Q. The method of costing applied in lathe is ………………….
✅ Correct Answer: (D)
job costing
Applied Cost Accounting MCQs and Notes
Q. Job costing is ………………………….
✅ Correct Answer: (A)
Method of costing
Q. The method of batch costing is used in …………………
✅ Correct Answer: (C)
Manufacturing medicines
Q. The method of job costing is applied
✅ Correct Answer: (D)
Engineering work shop
Q. The number of units to be manufactured in one batch
✅ Correct Answer: (C)
Economic batch Quantity
Q. The method of costing applied when articles are manufactured in definite batches is ………………………….
✅ Correct Answer: (C)
Batch costing
Q. A method of costing applied where costs are collected and accumulated for each work order is ………………….
✅ Correct Answer: (D)
job costing
Q. A portion of the contact entrusted to somebody else is known as ……………..
✅ Correct Answer: (B)
Sub contract
Q. A contract in which the price is fixed in advance is a ………….. contract
✅ Correct Answer: (B)
fixed price contract
Q. Estimated profit on incomplete contract can also be called as ,……………..
✅ Correct Answer: (B)
notional profit