NEW
Font size
WorksheetsCost Accounting - FYBCOM
Total questions: 10
Worksheet time: 5mins
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
Cost Unit is defined as
Unit of quantity of product, service or time in relation to which costs may be ascertained or expressed
A location, person or an item of equipment or a group of these for which costs are ascertained and used for cost control.
Centres having the responsibility of generating and maximising profits
Centres concerned with earning an adequate return on investment
Element/s of Cost of a product are:
Material only
Labour only
Expenses only
Material, Labour and expenses
Calculate the prime cost from the following information: Direct material purchased: Rs. 1,00,000 Direct material consumed: Rs. 90,000 Direct labour: Rs. 60,000 Direct expenses: Rs. 20,000 Manufacturing overheads: Rs. 30,000
Rs. 1,80,000
Rs. 2,00,000
Rs. 1,70,000
Rs. 2,10,000
Total cost of a product: Rs. 10,000 Profit: 25% on Selling Price Profit is:
Rs. 2,500
Rs. 3,000
Rs. 3,333
Rs. 2,000
Re-order level is calculated as:
Maximum consumption x Maximum re-order period
Minimum consumption x Minimum re-order period
1/2 of (Minimum + Maximum consumption)
Maximum level - Minimum level
Calculate EOQ (approx.) from the following details:Annual Consumption: 24000 units Ordering cost: Rs. 10 per order Purchase price: Rs. 100 per unit Carrying cost: 5%
310
400
290
300
Rent for warehouses is a component of what cost?
Production cost
Cost of factory
Prime cost
Distribution cost
What is the tender cost sheet ?
Estimation of the cost
Estimation of the price at which it will be sold.
Estimation of units
Estimation of profits
Salary paid to permanent employees is an example of what cost?
implicit cost
variable cost
fixed cost
explicit cost
