Costing MCQ Questions and Solutions with Explanations | Commerce

A. Idle time × actual labour

B. Idle time × standard rate

C. Idle time × budgeted labour rate

D. Idle time × historical cost

A. Balance Sheet

B. Profit and Loss A/c

C. Additional information

D. All of these

A. 30 units

B. 1,333 units

C. 3,000 units

D. None of the above

A. a decrease in the number of units produced

B. an increase in the number of units produced

C. an increase in the commission paid to salesman for each units sold

D. a decrease in the commission paid to salesman for each units sold

A. estimates

B. costs

C. income

D. revenue

A. I, II and III

B. I, III and V

C. II, III and IV

D. I, IV and V

A. Long-term capital funds

B. Government assistance

C. Internal financing

D. Short-term loans from banks

A. predetermined

B. historical

C. actual

D. final

A. The increase in an assets account other than cash

B. The decrease in an assets account other than cash

C. The decrease in an equity account

D. The decrease in a liability account

A. √R + %(S - T)R

B. T × R + %(S - T)R

C. $$\frac{{{\text{S}} - {\text{T}}}}{{\text{S}}} \times {\text{T}} \times {\text{R}}$$

D. R × S × T