If conversion cost is $25000 and direct manufacturing labour cost is $17000, then manufacturing overhead cost would be
If conversion cost is $25000 and direct manufacturing labour cost is $17000, then manufacturing overhead cost would be
An ability of an accounting system, to point out use of resources in every step of production process is called
An ability of an accounting system, to point out use of resources in every step of production process is called
A helpful technique, for accurate forecasts about costs to be incurred in future is a part of
A helpful technique, for accurate forecasts about costs to be incurred in future is a part of
Model which states decline in extra time needed to produce last unit, every time for cumulative quantity of doubled units produced is classified as
Model which states decline in extra time needed to produce last unit, every time for cumulative quantity of doubled units produced is classified as
Relationship based on unrelated level of activity and past data of cost is measured with help of
Relationship based on unrelated level of activity and past data of cost is measured with help of
An inward delivery charges and custom duties are classified as
An inward delivery charges and custom duties are classified as
Direct manufacturing labour costs is $40000 and manufacturing overhead cost is $7000, then conversion cost would be
Direct manufacturing labour costs is $40000 and manufacturing overhead cost is $7000, then conversion cost would be
Cost which is related to specific cost object and cannot be economically traceable is classified as
Cost which is related to specific cost object and cannot be economically traceable is classified as
Range, in which relationship exists between level of activity or total cost is called
Range, in which relationship exists between level of activity or total cost is called
Cost of product failure, error prevention and appraisals can be classified under
Cost of product failure, error prevention and appraisals can be classified under
Cost pattern, when production inputs are to be used in discrete functions, but quantities are fractional, will be categorized as
Cost pattern, when production inputs are to be used in discrete functions, but quantities are fractional, will be categorized as
Relationship between cost and cost drivers is
Relationship between cost and cost drivers is
If direct material cost is $5500 and prime cost is $25000, then direct manufacturing labour would be
If direct material cost is $5500 and prime cost is $25000, then direct manufacturing labour would be
Required rate of return, is multiplied per unit cost of purchased units to calculate
Required rate of return, is multiplied per unit cost of purchased units to calculate
A push through system, according to which goods are manufactured for finished inventory solely, on basis of forecasted demand can be classified as
A push through system, according to which goods are manufactured for finished inventory solely, on basis of forecasted demand can be classified as
If economic order quantity for one year is 15000 packages and demand in units for one year are 1500 units, then number of deliveries in a year will be
If economic order quantity for one year is 15000 packages and demand in units for one year are 1500 units, then number of deliveries in a year will be
Relationship between change in activity and change in total costs is considered as
Relationship between change in activity and change in total costs is considered as
In production, variables such as level of activity or volume of company activity are known as
In production, variables such as level of activity or volume of company activity are known as
An implementation of activity based costing would be possible only if accountants find
An implementation of activity based costing would be possible only if accountants find
If demand of one year is 25000 units, relevant ordering cost for each purchase order is $210, carrying cost of one unit of stock is $25 then economic order quantity will be
If demand of one year is 25000 units, relevant ordering cost for each purchase order is $210, carrying cost of one unit of stock is $25 then economic order quantity will be
In cause and effect relationship between cost level and cost driver, inflationary price effects are removed by dividing cost through
In cause and effect relationship between cost level and cost driver, inflationary price effects are removed by dividing cost through
Large residual term and negative slope of line indicate
Large residual term and negative slope of line indicate
period cost, which consists income statement of manufacturing companies belongs to
period cost, which consists income statement of manufacturing companies belongs to
Direct cost assignment for specific cost object is classified as
Direct cost assignment for specific cost object is classified as
If relevant incremental costs are $5000 and relevant opportunity cost of invested capital is $2500, then relevant inventory carrying costs would be
If relevant incremental costs are $5000 and relevant opportunity cost of invested capital is $2500, then relevant inventory carrying costs would be
Purchase order lead time is multiplied to number of units is sold per unit of time to calculate
Purchase order lead time is multiplied to number of units is sold per unit of time to calculate
Wages paid to workers of factory are termed as
Wages paid to workers of factory are termed as
Number of observations in regression analysis is considered as
Number of observations in regression analysis is considered as
Wages and other benefits, provided to assembly line workers and operators of machine are classified under
Wages and other benefits, provided to assembly line workers and operators of machine are classified under
Evaluation criteria of regression equation must be considered as
Evaluation criteria of regression equation must be considered as
If demand in units is 18000, relevant ordering cost for each year is $150 and an order quantity is 1500, then annual relevant ordering cost would be
If demand in units is 18000, relevant ordering cost for each year is $150 and an order quantity is 1500, then annual relevant ordering cost would be
For estimation of each cost pool for cost function, attention must be paid to
For estimation of each cost pool for cost function, attention must be paid to
Costs associated with storage of finished goods such as spoilage, obsolescence and insurance of goods are classified as
Costs associated with storage of finished goods such as spoilage, obsolescence and insurance of goods are classified as
Conversion cost is subtracted from manufacturing overhead cost is to calculate the
Conversion cost is subtracted from manufacturing overhead cost is to calculate the
A technique for estimating regression line, which minimizes sum of vertical deviations squares is classified as
A technique for estimating regression line, which minimizes sum of vertical deviations squares is classified as
An acquisition cost of raw material is to be used in manufacturing, and becoming a component of cost object is classified as
An acquisition cost of raw material is to be used in manufacturing, and becoming a component of cost object is classified as
Supplies, plant maintenance, plant rent, plant insurance and cleaning labour comes under which type of costs?
