Q.1
Cost which is changed in proportion to level total volume is
Q.2
Costs are classified as fixed or variable on basis of
Q.3
In accounting, cost which is predicted to be incurred or future cost is known as
Q.4
Relationship between change in activity and change in total costs is considered as
Q.5
Required rate of return, is multiplied per unit cost of purchased units to calculate
Q.6
Health care premium for workers and pension costs are included in
Q.7
All costs, which are assigned to manufactured products for specific calculations are classified as
Q.8
If direct material cost is $5500 and prime cost is $25000, then direct manufacturing labour would be
Q.9
Process of tracing direct costs and allocation of indirect costs is known as
Q.10
Cost which remains unchanged, in proportion to level total volume of production is classified as
Q.11
Cost which is related to specific cost object and cannot be economically traceable is classified as
Q.12
Process of assigning indirect costs to any specific cost object is known as
Q.13
In accounting, resources sacrifice for achieving or fulfil specific objective is known as
Q.14
In production, variables such as level of activity or volume of company activity are known as
Q.15
Direct cost assignment for specific cost object is classified as
Q.16
Direct manufacturing labour costs is $40000 and manufacturing overhead cost is $7000, then conversion cost would be
Q.17
If direct material cost is $85000 and direct manufacturing labour is $25000, then prime cost would be
Q.18
Wages and other benefits, provided to assembly line workers and operators of machine are classified under
Q.19
Conversion cost is subtracted from manufacturing overhead cost is to calculate the
Q.20
Labour which works as forklift truck, plant guards and rework labour is classified as
Q.21
In costing of project, wages paid to workers for unproductive work at time of material shortage is termed as
Q.22
Conversion cost is subtracted from direct manufacturing labour cost is to calculate the
Q.23
For companies in service sector, cost which is not considerable is
Q.24
An overtime is considered in cost accounting as
Q.25
In accounting, cost incurred in past or in historical financial statements is classified as
Q.26
Collection of cost data, according to accounting system in an organized way is classified as
Q.27
Which of following is an example of purchasing costs?
Q.28
Direct material costs are added into direct manufacturing costs to calculate
Q.29
An inventory, which consists of partially worked goods or work in progress is called
Q.30
Balance sheet, in which all costs of product that must be considered as its assets, is said to be
Q.31
Terms used in manufacturing cost systems are
Q.32
Direct service labour is $5000, idle time wages are $1000 and overtime premium is $450, then total figure would be
Q.33
In an income statement, when costs become cost of sold goods and manufactured products are sold, such costs are
Q.34
Inventory of final goods that are not yet sold is called
Q.35
Costs which are considered as expenses in accounting period are also known as
Q.36
An inward delivery charges and custom duties are classified as
Q.37
Supplies, plant maintenance, plant rent, plant insurance and cleaning labour comes under which type of costs?
Q.38
If conversion cost is $25000 and direct manufacturing labour cost is $17000, then manufacturing overhead cost would be
Q.39
In income statement of merchandising costs, period cost includes all costs which are not related to
Q.40
Wages paid to workers of factory are termed as
Q.41
Cost, which is related to specific cost object and economically traceable, will be classified as
Q.42
Direct manufacturing labour costs is added into manufacturing overhead cost to calculate
Q.43
In cost terms, direct manufacturing labour cost is included in
Q.44
Conversion cost is $20000 and manufacturing overhead cost is $7000, then direct manufacturing labour cost will be
Q.45
If direct service labour is $7000, idle time wages are $2000 and overtime premium is $950, then total figure would be
Q.46
Direct material cost is $75000 and direct manufacturing labour is $20000, then prime cost would be
Q.47
Period cost, which consists income statement of manufacturing companies belongs to
Q.48
Calculation of product cost, gathering information for planning and analyzing information for decisions making are features of
Q.49
Prime cost is $50000 and direct manufacturing labour is $10000, then direct material cost will be
Q.50
Fifth step in quantitative analysis of estimating cost function is to
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