An opportunity cost is _____
1.the advantage foregone
2.the cost
3.the income
4.None of the above.
Posted Date:-2021-11-16 13:21:27
Capital gearing ratio is _____
1.Market test ratio
2.Long-term solvency ratio
3.Liquid ratio
4.turnover ratio
Posted Date:-2021-11-16 12:57:22
A budget which is prepared in a manner so as to give the budgeted cost for any level of activity is known as:
1.Master budget
2.Zero base budget
3.Functional budget
4.Flexible budget
Posted Date:-2021-11-16 12:39:16
A company's break even point is 6,000 units per annum. The selling price is Rs. 90 per unit and the variable cost is Rs. 40 per unit. What are the company's annual fixed costs?
1.Rs. 120
2.Rs. 2,40,000
3.Rs. 3,00,000
4.Rs. 5,40,000
Posted Date:-2021-11-16 12:42:42
A job is budgeted to require 3,300 productive hours after incurring 25% idle time. If the total labour cost budgeted for the job is Rs36,300. What is the labour cost per hour( to the nearest cent)?
1.Rs 8.25
2.Rs 8.80
3.Rs 11.00
4.Rs 14.67
Posted Date:-2021-11-16 12:56:10
ABC analysis is an inventory control technique in which:
1.Inventory levels are maintained
2.Inventory is classified into A, B and C category with A being the highest quantity, lowest value.
3.Inventory is classified into A, B and C Category with A being the lowest quantity, highest value
4.Either b or c.
Posted Date:-2021-11-16 12:55:15
Abnormal cost is the cost:
1.Cost normally incurred at a given level of output
2.Cost not normally incurred at a given level of output
3.Cost which is charged to customer
4.Cost which is included in the cost of the product
Posted Date:-2021-11-16 12:43:51
Allotment of whole item of cost to a cost centre or cost unit is known as:
1.Cost Apportionment
2.Cost Allocation
3.Cost Absorption
4.Machine hour rate
Posted Date:-2021-11-16 12:53:53
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.
1.112
2.80
3.48
4.64
Posted Date:-2021-11-16 12:53:28
Calculate workers recruited and joined 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.
1.112
2.80
3.48
4.64
Posted Date:-2021-11-16 12:41:04
CG Co manufactures a single product T. Budgeted production output of product T during June is 200 units. Each unit of product T requires 6 labour hours for completion and CG Co anticipates 20 per cent idle time. Labour is paid at a rate of Rs7 per hour. The direct labour cost budget for March is
1.Rs 6,720
2.8,400
3.10,080
4.10,500
Posted Date:-2021-11-16 12:54:22
Conversion cost includes cost of converting _______ into _____
1.Raw material, WIP
2.Raw material, Finished goods
3.WIP, Finished goods
4.Finished goods, Saleable goods
Posted Date:-2021-11-16 12:37:24
Cost Accountancy is the science, art and ______________ of a cost accountant.
1.Practice
2.exercise
3.hard work
4.effort
Posted Date:-2021-11-16 13:18:09
Cost accounting records both monetary and ______________ units.
1.Physical
2.cost
3.both a & b
4.None of these.
Posted Date:-2021-11-16 13:18:31
Costing and cost accounting are ______
1.Not the same
2.one and the same
3.not related at all
4.None of these.
Posted Date:-2021-11-16 13:20:15
Depreciation is ______________ expenditure.
1.fixed
2.variable
3.adjustable
4.Semi-variable
Posted Date:-2021-11-16 13:21:49
Describe the method of costing to be applied in case of Nursing Home:
1.Operating Costing
2.Process Costing
3.Contract Costing
4.Job Costing
Posted Date:-2021-11-16 12:44:14
During a period 17, 500 labour hours were worked at a standard cost of Rs 6.50 per hour. The labour efficiency variance was Rs 7,800 favourable. How many standard hours were produced?
1.1,200
2.16,300
3.17,500
4.18,700
Posted Date:-2021-11-16 12:46:00
Element/s of Cost of a product are:
1.Material only
2.Labour only
3.Expenses only
4.Material, Labour and expenses
Posted Date:-2021-11-16 12:43:27
If overtime is resorted to at the desire of the customer, then the overtime premium:
1.should be charged to costing profit and loss account;
2.should not be charged at all
3.should be charged to the job directly
4.should be charged to the highest profit making department
Posted Date:-2021-11-16 12:38:23
In case of rising prices (inflation), FIFO method will:
1.provide lowest value of closing stock and profit
2.provide highest value of closing stock and profit
3.provide highest value of closing stock but lowest value of profit
4.provide highest value of profit but lowest value of closing stock
Posted Date:-2021-11-16 12:40:33
In case of rising prices (inflation), LIFO will:
1.provide lowest value of closing stock and profit
2.provide highest value of closing stock and profit
3.provide highest value of closing stock but lowest value of profit
4.provide highest value of profit but lowest value of closing stock
Posted Date:-2021-11-16 12:56:46
In process costing, if an abnormal loss arises, the process account is generally
1.Debited with the scrap value of the abnormal loss units
2.Debited with the full production cost of the abnormal loss units
3.Credited with the scrap value of the abnormal loss units
4.Credited with the full production cost of the abnormal loss units
Posted Date:-2021-11-16 12:46:36
Material abstract is also known as _______
1.Material issue analysis sheet
2.bill of materials
3.stores ledger
4.None of the above
Posted Date:-2021-11-16 13:22:36
Most suitable basis for apportioning insurance of machine would be:
1.Floor Area
2.Value of Machines
