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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. Since a by-product does not have any substantial value, there is no sense in charging it with a share of the common processing costs.

Q. Which of the following is/are the basic object/s of job analysis?

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

Q. Identify the characteristics of services: I. Intangibility: They do not have a physical substance unlike goods. They cannot be held or seen. II. Inseparability: Consumption and creation of a service cannot be separated. Services are consumed as they are created. III. Variability: Services face the problem of maintaining consistency in the standard of output. IV. Perishability: Services cannot be stored. V. Lack of ownership: Services do not result in the transfer of property in anything.

Q. The wages paid to maintenance department workers who do repair work principally for production departments but also on the vehicles in the distribution department should be charged as

Q. When cash ratio is …….. retention money is 13%.

Q. Identify the circumstances where under- or over-recovery of overhead will occur:

Q. Variable overhead is overhead that increases as more production work is done. Total variable overhead expenditure therefore depends on the volume of production. Variable overhead is usually calculated as an amount for each direct labour hour worked.

Q. Wages paid to a office cleaning staff who was engaged in Administration activities a can be termed as.