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WorksheetsCost Sheet
Total questions: 10
Worksheet time: 25mins
Historical Cost sheet is prepared on the basis of ________________data.
estimated
historical
presumed
none of above
Unit Costing is a method of costing to compute the cost of ________ product produced during a costing period.
joint
batch
unit/each
by-product
Unit Costing is a method of costing, suitable in a situation where all goods produced during costing period are ___________ nature.
homogenous
hetrogennous
both of above
none of above
Costing period is a period in which costs of a particular product is ascertained. The costing period may be ___________.
annual or biannual
quarterly or monthly
fortnightly or weekly
any of the above
Prime Cost = ______________________
material cost + labor cost + overhead charges
direct material cost + direct labor cost + direct expenses
material cost + labor cost + all expenses
any of the above
Select the most appropriate combination (matching)
A. Raw Material 1. Works Cost
B. Work in Progress 2. Cost of goods sold
C. Finished Stock 3. Material Consumed
A,1
B,2
C,3
A,3
B,1
C,2
A,2
B,3
C,1
A,3
B,2
C,1
Compute cost of raw material consumed on the basis of following information________.
1. Opening stock of raw material and finished goods Rs. 10000 and Rs. 25000 respectively,
2. Closing stock of raw material and finished goods Rs. 15000 and Rs. 55000 respectively.
3. Purchases and sales made during the year Rs. 60000 and Rs. 120000 respectively.
55000
140000
25000
85000
What will be the Selling price?
Rs. 9
Rs. 9.20
Rs. 10.2
Rs. 8.60
The cost of goods sold =
Works Cost + Administrative Overheads + Adjustment of Stock (WIP)
Prime Cost + Factory Overheads + Adjustment of stock (WIP)
Works Cost + Administrative Overheads + Adjustment of Stock (Finished Stock)
Works Cost + Administrative Overheads + Selling and Distribution of Overheads + adjustment of stock (finished stock)
if the profit is 30% on sale and cost of sale is Rs. 147000 then what would be the amount of profit and sales.
Profit=63000
Sales=210000
Profit=343000
Sales=490000
Profit= 44100
sales =191100
None of the above
