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Cost Accounting
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Cost Accounting
The product costing technique in which markup component is added into cost base, to set a target price is known as
market based approach
cost incurrence pricing
cost plus pricing
locked-in cost pricing
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Cost Accounting
In accounting, the possibility of deviation of actual amount from an expected amount is classified as
contribution
certainty
uncertainty
margin
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Cost Accounting
A document which contains information about the materials of specific product, in specific department comes under
costing method
selling method
material acquisition method
none of above
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Cost Accounting
The method which considers the lowest and highest values of cost driver and cost within relevant range is called
low high method
constant equation
variable equation
high low method
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Cost Accounting
If the required rate of return is 13%, operating income is $375000 and the total investment is $2650000, then the residual income would be
$30,500
$20,500
$25,500
$32,500
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Cost Accounting
The costs of all the activities for individual products or services can be called
purpose level costs
output-unit level costs
input-unit level costs
activity level costs
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Cost Accounting
A company must eliminate all those activities that do not add value to all the products or services in planning of
variable overhead cost
fixed overhead cost
fixed batch cost
variable batch cost
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Cost Accounting
The cost of new machine is considered as
relevant
bunk
dispose value
sunk
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Cost Accounting
The theoretical capacity of the company considers ideal goal of
normal utilization
standard utilization
capacity utilization
actual utilization
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Cost Accounting
Cost Unit is defined as:
Unit of quantity of product, service or time in relation to which costs may be ascertained or expressed
A location, person or an item of equipment or a group of these for which costs are ascertained and used for cost control
Centers having the responsibility of generating and maximizing profits
Centers concerned with earning an adequate return on investment
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