A bill of material serves the purpose of ______________
1.Material requisition
2.stores ledger
3.material issue analysis sheet
4.none of these
Posted Date:-2021-11-17 10:31:55
Added value is the change in ______________
1.Market value
2.cost
3.income
4.none of the above.
Posted Date:-2021-11-17 10:30:31
An opportunity cost does not involve ______________
1.Cash outlays
2.direct cost
3.indirect cost
4.none of the above
Posted Date:-2021-11-17 12:33:30
Bin card is maintained by the ______________
1.Cost accountant
2.Clerk
3.storekeeper
4.branch accountant
Posted Date:-2021-11-17 10:31:14
Capacity 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 productionx 100 Budgeted standard hours
Posted Date:-2021-11-17 12:54:47
Defectives are that portion of production which can be ______________ at some extra cost of re-operation.
1.Sold
2.rectified
3.purchased
4.none of these
Posted Date:-2021-11-17 10:33:18
Each job has a ______________ prepared for it that bears the job number and which is used to collect all cost data relating to job.
1.Job Time Sheet
2.Job Cost Card
3.Job Ticket
4.Job Account
Posted Date:-2021-11-17 10:44:43
Equivalent units represent the production of a process in terms of ______________ units.
1.Completed
2.total production
3.semi-finished
4.both a& c
Posted Date:-2021-11-17 10:48:49
Fixed cost ______________ in the same proportion in which output changes.
1.does not change
2.changes
3.increases
4.none of these.
Posted Date:-2021-11-17 12:32:14
For a work order, standard time and time taken are 20 hours and 15 hours respectively. Time rate being Rs. 2 per hour, total wages payable under Rowan Premium Plan will be ______________
1.40
2.37.50
3.35
4.none of these
Posted Date:-2021-11-17 12:47:29
If the present cost of the car is Rs.1,00,000 residual value at the end of the 5th year is Rs.20,000, the monthly depreciation is ______________
1.Rs.20,000
2.Rs.16,000
3.Rs.1,333
4.Rs.17,333
Posted Date:-2021-11-17 12:52:21
In case of materials the key factor may be.
1.Insufficient advertising
2.restrictions imposed by quota
3.low market demand
4.shortage of power
Posted Date:-2021-11-17 12:24:10
In electricity supply company uses ______________ as cost unit.
1.Kilo watt hour
2.per household
3.voltage
4.none of these
Posted Date:-2021-11-17 10:46:54
In inter process profits, the output of one process is transferred from one process to another not at ______________ but at ______________
1.Market price, actual cost
2.Actual cost, market price
3.both a& b
4.none of these
Posted Date:-2021-11-17 12:53:03
In ______________, two piece rates are set for each job.
1.Merrick's multiple piece rate system
2.Rowan's Premium Plan
3.Taylor's differential piece rate system
4.none of these
Posted Date:-2021-11-17 10:40:28
Last in first out method is suitable in times of ______________
1.Rising prices
2.falling prices
3.fluctuating prices
4.none of these
Posted Date:-2021-11-17 12:34:47
Management by exception is exercising control over ______________
1.Costs
2.Favourable items
3.Unfavourable items
4.all of these
Posted Date:-2021-11-17 12:56:09
Material control does not cover the following stage.
1.Purchase of materials
2.storing of materials
3.issue of materials
4.production
Posted Date:-2021-11-17 12:34:05
Material Costs of each job are de termined from ______________
1.Material requisition notes
2.bill of materials
3.both a & b
4.none of these
Posted Date:-2021-11-17 12:50:55
Material usage variance = standard price( ______________ )
1.Standard usage-actual usage
2.Standard unit price-actual unit price
3.Standard quantity
4.Actual quantity
Posted Date:-2021-11-17 12:26:19
Material Usage Variance=Material Mix Variance + ______________
1.Material Yield Variance
2.Material cost variance
3.Material price variance
4.Material quantity variance
Posted Date:-2021-11-17 12:56:46
Primary packing is an item of ______________
1.Selling overheads
2.prime cost
3.distribution overheads
4.factory overheads
Posted Date:-2021-11-17 12:49:23
Qualities demanded from the job holder is technically known as ______________
1.Job description
2.job specifications
3.job evaluation
4.both a & b
Posted Date:-2021-11-17 12:36:54
Re-ordering level = Maximum consumption x ______________
1.Average re-order period
2.Maximum usage
3.Maximum re-order period
4.Normal usage
Posted Date:-2021-11-17 12:35:34
Service costing is called as ______________
1.Operation costing
2.Operating costing
3.multiple costing
4.none of these
Posted Date:-2021-11-17 12:51:38
Standards set provide yardsticks against which ______________ are compared.
