Costing

[amp_mcq option1=”material requisition” option2=”bill of materials” option3=”Both A and B” option4=”None of these” correct=”option1″]

Detailed SolutionMaterial should be issued by the store keeper against . . . . . . . .

[amp_mcq option1=”Difference” option2=”Variance” option3=”Discrepancy” option4=”Inconsistency” correct=”option3″]

Detailed SolutionThe deviation of the actual cost or profit or sales from the standard cost or profit or sale is known as . . . . . . . .

[amp_mcq option1=”1.4 times” option2=”2.4 times” option3=”1.2 times” option4=”3.4 times” correct=”option1″]

Detailed SolutionX Ltd has a liquid ratio of 2 : 1. If its stock is Rs. 40,000, and its current liabilities are of Rs. 1,00,000, its current ratio will be

[amp_mcq option1=”Factory cost – Prime cost” option2=”Factory cost + Prime cost” option3=”Prime cost + Direct cost” option4=”Factory cost + Direct expenses” correct=”option4″]

Detailed SolutionWhich of the following would have been equal to factory overhead?

[amp_mcq option1=”efficient order quantity” option2=”economic order quantity” option3=”rational order quantity” option4=”optimized order quantity” correct=”option1″]

Detailed SolutionDecision model to calculate optimal quantity of inventory to be ordered is called

[amp_mcq option1=”d-value” option2=”c-value” option3=”t-value” option4=”b-value” correct=”option4″]

Detailed SolutionFor slope coefficient b, value of estimated coefficient is considered as

[amp_mcq option1=”activity list” option2=”activity dictionary” option3=”active purpose” option4=”both a and b” correct=”option2″]

Detailed SolutionIn activity based costing system, description of activity can be classified as

[amp_mcq option1=”Gross margin in terms of amount of money” option2=”Gross margin in terms of separable costs” option3=”Gross margin in terms of total cost” option4=”Gross margin in terms of labour cost” correct=”option1″]

Detailed SolutionPercentage of overall gross margin is multiplied to final sales value of products total production is used to calculate

[amp_mcq option1=”proration approach” option2=”appreciation approach” option3=”depreciation approach” option4=”adjusted approach” correct=”option1″]

Detailed SolutionSpread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as

[amp_mcq option1=”Ratio analysis” option2=”Budgetory control” option3=”Inventory control” option4=”Sales budgeting” correct=”option3″]

Detailed SolutionABC analysis is used for the following