Costing
nominal a/c
a real a/c
personal a/c
either nominal or real a/c
Answer is Wrong!
Answer is Right!
22. Input is 10,000 units and normal loss is 20% of input and abnormal loss is 400 units What is actual output?
7600 units
10,000 units
10, 400 units
12,000 units
Answer is Wrong!
Answer is Right!
23. Which of the following is an abnormal cause of Idle time:
Time taken by workers to travel the distance between the main gate of factory and place of their work
Time lost between the finish of one job and starting of next job
Time spent to meet their personal needs like taking lunch, tea etc
Machine break downs
Answer is Wrong!
Answer is Right!
Detailed SolutionWhich of the following is an abnormal cause of Idle time:
24. If number of units are 3000 and per unit price is $500, then flexible budget variable will be
$1,500,000
$2,500,000
$3,500,000
$4,500,000
Answer is Wrong!
Answer is Right!
25. Budgeted direct labour hours are multiplied to direct labour cost rate to calculate
expected total direct labour cost
budgeted total direct labour cost
budgeted total indirect labour cost
expected labour hours
Answer is Wrong!
Answer is Right!
Detailed SolutionBudgeted direct labour hours are multiplied to direct labour cost rate to calculate
26. . . . . . . . . expenses are excluded from cost.
Normal
Abnormal
Both A and B
None of these
Answer is Wrong!
Answer is Right!
Detailed Solution. . . . . . . . expenses are excluded from cost.
27. Wages paid to a labour who was engaged in production activities can be termed as _______.
direct cost
indirect cost
sunk cost
imputed cost
Answer is Wrong!
Answer is Right!
28. When the actual loss is more than the estimated loss, the difference between the two is considered to be . . . . . . . .
abnormal loss
normal loss
loss
None of these
Answer is Wrong!
Answer is Right!
29. Cost plus contract is useful for-
Contractor
Contractee
Both A and B
None of these
Answer is Wrong!
Answer is Right!
30. Assertion (A): A high operating ratio indicates a favourable position. Reason (R): A high operating ratio leaves a high margin to meet non-operating expenses.
Both (A) and (R) are correct, and (R) correctly explains (A)
Both (A) and (R) are correct, but (R) does not explain (A)
Both (A)and (R) are incorrect
(A) is correct, but (R) is incorrect
Answer is Wrong!
Answer is Right!