[amp_mcq option1=”Increase in overhead rate per hour” option2=”Decrease in overhead rate per hour” option3=”Increase or decrease in actual output as compared to the budgeted output” option4=”Difference in budgeted overheads and actual overheads” correct=”option3″]
Costing
32. Wages paid to workers of factory are termed as
[amp_mcq option1=”workers premium” option2=”overtime premium” option3=”factory premium” option4=”wage premium” correct=”option4″]
Detailed SolutionWages paid to workers of factory are termed as
33. Master budget is a
[amp_mcq option1=”Functional budget” option2=”Operating budget” option3=”Summary budget” option4=”Financial budget” correct=”option4″]
34. The most important element of cost in manufacturing industries is _________.
[amp_mcq option1=”material” option2=”labour” option3=”direct costs” option4=”indirect costs” correct=”option1″]
Detailed SolutionThe most important element of cost in manufacturing industries is _________.
35. A concept used to define learning curve in broader application is called
[amp_mcq option1=”discrete curve” option2=”fixed curve” option3=”mixed curve” option4=”experience curve” correct=”option4″]
Detailed SolutionA concept used to define learning curve in broader application is called
36. Final sales is subtracted from net realizable value is used to calculate
[amp_mcq option1=”separable costs” option2=”inseparable costs” option3=”joint costs” option4=”floating costs” correct=”option1″]
Detailed SolutionFinal sales is subtracted from net realizable value is used to calculate
37. The preparation of consolidated balance sheet of holding company and its subsidiary company is done as per
[amp_mcq option1=”AS 11″ option2=”AS 21″ option3=”AS 22″ option4=”AS 23″ correct=”option1″]
38. Hybrid costing system, which is applied to batches of similar products, but are not identical is classified as
[amp_mcq option1=”incremental costing system” option2=”split off costing system” option3=”inventoriable costing system” option4=”operation costing system” correct=”option4″]
39. The maximum bonus rate under Halsey Premium Method, can be
[amp_mcq option1=”25%” option2=”$$30\frac{1}{2}\% $$” option3=”$$33\frac{1}{3}\% $$” option4=”50%” correct=”option1″]
Detailed SolutionThe maximum bonus rate under Halsey Premium Method, can be
40. . . . . . . . . costs are partly fixed and partly variable in relation to output.
[amp_mcq option1=”Variable” option2=”Fixed” option3=”Semi-variable” option4=”Both A and B” correct=”option3″]
Detailed Solution. . . . . . . . costs are partly fixed and partly variable in relation to output.