Costing MCQ Questions and Solutions with Explanations | Commerce

A. Estimation of profit

B. Estimation of cost

C. Estimation of selling price

D. Estimation of work

A. Cash budget

B. Capital expenditure budget

C. Material budget

D. Both A and C

A. surplus, shortage of stock

B. shortage of stock, surplus

C. excess, loss

D. None of these

A. Summarization

B. Analysis

C. Interpretation

D. None of the above

A. $$\frac{{{\text{Number of actual working days in a period}}}}{{{\text{Number of working days in the budget period}}}} \times 100$$

B. $$\frac{{{\text{Actual hours worked}}}}{{{\text{Budgeted hours}}}} \times 100$$

C. $$\frac{{{\text{Standard hours for actual production}}}}{{{\text{Actual hours worked}}}} \times 100$$

D. $$\frac{{{\text{Standard hours for actual production}}}}{{{\text{Budgeted standard hours}}}} \times 100$$

A. ABC Analysis

B. VED Analysis

C. SDE Analysis

D. GOLF Analysis

A. Ship building

B. Aircraft industry

C. Self-propelled vehicle industry

D. None of these

A. 1, 3 and 4

B. 2, 3 and 5

C. 1, 4 and 5

D. 2, 3 and 4

A. Average re-order period

B. Maximum usage

C. Maximum re-order period

D. Normal usage

A. A tool for management control

B. An instrument of delegation and authority

C. An instrument for evaluating the overall performance

D. A statement of budget and forecasts