Costing

542. Average unit cost for each process is calculated by dividing the . . . . . . . . by . . . . . . . .

Total cost, number of units
Total process cost, number of units in process
Total process cost, number of finished goods
Total cost, number of units produced

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. . . . . . . . by . . . . . . . ." class="read-more button" href="https://exam.pscnotes.com/mcq/average-unit-cost-for-each-process-is-calculated-by-dividing-the-by/#more-51934">Detailed SolutionAverage unit cost for each process is calculated by dividing the . . . . . . . . by . . . . . . . .

544. If prime cost is Rs. 20,000; factory overheads are 25% of prime cost and office overheads are 80% of factory overheads then the office cost would be

Rs. 25,000
Rs. 29,000
Rs. 36,000
Rs. 45,000

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be" class="read-more button" href="https://exam.pscnotes.com/mcq/if-prime-cost-is-rs-20000-factory-overheads-are-25-of-prime-cost-and-office-overheads-are-80-of-factory-overheads-then-the-office-cost-would-be/#more-51919">Detailed SolutionIf prime cost is Rs. 20,000; factory overheads are 25% of prime cost and office overheads are 80% of factory overheads then the office cost would be

545. From the following information, find out the number of units that must be sold by the firm to earn profit of Rs. 80,000 per year. Sales price: Rs. 25 per unit Variable manufacturing costs: Rs. 12 per unit Variable selling costs: Rs. 3 per unit Fixed factory overheads: Rs. 5,00,000 Fixed selling costs: Rs. 3,00,000

60,000 units
88,000 units
98,000 units
1,00,000 units

Detailed SolutionFrom the following information, find out the number of units that must be sold

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by the firm to
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earn profit of Rs. 80,000 per year. Sales price: Rs. 25 per unit Variable manufacturing costs: Rs. 12 per unit Variable selling costs: Rs. 3 per unit Fixed factory overheads: Rs. 5,00,000 Fixed selling costs: Rs. 3,00,000

546. Inventory turnover ratio is known as:

Cash ratio
Cost ratio
Stock velocity
Profit ratio

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132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube class="read-more button" href="https://exam.pscnotes.com/mcq/inventory-turnover-ratio-is-known-as/#more-51912">Detailed SolutionInventory turnover ratio is known as:

547. Which method of costing is best suited for interior decoration.

Contract accounting
Operating costing
Process costing
Job costing

Detailed Solution

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class="screen-reader-text">Which method of costing is best suited for interior decoration.

548. Match the items of List-I with List-II. List-I List-II a. Intangible assets 1. Ind AS 31 b. Impairment of assets 2. Ind AS 34 c. Interim financial reporting 3. Ind AS 36 d. Interests in joint ventures 4. Ind AS 38

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

Detailed SolutionMatch the items of List-I with List-II. List-I

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288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube
List-II a. Intangible assets 1. Ind AS 31 b. Impairment of assets 2. Ind AS 34 c. Interim financial reporting 3. Ind AS 36 d. Interests in joint ventures 4. Ind AS 38

549. In . . . . . . . ., two piece rates are set for each job.

Merrick's multiple piece rate system
Rowan's Premium Plan
Taylor's differential piece rate system
None of these

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. . . . ., two piece rates are set for each job." class="read-more button" href="https://exam.pscnotes.com/mcq/in-two-piece-rates-are-set-for-each-job/#more-51861">Detailed SolutionIn . . . . . . . ., two piece rates are set for each job.

550. Cost of production is equal to . . . . . . . .

works cost plus administration overheads
prime cost plus works cost
prime cost plus works overhead
works overhead plus administration overheads

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64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube href="https://exam.pscnotes.com/mcq/cost-of-production-is-equal-to/#more-51857">Detailed SolutionCost of production is equal to . . . . . . . .

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