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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-6 section-9

Each section contains 100 MCQs on Costing .
51
. . . . . . . . helps in ascertaining costs beforehand.
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Answer & Solution
Answer: Option B
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52
Assertion (A): Only the relevant costs should be taken into consideration for decision-making.
Reason (R): All variable costs are relevant costs, and all fixed costs are irrelevant costs.
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Answer: Option B
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53
Responsibility accounting aims to
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Answer: Option B
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54
In process costing, the abnormal loss is treated as . . . . . . . . cost and written off to profit & loss account.
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Answer: Option B
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55
Material price variance = Actual usage (. . . . . . . .)
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Answer & Solution
Answer: Option B
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56
A company proposes to introduce a new product in the market. The company wants to maintain P/V ratio at 25%. If variable cost of the product is Rs. 300, then what will be the selling price?
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Answer: Option D
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57
What is the amount of fixed cost if the margin of safety is Rs. 80,000 profit is Rs. 20,000, and sales is Rs. 3,00,000?
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Answer: Option C
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58
Credit and collection cost is an item of:
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Answer: Option A
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59
. . . . . . . . forms part of cost of production.
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Answer: Option B
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60
Average cost method of valuing material issues is suitable when . . . . . . . .
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Answer: Option C
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