Cost Accounting

Cost Accounting
The costing, which explains how and when scrap affects the operating income of company is classified as
inventory costing
conversion costing
normal scrap costing
abnormal scrap costing
Author: rikazzz Comment
Cost Accounting
The budget, which highlights the difference between actual quantity and budgeted quantity is termed as
actual cost budget
flexible budget variance
inflexible budget
hourly budget
Author: rikazzz Comment
Cost Accounting
If the production is greater than sales, then operating income under variable costing is
negative income value
lower income
higher income
zero dividends
Author: rikazzz Comment
Cost Accounting
While deducting Income Tax from the gross pay of the employee, the employer acts as a (an) ____________ for Income Tax Department.
Agent of his own Company
Paid tax collection agent
Unpaid tax collection agent
None of these
Author: rikazzz Comment
Cost Accounting
A situation when groups and individuals work together for achieving a particular goal can be classified as
motivation
goal congruence
effort
autonomy
Author: rikazzz Comment
Cost Accounting
The costing and allocating situation, in which the indirect cost allocated amount is less than actually incurred amount is known as
over allocated budget
under allocated budget
under allocated indirect cost
over allocated direct cost
Author: rikazzz Comment
Cost Accounting
The higher plant leasing, higher administrative costs and higher depreciation on equipment and plants are all the factors of
favorable spending variance
unfavorable spending variance
favorable price variance
unfavorable price variance
Author: rikazzz Comment
Cost Accounting
The factors that accelerate the process of refining a costing system include
increase in product diversity
increase in indirect costs
product market competitions
all of above
Author: rikazzz Comment
Cost Accounting
To calculate fixed overhead flexible budget variance, an actual incurred cost is subtracted from
flexible budget amount
constant amount
variable amount
production amount
Author: rikazzz Comment
Cost Accounting
In variable costing, the change in operating income is driven only by changes in
quantity of units sold
quantity of units manufactured
increase in units sold
decrease in units sold
Author: rikazzz Comment

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