3.No. of Workers
4.No. of Machines
Posted Date:-2021-11-16 05:54:18
Out of the following, what is not the work of purchase department:
1.Receiving purchase requisition
2.Exploring the sources of material supply
3.Preparation and execution of purchase orders
4.Accounting for material received
Posted Date:-2021-11-16 12:45:08
Re-order level is calculated as:
1.Maximum consumption x Maximum re-order period
2.Minimum consumption x Minimum re-order period
3.1/2 of (Minimum + Maximum consumption)
4.Maximum level - Minimum level
Posted Date:-2021-11-16 12:52:22
Service departments costs should be allocated to:
1.Only Service departments
2.Only Production departments
3.Both Production and service departments
4.None of the production and service departments
Posted Date:-2021-11-16 12:55:37
Specific price method of valuing material issue is used when _______
1.Materials are purchased for specific job or work order
2.Materials are purchased for specific job or work order
3.prices fluctuate
4.None of these
Posted Date:-2021-11-16 13:23:02
Stores Ledger is a:
1.Quantitative as well as value wise records of material received, issued and balance;
2.Quantitative record of material received, issued and balance
3.Value wise records of material received, issued and balance
4.a record of labour attendance
Posted Date:-2021-11-16 12:37:51
Stores Ledger is maintained in the _________
1.Store
2.finance department
3.cost accounting department
4.Both a & b
Posted Date:-2021-11-16 13:22:14
The P/v ratio of a company is 50% and margin of safety is 40%. If present sales is Rs. 30,00,000 then Break Even Point in Rs. will be
1.Rs. 9,00,000
2.Rs. 18,00,000
3.Rs. 5,00,000
4.None of the above
Posted Date:-2021-11-16 12:54:50
The primary emphasis of ______________ cost is on the planning function of management.
1.Budgeted
2.standard
3.period
4.None of these
Posted Date:-2021-11-16 13:20:59
The principle types of inventories are raw materials and , _________ and finished goods
1.Processed materials
2.Goods-in-progress
3.stored goods
4.goods for dispatch
Posted Date:-2021-11-16 13:23:27
The summarized balance sheet of Rakesh udyog Limited shows the balances of previous and current year of provision for taxation Rs. 50,000 and Rs. 65,000. If taxed paid during the current year amounted to Rs. 70,000 then amount charge from Profit and Loss Account will be:
1.Rs. 55,000
2.Rs. 85,000
3.Rs. 45,000
4.Rs. 1,85,000
Posted Date:-2021-11-16 12:39:39
Total cost of a product: Rs. 10,000 Profit: 25% on Selling Price Profit is:
1.Rs. 2,500
2.Rs. 3,000
3.Rs. 3,333
4.Rs. 2,000
Posted Date:-2021-11-16 12:44:42
Uncontrollable costs are the costs which be influenced by the action of a specified member of an undertaking.
1.can not
2.can
3.may or may not
4.must
Posted Date:-2021-11-16 12:40:04
Which of the following is an abnormal cause of Idle time:
1.Time taken by workers to travel the distance between the main gate of factory and place of their work
2.Time lost between the finish of one job and starting of next job
3.Time spent to meet their personal needs like taking lunch, tea etc.
4.Machine break downs
Posted Date:-2021-11-16 12:45:32
Which of the following is not a method of cost absorption?
1.Percentage of direct material cost
2.Machine hour rate
3.Labour hour rate
4.Repeated distribution method
Posted Date:-2021-11-16 12:38:47
Which of the following is not a reason for an idle time variance?
1.Wage rate increase
2.Machine breakdown
3.Illness or injury to worker
4.Non- availability of material
Posted Date:-2021-11-16 05:54:52
Which of the following is not an avoidable cause of labour turnover:
1.Dissatisfaction with Job
2.Lack of training facilities
3.Low wages and allowances
4.Disability, making a worker unfit for work
Posted Date:-2021-11-16 05:53:09
_____ is a technique of stock control which leads to saving of time of the management because attention is required to be paid only to some of the items rather than on all the items.
1.ABC Analysis
2.JIT Inventory System
3.VED Analysis
4.Perpetual Inventory System
Posted Date:-2021-11-16 13:23:54
______ costing is a type or technique of costing.
1.Marginal
2.batch
3.multiple
4.job
Posted Date:-2021-11-16 13:17:45
______ is also known as working capital ratio.
1.Current ratio
2.Quick ratio
3.Liquid ratio
4.Debt-equity ratio
Posted Date:-2021-11-16 12:43:04
_______ forms part of cost of production.
1.Abnormal waste
2.normal waste
3.both a & b
4.None of these
Posted Date:-2021-11-16 13:24:23
_______ includes financial and cost accounting, tax planning and tax accounting.
1.Financial accounting
2.cost accounting
3.management accounting
4.None of these
Posted Date:-2021-11-16 13:17:24
_______ is a method of evaluating the job in terms of its money value.
1.Job analysis
2.Job evaluation
3.work measurement
4.Motion study
Posted Date:-2021-11-16 13:24:46
_______ is a summary of all functional budgets in a capsule form.
1.Functional Budget
2.Master Budget
3.Long Period Budget
4.Flexible budget
Posted Date:-2021-11-16 13:16:36
________ is one which can be conveniently identified with and charged to a particular unit of cost.
1.Direct cost
2.Indirect cost
3.Overhead
4.None of these
Posted Date:-2021-11-16 13:20:37
________ provides information for income determination.
1.Financial accounting
2.cost accounting
3.management accounting
4.None of these
Posted Date:-2021-11-16 13:17:01