Standard Costing specifically relates to the function of

Related MCQs

• The following information belongs to John Manufacturing Company that uses a standard costing system: • Basic wage rate:Rs.12 per hour • Fringe benefits: Rs. 2 per hour • Basic time: 2 hours per unit • Allowance for down time: 0.3 hours per unit • Allowance for brakes: 0.2 hours per unit Based on the above information, what is the standard direct labor cost per unit?
• During the month of January, the standard cost of actual hours worked amounted to Rs.25, 000, the standard direct labor rate was Rs.10 per hour and the direct labor efficiency variance amounted to Rs.1, 000 favorable. The standard hours allowed for actual production were:
• The valuation of stock in marginal costing as compared to absorption costing is
• The “standard hours allowed” or “standard quantity allowed” is equal to:
• The problems associated with marginal costing are
• Managers utilizes marginal costing for
• Which of the following are advantages of marginal costing?
• Given production is 1,00,000 units, fixed costs is Rs 2,00,000 Selling price is Rs 10 per unit and variable cost is Rs 6 per unit. Determine profit using technique of marginal costing.
• The essence of marginal costing is that ……………… cost is considered on the whole as separate.
• The term standard cost refers to the: