Costing Archives - Page 4 of 116 - MCQ and Quiz for Exams

31. Material should be issued by the store keeper against . . . . . . . .

material requisition

bill of materials

Both A and B

None of these

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

32. The deviation of the actual cost or profit or sales from the standard cost or profit or sale is known as . . . . . . . .

Difference

Variance

Discrepancy

Inconsistency

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

33. X 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

1.4 times

2.4 times

1.2 times

3.4 times

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

34. Which of the following would have been equal to factory overhead?

Factory cost - Prime cost

Factory cost + Prime cost

Prime cost + Direct cost

Factory cost + Direct expenses

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

35. Decision model to calculate optimal quantity of inventory to be ordered is called

efficient order quantity

economic order quantity

rational order quantity

optimized order quantity

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

36. For slope coefficient b, value of estimated coefficient is considered as

d-value

c-value

t-value

b-value

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

37. In activity based costing system, description of activity can be classified as

activity list

activity dictionary

active purpose

both a and b

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

38. Percentage of overall gross margin is multiplied to final sales value of products total production is used to calculate

Gross margin in terms of amount of money

Gross margin in terms of separable costs

Gross margin in terms of total cost

Gross margin in terms of labour cost

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

39. Spread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as

proration approach

appreciation approach

depreciation approach

adjusted approach

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

40. ABC analysis is used for the following

Ratio analysis

Budgetory control

Inventory control

Sales budgeting

Detailed SolutionABC analysis is used for the following

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