Costing Archives

881. Absorption means ________.

charging overheads to cost centres

charging of overheads to cost units

charging of overheads to cost centres or cost units

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Detailed SolutionAbsorption means ________.

882. If the prime cost is Rs. 50,000 and factory cost will Rs. 70,000 and office overhead is 50% of factory overhead, then the production cost will be

1,55,000

1,05,000

85,000

80,000

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Detailed SolutionIf the prime cost is Rs. 50,000 and factory cost will Rs. 70,000

and office overhead is 50% of factory overhead, then the production cost will be

883. In increasing production volume situation, the behaviour of fixed cost will be . . . . . . . . and variable cost will . . . . . . . .

decreases, increases

increase, decreasing

constant, increase

increase, constant

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Detailed SolutionIn increasing production volume situation, the behaviour of

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fixed cost will be . . . . . . . . and variable cost will . . . . . . . .

884. The costing method in which fixed factory overheads are added to inventory is

process costing

activity based costing

marginal costing

standard costing

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Detailed SolutionThe costing

method in which fixed factory overheads are added to inventory is

885. In quantitative analysis to estimate cost function, fourth step is to

write a liner function

write price function

write manufacturing function

plot data

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886. . . . . . . . . budget is the most important budget and it forms the basis on which all the other budgets are built up.

Production

Material

Cash budget

Sales

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Detailed Solution. . . . . . . . budget is the most

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important budget and it forms the basis on which all the other budgets are built up.

887. An expected future cost which diverges in unconventional course of action is known as

partial cost

total cost

irrelevant cost

relevant cost

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