Q.1.
In process costing, each producing department is a __________
Q.2.
In cost accounting, stock is valued at
Q.3.
According to CIMA, England, “the technique and process of ascertaining cost” is called
Q.4.
Scrap value of normal loss is _____ to process account.
Q.5.
P/V Ratio is an indicator of
Q.6.
Contribution margin is also known as
Q.7.
When fixed cost is Rs.20,and P/V Ratio is 40%, the breakeven point will be
Q.8.
Object of _____ is to protect the interest of contractor.
Q.9.
In Contract Costing, work uncertified is valued at _____.
Q.10.
A manager can be blamed for _____ adverse variance.
Q.11.
Sale of scrap is _____ to contract A/c.
Q.12.
An item of low value incidentally arising in a process is called _________.
Q.13.
-------- ------are sections of a business to which costs can be charged Therefore, a ---- ---- can be any function or section of the organisation. In a manufacturing business it can be an entire factory, a department of a factory, or a particular stage in the production process.
Q.14.
Hesketh is a stationary business. Classify the following elements:Insurance of office computers
Q.15.
Extra payment reuired to be paid for overtime work is called as overtime
Q.16.
_______ time refers to the time for which wages are paid without any production
Q.17.
________ labour cost is the remuneration paid to the employees who are directly engaged in the manufacturing operations
Q.18.
Cost incurred by undertakings which do not manufacture any product but services is
Q.19.
Each contract is considered as a separate unit of cost.
Q.20.
A contract usually takes more than one year to complete.
Q.21.
Profit on each contract is computed every year on incomplete portion of the contract.
Q.22.
Work certified is recorded in the contract Account at cost.
Q.23.
Most of the costs in a contract are direct cost.
Q.24.
__________ is debited to the contract A/c.
Q.25.
_____ money is paid a certain period after completion of the contract.
Q.26.
Work certified is valued in term of ________ .
Q.27.
On _____ of the contract entire profit is transferred to P & L A/c.
Q.28.
_____ ensures the contractee that the contractor will continue the work.
Q.29.
Work–in–progress appears as _____ in balance sheet.
Q.30.
Profit on incomplete contract is calculated on the basis of _____ of completion.
Q.31.
Work done yet to be certified is called _____.
Q.32.
Work certified factilitates to monitor the _____.
Q.33.
In _____ there is no risk of loss.
Q.34.
Contract A/c is debited by _____ of plant.
Q.35.
Contract work is carried out at _____ site.
Q.36.
Prime cost + all variable cost =
Q.37.
Contribution is calculated by the formula
Q.38.
Marginal costing technique classifies cost into
Q.39.
Which is not included in primecost?
Q.40.
Marginal costing helps the management to
Q.41.
A high margin of safety indicates that
Q.42.
If PVR=40%, MOS=50%, Sales=Rs.6,00,Find Net profit.
Q.43.
Break Even Point refers to the point in which
Q.44.
An increase in variable costs results in
Q.45.
The total variable cost change _________________________with change in output
Q.46.
Fixed cost + profit =
Q.47.
If the total cost ofunits is Rs. 5,and those ofunits is Rs. 5,then increase of Rs.in total cost is