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Cost Accounting
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Cost Accounting
If the beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are
1800 units
1500 units
1300 units
1500 units
Author:
rikazzz
Comment
Cost Accounting
Which of the following is an example of statutory deductions?
Deduction as income tax
Deduction s social security
Subscriptions to a trade union
None of these
Author:
rikazzz
Comment
Cost Accounting
If an actual input price is $70 and the budgeted input price is $40, then the price variance will be
$120
$50
$110
$30
Author:
rikazzz
Comment
Cost Accounting
The products or services that are transferred between different subunits of a company are classified as
mobile products
dysfunctional products
intermediate product
territorial product
Author:
rikazzz
Comment
Cost Accounting
An amount of additional cost incurred for any particular activity is classified as
incremental cost
differential cost
dependent cost
independent cost
Author:
rikazzz
Comment
Cost Accounting
Total cost of a product is Rs. 10,000 and Profit is 25% on Selling Price, Profit is:
Rs. 2,500
Rs. 3,000
Rs. 3,333
Rs. 2,000
Author:
rikazzz
Comment
Cost Accounting
The formal way of differentiating, between non-random and random variations, in manufacturing process is classified as
statistical process control
statistical failure control
statistical control of prevention cost
statistical control of sunk cost
Author:
rikazzz
Comment
Cost Accounting
A concept which explains a received money in present time, is more valuable than money received in future is called
lead value of money
storage value of money
time value of money
cash value of money
Author:
rikazzz
Comment
Cost Accounting
The main purpose of cost accounting is to:
Maximize profits
Help in inventory valuation
Maximize profits
Aid in the fixation of selling price
Author:
rikazzz
Comment
Cost Accounting
The major approaches to make decisions about pricing include
market based
sunk cost
cost based
both a and c
Author:
rikazzz
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