Costing Archives

421. The cause of increase in cost per unit under process costing is

Abnormal wastage

Normal wastage

Abnormal gain

Normal gain

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422. Which of the following methods of stock control aims at concentrating efforts on selected items of material?

Perpetual inventory system

Material turnover ratio

Level setting

ABC analysis

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control aims at concentrating efforts on selected items of material?" class="read-more button" href="https://exam.pscnotes.com/mcq/which-of-the-following-methods-of-stock-control-aims-at-concentrating-efforts-on-selected-items-of-material/#more-53931">Detailed Solution

423. Collection of cost data, according to accounting system in an organized way is classified as

system accumulation

accumulated data

cost accumulation

organized accumulation

Detailed SolutionCollection

of cost data, according to accounting system in an organized way is classified as

424. Methods used to allocate costs of reciprocal support departments include

direct method

step down

reciprocal method

all of above

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class="screen-reader-text">Methods used to allocate costs of reciprocal support departments include

425. Match the following. List-I List-II a. Operating profit 1. Capital employed = . . . . . . . . + Preference share capital b. Liquid liabilities 2. . . . . . . . . = Gross profit – Operating expenses c. Capital employed 3. Quick assets = Quick ratio Ã . . . . . . . . d. Equity share capital 4. Fixed assets ratio = Fixed assets Ã· . . . . . . . .

a-2, b-3, c-4, d-1

a-3, b-4, c-1, d-2

a-4, b-3, c-2, d-1

a-2, b-1, c-4, d-3

Detailed SolutionMatch the following. List-I List-II a. Operating profit 1. Capital employed = . . . . . . . . + Preference share capital b. Liquid liabilities 2. . . . . . . . . = Gross profit – Operating expenses c.

Capital employed 3. Quick assets = Quick ratio Ã . . . . . . . . d. Equity share capital 4. Fixed assets ratio = Fixed assets Ã· . . . . . . . .

426. The cost of material that is not completely processed, would be found in which of the following inventory account on the balance sheet?

Direct material inventory

Work in-process inventory

Finished goodsinventory

Supplier inventory

Detailed SolutionThe cost of material that is not completely processed, would

be found in which of the following inventory account on the balance sheet?

427. ___________ is a summary of all functional budgets in a capsule form.

Functional Budget

Master Budget

Long Period Budget

Flexible Budget

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