Commerce · all questions

Costing
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Q1101

Variable costs change . . . . . . . . with change in output.

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Q1102

In Contract Account, the work in progress consists of

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Q1103

Which of the following is not the limitation of budgetary control?

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Q1104

Damage to material due to fire is considered-

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Q1105

. . . . . . . . budget is the preparation of budget starting from a clean state.

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Q1106

Which of the following is a non-operating expense?

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Q1107

Each job has a . . . . . . . . prepared for it that bears the job number and which is used to collect all cost data relating to job.

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Q1108

What is the capital structure referred to as when equity shareholder's funds exceed the total of debentures and preference share capital?

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Q1109

Match the items in List-I with the items in List-II.

List-I	List-II
a. Debt equity ratio	1. $\frac{Net Profit before Interest and Tax}{Interest on Long-term Loan}$
b. Proprietary ratio	2. $\frac{Equity Share Capital + Reserve}{Preference Share Capital + Interest Bearing Finance}$
c. Interest coverage ratio	3. $\frac{Long-term Debts}{Shareholder’s Funds}$
d. Capital gearing ratio	4. $\frac{Shareholder’s Funds}{Total Assets}$

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Q1110

Increases in the efficiency of workers-

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Q1111

The value of opening stock as on 1^stJanuary 2003 was Rs. 7,000 stock of Rs. 23,000 in January were purchased. COGS was Rs. 21,000. What was the value of closing stock as on 31^st January, 2003?

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Q1112

Three types of standards are . . . . . . . .

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Q1113

Equivalent units represent the production of a process in terms of . . . . . . . . units.

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Q1114

Administration expenses are mostly . . . . . . . .

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Q1115

For conducting . . . . . . . . workers are studied at their jobs and all their movements and motions are noted.

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Q1116

When the debt turnover ratio is 4, what is the average collection period?

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Q1117

In transport costing . . . . . . . . charges vary more or less in direct proportion to kilometers run.

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Q1118

Raw material purchased:
1^st January, 600 units @ Rs. 12 per unit
12^th January, 500 units @ Rs. 14 per unit
21^st January, 300 units @ Rs. 13 per unit
Raw material issued for manufacture:
3^rd January 300 units
5^th January 124 units
15^th January 250 units
16^th January 300 units
Raw material returned to stores from manufacturing department on 14^th January, 50 units. The material is issued on First-in-First out method.
The value of material remaining in store on 21^st January will be:

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Q1119

Which one of the following is not correct with reference to standard costing?

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Q1120

Match the following.

List-I	List-II
a. Labour cost variance	1. Actual hours paid (Standard rate - Actual rate)
b. Labour rate variance	2. Standard cost - Actual cost
c. Efficiency variance	3. Idle hours × Standard rate per hour
d. Idle time variance	4. Standard rate (Standard hours - Actual hours worked)

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