The term “cost” refers to

Related MCQs

• 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
• A statement prepared to provide detailed cost of a cost centre or cost unit is
• Cost behaviour refers to
• 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
• The double entry for factory cost of production in a cost ledger is
• Cost Accountancy is the science, art and ……………….of a cost accountant.
• Cost centre and cost unit are……………………
• …………..cost is irrecoverable cost.
• Inventory turnover ratio = Cost of inventory consumed during the period ÷ Cost of ……………………held during the period
• ………….is a technique of material cost control which leads to low carrying cost as a result of low investment in inventory