Indirect material used in production is classified as: -

Related MCQs

• An aggregate of indirect material, indirect labourand indirect expenses is called
• Classification of overheads into indirect material, indirect labour and indirect expenses come under:
• 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?
• Indirect material scrap is adjusted along with: -
• ………………….budget may be classified into material cost budget, labour cost budget and overhead budget.
• 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?
• 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
• Expenses incurred during production other than direct materials and direct labour are called…………..factory expenses; those charged to production on estimated basis are called …………….
• 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?
• A material loss during production or storage due to evaporation or shrinkage is called: