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

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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