In ……………………costing where standardized goods or services result from a sequence of repetitive and more or less continuous operations to which costs are collected and averaged over the units produced during the year:

Related MCQs

• A company is preparing a production budget for the next year. The following information is relevant : Budgeted sales 10,000 units Opening stock 600 units Closing stock 5% of budgeted sales The production process is such that 10% of the units produced are rejected. What is the number of units required to be produced to meet demand?
• PP Ltd is preparing the production and material purchase budgets for one of their products, The SUPERX for the forthcoming year. The following information is available: Sales demand (units) 30000 Material usage per unit 7 kgs Estimated opening inventory 3500 units Required closing inventory 35% higher than opening inventory How many units of the SUPERX will need to be produced?
• The method of costing applied in biscuit industries is ………….costing and in steel industry………….costing.
• Batch costing is a form of specific order/job costing where the cost per unit is ascertained by _________ the total cost of a batch by the number of items produced in that batch.
• The budgeted cost of electricity is Rs. 62,500 for 5,000 units of production per month and Rs. 71,500 for 6,200 units of production per month. If the company manufactures 6,900 units in the month of May 2014, the budgeted amount of electricity for the month is
• A company has the following budget for the six month: Finished product Materials Sales - 7,000 units Usage per unit - 3 kg Production units - 7200 units Opening stock - 400 kg Closing stock - 500 kg What is the material purchase budget for the month?
• The method of re-apportionment of overhead costs which is used when service department renders its services to other service departments but does not receive services of the other service departments.
• In transport costing………………charges vary more or less in direct proportion to kilometers run.
• The process of distribution of overheads allotted to a particular department or cost center over the units produced is called:
• Under which method costs are collected & accumulated for each job: -