are ascertained

a measure of work output in a standard hour

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288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube cost unit is ________." class="read-more button" href="https://exam.pscnotes.com/mcq/a-cost-unit-is-________/#more-53263">Detailed Solution

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