Costing Methods & Techniques

A budget is prepared in the terms of -------------

• quantitative terms

• qualitative terms

• government terms

• None of the option

Work Cost can be calculated as

• Direct Material+Direct Labour+Direct Exp+All Indirect Exp

• Direct Material+Direct Labour+Direct Exp+Factory Cost

• Prime Cost + Administration  Expenses

• Factory Expenses + Admin. Expenses

Warehouse rent is a part of 

• prime cost

• factory cost

• distribution cost

• production cost

Retention Money is 

• Value of Work Certified - Cash received

• Value of Work Certified + cash received

• Work-in-progress + Cash received

• Contract Price +Cash received

The three Elements of Cost are

• Material, Labour, Expenses

• Material, Overheads, Expenses

• Fixed Cost, Variable Cost, Semi-variable Cost

• None of the above