Costing

41. Which aspect of business is affected the most by implementing JIT?

Sales
Inventory
Manpower requirement
Total maintenance

Detailed SolutionWhich aspect of business is affected the most by implementing JIT?

42. Accounting information given by a company is Total assets turnover = 3 times Net profit margin = 10% Total assets = Rs. 1,00,000 The net profit is

Rs. 10,000
Rs. 15,000
Rs. 25,000
Rs. 30,000

Detailed SolutionAccounting information given by a company is Total assets turnover = 3 times Net profit margin = 10% Total assets = Rs. 1,00,000 The net profit is

43. Regression Analysis Method of quantitative analysis of cost function considers

all data points
One data point
Two data points
Four data points

Detailed SolutionRegression Analysis Method of quantitative analysis of cost function considers

44. In linear cost function, fixed cost is considered as

constant
variable
exponent
base

Detailed SolutionIn linear cost function, fixed cost is considered as

45. The improvement of the profit-volume ratio can be done by

Increasing selling price
Altering sales mixture
Reducing the variable cost
All of the above

Detailed SolutionThe improvement of the profit-volume ratio can be done by

46. Highest in First Out (HIFO) method of issue of material is useful when the

Price of material is increasing
Price of material is decreasing
Price of material is fluctuating
Price of material is stable

Detailed SolutionHighest in First Out (HIFO) method of issue of material is useful when the

47. Point in joint production process, in which two or more products are separately identifiable is termed as

step down point
incremental point
split off point
inseparability point

Detailed SolutionPoint in joint production process, in which two or more products are separately identifiable is termed as

48. Match the following. List-I List-II a. Absorption costing 1. . . . . . . . . is a logical extension of marginal costing. b. Fixed expenses 2. . . . . . . . . is a valuable adjust to standard costing and budgetary costing. c. Marginal costing 3. Contribution = . . . . . . . . + Profit. d. Break-even analysis 4. . . . . . . . . is not very helpful in taking managerial decisions.

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

Detailed SolutionMatch the following. List-I List-II a. Absorption costing 1. . . . . . . . . is a logical extension of marginal costing. b. Fixed expenses 2. . . . . . . . . is a valuable adjust to standard costing and budgetary costing. c. Marginal costing 3. Contribution = . . . . . . . . + Profit. d. Break-even analysis 4. . . . . . . . . is not very helpful in taking managerial decisions.

49. In a joint process of production, two or more products that yield high volume of sales as compared to total sales of other products are classified as

split off product
joint product
sunk product
main product

Detailed SolutionIn a joint process of production, two or more products that yield high volume of sales as compared to total sales of other products are classified as

50. Management by exception is exercising control over . . . . . . . .

Costs
Favourable items
Unfavourable items
All of these

Detailed SolutionManagement by exception is exercising control over . . . . . . . .

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