Cost Unit is defined as:
Cost Unit is defined as:
Variable cost per unit ________.
Variable cost per unit ________.
Departmentalization of overhead is known as ________.
Departmentalization of overhead is known as ________.
Wage sheet is prepared by ________.
Wage sheet is prepared by ________.
Input is 10,000 units and normal loss is 20% of input and abnormal loss is 400 units What is actual output?
Input is 10,000 units and normal loss is 20% of input and abnormal loss is 400 units What is actual output?
Inter process profits are ________.
Inter process profits are ________.
________. is refers to the verification of cost accounts and check on the adherence to the cost accounting plan.
________. is refers to the verification of cost accounts and check on the adherence to the cost accounting plan.
Cost of process Rs1,60,000 and profit to be charged on the transfer price is 20% What is the inter process profit?
Cost of process Rs1,60,000 and profit to be charged on the transfer price is 20% What is the inter process profit?
Abnormal process loss can be transferred to ________.
Abnormal process loss can be transferred to ________.
Time wages are paid on the basis of ________.
Time wages are paid on the basis of ________.
Balance of abnormal gain a/c is transferred to ________.
Balance of abnormal gain a/c is transferred to ________.
In case of complete contract, the whole amount of profit is transferred to ________.
In case of complete contract, the whole amount of profit is transferred to ________.
In__________ the workers are paid on the basis of hourly daily,weekly rate
In__________ the workers are paid on the basis of hourly daily,weekly rate
Allotment of overhead incurred for a particular cost centre to that specific cost centre is ________.
Allotment of overhead incurred for a particular cost centre to that specific cost centre is ________.
Responsibility Centre can be categorised into:
Responsibility Centre can be categorised into:
Insurance and garage rent is ________.
Insurance and garage rent is ________.
Depreciation of plant can be apportioned on the basis of ________.
Depreciation of plant can be apportioned on the basis of ________.
Number of methods available for calculation of Labour turnover is ________.
Number of methods available for calculation of Labour turnover is ________.
Increase in total variable cost is due to ________.
Increase in total variable cost is due to ________.
Those cost which is incurred to prevent the labour turnover __________.
Those cost which is incurred to prevent the labour turnover __________.
Which of the following is a service department?
Which of the following is a service department?
This is a level at which normal issue of material are stopped, but issued under special condition It is ________.
This is a level at which normal issue of material are stopped, but issued under special condition It is ________.
Under absorption of overhead expenses in cost accounting results in _________.
Under absorption of overhead expenses in cost accounting results in _________.
Job costing method is the most suitable method for ________.
Job costing method is the most suitable method for ________.
The process of allocating and apportioning the costs on suitable basis to all the departments is _______.
The process of allocating and apportioning the costs on suitable basis to all the departments is _______.
100 units are introduced in a process in which normal loss is 5% of input If actual output is 97 then there is ________.
100 units are introduced in a process in which normal loss is 5% of input If actual output is 97 then there is ________.
Which of the following item of expenses will not appear in cost accounting.
Which of the following item of expenses will not appear in cost accounting.
Overhead can be classified according to function-wise as ________.
Overhead can be classified according to function-wise as ________.
Value of normal loss is charged to ________.
Value of normal loss is charged to ________.
________ is a preventive function.
________ is a preventive function.
Bad debt is an example of ________.
Bad debt is an example of ________.
Operating costing is more suitable for ________ industries
Operating costing is more suitable for ________ industries
The method in which issue prices of material is computed by dividing total purchase cost of material in stock with total quantity in stock ________.
The method in which issue prices of material is computed by dividing total purchase cost of material in stock with total quantity in stock ________.
The basis for determining profit to be taken into account on incomplete contract is ________.
The basis for determining profit to be taken into account on incomplete contract is ________.
Overvaluation of opening stock in financial accounting results ________.
Overvaluation of opening stock in financial accounting results ________.
Direct labour means ________.
Direct labour means ________.
When standard output is 10 units per hour and actual output is 12 units per hour, the efficiency is ________.
When standard output is 10 units per hour and actual output is 12 units per hour, the efficiency is ________.
Expenditure over and above prime cost is known as ________.
Expenditure over and above prime cost is known as ________.
Sundry overhead expenses may be apportioned in the ratio of ________.
Sundry overhead expenses may be apportioned in the ratio of ________.
Under ABC method of material control, the material are classified according to __________.
Under ABC method of material control, the material are classified according to __________.
Labour cost is the second element of ________.
Labour cost is the second element of ________.
Difference between attendance time and job time is _______.
Difference between attendance time and job time is _______.
Which of the following method of wage payment is most suitable where the speed of production is beyond the control of worker?
Which of the following method of wage payment is most suitable where the speed of production is beyond the control of worker?
The allotment of whole item of cost to cost centre or cost units is called _________.
The allotment of whole item of cost to cost centre or cost units is called _________.
Factory overhead is Rs 3,00,000 and direct material cost is Rs 5,00,000 What is the overhead rate under direct material cost method?
Factory overhead is Rs 3,00,000 and direct material cost is Rs 5,00,000 What is the overhead rate under direct material cost method?
A cost unit is ________.
A cost unit is ________.
If any by-product is produced and sold it is credited to ________.
If any by-product is produced and sold it is credited to ________.
Normal idle time __________.
Normal idle time __________.
If the actual loss is more than the estimated normal loss, then it is _________.
If the actual loss is more than the estimated normal loss, then it is _________.
Differential piece wages means _______.
Differential piece wages means _______.
Under which plan efficiency is shared by employee and employer equally?
