……………is the cost which involves payment to outsiders.

Related MCQs

• Under piece rate system of wage payment, payment is made according to the…………………
• Under piece rate system of wage payment, payment is made according to the: -
• 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
• Material costs which cannot be allocated but which are to be apportioned or absorbed by cost centres or cost units.
• ………….is a technique of material cost control which leads to low carrying cost as a result of low investment in inventory
• The cost which is to be incurred even when a business unit is closed is a ____ cost.
• The cost of labour which is directly engaged in production work and can be conveniently identified to a job, process 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
• The double entry for factory cost of production in a cost ledger is