Costing Archives

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

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

cost of production

products

period

None of these

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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

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

increases

decreases

remains constant

increases at a decreasing rate E. increases proportionately

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. . . . . . with increase in output." class="read-more button" href="https://exam.pscnotes.com/mcq/fixed-cost-per-unit-with-increase-in-output/#more-54661">Detailed Solution

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

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

Factory cost

Production cost

Direct cost

None of these

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class="youtube-subscribe-button"> Subscribe on YouTube href="https://exam.pscnotes.com/mcq/the-sum-of-factory-cost-work-cost-and-administrative-overheads-is-called/#more-54631">Detailed Solution

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

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

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, 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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