Costing Archives

31. Which of following is an example of purchasing costs?

incoming freight

storage costs

insurance

spoilage

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32. Number of units are 5000 and per unit price is $60, then flexible budget variable would be

$5,000,000

$3,000,000

$2,000,000

$1,000,000

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units are 5000 and per unit price is $60, then flexible budget variable would be

33. Which of the following relate to measures of non-financial performance of a concern? 1. Customer satisfaction 2. Business process improvement 3. Economic value added 4. Learning organisation Select the correct answer

1, 2 and 4

2, 4 and 3

4, 1 and 3

All of these

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measures of non-financial performance of a concern? 1. Customer satisfaction 2. Business process improvement 3. Economic value added 4. Learning organisation Select the correct answer" class="read-more button" href="https://exam.pscnotes.com/mcq/which-of-the-following-relate-to-measures-of-non-financial-performance-of-a-concern-1-customer-satisfaction-2-business-process-improvement-3-economic-value-added-4-learning-organisation-select-th/#more-43109">Detailed Solution

34. Production units that do not meet customer specification, but can be sold to other customers as finished goods are classified as

reduced work

spoilage

rework

scrap

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35. Method which determines weights of cost allocation by considering cost of each user as separate entity is known as

bundled products allocation method

variable cost allocation method

stand-alone cost allocation method

incremental cost allocation method

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cost of each user as separate entity is known as" class="read-more button" href="https://exam.pscnotes.com/mcq/method-which-determines-weights-of-cost-allocation-by-considering-cost-of-each-user-as-separate-entity-is-known-as/#more-43097">Detailed Solution

36. Total cost is the combination of:

Cost of production, selling & distribution overhead

Factory overhead & administrative overhead

Prime cost & selling and distribution overhead

Prime cost and works cost

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37. Which of the following is usually as long-term budget?

Capital expenditure budget

Cash budget

Sales budget

None of these

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38. Cost accounting originated from-

To remove the shortcomings of financial accounting

To remove the shortcomings of managerial accounting

To overcome the shortcomings of standard costing

None of these

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