Costing Archives

41. Material Costs of each job are determined from . . . . . . . .

material requisition notes

bill of materials

Both A and B

None of these

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42. If an unexplained variation is 456870 and total variation is 955000, then coefficient of determination will be

0.4528

0.4783

0.5216

0.5425

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will be" class="read-more button" href="https://exam.pscnotes.com/mcq/if-an-unexplained-variation-is-456870-and-total-variation-is-955000-then-coefficient-of-determination-will-be/#more-52979">Detailed Solution

43. Considering relationship of variables, relationship in which activity cost is included in dependent variable, which has similar cost driver is classified as

heterogeneous relationship

extreme relationship

no homogeneous relationship

homogeneous relationship

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Detailed SolutionConsidering relationship of variables, relationship in which

activity cost is included in dependent variable, which has similar cost driver is classified as

44. A joint cost allocation method is based on relative value of total sales, at point of split off is classified as

sales value at split off method

joint costs at split off point method

joint products value at split off method

main product cost at split off method

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45. If the contract is 50% complete, which of the following amount of profit is normally credited?

50% of the estimated profit

Estimated profit amount

Two-third of the profit earned multiplied by cash ratio

None of these

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Detailed SolutionIf the contract is 50% complete, which of the following amount of profit is normally credited?

46. In production, variables such as level of activity or volume of company activity are known as

cost drivers

timed drivers

variable drivers

fixed drivers

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href="https://exam.pscnotes.com/mcq/in-production-variables-such-as-level-of-activity-or-volume-of-company-activity-are-known-as/#more-52929">Detailed Solution

47. Hierarchy which is based on different types of cost allocation and drivers, is to categorize cost pool activity is classified as

cost hierarchy

price hierarchy

activity hierarchy

purpose hierarchy

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as" class="read-more button" href="https://exam.pscnotes.com/mcq/hierarchy-which-is-based-on-different-types-of-cost-allocation-and-drivers-is-to-categorize-cost-pool-activity-is-classified-as/#more-52897">Detailed Solution

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 __________.

joint products

by products

seasonal products

economic products

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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 __________.