Cost Accounting
Increased cost of production due to high labor turnover is a result of which of the following factor:
Interruption of production
Coordination between new and old employee to produce more
Increased production due to newly motivated employees
Decrease losses as new employees will be more concerned towards output
Interruption of production
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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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