The classification of fixed and variable cost has a specific significance in the preparation of

Related MCQs

• The difference between fixed and variable cost has a special significance in the preparation of
• ABC Ltd. has furnished the following information for 4,000 units of product for the year 2014-2015 : Particulars Rs. Direct materials 2,50,000 Direct labour 2,00,000 Manufacturing overheads 2,80,000 (40 % fixed) Selling and administrative overheads 2,70,000 (30 % fixed) The total cost of 4,380 unit is
• The primary difference between a fixed budget and a variable(flexible) budget is that a fixed budget:
• 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 statement prepared to provide detailed cost of a cost centre or cost unit is
• ……………costs are partly fixed and partly variable in relation to output.
• ……………….expenses are partly fixed and partly variable.
• These types of costs are partly fixed & partly variable is relation to output:-
• Fixed cost per unit …………………… with rise in output and …………… with fall in output.