Costing Archives - Page 23 of 116 - MCQ and Quiz for Exams

221. . . . . . . . . is the consolidated summary of the various functional budgets.

Master budget

Sales budget

Performance budget

Cash budget

Detailed Solution. . . . . . . . is the consolidated summary of the various functional budgets.

222. Which of the following is an example of semi-variable cost?

Salary

Tax

Telephone expenses

Office expenses

Detailed SolutionWhich of the following is an example of semi-variable cost?

223. Which one of the following is not considered for preparation of cost sheet?

Factory cost

Goodwill written off

Labour cost

Selling cost

Detailed SolutionWhich one of the following is not considered for preparation of cost sheet?

224. In an activity based costing implementation, product’s diverse demand is based on

batch size

complexity

process steps

All of these

Detailed SolutionIn an activity based costing implementation, product’s diverse demand is based on

225. starting point in operating budget is

cost budget

material list

revenue budget

list of investors

Detailed Solutionstarting point in operating budget is

226. Fifth step in quantitative analysis of estimating cost function is to

estimate cost function

estimate price function

estimate supply function

estimate demand function

Detailed SolutionFifth step in quantitative analysis of estimating cost function is to

227. The margin of safety is calculated by using

$$rac{{{ ext{Profit}}}}{{rac{{ ext{P}}}{{ ext{V}}}{ ext{ratio}}}}$$

$$rac{{{ ext{Fixed Cost}}}}{{{ ext{Contribution}}}}$$

$$rac{{{ ext{Break Even Sales}}}}{{{ ext{Sales}}}}$$

$$rac{{{ ext{Profit}}}}{{{ ext{Sales}}}}$$

Detailed SolutionThe margin of safety is calculated by using

228. Portion of labour costvariance which is due to the difference between predetermined working days and actual working days is

labour idle time variance

labour calender variance

labour rate variance

labour efficiency variance

Detailed SolutionPortion of labour costvariance which is due to the difference between predetermined working days and actual working days is

229. The use of LIFO method is suitable when prices are:

Falling

Rising

Constant

In all of the above conditions

Detailed SolutionThe use of LIFO method is suitable when prices are:

230. Second step for estimation of cost function by using quantitative analysis is to

choose independent variable

choose cost estimation method

choose price estimation method

choose dependent variable

Detailed SolutionSecond step for estimation of cost function by using quantitative analysis is to

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