When material prices fluctuate widely the method of pricing that gives a best result in

Related MCQs

• Under……………… method of pricing issues, issues are valued at a price calculated by dividing the total cost of material in the stock by the total quantity of material in stock.
• …………………… method of pricing issues follows the principle that material received first are issued first.
• Under…………… method of pricing material issue the value of closing stock represents the current market price.
• ……………………method of pricing material issues provides a better matching of current costs with current revenues.
• Under the…………. method of pricing issues, stock is valued at historical price.
• ………………..purchase procedure should be installed to ensure that the purchases are made at favourable prices.
• __________ is based on information gathered and analyzed about demand and supply. this forecast provides a prediction of short and long term prices and the underlying reasons for those trends.
• …………………helps the management to eliminate inefficiencies caused by material wastage, use of obsolete machinery, improper planning etc.
• The cost of direct material is termed as…………..
• The total of direct material, direct labour and direct expenses is known as………..