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Cost Accounting
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Cost Accounting
ABC analysis is an inventory control technique in which:
Inventory levels are maintained
Inventory is classified into A, B and C category with A being the highest quantity, lowest value
Inventory is classified into A, B and C Category with A being the lowest quantity, highest value
Either b or c
Author:
rikazzz
Comment
Cost Accounting
FOH applies rate of Rs. 5.60 per machine hour. During the year the FOH to Rs. 275,000 and 48,000 machine hours were used. Which one of the following statement is correct?
Overhead was under-applied by Rs. 6,200
Overhead was over-applied by Rs. 6,200
Overhead was under-applied by Rs. 7,200
Overhead was over-applied by Rs. 7,200
Author:
rikazzz
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Cost Accounting
A store ledger card is similar to the __________:
Stock ledger
Bin card
Material card
Purchase requisition card
Author:
rikazzz
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Cost Accounting
An inventory which consists of stock waiting to be used In the process of manufacturing is known as
finished goods inventory
indirect material inventory
direct materials inventory
work in process inventory
Author:
rikazzz
Comment
Cost Accounting
An example of direct engineered cost is
indirect material cost
direct material cost
direct labor cost
indirect labor cost
Author:
rikazzz
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Cost Accounting
If the actual cost is $265000 and the flexible budget cost is $156000, then the flexible budget variance will be
$409,000
$109,000
$209,000
$309,000
Author:
rikazzz
Comment
Cost Accounting
A ltd is a manufacturing company that has no production resource limitations for the foreseeable future. The Managing Director has asked the company mangers to coordinate the preparation of their budgets for the next financial year. In what order should the following budgets be prepared:
Sales budget
Cash budget
Production budget
All of given options
Author:
rikazzz
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Cost Accounting
If the fixed setup cost is $32000 and the variable setup cost is $12000, then the setup cost will be
$20,000
$34,000
$44,000
$35,000
Author:
rikazzz
Comment
Cost Accounting
A cost that has been incurred but cannot be changed by present or future decision is called:
Sunk cost
Differential cost
Opportunity cost
Margin cost
Author:
rikazzz
Comment
Cost Accounting
For increasing sales, the decrease in selling price, below the selling price list is known as
partial discount
corporate discount
treasury discount
price discount
Author:
rikazzz
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