Cost Accounting
BDH produced 30,500 units of Mi (a product). Each unit of Kisty takes two units of component L. Component L is budgeted to cost $ 12 per unit. Current inventory of L is 4,000 units. BDH wants 6,000 units of L on hand at the end of the next year. How much will the direct materials budget show as the cost of materials to be purchased:
756000
390000
684000
330000
390000
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Where the applied FOH cost is greater than the actual FOH cost it is:A. Unfavorable variance
B. Favorable variance
C. Normal variance
D. Budgeted variance
Cost accounting department prepares ___________ that helps the in preparing final accounts.
A. Cost sheets
B. Cost of goods sold statement
C. Cost of production Report
D. Material requisition form
Net sales = Sales less:
A. Sales returns
B. Sales discounts
C. Sales returns and allowances
D. Sales returns and allowances and sales discounts
The journal entry of purchase of stock under periodic inventory system would be?
A. Inventory to Cash
B. Cash to Purchases
C. Purchases to Inventory
D. None of the given options
If, Gross profit = Rs. 40,000 GP Margin = 20% of sales What will be the value of cost of goods sold?
A. Rs. 160,000
B. Rs. 120,000
C. Rs. 40,000
D. Rs. 90,000
Which of the following is to be called product cost
A. Material cost
B. Labor cost
C. FOH cost
D. All of these
The Process of cost apportionment is carried out so that:
A. Cost may be controlled
B. Cost unit gather overheads as they pass through cost centers
C. Whole items of cost can be charged to cost centers
D. Common costs are shared among cost centers
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