1.Budgeted costs
2.Estimated costs
3.Actual costs
4.None of these
Posted Date:-2021-11-17 12:25:36
The difference between fixed and variable cost has a special significance in the preparation of
1.Flexible budget
2.master budget
3.cash budget
4.sales budget
Posted Date:-2021-11-17 12:55:31
The limitations of ______________ has led to the development of tandard costing system.
1.Historical costing system
2.cost accounting
3.management accounting
4.none of these
Posted Date:-2021-11-17 12:24:56
The loss incurred on an incomplete contract is transferred to ______________ account.
1.Costing profit and loss account
2.profit and loss account
3.trading account
4.deferred to next year.
Posted Date:-2021-11-17 10:45:21
The method of costing used in a refinery is ______________ costing.
1.Process
2.batch
3.multiple
4.job
Posted Date:-2021-11-17 12:31:28
The process costing is not used in one of the following.
1.Chemical
2.textiles
3.cement
4.oil refining
Posted Date:-2021-11-17 10:49:37
The type of standard best suitable for cost control purpose is
1.Basic standard
2.Ideal standard
3.Normal standard
4.Expected standard
Posted Date:-2021-11-17 12:27:05
Under piece rate system of wage payment, payment is made according to the ______________
1.Quantity of work done
2.time
3.both a&b
4.none of these
Posted Date:-2021-11-17 10:38:00
Under step method of re-apportionment of costs of service departments, the cost of last service department is apportioned only to the ______________
1.Production departments
2.service departments
3.both a & b
4.none of these
Posted Date:-2021-11-17 12:48:06
When actual loss is less than the estimated loss, the difference between the two is considered to be ______________
1.Abnormal gain
2.abnormal loss
3.normal loss
4.income
Posted Date:-2021-11-17 10:47:53
When factory overhead control account has an ending debit balance, factory overhead was ______________
1.Over applied
2.under applied
3.both a & b
4.none of these
Posted Date:-2021-11-17 10:44:01
When ______________ is used on the basis of budgeted overheads and the rate is applied to the actual base, the actual overhead expenses may be different from the charged overheads.
1.A predetermined rate
2.actual rate method of absorption
3.both a & b
4.none of these
Posted Date:-2021-11-17 10:41:09
___________ is maintained to know how the worker's time shown by the time card is spent on various jobs.
1.Daily time sheets
2.weekly time sheets
3.job cards
4.none of the above
Posted Date:-2021-11-17 10:37:20
____________ is used primarily for control of spare parts.
1.ABC Analysis
2.JIT Inventory System
3.VED Analysis
4.Perpetual Inventory System
Posted Date:-2021-11-17 10:32:33
_____________ budget is the most important budget and it forms the basis on which all the other budgets are built up.
1.Production
2.material
3.cash budget
4.sales
Posted Date:-2021-11-17 10:50:25
_____________ is the most suitable method in a transport industry.
1.Operation costing
2.Service costing
3.Process costing
4.Job costing
Posted Date:-2021-11-17 10:45:59
______________ budget gives an estimate of the anticipated receipts and payment of cash during the budget period.
1.Sales
2.Production
3.Cash
4.Master
Posted Date:-2021-11-17 12:53:45
______________ budget gives differentbudgeted costs for different levels of activity.
1.Master
2.Fixed
3.Flexible
4.all of these
Posted Date:-2021-11-17 10:51:11
______________ cost is irrecoverable cost.
1.marginal
2.out of pocket
3.Sunk
4.none of these
Posted Date:-2021-11-17 12:32:55
______________ costing is a type or technique of costing.
1.Absorption
2.batch
3.multiple
4.job
Posted Date:-2021-11-17 12:29:43
______________ determines the priorities of functional budget.
1.Principal Budget Factor
2.Limiting Factor
3.both a & b
4.none of the above.
Posted Date:-2021-11-17 12:23:30
______________ expenses are excluded from cost.
1.Normal
2.abnormal
3.both a & b
4.none of these
Posted Date:-2021-11-17 12:48:48
______________ expenses are partly fixed and partly variable.
1.All expenses
2.variable
3.fixed
4.semi-variable
Posted Date:-2021-11-17 10:41:53
______________ is the oldest branch of accounting.
1.Financial accounting
2.cost accounting
3.management accounting
4.none of these
Posted Date:-2021-11-17 12:27:46
______________ obviates the necessity for the physical checking of all items of stores at the end of the year and thereby avoids dislocation of production.
1.ABC Analysis
2.JIT Inventory System
3.VED Analysis
4.Perpetual Inventory System
Posted Date:-2021-11-17 12:36:16