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Cost Accounting
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Cost Accounting
An accounting which records and measures the business transactions and is followed by generally accepted accounting principles is classified as
external accounting
internal accounting
business accounting
financial accounting
Author:
rikazzz
Comment
Cost Accounting
If an actual selling price is $400, an actual result is $250 and an actual units sold are 500, then the selling price variance will be
$45,000
$55,000
$75,000
$65,000
Author:
rikazzz
Comment
Cost Accounting
If the difference between costs linked to highest and lowest observation of cost driver, is $8000 and observation of cost driver is 40 machine hours, then slope coefficient will be
$16,000
$200
$400
$20,000
Author:
rikazzz
Comment
Cost Accounting
The process of making long term decisions, for capital investment in the projects is called
lead budgeting
lean budgeting
capital budgeting
relevant budgeting
Author:
rikazzz
Comment
Cost Accounting
The fixed cost, and the contribution margin percentage for the bundle are divided to calculate
breakeven costs
breakeven revenues
breakeven units
breakeven sales
Author:
rikazzz
Comment
Cost Accounting
Which of the following would not explain a favorable wage rate variance?
New technology
Introduction of minimum wage legislation
Higher unemployment in industrial sector
Reduction in power of trade unions
Author:
rikazzz
Comment
Cost Accounting
The method of estimation of cost function, by making the opinions and analysis about cost and cost drivers is classified as
conference method
inference method
pricing method
manufacturing method
Author:
rikazzz
Comment
Cost Accounting
The sum of manufacturing and waiting time for an order is classified as
manufacturing efficiency time
manufacturing cycle time
responding time
value chain time
Author:
rikazzz
Comment
Cost Accounting
A favorable labor variance combined with an adverse wage rate variance could be caused by:
Introduction of performance related pay
Cost cutting exercises implemented by management
Cheaper raw materials imported due to exchange rate depreciation
Higher unemployment in local economy
Author:
rikazzz
Comment
Cost Accounting
If the cost incurred for work in process inventory is $350000 and total equivalent units completed till date are 3500, then weighted average cost will be
$10
$100
$1,000
$1,200
Author:
rikazzz
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