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Cost Accounting
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Cost Accounting
An approach in which restating the amounts, in general ledgers by using actual cost rates, is classified as
unadjusted cost approach
adjusted allocation rate approach
unadjusted allocation approach
adjusted cost approach
Author:
rikazzz
Comment
Cost Accounting
A group of individual indirect cost item is defined as
direct pool
cost pool
indirect pool
item pool
Author:
rikazzz
Comment
Cost Accounting
Which of the following is true when piece rate system is used for wage determination?
Worker is paid on the basis of time taken by him to perform the work
Worker is paid on the basis of production
Piece rate system is more beneficial than a guaranteed minimum wage system
None of these
Author:
rikazzz
Comment
Cost Accounting
The fixed direct manufacturing cost is calculated, by multiplying standard prices for standard quantity of allowed input for actual output in
input costing
output costing
standard costing
achieved costing
Author:
rikazzz
Comment
Cost Accounting
If an average inventory is 2000 units, annual relevant carrying cost of each unit is $5, then the annual relevant carrying cost will be
$5,000
$4,500
$5,500
$6,000
Author:
rikazzz
Comment
Cost Accounting
In the regression equation Y = $6000 + (per unit cost ‘x’ number of units), the ‘$6000’ is a
constant
variable
expression
base and exponent
Author:
rikazzz
Comment
Cost Accounting
The actual price of material is less than budgeted price, this means that
price variance is favorable
price variance is unfavorable
cost variance is favorable
cost variance is unfavorable
Author:
rikazzz
Comment
Cost Accounting
The slope coefficient is 0.75 and the difference in machine hours is $65000, then difference in cost would be
$86,667
$48,750
$85,000
$55,000
Author:
rikazzz
Comment
Cost Accounting
Which of the following would be considered to be an investment center:
Managers have control over marketing
Management have a sales team
Management have a sales team and are given a credit control function
Managers can purchase capital assets and are given a credit control function
Author:
rikazzz
Comment
Cost Accounting
If the budgeted fixed cost is $26000, per unit budgeted denominator level is 1300 units, then budgeted fixed cost will be
$50
$30
$20
$40
Author:
rikazzz
Comment
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