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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-8 section-8

Each section contains 100 MCQs on Costing .
71
Which method of costing is used in hospitals?
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Answer & Solution
Answer: Option A
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72
. . . . . . . . is the value of a benefit where no actual cost is incurred.
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Answer & Solution
Answer: Option A
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73
If prime cost is Rs. 20,000; factory overheads are 25% of prime cost and office overheads are 80% of factory overheads then the office cost would be
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Answer & Solution
Answer: Option B
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74
An input of 5000 kg of material introduced into the process and the expected loss is 8% and if the actual output from the process is 4300, the abnormal loss is . . . . . . . . kg.
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Answer & Solution
Answer: Option B
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75
. . . . . . . . process loss should be transferred to costing profit & loss account.
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Answer & Solution
Answer: Option A
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76
Total cost is the combination of:
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Answer: Option A
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77
Match the items of List-I with the items of List-II and choose the correct answer.
List-I (Critical Control Standards) List-II (Critical Points)
a. Physical standards 1. Material cost per unit
b. Cost standards 2. Labour hours per unit of output
c. Revenue standards 3. Timing of production
d. Programme standards 4. Average sales per customer
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Answer & Solution
Answer: Option A
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78
During the period of rising prices, higher profits can be shown by valuing stock at:
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Answer: Option B
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79
X Ltd has a liquid ratio of 2 : 1. If its stock is Rs. 40,000, and its current liabilities are of Rs. 1,00,000, its current ratio will be
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Answer & Solution
Answer: Option B
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80
Total Cost (+) contracts are generaelly applicable in cases where
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Answer & Solution
Answer: Option B
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