A bus carries 25 passengers daily for 25 days and its mileage per month is 1000 kms. Its passenger miles are ______
1.30,000
2.12,500
3.20,000
4.25,000
Posted Date:-2021-11-16 13:31:49
Administration expenses are mostly ________
1.semi-variable
2.variable
3.fixed
4.None of these.
Posted Date:-2021-11-16 13:41:43
An automobile service unit uses ______ costing.
1.specific order
2.batch
3.job
4.contract
Posted Date:-2021-11-16 13:29:46
An unfavourable material usage arises because of:
1.Price increase in raw materials
2.Price decrease in raw mateials
3.Less than anticipated normal wastage in the manufacturingprocess
4.More than anticipated normal wastage in the manufacturing process
Posted Date:-2021-11-16 13:39:00
Average cost method of valuing material issues is suitable when _______
1.Prices rise
2.prices fall
3.prices fluctuate considerably
4.none of these
Posted Date:-2021-11-16 13:44:12
Basis of apportionment of stores service expenses is _______
1.Value of materials consumed
2.units of material consumed
3.products produced
4.None of these
Posted Date:-2021-11-16 13:27:00
Calendar Ratio=
1.Number of actual working days in a period x 100 Number of working days in the budget period
2.Actual hours worked x 100 Budgeted hours
3.Standard hours for actual production x 100 Actual hours worked
4.Standard hours for actual production x 100 Budgeted standard hours
Posted Date:-2021-11-16 13:34:49
Cash Budget is a ______________ budget.
1.Long term
2.very long term
3.short term
4.very short term
Posted Date:-2021-11-16 13:35:12
Cost accounts deal partly with facts and figures and partly with ________
1.Estimates
2.costs
3.income
4.revenue
Posted Date:-2021-11-16 13:40:58
Economic Batch Quantity depends on ______ and ______ costs.
1.Material, labour
2.set-up costs, carrying
3.transportation, carrying
4.warehousing, labour
Posted Date:-2021-11-16 13:30:16
Expenses incurred during production other than direct materials and direct labour are called _______ factory expenses; those charged to production on estimated basis are called _____
1.Actual, applied
2.applied, actual
3.indirect, direct
4.None of these
Posted Date:-2021-11-16 13:28:06
Fancy packing is an example of ______________ expenses.
1.Selling
2.Distribution
3.administration
4.factory
Posted Date:-2021-11-16 13:49:44
In transportation costing a composite unit such as ______________ is used.
1.passenger mile/km or Ten kilometer
2.per km
3.per passenger
4.per stop
Posted Date:-2021-11-16 13:31:27
In ______________ each job is a cost unit to which all costs are assigned.
1.Batch costing
2.Job costing
3.process costing
4.operation costing
Posted Date:-2021-11-16 13:50:04
Inventory turnover ratio = Cost of _______ during the period ÷ Cost of average inventory held during the period.
1.Inventory consumed
2.minimum inventory
3.maximum inventory
4.none of these
Posted Date:-2021-11-16 13:45:00
Machine hour rate is obtained by dividing the total running expenses of a machine during a particular period by the ______
1.Number of hours
2.number of products produced
3.number of workers
4.Wages
Posted Date:-2021-11-16 13:27:29
Material losses due to abnormal reasons should be transferred to _____
1.Profit and loss account
2.Costing Profit and Loss Account
3.Trading Account
4.none of these
Posted Date:-2021-11-16 13:47:27
Material price variance is the difference between standard and actual prices of materials used multiplied by _____
1.Actual quantity of materials used
2.Budgeted quantity of materials used
3.Standard quantity of materials used
4.Either a or b
Posted Date:-2021-11-16 13:37:49
Process costing is also known as ______________ costing.
1.Continuous
2.batch
3.multiple
4.job
Posted Date:-2021-11-16 13:40:31
Room/day is the cost unit used in ______
1.Hotels
2.hospital
3.schools
4.None of these
Posted Date:-2021-11-16 13:31:04
Salary paid to general manager is an item of _______ expenses.
1.Fixed
2.Variable
3.semi-variable
4.estimated
Posted Date:-2021-11-16 13:28:36
Standard costing is more widely applied in ______________ industries.
1.Process and engineering
2.jobbing industries
3.construction industry
4.All of these
Posted Date:-2021-11-16 13:37:25
Stock Adjustment Account is debited with _______ and credited with ____
1.Surplus, shortage of stock
2.shortage of stock, surplus
3.excess, loss
4.none of these
Posted Date:-2021-11-16 13:43:47
Stock verification sheets are maintained to record the results of ______
1.Physical verification
2.financial control
3.financial verification
4.quality verification
Posted Date:-2021-11-16 13:44:36
Such expenses which are included (even though they are not incurred) for taking managerial decisions are called _______
1.Notional expenses
2.actual expenses
3.imputed
4.none of these
Posted Date:-2021-11-16 13:49:16
Taylors differential piece rate system provides for higher rate to ______ workers.
