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21. . . . . . . . . is the consolidated summary of the various functional budgets.

Master budget

Sales budget

Performance budget

Cash budget

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22. Which of the following is an example of semi-variable cost?

Salary

Tax

Telephone expenses

Office expenses

Detailed

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23. Which one of the following is not considered for preparation of cost sheet?

Factory cost

Goodwill written off

Labour cost

Selling cost

Detailed SolutionWhich one

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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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25. starting point in operating budget is

cost budget

material list

revenue budget

list of investors

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26. Fifth step in quantitative analysis of estimating cost function is to

estimate cost function

estimate price function

estimate supply function

estimate demand function

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27. The margin of safety is calculated by using

$$rac{{{ ext{Profit}}}}{{rac{{ ext{P}}}{{ ext{V}}}{ ext{ratio}}}}$$

$$rac{{{ ext{Fixed Cost}}}}{{{ ext{Contribution}}}}$$

$$rac{{{ ext{Break Even Sales}}}}{{{ ext{Sales}}}}$$

$$rac{{{ ext{Profit}}}}{{{ ext{Sales}}}}$$

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