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Q. Material cost variances is measured as

Q. A profit centre is a centre ___________.

Q. Management accounting is primarily concerned with:

Q. (A Company has a standard of 1 direct labor hour per unit at Rs.12 per hour. 3,850 labor hours costing Rs.46,970 were used to produce 4,000 units.) Company’s labor price variance is

Q. A department makes a product whose contribution per unit is £1,000, and which takes 20 hours machine time. A component used in this product with a marginal cost of £300 (taking 5 hours of machine time) could be purchased from an external supplier. The department is working at full capacity. What is the maximum price that the company may pay to buy the component from an external supplier?

Q. If selling price is fixed 25% above the cost, the Gross Profit Ratio is

Q. Cash Flow Statement is based upon

Q. _______________ ratios measure the ability of a firm to earn an adequate return on sales, total assets and invested capital.

Q. Financing Activities bring changes in

Q. Absorption costing is also known as