The The components of the prime cost are

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Question:
The The components of the prime cost are

1.Direct Material + Direct Labor + Other Direct Cost

2.Direct Labor + Other Direct Cost + FOH

3.Direct Labor + FOH

4.None of the given options

Posted Date:-2021-11-16 05:33:33

More MCQS Questions and answers

  1. Cost of abnormal wastage is:
  2. When prices are rising over time, which of the following inventory costing methods will result in the lowest gross margin/profits?
  3. A Local Authority is preparing cash Budget for its refuse disposal department. Which of the following items would not be included in the cash budget?
  4. A process costing system for J Co used an input of 3,500Kg of materials at Rs20 per Kg and labour hours of 2,750 at Rs25 per hour. Normal loss is 20% and losses can be sold at a scrap value of Rs5per Kg. Output was 2,950 Kg. What is the value of the output?
  5. A profit centre is a centre
  6. A typical factory overhead cost is _____
  7. A worker is allowed 60 hours to complete the job on a guaranteed wage of Rs. 10 per hour. Under the Rowan Plan, he gets an hourly wage of Rs. 12 per hour. For the same saving in time, how much he will get under the Halsey Plan?
  8. An organization sold units 4000 and have closing finished goods 3500 units and opening finished goods units were 1000.The quantity of unit produced would be ______
  9. Annual requirement is 7800 units; consumption per week is 150 units. Unit price Rs 5, order cost Rs 10 per order. Carrying cost Rs 1 per unit and lead time is 3 week, The Economic order quantity would be _____
  10. Cost accounting concepts include all of the following EXCEPT ________
  11. Cost of production report is a _____
  12. Costs associated with the labour turnover can be categorised into:
  13. Describe the cost unit applicable to the Bicycle industry:
  14. Direct materials cost is Rs. 80,000. Direct labor cost is Rs. 60,000. Factory overhead is Rs. 90,000. Beginning goods in process were Rs. 15,000. The cost of goods manufactured is Rs. 245,000. What is the cost assigned to the ending goods in process?
  15. Economic order quantity is that quantity at which cost of holding and carrying inventory is:
  16. Examples of industries that would use process costing include all of the following EXCEPT
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  19. For which one of the following industry would you recommend a Job Order Costing system?
  20. For which one of the following industry would you recommend a Process Costing system?
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  22. In the case of plant, the limiting factor may be:
  23. Inventory control aims at _______
  24. Jan 1; finished goods inventory of Manuel Company was Rs.3, 00,000. During the year Manuel’s cost of goods sold was Rs. 19, 00,000, sales were Rs. 2, 000,000 with a 20% gross profit. Calculate cost assigned to the December 31; finished goods inventory.
  25. Opening work in process inventory can be calculated as under
  26. Opportunity cost is the best example of _____
  27. Percentage of Margin of Safety can be calculated in which one of the following ways?
  28. Period costs are ______
  29. Prime cost + Factory overhead cost is ________
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  39. The The components of the prime cost are
  40. The the main difference between the profit center and investment center is
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