Costing MCQ Questions and Solutions with Explanations | Commerce

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

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

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

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

A. products

B. service

C. Both A and B

D. None of these

A. 566 units

B. 800 units

C. 2530 units

D. 900 units

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 ratio

B. Cost ratio

C. Stock velocity

D. Profit ratio

A. is sometimes used as a basis for cost planning and product pricing

B. includes only manufacturing costs incurred over the life of the product

C. includes only manufacturing cost, selling expenses and distribution expense

D. emphasises cost savings opportunities during the manufacturing cycle

A. Profit

B. Sales

C. Price

D. MOS

A. 155,000

B. 105,000

C. 85,000

D. 80,000

A. Principal Budget Factor

B. Limiting Factor

C. Both A and B

D. None of the above

A. abnormal gain

B. abnormal loss

C. normal loss

D. income