Costs incurred for the maintenance of inventory is called

Related MCQs

• 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?
• 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
• Costs which are ascertained after they have been incurred are called
• Inventory turnover ratio = Cost of inventory consumed during the period ÷ Cost of ……………………held during the period
• Inventory turnover ratio = Cost of …………………..during the period ÷ Cost of average inventory held during the period.
• Certain overhead costs cannot be directly charged to a department or cost centres. The process of distribution of such overhead costs to various departments is called
• Expenses incurred during production other than direct materials and direct labour are called…………..factory expenses; those charged to production on estimated basis are called …………….
• Such expenses which are included (even though they are not incurred) for taking managerial decisions are called………………
• The excess of overheads absorbed over the actual amount of overheads incurred is called: -
• In a period Rs. 50,000 was incurred on indirect labour. In a Cost Ledger, the double entry will be: