Costing

41. Basis of apportionment of welfare department expenses is . . . . . . . .

wages of each department
number of employees
materials consumed
number of machineries

Detailed SolutionBasis of apportionment of welfare department

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expenses is . . . . . . . .

42. A favourable variance will arise when capital revenues are . . . . . . . . than expected.

more
less
lesser
None of the above

Detailed SolutionA favourable variance will arise when capital

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revenues are . . . . . . . . than expected.

43. The Gantt bonus scheme is a composite form of-

Rown and Taylor's plan
Halsey and rown scheme
Halsey and Taylor scheme
Emerson and Bedox scheme

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composite form of-" class="read-more button" href="https://exam.pscnotes.com/mcq/the-gantt-bonus-scheme-is-a-composite-form-of/#more-48919">Detailed SolutionThe Gantt bonus scheme is a composite form of-

44. Factors that accelerate process of refining a costing system include

increase in product diversity
increase in indirect costs
product market competitions
all of above

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button" href="https://exam.pscnotes.com/mcq/factors-that-accelerate-process-of-refining-a-costing-system-include/#more-48916">Detailed SolutionFactors that accelerate process of refining a costing system include

45. Financial statements and budget plans of some companies are also called

cost statement
preformed statement
sales statement
market statement

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called" class="read-more button" href="https://exam.pscnotes.com/mcq/financial-statements-and-budget-plans-of-some-companies-are-also-called/#more-48880">Detailed SolutionFinancial statements and budget plans of some companies are also called

46. Time keeping refers to _______.

time spent by worker on their job
time spent by workers in the factory
time spent by workers without work

Detailed SolutionTime keeping refers to _______.

47. The basic difference between a static budget and flexible budget is that

a flexible budget considers only variable costs but a static budget considers all costs
a flexible budgets allows management latitude in meeting goals, whereas static budget is based on fixed standards
a flexible budget can be prepared for any production level within a relevant range but a static budget is based on one specific level of production

Detailed SolutionThe basic difference between a static budget and flexible budget is that

48. Standard cost is a . . . . . . . . cost.

predetermined
historical
actual
final

Detailed SolutionStandard cost is

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a . . . . . . . . cost.

49. If direct service labour is $7000, idle time wages are $2000 and overtime premium is $950, then total figure would be

$5,850
$5,950
$9,950
$10,050

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0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube href="https://exam.pscnotes.com/mcq/if-direct-service-labour-is-7000-idle-time-wages-are-2000-and-overtime-premium-is-950-then-total-figure-would-be/#more-48783">Detailed SolutionIf direct service labour is $7000, idle time wages are $2000 and overtime premium is $950, then total figure would be

50. Cash flow statement is useful for financial planning.

short-term
long-term
short-term as well as long-term
None of the above

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64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube button" href="https://exam.pscnotes.com/mcq/cash-flow-statement-is-useful-for-financial-planning/#more-48764">Detailed SolutionCash flow statement is useful for financial planning.

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