Costing

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

Detailed SolutionAverage method of pricing the material issues is useful when ___________.

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

Detailed SolutionType of plan of a company, which quantities expectations of cash flows, income and financial position is known as

[amp_mcq option1=”Cost accountant” option2=”Clerk” option3=”Storekeeper” option4=”Branch accountant” correct=”option3″]

Detailed SolutionBin card is maintained by the . . . . . . . .

[amp_mcq option1=”$803.571 per labour hour” option2=”$805 per labour hour” option3=”$905 per labour hour” option4=”$802 per labour hour” correct=”option1″]

Detailed SolutionIf budgeted annual manufacturing indirect cost is $2250000 and cost allocation base is 2800 labour hour, then budgeted manufacturing overhead rate will be

[amp_mcq option1=”two types” option2=”three types” option3=”four types” option4=”five types” correct=”option1″]

Detailed SolutionGenerally types of stores are classified into ________.

[amp_mcq option1=”69.72%” option2=”79.72%” option3=”99.75%” option4=”89.72%” correct=”option1″]

Detailed SolutionIf budgeted cost in indirect cost pool is $139600 and total quantity of cost allocation base is $155600, then budgeted indirect cost rate would be

[amp_mcq option1=”Standard costing is a system where predetermined costs are used for control of entire organisation” option2=”Standard may be expressed in quantitative and monetary measures” option3=”Only adverse variances are investigated intensively” option4=”Standard is determined for each element of cost” correct=”option3″]

Detailed SolutionWhich one of the following is not correct with reference to standard costing?

[amp_mcq option1=”a-1, b-2, c-3, d-4″ option2=”a-4, b-3, c-2, d-1″ option3=”a-4, b-1, c-2, d-3″ option4=”a-4, b-2, c-1, d-3″ correct=”option1″]

Detailed SolutionThe debt-equity ratio of a company is 2 : 1. In this relation, match the following. List-I List-II a. Issue of equity shares 1. No change on the ratio b. Cash received from debtors 2. Reduce the ratio c. Redemption of debentures 3. No change on the ratio d. Purchased goods on credit 4. Reduce the ratio

[amp_mcq option1=”non expression” option2=”non constant” option3=”objective” option4=”non objective” correct=”option3″]

Detailed SolutionWhich one of following is main advantage of quantitative method?

[amp_mcq option1=”Financing activities” option2=”Operating activities” option3=”Funding activities” option4=”Investing activities” correct=”option3″]

Detailed SolutionWhich of the following is not an activity listed in the statement of cash flows?