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Cost Accounting
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Cost Accounting
The plan of action; how an organization meets its opportunities and capabilities is classified as
action plan
strategy
step wise plan
complex plan
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rikazzz
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Cost Accounting
Allotment of whole item of cost to a cost center or cost unit is known as:
Cost Apportionment
Cost Allocation
Cost Absorption
Machine hour rate
Author:
rikazzz
Comment
Cost Accounting
A worker is paid Rs. 0.5 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 0.50 = Rs. 3.5
Author:
rikazzz
Comment
Cost Accounting
The cost pattern, in which production inputs are to be used in discrete functions, but the quantities are fractional, will be categorized as
continuously variable cost function
fixed cost function
mixed cost function
semi variable cost function
Author:
rikazzz
Comment
Cost Accounting
The less skilled workers for operating machines then expected are classified as
cause for exceeding budget
cause of less employment
fixed cost variation
variable cost variation
Author:
rikazzz
Comment
Cost Accounting
When the applied cost is lesser than the actual cost it is unfavorable variance. Which of the following is correct?
Units sold=Opening finished goods units + Units produced – Closing finished goods units
Units Sold = Units produced + Closing finished goods units – Opening finished goods units
Units sold = Sales + Average units of finished goods inventory
Units sold = Sales – Average units of finished goods inventory
Author:
rikazzz
Comment
Cost Accounting
A push through system, according to which goods are manufactured for finished inventory solely, on the basis of forecasted demand can be classified as
in-time production
materials requirement planning
on-time production
pull strategy of production
Author:
rikazzz
Comment
Cost Accounting
The book value of existing equipment is a historical cost and not necessary for deciding equipment replacement, thus it can be considered as
operating cost
sunk cost
in-house cost
out-house cost
Author:
rikazzz
Comment
Cost Accounting
The sum of working capital and current liabilities is equal to
imputed assets
residual assets
current assets
nominal assets
Author:
rikazzz
Comment
Cost Accounting
The type of accounting which reports to external parties of the organization is known as
cost accounting
decision accounting
financial accounting
management accounting
Author:
rikazzz
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