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

31. Cash budget is based on

past performance

future estimates

Both A and B

None of these

Detailed SolutionCash budget is based on

32. Qualities demanded from the job holder is technically known as . . . . . . . .

job description

job specifications

job evaluation

Both A and B

Detailed SolutionQualities demanded from the job holder is technically known as . . . . . . . .

33. Abnormal cost is . . . . . . . .

uncontrollable

controllable

fixed

None of these

Detailed SolutionAbnormal cost is . . . . . . . .

34. If total incurred cost in a production process are $30000 and number of output units are 5000 units, then units cost will be

$16

$60

$6

$26

Detailed SolutionIf total incurred cost in a production process are $30000 and number of output units are 5000 units, then units cost will be

35. Reorder point is divided by number of sold units for per unit of time to calculate

relevant carrying cost

relevant ordering cost

purchase order lease time

number of purchase orders

Detailed SolutionReorder point is divided by number of sold units for per unit of time to calculate

36. Works overhead is Rs 40,000, total machine hours is 8500 hours and time allowed for machine setting is 500 houRs What is the machine rate?

Rs. 2 per hour

Rs. 3 per hour

Rs. 4 per hour

Rs. 5 per hour

Detailed SolutionWorks overhead is Rs 40,000, total machine hours is 8500 hours and time allowed for machine setting is 500 houRs What is the machine rate?

37. Which of the following is correct in regard to the cost unit of a passenger transport 1. Per passenger 2. Per kilometre Select the correct answer

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Detailed SolutionWhich of the following is correct in regard to the cost unit of a passenger transport 1. Per passenger 2. Per kilometre Select the correct answer

38. The method in which issue prices of material is computed by dividing total purchase cost of material in stock with total quantity in stock ________.

Simple average method

weighted average method

periodical average method

periodic simple average method

Detailed SolutionThe method in which issue prices of material is computed by dividing total purchase cost of material in stock with total quantity in stock ________.

39. Operating costing is suitable for _______.

job order business

contractors

sugar industries

service industries

Detailed SolutionOperating costing is suitable for _______.

40. . . . . . . . . is a summary of all function budgets in a Capsule form.

Master budget

Sales budget

Performance budget

Cash budget

Detailed Solution. . . . . . . . is a summary of all function budgets in a Capsule form.

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