Costing Archives - Page 5 of 116 - MCQ and Quiz for Exams

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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