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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-7 section-13

Each section contains 100 MCQs on Costing .
61
Match the group of List-I with those of List-II and choose the correct answer
List-I List-II
a. Direct wages 1. Factory expenditure
b. Packing 2. Prime cost
c. Depreciation 3. Sales cost
d. Legal expenses 4. Office expenses
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
62
In the context of standard costing; basic standard is established for
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
63
Cost of production is equal to . . . . . . . .
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
64
When the actual loss is more than the estimated loss, the difference between the two is considered to be . . . . . . . .
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
65
Total Labour cost variance =
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
66
FIFO and LIFO are valuation method of-
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
67
Primary packing is an item of . . . . . . . .
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
68
Kaizen costing is applied to a product that is
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
69
An appropriate choice to invest in manpower or other resources is made through
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
70
The control ratios used by the management to know whether the deviations of the actual performance from the budgeted performance are favourable or unfavourable are . . . . . . . .
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board