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Worksheetscost accounting
Total questions: 10
Worksheet time: 8mins
State objectives of cost accounting
A.Determination of cost
B. Fixing selling price
C. Cost control and cost reduction
D.Helps in managerial decision-making
E. All of the above
Cost accounting refers to
Finding profit
None of the above
Inventory includes
A. Finished goods
B. Raw materials
C. Work-in-progress
D. All of the above
E. None of the above
Indirect expenses include
A. Direct materials
B. Factory overheads
C. Administrative overheads
D. A&B
E. B&C
Opening work-in-progress is added to which element in cost sheet
Administrative overhead
Selling and distribution overhead
None of the above
Carriage inwards is added to
A. Factory overheads
B. Office and administrative overheads
C. Selling and administrative overheads
D. Direct material cost / Raw material consumption cost
E. B&C
Managers salary is a part of
A. Factory over heads
B. Administration overheads
C. Selling and distribution overheads
D.A &C
E. B&C
Advertising expenses are a part of
A. Factory overheads
B. Administrative overheads
C. selling and distribution overheads
D. None of the above
Dividends are a part of
A. Factory overheads
B. Administrative overheads
C. Selling and distribution overheads
D. None of the above
Prime cost comprises of
A. Direct labour
B. Direct expenses
C. Direct material
D. B,C
E. A,B,C
