Costing MCQ Questions and Solutions with Explanations | Commerce

A. a-1, b-2, c-3, d-4

B. a-3, b-4, c-2, d-1

C. a-3, b-4, c-1, d-2

D. a-4, b-3, c-1, d-2

A. Standard usage - actual usage

B. Standard unit price - actual unit price

C. Standard quantity

D. Actual quantity

A. Only 1

B. Only 2

C. Both 1 and 2

D. Neither 1 nor 2

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. Cash

B. Gold

C. Inventories

D. Advance for supply of raw materials

A. Rs. 1,000

B. Rs. 8,000

C. Rs. 64,000

D. Rs. 7,992

A. FIFO method

B. LIFO method

C. General average method

D. Weighted average method

A. irrelevant

B. relevant

C. useful

D. None of these

A. Cash budget

B. Capital expenditure budget

C. Research and development budget

D. Both B and C

A. Taylor method

B. Gant bonus scheme

C. Halsey's interest method

D. Differential method