Commerce · all questions

Costing
practice.

Practice every MCQ with options. Use Show answers when you want the correct option and solution.

1,309

Questions

11/66

Page

Pick an option on a question to see the right answer and solution.

Q201

Describe the method of costing to be applied in case of Nursing Home:

Select an option to see the answer and solution.

Q202

Describe the cost unit applicable to the Bicycle industry:

Select an option to see the answer and solution.

Q203

"Calculate the prime cost from the following information:
Direct material purchased: Rs. 1,00,000.
Direct material consumed: Rs. 90,000.
Direct labour: Rs. 60,000.
Direct expenses: Rs. 20,000.
Manufacturing overheads: Rs. 30,000."

Select an option to see the answer and solution.

Q204

"Total cost of a product: Rs 10,000.
Profit: 25% on Selling Price
Profit is:"

Select an option to see the answer and solution.

Q205

Which of these is not a Material control technique:

Select an option to see the answer and solution.

Q206

Out of the following, what is not the work of purchase department:

Select an option to see the answer and solution.

Q207

Bin Card is a?

Select an option to see the answer and solution.

Q208

Stores Ledger is a:

Select an option to see the answer and solution.

Q209

Re-order level is calculated as:

Select an option to see the answer and solution.

Q210

Economic order quantity is that quantity at which cost of holding and carrying inventory is:

Select an option to see the answer and solution.

Q211

ABC analysis is an inventory control technique in which:

Select an option to see the answer and solution.

Q212

Which one out of the following is not an inventory valuation method?

Select an option to see the answer and solution.

Q213

In case of rising prices (inflation), FIFO method will:

Select an option to see the answer and solution.

Q214

In case of rising prices (inflation), LIFO will:

Select an option to see the answer and solution.

Q215

"Calculate Re-order level from the following:
Consumption per week: 100-200 units
Delivery period: 14-28 days"

Select an option to see the answer and solution.

Q216

"Calculate EOQ (approx) from the following details:
Annual Consumption: 24000 units
Ordering cost: Rs 10 per order
Purchase price: Rs 100 per unit
Carrying cost: 5%"

Select an option to see the answer and solution.

Q217

"Calculate the value of closing stock from the following according to FIFO method:
1st January, 20XX: Opening balance: 50 units @ Rs 4

Receipts:
5th January, 20XX: 100 units @ Rs 5
12th January, 20XX: 200 units @ Rs 4.50

Issues:
2nd January, 20XX: 30 units
18th January, 20XX: 150 units"

Select an option to see the answer and solution.

Q218

"Calculate the value of closing stock from the following according to LIFO method:
1st January, 20XX: Opening balance: 50 units @ Rs 4

Receipts:
5th January, 20XX: 100 units @ Rs 5
12th January, 20XX: 200 units @ Rs 4.50

Issues:
2nd January, 20XX: 30 units
18th January, 20XX: 150 units"

Select an option to see the answer and solution.

Q219

"Calculate the value of closing stock from the following according to Weighted Average method:
1st January, 20XX: Opening balance: 50 units @ Rs 4

Receipts:
5th January, 20XX: 100 units @ Rs 5
12th January, 20XX: 200 units @ Rs 450

Issues:
2nd January, 20XX: 30 units
18th January, 20XX: 150 units"

Select an option to see the answer and solution.

Q220

Cost of abnormal wastage is:

Select an option to see the answer and solution.

Prev 9 10 11 12 13 Next