(A) Remain unchanged for fixed cost and increase for variable cost
(B) Increase for fixed cost and remain unchanged for variable cost
(C) Increase for fixed cost and decrease for variable cost
(D) Decrease for both fixed and variable costs
Tag: Cost accounting Mcqs
Which of the following is / are element / s of production payroll?
(A) Direct labor force wages
(B) Administrative wages
(C) Selling wages
(D) All of the given options
Which of the following is a mechanical device to record the exact time of the workers?
(A) Clock Card
(B) Store Card
(C) Token System
(D) Attendance Register
If labor is satisfied with high wages it may ultimately lead to:
(A) Increased production and productivity
(B) Increased efficiency
(C) Reduced labor and overhead costs
(D) All of the given options
In furniture manufacturing use of nail, pins, glue, and polish which use to increase its esteem value that cost is treated as:
(A) Direct material cost
(B) Indirect material cost
(C) FOH cost
(D) Prime cost
__ is the time worked over and above the employee’s basic working week:
(A) Flex time
(B) Overtime
(C) Shift allowance
(D) Commission
Cost of Goods Manufactured can be calculated as follow:
(A) Total factory Cost Add Opening Work in process inventory Less Closing Work in process inventory
(B) Total factory Cost Less Opening Work in process inventory Add Closing Work in process inventory
(C) Total factory Cost Less Opening Work in process inventory Less Closing Work in process inventory
(D) Total factory Cost Add Opening Work in process inventory Add Closing Work in process inventory
Which of the following statement is TRUE about FOH applied rates?
(A) They are used to control overhead costs
(B) They are based on actual data for each period
(C) They are predetermined in advance for each period
(D) None of the given