
Cost accounting
Authored by Sneha Davis
Business
University

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Any contract work which is only in the process or advancing to completion is known as work in progress.
TRUE
FALSE
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What all are taken for the calculation of prime cost?
direct materials
factory overheads
direct expenses
productive wages
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
That form of specific order costing which applies where work is undertaken to customer's special requirements is called batch costing.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Formula for material cost variance
(ST*SR)-(AT*AR)
(SP-AP)*AQ
(SQ*SP)-(AQ*AP)
(SQ-AQ)*SP
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
______ is a statement prepared in advance showing estimate cash receipt and cash disbursements during a specific future period of time.
capital expenditure budget
budget
production budget
cash budget
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The entire process of preparing budget or the act of building budget is called budgeting
true
false
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under which method, cost are apportioned on the basis of weight or quantity of each product and fixed cost are shared on the basis of contribution of each of the product?
average unit cost method
survey method
Contribution margin method
physical unit method
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