Costing

[amp_mcq option1=”sales department” option2=”investing center” option3=”marketing department” option4=”segment department” correct=”option1″]

Detailed SolutionWhich of following is an example of revenue center?

[amp_mcq option1=”over allocated budget” option2=”under allocated budget” option3=”under allocated indirect cost” option4=”over allocated direct cost” correct=”option3″]

Detailed SolutionCosting and allocating situation, in which indirect cost allocated amount is less than actually incurred amount is known as

[amp_mcq option1=”$60″ option2=”$90″ option3=”$80″ option4=”$70″ correct=”option3″]

Detailed SolutionIf an actual manufacturing overhead costs is $225000 and actual total quantity of cost allocation base is 2500 labour hours, then overhead rate will be

[amp_mcq option1=”material prices are rising” option2=”material prices are falling” option3=”material prices are constant” option4=”material prices are fluctuating” correct=”option4″]

Detailed SolutionLIFO method of pricing of materials is more suitable when _________.

[amp_mcq option1=”manufacturing overhead allocated” option2=”cost overhead applied” option3=”manufacturing overhead applied” option4=”both A and C” correct=”option4″]

Detailed SolutionManufacturing overhead cost allocated to individual jobs is classified as

[amp_mcq option1=”making a time series of various ratio to assess the firm’s profitability” option2=”a graphical comparison of the firm’s sources of finance” option3=”the comparison of financial ratios over a period of time to access the direction of change and the financial performance of the firm” option4=”a comparison of time values for various ratios of the firm” correct=”option3″]

Detailed SolutionIn ratio analysis, ‘time series analysis’ refers to

[amp_mcq option1=”nil” option2=”20%” option3=”25%” option4=”75%” correct=”option1″]

Detailed SolutionProfit to be transferred to profit and loss a/c, if the contract is complete to the extent of only 20% is ________.

[amp_mcq option1=”complexity” option2=”process” option3=”budget” option4=”batching” correct=”option3″]

Detailed SolutionNon-financial and financial aspects of plan by company management, is classified as

[amp_mcq option1=”direct manufacturing labour costs” option2=”indirect manufacturing labour costs” option3=”work in process cost” option4=”finished costs” correct=”option1″]

Detailed SolutionLabour related to manufacturing of product can be classified under

[amp_mcq option1=”average of coefficient” option2=”variance of residual” option3=”mean of residual” option4=”average of residual” correct=”option2″]

Detailed SolutionStandard error of regression analysis is known as