………………….budget may be classified into material cost budget, labour cost budget and overhead budget.

Related MCQs

• Which of the following is / are true with regard to the period of budget? i) the budget period depends on the nature of industry ii) master budget is prepared annually while functional budget may be for different periods iii) Basic budget is the long term budget
• 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
• Certain overhead costs cannot be directly charged to a department or cost centres. The process of distribution of such overhead costs to various departments is called
• Labour cost variance is the difference between standard cost of labour and………..
• 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
• When factory overhead control account has an ending debit balance, factory overhead was………………
• When the amount of overhead absorbed is less than the amount of overhead incurred it is known as
• Overhead expenses can be classified according to
• Classification of overheads into indirect material, indirect labour and indirect expenses come under:
• The primary difference between a fixed budget and a variable(flexible) budget is that a fixed budget: