Cost Accounting

M

Mr. Dubey • 51.17K Points
Coach

Q 21. The basis of collection of costs are:-

(A) Materials
(B) Wages
(C) Overheads
(D) All of these
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M

Mr. Dubey • 51.17K Points
Coach

Q 22. Under which method costs are collected & accumulated for each job: -

(A) Job Costing
(B) Contract Costing
(C) Batch Costing
(D) None of these
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M

Mr. Dubey • 51.17K Points
Coach

Q 23. The costing method which can be used in industry where the product passes through different processes is known as

(A) Job costing
(B) Operating costing
(C) Batch costing
(D) Process costing
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M

Mr. Dubey • 51.17K Points
Coach

Q 24. Under this method, homogeneous products are taken as cost unit

(A) Job
(B) Contract
(C) Batch
(D) Process
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M

Mr. Dubey • 51.17K Points
Coach

Q 25. In this type of costing works are carried out at factory premises:

(A) Job
(B) Contract
(C) Batch
(D) Process
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M

Mr. Dubey • 51.17K Points
Coach

Q 26. Over valuation of ________ in cost accounts is deducted to costing profit to find out financial profit.

(A) Closing stock
(B) Opening stock
(C) Factory OH
(D) Office OH
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M

Mr. Dubey • 51.17K Points
Coach

Q 27. A statement prepared to provide detailed cost of a cost centre or cost unit is

(A) Cost account
(B) Cost sheet
(C) Reconciliation statement
(D) Profit & loss a/c
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M

Mr. Dubey • 51.17K Points
Coach

Q 28. Absorption means

(A) Charging of overhead to cost centres
(B) Charging if overhead to cost units
(C) Charging of overhead to cost centres or units
(D) None of the above
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M

Mr. Dubey • 51.17K Points
Coach

Q 29. Departmentalization of overhead is

(A) Secondary distribution
(B) Primary distribution
(C) Absorption
(D) Allocation
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M

Mr. Dubey • 51.17K Points
Coach

Q 30. Which of the following is variable cost?

(A) Salaries of higher officers
(B) Prime cost
(C) Insurance cost
(D) Repair cost
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