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WorksheetsCost and management accounting
Total questions: 20
Worksheet time: 20mins
Audit fees paid to auditors is part of
Administration Cost
Production cost
Selling & Distribution cost
Not shown in cost sheet
Which of these is not an objective of Cost Accounting?
Ascertainment of Cost
Determination of Selling Price
Cost Control and Cost reduction
Assisting Shareholders in decision making
Fixed cost is a cost:
Which changes in total in proportion to changes in output
Which is partly fixed and partly variable in relation to output
Which do not change in total during a given period despise changes in output
Which remains same for each unit of output
Sunk costs are:
relevant for decision making
Not relevant for decision making
cost to be incurred in future
A. future costs
Salary paid to factory store staff is part of:
Factory overheads
Production Cost
Direct Employee cost
Direct Material Cost
Overhead refers to:
Direct or Prime Cost
All Indirect costs
Only Factory indirect costs
Only indirect expenses
Canteen expenses for factory workers are part of:
Factory overhead
Administration Cost
Marketing cost
None of the above
A profit centre is a centre
Where the manager has the responsibility of generating and maximising profits
Which is concerned with earning an adequate Return on Investment
Both of the above
Which manages cost
Marginal costs is taken as equal to
Prime Cost plus all variable overheads
Prime Cost minus all variable overheads
Variable overheads
None of the above
Which cost is more useful for decision making?
Marginal cost
Fixed cost
Total cost
Opportunity cost
Which of the following formula cannot be used for calculating the P/V ratio?
(Sales value minus variable cost) / Sales value
(Fixed cost plus profit)/Sales value
Change in profits/Change in sales
Profit/Sales value
Which of the following formula cannot be used for calculating the contribution
Fixed cost plus profit
Fixed cost minus loss
Sales minus variable cost
Fixed cost plus loss
Which of the following costs tire treated as product cost under variable costing:
Only direct costs
Only variable production costs
Only material and labour costs
All variable and fixed manufacturing costs
The margin of safety can be calculated using the formula
Total sales – Break-even sales
Fixed cost - P/V ratio
P/V ratio - Profit
Fixed cost - Contribution
Composite cost unit for a hospital is:
Per patient
Per patient-day
Per day
Per bed
Cost of diesel and lubricant is an example of:
Operating cost
Fixed charges
Semi-variable cost
None of the above
Cost units used in power sector is:
Kilo meter (K.M)
Kilowatt-hour (kWh)
Number of electric points
Number of hours
Absolute Tonne-km. is an example of:
Composite units in power sector
Composite unit of transport sector
Composite unit for bus operation
Composite unit for oil and natural gas
In Toll Road costing, the repetitive costs includes:
Maintenance cost
Annual operating costs
None of the above
Both (a) and (b)
BOT approach means:
Build, Operate and Transfer
Buy, Operate and Transfer
Build, Operate and Trash
Build, Own and Trash
