Costing

[amp_mcq option1=”Rs 32,000″ option2=”Rs 40,000″ option3=”Rs 48,000″ option4=”Rs 54,000″ correct=”option1″]

Detailed SolutionCost of process Rs1,60,000 and profit to be charged on the transfer price is 20% What is the inter process profit?

[amp_mcq option1=”Direct material + Direct labor + Direct expenses” option2=”Direct material + Indirect matrerial + Indirect labour” option3=”Direct labour + Indirect labour + Direct expenses” option4=”None of these” correct=”option1″]

Detailed SolutionBasic cost is made up of

[amp_mcq option1=”weighted average method” option2=”net present value method” option3=”Gross production method” option4=”net present value method” correct=”option1″]

Detailed SolutionCosting method, which calculates per equivalent unit cost of all production related work done till calculate date is termed as

[amp_mcq option1=”related total costs” option2=”related fixed cost” option3=”related variable cost” option4=”related per unit cost” correct=”option3″]

Detailed SolutionIn estimation of cost functions, variations in a single activity level represents the

[amp_mcq option1=”insufficient advertising” option2=”restrictions imposed by quota” option3=”low market demand” option4=”shortage of power” correct=”option4″]

Detailed SolutionIn case of materials the key factor may be.

[amp_mcq option1=”Rs 5,000″ option2=”Rs 55,000″ option3=”Rs 15,000″ option4=”Rs 65,000″ correct=”option3″]

Detailed SolutionThe summarized balance sheet of Autolight Limited shows the balances of previous and current year of retained earnings Rs 25,000 and Rs 35,000. If dividend paid during the current year amounted to Rs 5,000 then profit earned during the year will be:

[amp_mcq option1=”cash budget” option2=”master budget” option3=”budget for the key factor” option4=”sales budget” correct=”option4″]

Detailed SolutionThe budget that is prepared first of all is . . . . . . . .

[amp_mcq option1=”Cost price” option2=”Market value” option3=”Cost price or market price, whichever is less” option4=”Cost price or market price, whichever is higher” correct=”option3″]

Detailed SolutionAt what value is the closing stock valued Or Stock is valued on

[amp_mcq option1=”information accounting” option2=”cost accounting” option3=”analyzing accounts” option4=”marketing costs” correct=”option2″]

Detailed SolutionCalculation of product cost, gathering information for planning and analyzing information for decisions making are features of

[amp_mcq option1=”8,788 units” option2=”11,600 units” option3=”11,885 units” option4=”12,397 units” correct=”option2″]

Detailed Solution“It is now expected that the variable production cost per unit and the selling price per unit will each increase by 10%, and fixed production cost will rise by 25%. What will be the new break even point? Selling price – Rs 6 per unit Variable production cost – Rs 1.20 per unit Variable selling cost – Rs 0.40 per unit Fixed production cost – Rs 4 per unit Fixed selling cost – Rs 0.80 per unit Budgeted production and sales for the year are 10,000 units. “