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

41. If factory overhead is Rs. 70,000 whose 70% is changed with the sales, then in this the amount of fixed part will be

49,000

70,000

21,000

91,000

Detailed SolutionIf factory overhead is Rs. 70,000 whose 70% is changed with the sales, then in this the amount of fixed part will be

42. In process costing, if an abnormal loss arises, the process account is generally.

Debited with the scrap value of the abnormal loss units

Debited with the full production cost of the abnormal loss units

Credited with the scrap value of the abnormal loss units

Credited with the full production cost of the abnormal loss units

Detailed SolutionIn process costing, if an abnormal loss arises, the process account is generally.

43. The primary emphasis of . . . . . . . . cost is on the planning function of management.

budgeted

standard

period

None of these

Detailed SolutionThe primary emphasis of . . . . . . . . cost is on the planning function of management.

44. Cash receipts is added in to beginning cash balance to calculate

total goods manufactured

total cash available

total revenue

total goods sold

Detailed SolutionCash receipts is added in to beginning cash balance to calculate

45. . . . . . . . . is most suitable when quality of work is of prime importance.

Piece rate system

Time wage system

Both A and B

None of these

Detailed Solution. . . . . . . . is most suitable when quality of work is of prime importance.

46. If employees of division A work for 8000 hours for $90 per hour, then rate must be paid in division B in accordance of single rate method will be

$90 per hour

less than $90 per hour

greater than $90 per hour

none of above

Detailed SolutionIf employees of division A work for 8000 hours for $90 per hour, then rate must be paid in division B in accordance of single rate method will be

47. Sales budget is a:

Functional budget

Master budget

Expenditure budget

None of these

Detailed SolutionSales budget is a:

48. Cost analysis method, which uses mathematical method to use fit between past data observations and cost functions is termed as

quantitative analysis method

qualitative analysis method

account analysis method

conference analysis method

Detailed SolutionCost analysis method, which uses mathematical method to use fit between past data observations and cost functions is termed as

49. The amount paid to sub-contractor is ________.

subtracted from the contract price

debited to contract a/c

credited to contract a/c

added with the contract price

Detailed SolutionThe amount paid to sub-contractor is ________.

50. Function used to measure decline in labour hours per unit as units of production increases is called

fixed curve

learning curve

linear curve

mixed curve

Detailed SolutionFunction used to measure decline in labour hours per unit as units of production increases is called

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