Articles Tagged: cost

Question: FOH Applied Rate Of Rs. 5.60 Per Machine Hour. During The Year The FOH To Rs. 275,000 And 48,000 Machine Hours Were Used. Which One Of Following Statement Is Correct? a. Overhead was under-applied by Rs.6,200 b. Overhead was over-applied by Rs.6,200 c. Overhead was under-applied by Rs.7,200 d. Overhead was over-applied by Rs.7,200

Question: A Standard Rate Is Paid To The Employee When He Completed His Job? a. In time less than the standard b. In standard time c. In time more than standard d. Both in standard time and more than the standard time

Question: Cost Of Goods Sold ` 30,000, Opening Inventory ` 9,000, Closing Inventory ` 7,800.What Was The  Inventory Turnover Ratio? a. 3.57 times b. 3.67 times c. 3.85 times d. 5.36 times

Question: Cost Accounting Concepts Include All Of The Following Except a. Planning b. Controlling c. Sharing d. Costing

Question: Closing Work In Process Inventory Of Last Year? a. Is treated as Opening inventory for current year b. Is not carried forward to next year c. Become expense in the next year d. Charge to Profit & Loss account

Question: Weighted Average Cost Per Unit Is Calculated By Which Of The Following Formula? a. Cost of goods issued/number of units issued b. Total Cost/Total Units c. Cost of goods manufactured/closing units d. Cost of goods sold/total units  

Question: Nelson Company Has Following FOH Detail.  Budgeted (`) Actual (`) Production Fixed Overheads 36,000 39,000  Production Variable Overheads 9,000 12,000  Direct Labor Hours 18,000 20,000 a. Under applied by `1,000 b. Over applied by ` 1,000 c. Under applied by ` 11,000 d. Over applied by ` 38,000

Question: Which Of The Following Element Must Be Taken Into Account While Calculating Total Earnings Of A Worker Under Different Incentive Wage Schemes? a. Rate per unit b. Units of production c. Extra time taken by employee to complete the production d. Number of workers employed

Question: The Cost Of Electricity Bill Of The Factory Is Treated As? a. Fixed cost b. Variable cost c. Step cost d. Semi variable cost

Question: If Opening Inventory Of Material Is ` 20,000 And Closing Inventory Is ` 40,000.The Average Inventory Amount Will Be: a. 40,000 b. 30,000 c. 20,000 d. 10,000