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Cost Accounting
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Cost Accounting
Which of the following is considered as basic systems of remunerating labor:
Time rate system
Piece rate system
Halsey Premium plan
Both time rate and piece rate system
Author:
rikazzz
Comment
Cost Accounting
The cost of abnormal spoilage is not treated as
conversion costs
sunk costs
inventoriable costs
non inventoriable costs
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rikazzz
Comment
Cost Accounting
Cost of finished goods inventory is calculated by:
Multiplying units of finished goods inventory with the cost per unit
Dividing units of finished goods inventory with the cost per unit
Dividing per unit cost with finished goods inventory
Deducting total cost from finished goods inventory
Author:
rikazzz
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Cost Accounting
If there is a favorable materials price variance then this could be due to:
Inferior quality materials being used
Exchange rate depreciation if materials are imported
More wastage of materials incurred
Higher wag costs
Author:
rikazzz
Comment
Cost Accounting
The process of ensuring preventive measure to be done in all machines is classified as
potential price response
potential cost response
potential budget response
potential management response
Author:
rikazzz
Comment
Cost Accounting
The partial or completed units of manufactured goods, that do not meet customer specifications and get sold at reduced price or simply discarded, are called
spoilage
rework
scrap
equivalence
Author:
rikazzz
Comment
Cost Accounting
In the budgeted fixed overhead rate, the number of machine hours are considered as
denominator level
numerator level
fixed level
variable level
Author:
rikazzz
Comment
Cost Accounting
An implementation of activity based costing would be possible only if the accountants find
goodness of each activity
handling of each activity
cost driver for each activity
cost object for each activity
Author:
rikazzz
Comment
Cost Accounting
The first step in decision making process is to
identify the problem
identify the linear variable
identify the certainty
identify the multiplier
Author:
rikazzz
Comment
Cost Accounting
The method of revenue allocation, which ranks products included in bundle according to predetermined criteria of management is known as
step down allocation method
stand-alone revenue allocation method
incremental revenue allocation method
revenue mix allocation method
Author:
rikazzz
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