cost accounting

State objectives of cost accounting

• A.Determination of cost

• B. Fixing selling price

• C. Cost control and cost reduction

• D.Helps in managerial decision-making

• E. All of the above

Cost accounting refers to

• Ascertainment of cost
• Finding profit

• None of the above

Inventory includes

• A. Finished goods

• B. Raw materials

• C. Work-in-progress

• D. All of the above

• E. None of the above

Indirect expenses include

• A. Direct materials

• B. Factory overheads

• C. Administrative overheads

• D. A&B

• E. B&C

Opening work-in-progress is added to which element in cost sheet

• Factory overheads
• Administrative overhead

• Selling and distribution overhead

• None of the above

Carriage inwards is added to

• A. Factory overheads

• B. Office and administrative overheads

• C. Selling and administrative overheads

• D. Direct material cost / Raw material consumption cost

• E. B&C

Managers salary is a part of

• A. Factory over heads

• B. Administration overheads

• C. Selling and distribution overheads

• D.A &C

• E. B&C

Advertising expenses are a part of

• A. Factory overheads

• B. Administrative overheads

• C. selling and distribution overheads

• D. None of the above

Dividends are a part of

• A. Factory overheads

• B. Administrative overheads

• C. Selling and distribution overheads

• D. None of the above

Prime cost comprises of

• A. Direct labour

• B. Direct expenses

• C. Direct material

• D. B,C

• E. A,B,C