[amp_mcq option1=”Rs. 12″ option2=”Rs. 14″ option3=”Rs. 16″ option4=”Rs. 18″ correct=”option1″]
Costing
32. In master budgeting, cost drivers for manufacturing overhead costs are
[amp_mcq option1=”direct manufacturing labour-hours” option2=”setup labour-hours” option3=”budgeted labour-hours” option4=”both a and b” correct=”option4″]
Detailed SolutionIn master budgeting, cost drivers for manufacturing overhead costs are
33. Procedure of assigning direct cost to any cost abject is classified as
[amp_mcq option1=”sales allocation” option2=”cost tracing” option3=”cost allocation” option4=”sales tracing” correct=”option2″]
Detailed SolutionProcedure of assigning direct cost to any cost abject is classified as
34. The process of allocating and apportioning the costs on suitable basis to all the departments is _______.
[amp_mcq option1=”departmentalization” option2=”primary distribution” option3=”secondary distribution” option4=”classification” correct=”option2″]
35. If an actual indirect cost incur is $35000 and indirect cost allocated is $43000, then under allocated indirect cost will be
[amp_mcq option1=”$78,000″ option2=”-$78000″ option3=”-$8000″ option4=”$8,000″ correct=”option3″]
36. The preparation of a consolidated statement of accounts as per AS-21 is
[amp_mcq option1=”Optional” option2=”Mandatory for private limited companies” option3=”Mandatory for listed companies” option4=”Mandatory for all companies” correct=”option3″]
Detailed SolutionThe preparation of a consolidated statement of accounts as per AS-21 is
37. Type of costs that cannot be traced for individual products but help in supporting an organization are classified as
[amp_mcq option1=”individual sustaining costs” option2=”facility sustaining costs” option3=”sustained tracing” option4=”support tracing” correct=”option2″]
38. Fire insurance of stock can be apportioned on the basis of ________.
[amp_mcq option1=”value of stock” option2=”volume of stock” option3=”number of stores requisition” option4=”material used” correct=”option1″]
Detailed SolutionFire insurance of stock can be apportioned on the basis of ________.
39. In estimation of cost function, an example of independent variable is
[amp_mcq option1=”level of activity” option2=”quantity stored” option3=”quantity manufactured” option4=”quality of product” correct=”option1″]
Detailed SolutionIn estimation of cost function, an example of independent variable is
40. Considering dual rate method, if employees work for 8500 budgeted hours at $120 per hour and work for 9500 actual hours at $110 per hour, then total cost would be
[amp_mcq option1=”$2,078,000″ option2=”$3,078,000″ option3=”$2,065,000″ option4=”$3,065,000″ correct=”option1″]