……………….is the value of a benefit where no actual cost is incurred.

Related MCQs

• The cost which is to be incurred even when a business unit is closed is a ____ cost.
• ……………..is the amount by which the absorbed overheads fall short of the actual amount of overheads incurred.
• …………….is the excess of overheads absorbed over the actual amount of overheads incurred.
• The excess of overheads absorbed over the actual amount of overheads incurred is called: -
• The deviation of the actual cost or profit or sales from the standard cost or profit or sale is known as …………
• In a period Rs. 50,000 was incurred on indirect labour. In a Cost Ledger, the double entry will be:
• When …………………….is used on the basis of budgeted overheads and the rate is applied to the actual base, the actual overhead expenses may be different from the charged overheads.
• 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
• Annual usage, ₹ 1,20,000.00, cost of placing ₹ 60.00 & annual carrying cost is 10% of the inventory value. The EOQ will be:-