1.Inefficient
2.efficient
3.both a & b
4.lazy
Posted Date:-2021-11-16 13:26:05
The budget relating to ______________ must be prepared first and the other budgets should be prepared in the light of that factor.
1.Limiting factor
2.materials
3.labour
4.production
Posted Date:-2021-11-16 13:33:57
The budget that is prepared first of all is _______
1.Cash budget
2.master budget
3.budget for the key factor
4.sales budget
Posted Date:-2021-11-16 13:37:03
The cost of _____ process loss is absorbed in the cost of production of good units.
1.Abnormal
2.normal
3.both a & b
4.None of these
Posted Date:-2021-11-16 13:33:10
Total Labour cost variance=
1.Standard cost of labour - actual cost of labour
2.Standard rate(standard time for actual output-actual time worked)
3.Standard rate (standard time for actual output- actual time paid for)
4.Actual time taken (standard rate-actual rate)
Posted Date:-2021-11-16 13:38:36
Total Material cost variance=
1.Standard cost of materials-actual cost of materials
2.Budgeted cost of materials- actual cost of materials
3.Standard cost of materials-budgeted cost of materials
4.Actual cost of materials- budgeted cost of materials
Posted Date:-2021-11-16 13:38:12
Under Merrick's multiple piece rate system, 120% of the ordinary piece rate is given to workers whose level of performance is between _______ of the standard output.
1.83% and 100%
2.100% and 120%
3.0% and 83%
4.None of these
Posted Date:-2021-11-16 13:26:33
Under Merrick's multiple piece rate system, ordinary piece rate is given to workers whose level of performance is between _______ of the standard output.
1.0% and 100%
2.0% and 120%
3.0% and 83%
4.none of these
Posted Date:-2021-11-16 13:48:27
Warehousing cost is an item of
1.Office overhead
2.distribution overhead
3.distribution overhead
4.works overhead
Posted Date:-2021-11-16 13:28:59
When actual loss is _____ than the estimated loss, the difference between the two is considered to be abnormal gain
1.More
2.less
3.higher
4.None of these
Posted Date:-2021-11-16 13:32:41
When the completion stage of a contract is less than %, the total expenditure on the contract is transferred to ______________ account.
1.Work-in-Progress
2.Profit and loss account
3.miscellaneous account
4.None of these
Posted Date:-2021-11-16 13:30:40
Where raw material is to pass certain stages, before it is converted into finished goods, the method of costing used is ________
1.Job costing
2.Operating costing
3.Process Costing
4.None of these
Posted Date:-2021-11-16 13:32:15
Works cost is a total of _________
1.Indirect material, Indirect labour
2.Direct material, direct labour, direct or chargeable expenses and works expenses
3.Direct material, direct labour
4.Indirect material, Indirect labour, Indirect expenses
Posted Date:-2021-11-16 13:42:55
______ helps in ascertaining costs beforehand.
1.Financial accounting
2.cost accounting
3.management accounting
4.None of these
Posted Date:-2021-11-16 13:39:44
______ is the assessment of the relative worth of jobs within a company whereas ______ is the assessment of the relative worth of man behind the job.
1.Job evaluation , merit rating
2.job analysis, job evaluation
3.job analysis, merit rating
4.None of these
Posted Date:-2021-11-16 13:25:38
______ is the value of a benefit where no actual cost is incurred.
1.Imputed
2.sunk
3.out of pocket
4.none of these
Posted Date:-2021-11-16 13:42:30
_______ Accounting is not only a positive science but also a normative science because it includes techniques of budgetary control and standard costing.
1.Financial
2.Cost
3.both a & b
4.none of these
Posted Date:-2021-11-16 13:43:20
_______ is the amount by which the absorbed overheads fall short of the actual amount of overheads incurred.
1.Over absorption of overheads
2.under absorption of overheads
3.overheads absorption
4.none of these.
Posted Date:-2021-11-16 13:48:50
_______ is the consolidated summary of the various functional budgets.
1.Master Budget
2.Sales budget
3.Performance budget
4.Cash Budget
Posted Date:-2021-11-16 13:34:24
________ Accounting provides information for cost control.
1.Financial
2.Cost
3.Human Resource
4.None of these.
Posted Date:-2021-11-16 13:42:07
________ costing is used in transport undertakings.
1.Process
2.service
3.multiple
4.job
Posted Date:-2021-11-16 13:41:20
________ is an example of long-term budget
1.Cash budget
2.Capital expenditure budget
3.Research and development budget
4.Both b & c
Posted Date:-2021-11-16 13:39:22
________ is concerned with discovery of facts concerning a job and ______ is concerned with ascertaining the money value of a job.
1.Job description, job evaluation
2.job specifications, job evaluation
3.job analysis, job evaluation
4.none of these
Posted Date:-2021-11-16 13:47:55
_________ aids in price fixation.
1.Financial accounting
2.cost accounting
3.management accounting
4.None of these
Posted Date:-2021-11-16 13:40:07
_________ arises where the actual process loss is less than the normal predetermined process loss.
1.Normal loss
2.abnormal loss
3.abnormal gain
4.None of these
Posted Date:-2021-11-16 13:33:30