Costing

41. Which of the following technique of inventory control is specially designed to have better control on investment and cost:

ABC Analysis
VED Analysis
SDE Analysis
GOLF Analysis

Detailed SolutionWhich of the following technique of inventory control is specially designed to have better control on investment and cost:

42. Type of budget, which is always available for specified period of future is called

period budget
batch budget
discontinued budget
continuous budget

Detailed SolutionType of budget, which is always available for specified period of future is called

43. In specification analysis, assumptions related to residuals states must be

worst
independent
dependent
good

Detailed SolutionIn specification analysis, assumptions related to residuals states must be

44. Use of variables to signal whether strategies are effective or ineffective is classified as

evaluating strategy
performing strategy
warned strategy
weighted strategy

Detailed SolutionUse of variables to signal whether strategies are effective or ineffective is classified as

45. Department which directly adds value to product or service is known as

production department
operating department
allocation base department
both a and b

Detailed SolutionDepartment which directly adds value to product or service is known as

46. In case of rising prices (inflation), FIFO method will:

provide lowest value of closing stock and profit
provide highest value of closing stock and profit
provide highest value of closing stock but lowest value of profit
provide highest value of profit but lowest value of closing stock

Detailed SolutionIn case of rising prices (inflation), FIFO method will:

47. Residual material which results from manufacturing products is called

reduced work
spoilage
rework
scrap

Detailed SolutionResidual material which results from manufacturing products is called

48. An assumption, which states that there must be linear relationship between independent variable and dependent variable is

irrelevant range of linearity
relevant range of linearity
significant range
insignificant range

Detailed SolutionAn assumption, which states that there must be linear relationship between independent variable and dependent variable is

49. Contracts where all agreed costs are recovered is known as:

Target costing
Operation costing
Cost plus contract costing
Process costing E. Job costing

Detailed SolutionContracts where all agreed costs are recovered is known as:

50. “Calculate workers left and discharged from the following: Labour turnover rates are 20%, 10% and 6% respectively under Flux method, Replacement method and Separation method No of workers replaced during the quarter is 80”

112
80
48
64

Detailed Solution“Calculate workers left and discharged from the following: Labour turnover rates are 20%, 10% and 6% respectively under Flux method, Replacement method and Separation method No of workers replaced during the quarter is 80”

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