Q. Normal Process Loss is
✅ Correct Answer: (B)
Unavoidable and expected
Applied Cost Accounting MCQs and Notes
Q. The process A/c is credited with
✅ Correct Answer: (A)
Value of by-products & scrap
Q. The process A/c is debited with
✅ Correct Answer: (B)
Material, labour and overheads
Q. A method of costing which is used to ascertain the cost of products at each stage of it’s manufacture is called
✅ Correct Answer: (C)
Process costing
Q. When fixed cost decreases, the break even point ……………….
✅ Correct Answer: (B)
Decreases
Q. A decrease in the variable cost per unit, the profit-volume ratio will
✅ Correct Answer: (A)
Increase
Q. Period for which budget is prepared is called
✅ Correct Answer: (A)
Budget period
Q. Budget control is exercised by
✅ Correct Answer: (D)
All the above
Q. In the marginal costing method, the actual amount of fixed overheads is wholly charged to
✅ Correct Answer: (B)
Profit and loss