………………….aids in price fixation.

Related MCQs

• Inflated price method of valuing material issues is suitable when…………
• Specific price method of valuing material issue is used when………….
• Market price method is considered to be the best method when…………..
• If the amount of work certified is less than………of the contract price, then no profit should be taken to Profit & Loss Account.
• Material price variance is the difference between standard and actual prices of materials used multiplied by………………..
• Material Price Variance = Actual Usage (……………)
• Material usage variance = standard price(……………….)
• An unfavourable material price variance occurs because of:
• A written request to a supplier for specified goods at an agreed price is called: -