Costing MCQs

M

Mr. Dubey • 51.67K Points
Coach

Q 11. Halsey premium plan is ____________

(A) individual incentive scheme
(B) group incentive scheme
(C) differential piece wage system
(D) time and piece wage system

M

Mr. Dubey • 51.67K Points
Coach

Q 12. Material requisition is meant for _____________

(A) purchase of material
(B) sales of material
(C) storage of material
(D) supply of materials from stores

M

Mr. Dubey • 51.67K Points
Coach

Q 13. The three major elements of product costs are all except____________

(A) factory overhead
(B) indirect labour
(C) direct material
(D) direct labour

M

Mr. Dubey • 51.67K Points
Coach

Q 14. The basic rule of preparing the reconciliation statement is _______________

(A) do as all has done
(B) do as i have done
(C) do as the other has done
(D) do as you had done

M

Mr. Dubey • 51.67K Points
Coach

Q 15. The variables production overheads shall be absorbed in production cost based on ______________ capacity

(A) normal
(B) current
(C) super normal
(D) actual

M

Mr. Dubey • 51.67K Points
Coach

Q 16. If an item of overhead expenditure is charges specifically to a single department this would be an example of ____________

(A) absorption
(B) apportionment
(C) reapportionment
(D) allocation

M

Mr. Dubey • 51.67K Points
Coach

Q 17. An employee is eligible for getting overtime wage if he/ she works for more than ____________

(A) 6 hours a day
(B) 12 hours a day
(C) 9 hours a day
(D) 8 hours a day

M

Mr. Dubey • 51.67K Points
Coach

Q 18. Material controls involves control over _____________

(A) issue of material
(B) consumption of material
(C) purchase, storage and issue of materials
(D) purchase of material

M

Mr. Dubey • 51.67K Points
Coach

Q 19. A cost unit is _____________

(A) a major of work output in a standard hour
(B) the cost per unit of electricity consumed
(C) a unit of product or service in relation to which costs are ascertained
(D) the costs per hour of operating a machine

M

Mr. Dubey • 51.67K Points
Coach

Q 20. Notional interest charged to owner for drawings income credited only in _____________

(A) debtors accounts
(B) cost accounts
(C) final accounts
(D) profit and loss accounts

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