Cost Accountancy is the science, art and ……………….of a cost accountant.

Related MCQs

• Cost accountancy is considered an art because it _____
• …………………..is not the scope ofCost Accountancy.
• …………………. Accounting is not only a positive science but also a normative science because it includes techniques of budgetary control and standard costing.
• ABC ltd. uses the following flexible budget formula to annual maintenance cost: Total cost = Rs. 6720 + Rs. 0.64 for machine hour The current month's budget is based on 20,000 hours of planned machine time. The maintenance cost included in this flexible budget for the current month is
• A statement prepared to provide detailed cost of a cost centre or cost unit is
• A company estimates its direct material requirements for the month of November 2014 to be Rs. 2,40,000 and the direct labour to be Rs. 1,500,00. It is the policy of the company to absorb overheads as under : Factory overheads 60% of direct wages Administrative overheads 20% of work cost Selling and distribution overheads 25% of work cost it is estimated that the selling and distribution overheads will increase by 15% in November the budgeted sales for the month of November 2014 is
• Cost centre and cost unit are……………………
• ………………….budget may be classified into material cost budget, labour cost budget and overhead budget.
• Labour cost variance is the difference between standard cost of labour and………..
• The cost of labour which is directly engaged in production work and can be conveniently identified to a job, process or cost unit is