Costing

[amp_mcq option1=”analysis of batches” option2=”analysis of batches” option3=”analysis of products” option4=”making predictions about future” correct=”option3″]

Detailed SolutionThird step in developing operating budget is

[amp_mcq option1=”the financial position” option2=”profit/loss of a product, job or service” option3=”effect and impact of cost on business” option4=”None of these” correct=”option3″]

Detailed SolutionCost accounting disclose . . . . . . . .

[amp_mcq option1=”20%” option2=”40%” option3=”50%” option4=”30%” correct=”option2″]

Detailed SolutionWhat is the gearing ratio if debt is Rs. 220, cash balance is Rs. 20, and equity is Rs. 300?

[amp_mcq option1=”80%” option2=”15%” option3=”25%” option4=”11%” correct=”option4″]

Detailed SolutionDetermine the operating ratio if operating expenses is Rs. 60,000; sales is Rs. 9,40,000; sales return is Rs. 40,000; and cost of net goods sold is Rs. 6,60,000.

[amp_mcq option1=”abnormal” option2=”normal” option3=”Both A and B” option4=”None of these” correct=”option2″]

Detailed SolutionThe cost of . . . . . . . . process loss is absorbed in the cost of production of good units.

[amp_mcq option1=”discuss costs” option2=”prime costs” option3=”resale cost” option4=”merchandise costs” correct=”option2″]

Detailed SolutionDirect material costs are added into direct manufacturing costs to calculate

[amp_mcq option1=”partial work costs” option2=”transferred-in costs” option3=”transferred-out costs” option4=”weighted average costs” correct=”option3″]

Detailed SolutionCosts that are incurred in last department, where product has been processed and will be carried to next department for further processing are called

[amp_mcq option1=”fixed” option2=”variable” option3=”Both A and B” option4=”None of these” correct=”option2″]

Detailed SolutionUnder marginal costing, only . . . . . . . . costs are charged to products.

[amp_mcq option1=”A decrease in inventory” option2=”An increase in debtors” option3=”An increase in the prepaid expenses” option4=”A decrease in income in advance” correct=”option1″]

Detailed SolutionWhich of the following would increase the cash flow of a firm?

[amp_mcq option1=”Prime cost” option2=”Fixed cost” option3=”Variable cost” option4=”Semi-variable cost” correct=”option2″]

Detailed SolutionPeriod costing means