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Cost Accounting
The model, in which the produced unit doubles every time as the cumulative average time per unit decreases, by a constant percentage can be classified as
cumulative average time learning model
cumulative mean learning model
cumulative weighted learning model
cumulative average pricing model
Author:
rikazzz
Comment
Cost Accounting
Which of the following statement is correct regarding reasons of variance?
Difference between capacity level over which overhead absorption rate is calculated and capacity level attained
Difference between FOH cost budgeted or estimated over which overhead absorption rate and FOH actually incurred
Difference between the actual level which company achieved and budget level which company determined
All of these
Author:
rikazzz
Comment
Cost Accounting
The flexible budget amount is $57000 and flexible budget variance is $14000, then actual result amount will be
$61,000
$71,000
$43,000
$24,000
Author:
rikazzz
Comment
Cost Accounting
The prime cost is $50000 and the direct manufacturing labor is $10000, then the direct material cost will be
$40,000
$60,000
$52,000
$20,000
Author:
rikazzz
Comment
Cost Accounting
If the contribution margin per unit is $800 and the selling price is $20000, then the contribution margin percentage will be
17%
14%
4%
25%
Author:
rikazzz
Comment
Cost Accounting
In an activity based costing implementation, the product’s diverse demand is based on
batch size
complexity
process steps
all of above
Author:
rikazzz
Comment
Cost Accounting
The low level managers in organizations are to make decisions about
net income irrelevancy
operating income maximization
operating income minimization
operating income relevancy
Author:
rikazzz
Comment
Cost Accounting
The second step in processing costing system is to
summarize total costs
compute cost for each equivalent unit
summarize flow of output
compute output in units
Author:
rikazzz
Comment
Cost Accounting
A Local Authority is preparing cash Budget for its refuse disposal department. Which of the following items would not be included in the cash budget:
Capital cost of a new collection vehicle
Depreciation of the machinery
Operatives wages
Fuel for the collection Vehicles
Author:
rikazzz
Comment
Cost Accounting
If the standard cost is higher than the actual cost than the difference would be known as:
Positive
Favorable
Negative
Adverse
Author:
rikazzz
Comment
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