Q441
Open questionStandard costing refers to
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Management · all questionsManagement Accounting
Management Accounting
practice.
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Q442
Open questionThe accountant's concept of marginal cost differs from the Economist's concept of marginal cost in the matter of exclusion of
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Q443
Open questionThe standard cost of a product is
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Q444
Open questionMatch the following.
| List-I | List-II |
| a. Performance budgeting | 1. Fixed budget |
| b. Zero base budgeting | 2. Production oriented |
| c. Summary of all functional budgets | 3. Jimmy Carter |
| d. Remain unchanged irrespective of level of activity actually attained | 4. Master budget |
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Q445
Open questionWhat is the effect of increase in fixed cost?
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Q446
Open questionWhich budget is prepared first of all?
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Q447
Open questionWhich of the following statements are true?
1. Marginal costing is not an independent system of costing.
2. In marginal costing, all fundamentals of cost are divided into fixed and variable components.
3. In marginal costing, fixed costs are treated as product cost.
4. Marginal costing is not a technique of cost analysis.
1. Marginal costing is not an independent system of costing.
2. In marginal costing, all fundamentals of cost are divided into fixed and variable components.
3. In marginal costing, fixed costs are treated as product cost.
4. Marginal costing is not a technique of cost analysis.
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Q448
Open questionMarginal costing may be preferred to absorption costing because it
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Q449
Open questionBreak-even point is
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Q450
Open questionCash budget is based on
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Q451
Open questionMatch the following.
| List-I | List-II |
| a. Cost control purposes | 1. . . . . . is a predetermined cost |
| b. Standard cost | 2. Responsibility accounting fixes responsibility for . . . . . |
| c. Integrates | 3. Cost accounting guides future . . . . . |
| d. Production policies | 4. Budgeting system . . . . . key managerial functions. |
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Q452
Open questionThe difference between fixed and variable cost has a special significance in the preparation of
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Q453
Open questionWhich of the following are direct expenses?
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Q454
Open questionCost of production report is
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Q455
Open questionSales budget is
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Q456
Open questionMatch the following.
| List-I (Variances) | List-II (Causes) |
| a. Overhead efficiency variance | 1. Power failure |
| b. Overhead volume variance | 2. Appointing low grade employees |
| c. Labour idle time variance | 3. Poor working condition |
| d. Labour efficiency variance | 4. Working days being more or less than budgeted |
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Q457
Open questionAn adverse labour efficiency variance together with a favourable labour rate variance may mean that
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Q458
Open questionWhich of the following does not comprise of (Cost of Good Sold) COGS?
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Q459
Open questionWhich of the following is not a valid possible cause of direct materials quantity variances?
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Q460
Open questionThe margin of safety may be defined as
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