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Costing MCQ Questions and Solutions with Explanations | Commerce

Costing MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Costing MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-4 section-12

Each section contains 100 MCQs on Costing .
31
Why is profit volume ratio used?
1. To compute the variable cost for any volume of sales.
2. To determine break-even point and the level of output required to earn a desired profit.
3. To decide most profitable sales mix.
Select the correct answer
Discuss
Answer & Solution
Answer: Option D
No explanation is given for this question. Let's Discuss on Board
32
Boiler house costing is an example of . . . . . . . . costing.
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Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
33
Material should be issued by the store keeper against . . . . . . . .
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Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
34
The scope of cost accounting include . . . . . . . ., . . . . . . . . and . . . . . . . .
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Answer & Solution
Answer: Option A
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35
The process of comparing various financial factors of a company over a period of time is known as
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Answer & Solution
Answer: Option C
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36
. . . . . . . . budget gives different budgeted costs for different levels of activity.
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Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
37
Expenses incurred during production other than direct materials and direct labour are called . . . . . . . . factory expenses; those charged to production on estimated basis are called . . . . . . . .
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Answer & Solution
Answer: Option A
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38
Machine hour rate is obtained by dividing the total running expenses of a machine during a particular period by the . . . . . . . .
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Answer & Solution
Answer: Option A
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39
Which of the following is incorrect for material variances?
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Answer & Solution
Answer: Option C
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40
. . . . . . . . budget is designed to remain unchanged irrespective of the volume of output or turnover attained.
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Answer & Solution
Answer: Option B
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