Costing

11. What is the stock turnover ratio when the opening stock is Rs. 50,000; closing stock is Rs. 60,000 and; and the cost of goods sold is Rs. 2,20,000?

2 times
3 times
4 times
5 times

Detailed SolutionWhat is the stock turnover

Join Our Telegram Channel
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

ratio when the opening stock is Rs. 50,000; closing stock is Rs. 60,000 and; and the cost of goods sold is Rs. 2,20,000?

12. Situation in which cost object has any job, customer or product is known as

cost application base
sale application base
price application base
direct application base

Join Our Telegram Channel

d="M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 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
job, customer or product is known as" class="read-more button" href="https://exam.pscnotes.com/mcq/situation-in-which-cost-object-has-any-job-customer-or-product-is-known-as/#more-54052">Detailed SolutionSituation in which cost object has any job, customer or product is known as

13. Fixed cost per unit increases when _______.

variable cost per unit increases
variable cost per unit decreases
production volume increases
production volume decreases

Join Our Telegram Channel
Subscribe on YouTube

increases when _______." class="read-more button" href="https://exam.pscnotes.com/mcq/fixed-cost-per-unit-increases-when-_______/#more-54040">Detailed SolutionFixed cost per unit increases when _______.

14. Under ABC method of material control, the material are classified according to __________.

its value
its usage
its nature
its availability

Join Our Telegram Channel
Subscribe on YouTube

button" href="https://exam.pscnotes.com/mcq/under-abc-method-of-material-control-the-material-are-classified-according-to-__________/#more-54035">Detailed SolutionUnder ABC method of material control, the material are classified according to __________.

15. Works cost is a total of . . . . . . . .

indirect material, indirect labour
direct material, direct labour, direct or chargeable expenses and works expenses
direct material, direct labour
indirect material, indirect labour, indirect expenses

Detailed Solution Join Our Telegram Channel

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 class="screen-reader-text">Works cost is a total of . . . . . . . .

16. Method, which considers cost and cost drivers of departments such as employee relations and process engineering is termed as

pricing method
manufacturing method
conference method
inference method

Detailed SolutionMethod,

Join Our Telegram Channel
Subscribe on YouTube
which considers cost and cost drivers of departments such as employee relations and process engineering is termed as

17. Method, which uses specific information on products as weights to allocate bundled revenues for each product in bundle is classified as

step down allocation method
stand-alone revenue allocation method
incremental revenue allocation method
revenue mix allocation method

Join Our Telegram Channel
Subscribe on YouTube

product in bundle is classified as" class="read-more button" href="https://exam.pscnotes.com/mcq/method-which-uses-specific-information-on-products-as-weights-to-allocate-bundled-revenues-for-each-product-in-bundle-is-classified-as/#more-53983">Detailed SolutionMethod, which uses specific information on products as weights to allocate bundled revenues for each product in bundle is classified as

18. Total Labour cost variance =

Standard cost of labour - actual cost of labour
Standard rate (standard time for actual output - actual time worked)
Standard rate (standard time for actual output - actual time paid for)

Detailed SolutionTotal Labour cost variance =

19. If machine hours are 8000 and factory overhead absorption rate per machine hour is Rs. 8, then the absorbed factory overheads will be

Rs. 1,000
Rs. 8,000
Rs. 64,000
Rs. 7,992

Detailed SolutionIf machine hours are 8000 and factory overhead absorption

Join Our Telegram Channel
81.2-142.7 81.2z"/> Subscribe on YouTube

rate per machine hour is Rs. 8, then the absorbed factory overheads will be

20. Focus on budget cost of all activities necessary to sell and produce market offerings is known as

cost based budgeting
activity based budgeting
production based budgeting
raw material budgeting

Join Our Telegram Channel
Subscribe on YouTube

to sell and produce market offerings is known as" class="read-more button" href="https://exam.pscnotes.com/mcq/focus-on-budget-cost-of-all-activities-necessary-to-sell-and-produce-market-offerings-is-known-as/#more-53953">Detailed SolutionFocus on budget cost of all activities necessary to sell and produce market offerings is known as
Page 1Page 2Page 3Page 4Page 5
Test 1Test 2Test 3Test 4Test 5Test 6Test 7Test 8Test 9Test 10Test 11Test 12Test 13Test 14Test 15Test 16Test 17Test 18Test 19Test 20Test 21Test 22Test 23Test 24
Exit mobile version