Detailed Solution. . . . . . . . is the consolidated summary of the various functional budgets.
Costing
Master budget
Sales budget
Performance budget
Cash budget
Answer is Wrong!
Answer is Right!
22. Which of the following is an example of semi-variable cost?
Salary
Tax
Telephone expenses
Office expenses
Answer is Wrong!
Answer is Right!
Detailed SolutionWhich of the following is an example of semi-variable cost?
23. Which one of the following is not considered for preparation of cost sheet?
Factory cost
Goodwill written off
Labour cost
Selling cost
Answer is Wrong!
Answer is Right!
Detailed SolutionWhich one of the following is not considered for preparation of cost sheet?
24. In an activity based costing implementation, product’s diverse demand is based on
batch size
complexity
process steps
All of these
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Answer is Right!
Detailed SolutionIn an activity based costing implementation, product’s diverse demand is based on
25. starting point in operating budget is
cost budget
material list
revenue budget
list of investors
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Answer is Right!
26. Fifth step in quantitative analysis of estimating cost function is to
estimate cost function
estimate price function
estimate supply function
estimate demand function
Answer is Wrong!
Answer is Right!
Detailed SolutionFifth step in quantitative analysis of estimating cost function is to
27. The margin of safety is calculated by using
$$rac{{{ ext{Profit}}}}{{rac{{ ext{P}}}{{ ext{V}}}{ ext{ratio}}}}$$
$$rac{{{ ext{Fixed Cost}}}}{{{ ext{Contribution}}}}$$
$$rac{{{ ext{Break Even Sales}}}}{{{ ext{Sales}}}}$$
$$rac{{{ ext{Profit}}}}{{{ ext{Sales}}}}$$
Answer is Wrong!
Answer is Right!
Detailed SolutionThe margin of safety is calculated by using
28. Portion of labour costvariance which is due to the difference between predetermined working days and actual working days is
labour idle time variance
labour calender variance
labour rate variance
labour efficiency variance
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Answer is Right!
29. The use of LIFO method is suitable when prices are:
Falling
Rising
Constant
In all of the above conditions
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Answer is Right!
Detailed SolutionThe use of LIFO method is suitable when prices are:
30. Second step for estimation of cost function by using quantitative analysis is to
choose independent variable
choose cost estimation method
choose price estimation method
choose dependent variable
Answer is Wrong!
Answer is Right!
Detailed SolutionSecond step for estimation of cost function by using quantitative analysis is to