Cost Accounting

Cost Accounting
The costs which are considered as expenses in the accounting period are also known as
inventory costs
period costs
timed costs
labor overheads
Author: rikazzz Comment
Cost Accounting
__________ system applies when standardized goods are produced under a series of inter-connected operations:
Process costing
Job order costing
Standard costing
Indirect costing
Author: rikazzz Comment
Cost Accounting
Most suitable basis for apportioning insurance of machine would be:
Floor area
Value of machines
No. of workers
NO. of machines
Author: rikazzz Comment
Cost Accounting
If an actual variable quantity is 70, the actual and budgeted overhead cost of allocation is $8650 and $3500 respectively, then the variable overhead spending variance will be
$660,500
$560,500
$460,500
$360,500
Author: rikazzz Comment
Cost Accounting
In the static budget, the difference between corresponding budgeted amount and actual result is called
sales mix variance
sales volume variance
flexible budget variance
static budget variance
Author: rikazzz Comment
Cost Accounting
The payback period is multiplied for constant increase in yearly future cash flows to calculate
cash value of money
net initial investment
net future value
time value of money
Author: rikazzz Comment
Cost Accounting
If the static budget variance is $38000 and the static budget amount is $12000, then an actual result would be
$36,000
$60,000
$26,000
$50,000
Author: rikazzz Comment
Cost Accounting
An actual quantity of cost allocation base is $56000, budgeted quantity of cost allocation base is $17000, then the variable overhead efficiency variance is
$39,000
$49,000
$59,000
$73,000
Author: rikazzz Comment
Cost Accounting
The gross margin is added to the cost of sold goods to calculate
revenues
selling price
unit price
bundle price
Author: rikazzz Comment
Cost Accounting
Capital gearing ratio is:
Market test ratio
Long-term solvency ratio
Liquid ratio
turnover ratio
Author: rikazzz Comment

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