Costs which are ascertained after they have been incurred are called

Related MCQs

• The following details have been extracted from the debtors collection records of X limited: Invoices paid in the month after sale 60% Invoices pain in the second month after sale 20% Invoices paid in the third month after sale 15% Bad debts 5% Credit sales for June to August 2014 or budgeted as follows: June Rs. 1,00,000 July Rs. 1,50,000 August Rs. 1,30,000 customers pain in the month after sale are entitled to deduct a 2% cash discount. Invoices are issued on the last day of the month. The amount budgeted to be received in September 2014 from credit sales is
• Costs incurred for the maintenance of inventory is called
• Such expenses which are included (even though they are not incurred) for taking managerial decisions are called………………
• 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
• ……………………are costs which have been applied against revenue of particular accounting period.
• In ________ costing the cost of a group of products is ascertained.
• 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.
• Expenses incurred during production other than direct materials and direct labour are called…………..factory expenses; those charged to production on estimated basis are called …………….
• The excess of overheads absorbed over the actual amount of overheads incurred is called: -
• ……………..is the amount by which the absorbed overheads fall short of the actual amount of overheads incurred.