[amp_mcq option1=”material requisition notes” option2=”bill of materials” option3=”Both A and B” option4=”None of these” correct=”option3″]
Detailed SolutionMaterial Costs of each job are determined from . . . . . . . .
Costing
42. If an unexplained variation is 456870 and total variation is 955000, then coefficient of determination will be
[amp_mcq option1=”0.4528″ option2=”0.4783″ option3=”0.5216″ option4=”0.5425″ correct=”option1″]
43. Considering relationship of variables, relationship in which activity cost is included in dependent variable, which has similar cost driver is classified as
[amp_mcq option1=”heterogeneous relationship” option2=”extreme relationship” option3=”no homogeneous relationship” option4=”homogeneous relationship” correct=”option4″]
44. A joint cost allocation method is based on relative value of total sales, at point of split off is classified as
[amp_mcq option1=”sales value at split off method” option2=”joint costs at split off point method” option3=”joint products value at split off method” option4=”main product cost at split off method” correct=”option1″]
45. If the contract is 50% complete, which of the following amount of profit is normally credited?
[amp_mcq option1=”50% of the estimated profit” option2=”Estimated profit amount” option3=”Two-third of the profit earned multiplied by cash ratio” option4=”None of these” correct=”option1″]
46. In production, variables such as level of activity or volume of company activity are known as
[amp_mcq option1=”cost drivers” option2=”timed drivers” option3=”variable drivers” option4=”fixed drivers” correct=”option3″]
47. Hierarchy which is based on different types of cost allocation and drivers, is to categorize cost pool activity is classified as
[amp_mcq option1=”cost hierarchy” option2=”price hierarchy” option3=”activity hierarchy” option4=”purpose hierarchy” correct=”option1″]
48. When two products are simultaneously produced in a process and one of them has comparatively high value and other is of low value , the low value product is called __________.
[amp_mcq option1=”joint products” option2=”by products” option3=”seasonal products” option4=”economic products” correct=”option2″]
49. EOQ stands for ________.
[amp_mcq option1=”Economic Order Quantity” option2=”Essential Order Quantity” option3=”Economic Output Quantity” option4=”Essential Output Quantity” correct=”option1″]
50. How many rate are used to calculate wages under Taylor’s differential piece rate system?
[amp_mcq option1=”two” option2=”three” option3=”four” option4=”five” correct=”option1″]