Supplies, plant maintenance, plant rent, plant insurance and cleaning labour comes under which type of costs?
Reorder point is divided by number of sold units for per unit of time to calculate
Reorder point is divided by number of sold units for per unit of time to calculate
Relevant ordering costs are added into relevant carrying costs to calculate
Relevant ordering costs are added into relevant carrying costs to calculate
If required rate of return is 12% and per unit cost of units purchased is $35, then relevant opportunity cost of capital will be
If required rate of return is 12% and per unit cost of units purchased is $35, then relevant opportunity cost of capital will be
Success of cost reduction initiatives are evaluated by accurate
Success of cost reduction initiatives are evaluated by accurate
Cost function, in which cost does not change with any change in level of activity is a part of
Cost function, in which cost does not change with any change in level of activity is a part of
In income statement of merchandising costs, period cost includes all costs which are not related to
In income statement of merchandising costs, period cost includes all costs which are not related to
Balance sheet, in which all costs of product that must be considered as its assets, is said to be
Balance sheet, in which all costs of product that must be considered as its assets, is said to be
Buying of goods or materials for production in a way that they are delivered directly on manufacturing facility of company is called
Buying of goods or materials for production in a way that they are delivered directly on manufacturing facility of company is called
An assumption of specification analysis, which states all values of residuals which are uniformly scattered around regression line is classified as
An assumption of specification analysis, which states all values of residuals which are uniformly scattered around regression line is classified as
Costing system, which omits some of journal entries in accounting system is known as
Costing system, which omits some of journal entries in accounting system is known as
Goodness of fit is used to measure wellness of
Goodness of fit is used to measure wellness of
Process of assigning indirect costs to any specific cost object is known as
Process of assigning indirect costs to any specific cost object is known as
In costing of project, wages paid to workers for unproductive work at time of material shortage is termed as
In costing of project, wages paid to workers for unproductive work at time of material shortage is termed as
Costs which are considered as expenses in accounting period are also known as
Costs which are considered as expenses in accounting period are also known as
A concept used to define learning curve in broader application is called
A concept used to define learning curve in broader application is called
Method of costing that supports creation of value for customer by accounting whole value stream, rather than individual departments or products is classified as
Method of costing that supports creation of value for customer by accounting whole value stream, rather than individual departments or products is classified as
In accounting, resources sacrifice for achieving or fulfil specific objective is known as
In accounting, resources sacrifice for achieving or fulfil specific objective is known as
In assumptions of specific analysis, normality of residuals is satisfied with use of
In assumptions of specific analysis, normality of residuals is satisfied with use of
An average inventory in units is multiplied with annual relevant carrying cost of each unit to calculate
An average inventory in units is multiplied with annual relevant carrying cost of each unit to calculate
An example of shrinkage costs is
An example of shrinkage costs is
In regression analysis, if observed cost value is 50 and predicted cost value is 7, then disturbance term will be
In regression analysis, if observed cost value is 50 and predicted cost value is 7, then disturbance term will be
If an average inventory is 2000 units, annual relevant carrying cost of each unit is $5, then annual relevant carrying cost will be
If an average inventory is 2000 units, annual relevant carrying cost of each unit is $5, then annual relevant carrying cost will be
Systematic flow of services, goods or information from buying material for product delivery to customers is known as
Systematic flow of services, goods or information from buying material for product delivery to customers is known as
Inventory of final goods that are not yet sold is called
Inventory of final goods that are not yet sold is called
If purchase order lead time is 35 minutes and number of units sold per time is 400 units, then reorder point will be
If purchase order lead time is 35 minutes and number of units sold per time is 400 units, then reorder point will be
Slope coefficient of cost function is zero because it intersects the
Slope coefficient of cost function is zero because it intersects the
Health care premium for workers and pension costs are included in
Health care premium for workers and pension costs are included in
Graphical representation of cost driver data and costs is considered as
Graphical representation of cost driver data and costs is considered as
Decision model to calculate optimal quantity of inventory to be ordered is called
Decision model to calculate optimal quantity of inventory to be ordered is called
Costs are classified as fixed or variable on basis of
Costs are classified as fixed or variable on basis of
Which one of following is main advantage of quantitative method?
