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

31. Increase in the amount of creditors result in

decrease in cash

increase in cash

no changes in cash

None of these

Detailed SolutionIncrease in the amount of creditors result in

32. Classification and accumulation of costs by fixed and variable costs is of special importance in ________.

process costing

unit costing

operation costing

operating costing

Detailed SolutionClassification and accumulation of costs by fixed and variable costs is of special importance in ________.

33. Inventory turnover in days = Days during the period Ã· . . . . . . . .

inventory turnover ratio

material consumed during the period

cost of average stock during the period

None of these

Detailed SolutionInventory turnover in days = Days during the period Ã· . . . . . . . .

34. . . . . . . . . costing is applicable to printers.

Process

Batch

Multiple

Job

Detailed Solution. . . . . . . . costing is applicable to printers.

35. Term which describes assigning of indirect cost to any cost abject is classified as

cost allocation

sales tracing

sales allocation

cost tracing

Detailed SolutionTerm which describes assigning of indirect cost to any cost abject is classified as

36. Tender price expresses-

Total production cost

Sales cost

Estimated selling price

Cost sheet of last period

Detailed SolutionTender price expresses-

37. Determine the debtors turnover ratio if, closing debtors is Rs. 40,000, cash sale is 25% of credit sales, and excess of closing debtors over opening debtors is Rs. 20,000.

4 times

2 times

6 times

8 times

Detailed SolutionDetermine the debtors turnover ratio if, closing debtors is Rs. 40,000, cash sale is 25% of credit sales, and excess of closing debtors over opening debtors is Rs. 20,000.

38. In cost terms, direct manufacturing labour cost is included in

manufacturing costs

prime costs

conversion costs

both B and C

Detailed SolutionIn cost terms, direct manufacturing labour cost is included in

39. Planning of financial aid to coordinate; what is to be done for implementation of plan is classified as

budget

batching

complexity

process

Detailed SolutionPlanning of financial aid to coordinate; what is to be done for implementation of plan is classified as

40. Which one of following is an example of spoilage?

short lengths from wood work

defective aluminium cans recycled by manufacturer

detection of defective pieces before shipment

all of above

Detailed SolutionWhich one of following is an example of spoilage?

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