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Cost Accounting
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Cost Accounting
The cost of particular cost object which cannot be traced in economically plausible way is termed as
indirect cost
partial cost
benchmark cost
direct cost
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Cost Accounting
In accounting system, a document which consists of all assigned cost for specific job is classified as
job cost record
job cost sheet
source document
both a and b
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Cost Accounting
An engineering of products or detailed planning of products or services is called
product design
research steps
useful chain
value added
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Cost Accounting
In incremental cost allocation method, the cost object user who is ranked second in ranking order is known as
First incremental user
primary user
secondary user
second incremental user
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Cost Accounting
Which of the following is correct for maximum level?
Reorder level – (Minimum consumption x Lead time) + EOQ
(Maximum consumption x Lead time) – (Minimum consumption x Lead time) + EOQ
[(Maximum consumption – Minimum consumption) Lead time]+ EOQ
All of the given options
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Cost Accounting
A cost unit is
The cost per hour of operating a machine
The cost per unit of electricity consumed
A unit of product or services in relation to which costs are ascertained
A measure of work output in a standard hour
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Cost Accounting
The difference over the period of time between actual and applied FOH will usually be minimal when the predetermined overhead rate is based on:
Normal capacity
Designed capacity
Direct Labor hours
Machine hours
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Cost Accounting
Which of the following is indirect cost?
The depreciation of machinery
The overtime premium incurred at the specific request of a customer
The hire of tools for a specific job
All of the given options
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rikazzz
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Cost Accounting
A worker is paid Rs. 0.50 per unit and he produces 18 units in 7 hours. Keeping in view the piece rate system, the total wages of the worker would be:
18 x 7 x 0.50 = Rs. 63
18 x 0.50 = Rs. 9
18 x 7 = Rs. 126
7 x 0.5 = Rs. 3.5
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rikazzz
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Cost Accounting
Weighted average cost per unit is calculated by which of the following formula?
Cost of goods issued/number of units issued
Total cost/total units
Cost of goods manufactured/closing units
Cost of goods sold/total units
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