Which one of following is main advantage of quantitative method?
Estimation of cost functions, an ignoring information from all points but considering two observation points can be classified as
Estimation of cost functions, an ignoring information from all points but considering two observation points can be classified as
Collection of cost data, according to accounting system in an organized way is classified as
Collection of cost data, according to accounting system in an organized way is classified as
In assumptions testing, violation of constant variance is/ is called
In assumptions testing, violation of constant variance is/ is called
An overtime is considered in cost accounting as
An overtime is considered in cost accounting as
For companies in service sector, cost which is not considerable is
For companies in service sector, cost which is not considerable is
Weak relationship between cost and cost driver is indicated on a regression line, which is
Weak relationship between cost and cost driver is indicated on a regression line, which is
Process of tracing direct costs and allocation of indirect costs is known as
Process of tracing direct costs and allocation of indirect costs is known as
All costs, which are assigned to manufactured products for specific calculations are classified as
All costs, which are assigned to manufactured products for specific calculations are classified as
In quantitative analysis to estimate cost function, fourth step is to
In quantitative analysis to estimate cost function, fourth step is to
Costs of issuing purchase orders, making of delivery records for tracking payments and costs of inspection of items are classified as
Costs of issuing purchase orders, making of delivery records for tracking payments and costs of inspection of items are classified as
Cost which remains unchanged, in proportion to level total volume of production is classified as
Cost which remains unchanged, in proportion to level total volume of production is classified as
An inventory, which consists of partially worked goods or work in progress is called
An inventory, which consists of partially worked goods or work in progress is called
Activities related to coordinating, controlling and planning flow of inventory are classified as
Activities related to coordinating, controlling and planning flow of inventory are classified as
Costs of goods acquired from suppliers is classified as
Costs of goods acquired from suppliers is classified as
Profit forgone by capital investment in inventory rather than investment of capital to somewhere else is classified as
Profit forgone by capital investment in inventory rather than investment of capital to somewhere else is classified as
Relevant incremental costs are added into relevant opportunity cost of capital to calculate
Relevant incremental costs are added into relevant opportunity cost of capital to calculate
In accounting, cost incurred in past or in historical financial statements is classified as
In accounting, cost incurred in past or in historical financial statements is classified as
Stage in manufacturing cycle at which journal entries are made in system of accountancy is known as
Stage in manufacturing cycle at which journal entries are made in system of accountancy is known as
Deviations between estimated regression line and vertical deviations are classified as
Deviations between estimated regression line and vertical deviations are classified as
Cost which is changed in proportion to level total volume is
Cost which is changed in proportion to level total volume is
In accounting, cost which is predicted to be incurred or future cost is known as
In accounting, cost which is predicted to be incurred or future cost is known as
Conversion cost is subtracted from direct manufacturing labour cost is to calculate the
Conversion cost is subtracted from direct manufacturing labour cost is to calculate the
If direct material cost is $85000 and direct manufacturing labour is $25000, then prime cost would be
If direct material cost is $85000 and direct manufacturing labour is $25000, then prime cost would be
Prime cost is $50000 and direct manufacturing labour is $10000, then direct material cost will be
Prime cost is $50000 and direct manufacturing labour is $10000, then direct material cost will be
Direct material cost is $75000 and direct manufacturing labour is $20000, then prime cost would be
Direct material cost is $75000 and direct manufacturing labour is $20000, then prime cost would be
Which of following is an example of purchasing costs?
Which of following is an example of purchasing costs?
Material or anything for which cost is to be measured is known as
Material or anything for which cost is to be measured is known as
Labour which works as forklift truck, plant guards and rework labour is classified as
Labour which works as forklift truck, plant guards and rework labour is classified as
Cost, which is related to specific cost object and economically traceable, will be classified as
Cost, which is related to specific cost object and economically traceable, will be classified as
If relevant opportunity cost of capital is $2950 and relevant carrying cost of inventory is $6700, then relevant incremental cost will be
If relevant opportunity cost of capital is $2950 and relevant carrying cost of inventory is $6700, then relevant incremental cost will be
Type of relationship stating "how changes in cost driver drives cause changes in cost" will be termed as
Type of relationship stating "how changes in cost driver drives cause changes in cost" will be termed as
Number of purchase orders for each year is multiplied to relevant ordering cost for each purchase order to calculate
Number of purchase orders for each year is multiplied to relevant ordering cost for each purchase order to calculate
In specification analysis, assumptions related to residuals states must be
In specification analysis, assumptions related to residuals states must be
