In which method of material issues, production is charged at the recent prices?

Related MCQs

• Expenses incurred during production other than direct materials and direct labour are called…………..factory expenses; those charged to production on estimated basis are called …………….
• First in first out method of valuing material issues is suitable in times of…………
• Average cost method of valuing material issues is suitable when………….
• Inflated price method of valuing material issues is suitable when…………
• 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?
• Entry under Integrated system for : Issues of Direct Materials for production
• Material price variance is the difference between standard and actual prices of materials used multiplied by………………..
• 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
• …………………represents that quantity of material which is normally ordered when a particular material reaches reordering level.