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Q. P/V Ratio is an indicator of .

Q. Depreciation on fixed assets is .

Q. When actual loss is..........................than the estimated loss, the difference between the two is considered to be abnormal loss.

Q. Indirect material used in production is classified as.

Q. If fixed costs decrease while the variable cost per unit remains constant, the new contribution margin in relation to the old contribution margin will be .

Q. Production cost under marginal costing includes .

Q. Expected sales + desired closing stock – estimated opening stock = .

Q. Operation budgets normally cover a period of .

Q. Under marginal costing stock are valued at .

Q. The budget which usually takes the form of budgeted profit and loss account and balance sheet is known as