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Cost Accounting
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Cost Accounting
A process costing system for J Co used an input of 3,500Kg of materials at Rs20 per Kg and Labour hours of 2,750 at Rs25 per hour. Normal loss is 20% and losses can be sold at a scrap value of Rs5per Kg. Output was 2,950 Kg. What is the value of the output:
Rs 142,485
Rs 146,183
Rs 149,746
Rs 152,986
Author:
rikazzz
Comment
Cost Accounting
If the contribution margin per unit is $16700 and the change in sold quantity of units is 20, then change in variable costing operating income will be
635 units
735 units
835 units
334 units
Author:
rikazzz
Comment
Cost Accounting
The formula for the materials price variance is:
Standard materials quantity less actual quantity multiplied standard price
Standard hours less actual hours multiplied by actual quantity
Standard price less actual price multiplied by standard quantity
Standard price less actual price multiplied by actual quantity
Author:
rikazzz
Comment
Cost Accounting
The cost which is changed in proportion to level the total volume is
fixed cost
variable cost
total cost
infeasible cost
Author:
rikazzz
Comment
Cost Accounting
The type of costs that cannot be traced for individual products but help in supporting an organization are classified as
individual sustaining costs
facility sustaining costs
sustained tracing
support tracing
Author:
rikazzz
Comment
Cost Accounting
In case of rising prices (inflation), FIFO method will:
provide lowest value of closing stock and profit
provide highest value of closing stock and profit
provide highest value of closing stock but lowest value of profit
provide highest value of profit but lowest value of closing stock
Author:
rikazzz
Comment
Cost Accounting
In cost accounting, the financial way of charging price for product above the cost, of acquiring or producing the goods is known as
sales margin
cost margin
Gross margin
income margin
Author:
rikazzz
Comment
Cost Accounting
The wages and other benefits, provided to assembly line workers and operators of machine are classified under the
work in process costs
finished costs
direct manufacturing labor costs
indirect manufacturing labor costs
Author:
rikazzz
Comment
Cost Accounting
Annual earned income is divided from a project by capital invested to calculate
accrual accounting rate of return
returned working capital
increase in expected average annual
decrease in expected average annual
Author:
rikazzz
Comment
Cost Accounting
In manufacturing companies, the variable costing method is also classified as
direct costing
indirect costing
total costing
One factor costing
Author:
rikazzz
Comment
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