Under which plan efficiency is shared by employee and employer equally?
Overhead is also known as ________.
Overhead is also known as ________.
Actual loss is less than the predetermined normal loss, it is ________.
Actual loss is less than the predetermined normal loss, it is ________.
Bonus under Halsey plan is paid ________.
Bonus under Halsey plan is paid ________.
Under which method of wage payment, wages are influenced by idle time?
Under which method of wage payment, wages are influenced by idle time?
When output of earlier process is transferred at a profit to the subsequent process, it is ________.
When output of earlier process is transferred at a profit to the subsequent process, it is ________.
50 units are processed at a cost of Rs 80, normal loss is 10%, each unit carries a scrap value of 25 paise If output is 40 units, the value of abnormal loss will be _________.
50 units are processed at a cost of Rs 80, normal loss is 10%, each unit carries a scrap value of 25 paise If output is 40 units, the value of abnormal loss will be _________.
Work uncertified is ________.
Work uncertified is ________.
Cost of contract and profit or loss thereon are determined by preparing ________.
Cost of contract and profit or loss thereon are determined by preparing ________.
Merricks multiple piece rate system has _______.
Merricks multiple piece rate system has _______.
Halsey premium plan is ________.
Halsey premium plan is ________.
Packing cost is ________.
Packing cost is ________.
Fixed cost is a cost:
Fixed cost is a cost:
Piece workers are paid on the basis of ________.
Piece workers are paid on the basis of ________.
Profit to be transferred to profit and loss a/c, if the contract is complete to the extent of only 20% is ________.
Profit to be transferred to profit and loss a/c, if the contract is complete to the extent of only 20% is ________.
This is a point at which the store keeper should initiate purchase requisition for fresh supply It is ________.
This is a point at which the store keeper should initiate purchase requisition for fresh supply It is ________.
Which of the following will be affected by normal loss?
Which of the following will be affected by normal loss?
When cash is received from contractee which a/c should be credited.
When cash is received from contractee which a/c should be credited.
Which method of costing is best suited for interior decoration.
Which method of costing is best suited for interior decoration.
Under which method the rate of wages are linked with the cost of living index?
Under which method the rate of wages are linked with the cost of living index?
Direct material is a ________.
Direct material is a ________.
The type of process loss that should not affect the cost of inventory value is _________.
The type of process loss that should not affect the cost of inventory value is _________.
Under Gantts task and bonus plan no bonus is payable to a worker if his efficiency is less than ________.
Under Gantts task and bonus plan no bonus is payable to a worker if his efficiency is less than ________.
Directors remuneration and expenses form part of ________.
Directors remuneration and expenses form part of ________.
The process of setting standards and comparing actual performance with standards with a view to control the cost is ________.
The process of setting standards and comparing actual performance with standards with a view to control the cost is ________.
When two products are simultaneously produced in a process and one of them has comparatively high value and other is of low value , the low value product is called __________.
When two products are simultaneously produced in a process and one of them has comparatively high value and other is of low value , the low value product is called __________.
An example of fixed cost ________.
An example of fixed cost ________.
Reorder level = ________.
Reorder level = ________.
Most appropriate basis for the apportionment of power is ________.
Most appropriate basis for the apportionment of power is ________.
When the actual overhead is less than the absorbed overhead it is ________.
When the actual overhead is less than the absorbed overhead it is ________.
Which of these is not an objective of Cost Accounting?
Which of these is not an objective of Cost Accounting?
Indirect materials can be apportioned on the basis of ________.
Indirect materials can be apportioned on the basis of ________.
Time and motion study is conducted by ________.
Time and motion study is conducted by ________.
Process a/c is ________.
Process a/c is ________.
The physical distance covered by a vehicle is measured in terms of ________.
The physical distance covered by a vehicle is measured in terms of ________.
Cost of idle time arising due to non availability of raw material is _______.
Cost of idle time arising due to non availability of raw material is _______.
Contract costing is most appropriate method of costing for ________.
Contract costing is most appropriate method of costing for ________.
Absorption means ________.
Absorption means ________.
A profit centre is a centre ____________.
A profit centre is a centre ____________.
Cost accounting differs from financial accounting in respect of ________.
Cost accounting differs from financial accounting in respect of ________.
Which method of costing can be used in furniture manufacture industry?
Which method of costing can be used in furniture manufacture industry?
The amount paid to sub-contractor is ________.
The amount paid to sub-contractor is ________.
The costing method which can be used in industry where the product pass through different processes is known as ________.
The costing method which can be used in industry where the product pass through different processes is known as ________.
The term cost refers to ________.
The term cost refers to ________.
Works overhead is Rs 40,000, total machine hours is 8500 hours and time allowed for machine setting is 500 houRs What is the machine rate?
Works overhead is Rs 40,000, total machine hours is 8500 hours and time allowed for machine setting is 500 houRs What is the machine rate?
Factory overhead is also called as ________.
Factory overhead is also called as ________.
Operating cost is usually ascertained through ________.
Operating cost is usually ascertained through ________.
In a machine dominated industry which method of overhead absorption is suitable?
In a machine dominated industry which method of overhead absorption is suitable?
The process of redistribution of service department costs to production departments is ________.
The process of redistribution of service department costs to production departments is ________.
Annual usage is 6000 units @ Rs 20 per unit Cost of placing an order is Rs 60 and annual carrying cost of one unit is 10% of inventory value EOQ = __________.
Annual usage is 6000 units @ Rs 20 per unit Cost of placing an order is Rs 60 and annual carrying cost of one unit is 10% of inventory value EOQ = __________.
