Under this method, homogeneous products are taken as cost unit

Related MCQs

• A statement prepared to provide detailed cost of a cost centre or cost unit is
• Cost centre and cost unit are……………………
• The cost which is to be incurred even when a business unit is closed is a ____ cost.
• The cost of labour which is directly engaged in production work and can be conveniently identified to a job, process or cost unit is
• 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.
• 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 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
• 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?
• Under step method of re-apportionment of costs of service departments, the cost of last service department is apportioned only to the …………..
• Cost accounting provides detailed information about …………………of various products, processes, services and operations.