Costing, Cost Sheet, Inventory Management

An item of cost is direct for one business may be...... for another business.

total of all direct expenses is known as ____ cost.

____ costs are partly fixed and partly variable in relation to output.

All indirect costs related to indirect material, indirect labour and indire of actiones are termed as ____.

Factory cost plus administrative overheads is known as ____.

Total variable cost does not increase in total proportion to output.

• TRUE

• FALSE

Variable cost per unit remains constant.

• TRUE

• FALSE

Costing and cost accounting are the same.

• TRUE

• FALSE

Fixed cost does not change in the same proportion in which output changes

• TRUE

• FALSE

Administration expenses are mostly fixed. Abnormal cost is controllable.

• Both are TRUE

• Both are FALSE

• TRUE, FALSE

• FALSE, TRUE