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41. Costs incurred in production process that yield range of products simultaneously are known as

separable costs

joint costs

main costs

split off costs

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42. Fixed cost . . . . . . . . in the same proportion in which output changes.

does not change

changes

increases

None of these

Detailed SolutionFixed cost . . . . . .

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. . in the same proportion in which output changes.

43. Primary packing is an item of . . . . . . . .

selling overheads

prime cost

distribution overheads

factory overheads

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44. An item of cost that is direct for one business may be . . . . . . . . for another business.

important

direct

indirect

None of the above

Detailed SolutionAn item of cost that

is direct for one business may be . . . . . . . . for another business.

45. When factory overhead control account has an ending debit balance, factory overhead was . . . . . . . .

over applied

under applied

Both A and B

None of these

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46. The following items are included in the distribution cost

Dispatch clerk salary

Tender preparation cost

Sales manager salary

Detailed

Solution

47. A firm consumes 90,000 units of a certain item of raw material in its production process annually. It costs Rs. 3 per unit, the cost per purchase order is Rs. 300 and the inventory carrying cost is 20% per year. What is the EOQ?

9470 units

9487 units

9480 units

9840 units

Detailed SolutionA

firm consumes 90,000 units of a certain item of raw material in its production process annually. It costs Rs. 3 per unit, the cost per purchase order is Rs. 300 and the inventory carrying cost is 20% per year. What is the EOQ?

48. Manager who is responsible for investments of company, its costs and revenues is known as

profit center

investment center

cost center

revenue center

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49. An analysis and estimation method of cost, by classifying cost accounts as fixed or variable with respect for specific output level is considered as

manufacturing analysis method

price analysis method

unit analysis method

account analysis method

Detailed SolutionAn analysis and

estimation method of cost, by classifying cost accounts as fixed or variable with respect for specific output level is considered as

50. Working capital requirement of a sugar mill is assessed as per

traditional method of lending

turnover method

cash budget method

None of the above

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