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Q. Cost of defective materials should be……………………to costing P/L account and……………….to contract account.

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. Normal loss is ___________in the normal course of events. It is inherent in the physical and chemical reactions that take place in a process.

Q. An example of composite unit in transport costing is:

Q. To control costs it is essential to keep control on

Q. The disposal cost of abnormal loss is included in the abnormal loss account and therefore in the transfer of the cost of abnormal loss to the statement of profit or loss.

Q. If normal loss has a scrap value the company is able to recover some of the input costs to the process. The scrap value reduces the cost of the process.

Q. Non-production overheads might be added to the cost of the job:

Q. Which of the following best describes a fixed cost? A cost which:

Q. Are the costs of opening WIP, incurred in last period and brought forward as work in progress and the costs that were incurred in the current period, treated the same way?