Costing

31. If cost incurred for work in process inventory is $350000 and total equivalent units completed till date are 3500, then weighted average cost will be

$10
$100
$1,000
$1,200

Detailed SolutionIf cost incurred for work in process inventory is $350000 and total equivalent units completed till date are 3500, then weighted average cost will be

32. Basis of apportionment of creche expenses is . . . . . . . .

number of employees
number of female employees
number of male employees
Both B and C

Detailed SolutionBasis of apportionment of creche expenses is . . . . . . . .

33. Overall profitability ratios are based on

Investments
Sales
Both A and B
None of the above

Detailed SolutionOverall profitability ratios are based on

34. Rowan premium plan reformed-

Taylor method
Gant bonus scheme
Halsey's interest method
Differential method

Detailed SolutionRowan premium plan reformed-

35. Cash flow statement is prepared from

Balance Sheet
Profit and Loss A/c
Additional information
All of these

Detailed SolutionCash flow statement is prepared from

36. Difference between budgeted amounts and actual results is classified as

standard deviation
variances
mean average
weighted average

Detailed SolutionDifference between budgeted amounts and actual results is classified as

37. If budgeted total direct labour hours are 5500 and budgeted direct labour cost is $755000, then budgeted direct labour cost rate is

$138 per labour hour
$137.27 per hour
$140 per labour hour
$142 per labour hour

Detailed SolutionIf budgeted total direct labour hours are 5500 and budgeted direct labour cost is $755000, then budgeted direct labour cost rate is

38. In normal costing, budgeted rate is multiplied to an actual quantity, which have been used as allocation base to calculate

budget overhead applied
manufacturing overhead applied
labour overhead applied
none of above

Detailed SolutionIn normal costing, budgeted rate is multiplied to an actual quantity, which have been used as allocation base to calculate

39. Costs of issuing purchase orders, making of delivery records for tracking payments and costs of inspection of items are classified as

stock-out costs
ordering costs
carrying costs
purchasing costs

Detailed SolutionCosts of issuing purchase orders, making of delivery records for tracking payments and costs of inspection of items are classified as

40. Cost accounts deal partly with facts and figures and partly with . . . . . . . .

estimates
costs
income
revenue

Detailed SolutionCost accounts deal partly with facts and figures and partly with . . . . . . . .

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