Costing
unadjusted budget rate approach
adjusted allocation rate approach
unadjusted allocation rate approach
adjusted budget rate approach
Answer is Right!
Answer is Wrong!
22. In the case of plant, the limiting factor may be:
insufficient capacity
shortage of experienced salesmen
general shortage of power
shortage of materials
Answer is Right!
Answer is Wrong!
Detailed SolutionIn the case of plant, the limiting factor may be:
23. In a machine dominated industry which method of overhead absorption is suitable?
Direct material cost method
Prime cost method
Labour hour method
Machine hour method
Answer is Right!
Answer is Wrong!
Detailed SolutionIn a machine dominated industry which method of overhead absorption is suitable?
24. Match the following. List-I List-II a. Statement of changes in working capital 1. Cash flow statement b. Deferred tax 2. Fixed assets c. Three activities 3. Fund flow statement d. Impairment loss 4. Balance sheet
a-1, b-2, c-3, d-4
a-3, b-4, c-2, d-1
a-3, b-4, c-1, d-2
a-4, b-3, c-1, d-2
Answer is Right!
Answer is Wrong!
25. In inter process profits, the output of one process is transferred from one process to another not at . . . . . . . . but at . . . . . . . .
market price, actual cost
actual cost, market price
Both A and B
None of these
Answer is Right!
Answer is Wrong!
26. In an activity based cost system; an activity/unit of work or task with differentiated purposes will be classified as
different task
purpose cost
an activity
an allocation cost
Answer is Right!
Answer is Wrong!
27. A variable such as activity that causes cost over a given time is
cost driver
cost behaviour
cost centre
None of these
Answer is Right!
Answer is Wrong!
Detailed SolutionA variable such as activity that causes cost over a given time is
28. Approaches used to allocate joint costs include
sales value at split off method
net realizable value method
constant gross margin percentage NRV method
all of above
Answer is Right!
Answer is Wrong!
Detailed SolutionApproaches used to allocate joint costs include
29. Factor used to predict dependent variable is named as
independent variable
function variable
evaluation variable
estimation variable
Answer is Right!
Answer is Wrong!
Detailed SolutionFactor used to predict dependent variable is named as
30. Match the items of List-I with the items of List-II and choose the correct answer. List-I (Critical Control Standards) List-II (Critical Points) a. Physical standards 1. Material cost per unit b. Cost standards 2. Labour hours per unit of output c. Revenue standards 3. Timing of production d. Programme standards 4. Average sales per customer
a-2, b-1, c-4, d-3
a-2, b-1, c-3, d-4
a-1, b-2, c-4, d-3
a-4, b-1, c-3, d-2
Answer is Right!
Answer is Wrong!