__________ budget may be classified into material cost budget, labour cost budget and overhead budget.

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Question:
__________ budget may be classified into material cost budget, labour cost budget and overhead budget.

1.Cost of Production

2.purchase

3.sales

4.Cash

Posted Date:-2021-11-17 08:24:20

More MCQS Questions and answers

  1. A favourable variance will arise when capital revenues are ______________ than expected.
  2. Abnormal cost is ______________
  3. Activity Ratio=
  4. An input of 5000kg of material introduced into the process and the expected loss is 8% and if the actual output from the process is 4300, the abnormal loss is ______________ kg
  5. Average unit cost for each process is calculated by dividing the ______________ by ______________
  6. Basis of apportionment of welfare department expenses is ____
  7. Basis of apportionment of welfare department expenses is _________
  8. Boiler house costing is an example of ______________ costing
  9. Cost accounting disclose ______
  10. Cost accounting provides data for managerial ______________
  11. Economic Batch Quantity is an important point to be determined in industries where ______________ costing is employed.
  12. For conducting _______ workers are studied at their jobs and all their movements and motions are noted.
  13. Idle time variance is ______
  14. If the amount of work certified is less than ______________ of the contract price, then no profit should be taken to Profit & Loss Account.
  15. In process costing, the abnormal loss is treated as _______ cost and written off to profit & loss account.
  16. Labour cost variance is the difference between standard cost of labour and ______________
  17. Labour rate variance is computed by multiplying the
  18. Maintenance charges are in the nature of ______________ expenses.
  19. Market price method is considered to be the best method when _______
  20. Material mix variance = standard cost of standard mix - _____
  21. Operating costing is also known as ______________ costing.
  22. Overhead expenses can be classified according to:
  23. Period costs charged to ______________
  24. Sales budget is a
  25. Standard costs is _______
  26. Telephone expense is ______________ expense.
  27. The budget which commonly takes the form of budgeted profit and loss account and balance sheet is
  28. The deviation of the actual cost or profit or sales from the standard cost or profit or sale is known as ______________
  29. The ordinary trading account is a locked storehouse of most valuable information to which cost system is the ______
  30. The primary difference between a fixed budget and a variable(flexible) budget is that a fixed budget:
  31. The technique of standard costing may not be applicable in case of
  32. The total of all direct expenses is known as _______ cost.
  33. The total variable cost ______ in total proportion to output.
  34. Three types of standards are _______
  35. Under applied or over applied factory overhead should be
  36. Variable cost increases with _______ in output.
  37. Variable cost per unit ______________
  38. Volume variance arises because of :
  39. When actual loss is ______________ than the estimated loss, the difference between the two is considered to be abnormal loss.
  40. ____ is a budget which is updated continuously by adding a further period (a month/quarter) and deducting a corresponding earlier period.
  41. _____. is most suitable when quality of work is of prime importance.
  42. ______ costing is applicable to printers.
  43. ______ is a summary of all function budgets in a Capsule form.
  44. ______ process loss should be transferred to costing profit & loss account.
  45. ______ represents that quantity of material which is normally ordered when a particular material reaches reordering level.
  46. _______ is a technique of material cost control which leads to low carrying cost as a result of low investment in inventory
  47. __________ budget may be classified into material cost budget, labour cost budget and overhead budget.
  48. __________ does not form part of production.
  49. __________ is the excess of overheads absorbed over the actual amount of overheads incurred.
  50. ___________ is a post mortem of past costs.
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