An aggregate of indirect material, indirect labourand indirect expenses is called

Related MCQs

• Classification of overheads into indirect material, indirect labour and indirect expenses come under:
• Expenses incurred during production other than direct materials and direct labour are called…………..factory expenses; those charged to production on estimated basis are called …………….
• Direct material + Directlabour + direct expenses =
• Indirect material used in production is classified as: -
• Indirect material scrap is adjusted along with: -
• Such expenses which are included (even though they are not incurred) for taking managerial decisions are called………………
• 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?
• …………………represents that quantity of material which is normally ordered when a particular material reaches reordering level.
• Material Usage Variance=Material Mix Variance +…………..
• Administration expenses are mostly……………….