All Indirect cost is charged/record in the head of
Select correct option:
Prime cost
FOH cost
Direct labor cost
None of the given options
Closing work in process Inventory of last year:
Select correct option:
Is treated as Opening inventory for current year
Is not carried forward to next year
Become expense in the next year
Charge to Profit & Loss account
Examples of industries that would use process costing include all of the following EXCEPT:
Select correct option:
Beverages
Food
Hospitality
Petroleum
The difference between unit product costs under absorption costing as compared to variable costing is:
Select correct option:
Direct materials and direct labor
Fixed and variable portions of manufacturing overhead
Fixed manufacturing overhead only
Variable manufacturing overhead only
An assumption of CVP analysis is that a change in total costs is caused because of a change in which of the following factor?
Select correct option:
Direct labor cost
The number of units sold
Sales commission per unit
Direct material cost
The flux method of labor turnover denotes:
Select correct option:
Workers appointed against the vacancy caused due to discharge or quitting of the organization
Workers appointed in replacement of existing employees
Workers employed under the expansion schemes of the company
The total change in the composition of labor force
The compnent of Factory overhead are as follow
Select correct option:
Direct material + Indirect material + Direct expences
Indirect material + Indirect labor + Others indirect cost
Direct material + Indirect expences + Indirect labor
Direct labor + Indirect labor + Indirect expences
A Blanket Rate is:
Select correct option:
A single rate which used throughout the organisation departments
A double rates which used throughout the organisation departments
A single rates which used in different departments of the organisation
None of the given options
A chemical process has normal wastage of 10% of input. In a period, 2,500 Kg of material were input and there was abnormal loss of 75 Kg. What quantity of good production was achieved?
Select correct option:
2,175 kg
2,250 kg
2,425 kg
2,500 kg
The main difference between the profit center and investment center is:
Select correct option:
Decision making
Revenue generation
Cost incurrence
Investment
A spending variance for factory overhead is the difference between actual factory overhead cost and factory overhead cost that should have been incurred for actual hours worked and results from:
Select correct option:
Price difference of FOH costs
Quantity differences of FOH costs
Price and quantity differences for FOH costs
Difference caused by production volume variations
The danger Level can be calculated ?
Select correct option:
Average consumption x Lead time to get urgent supplies
Normal consumption x Lead time to get urgent supplies
Maximum consumption x Lead time to get urgent supplies
Minimum consumption x Lead time to get urgent supplies
In furniture manufacturing use of nail, pins, glue, and polish which use to increase its esteem value that cost is treated as:
Select correct option:
Direct material cost
Indirect material cost
FOH cost
Prime cost
The Economic order quantity can be calculated by:
Select correct option:
Formula Method
Table Method
Graph Method
All of the given
Production volume of 1,200 units cost incurred Rs. 10,000 and production volume of 1,400 units cost incurred Rs.20, 000. The variable cost per unit would be?
Select correct option:
Rs. 50.00 per unit
Rs. 8.33 per unit
Rs. 14.20 per unit
Rs. 100 per unit
The point at which the cost line intersects the sales line will be called:
Select correct option:
Budgeted sales
Break Even sales
Margin of safety
Contribution margin