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Q. Allocation is where overheads are allocated to cost centres. If a cost centre is responsible for the entire cost of an item of expenditure, the entire cost is charged directly to the cost centre.

Q. Which of the following procedure is incorrect for attributing overhead costs to cost units? I. Collecting production overhead costs by item II. Establishing cost centres III. Allocating and apportioning overhead costs to cost centres IV. Apportioning service cost centre costs to production cost centres V. Absorbing production cost centre costs into cost units

Q. Job costing is a costing method applied where work is undertaken to customers’ special requirements and each order is of comparatively short duration.

Q. Which of the following is not included in functional classification of overheads?

Q. Profit in incomplete contract in known as notional profit because:

Q. The production operations of most businesses can be categorized as either being:

Q. Escalation clause is generally included in case of …………..contract agreement .

Q. In order to calculate a cost for each joint product, the common costs must be ________ between the joint products.

Q. Per kilometer is an example of……………..cost unit used in transport undertakings.

Q. If beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are