(A) Cost sheets
(B) Cost of goods sold statement
(C) Cost of production Report
(D) Material requisition form
Tag: Cost accounting Mcqs
A cost centre is:
(A) A unit of product or service in relation to which costs are ascertained
(B) An amount of expenditure attributable to an activity
(C) A production or service location, function, activity or item of equipment for which costs are accumulated
(D) A centre for which an individual budget is drawn up
The cost of electricity bill of the factory is treated as:
(A) Fixed cost
(B) Variable cost
(C) Step cost
(D) Semi variable cost
While transporting petrol, a little quantity will be evaporated; such kind of loss is termed as:
(A) Normal Loss
(B) Abnormal Loss
(C) It is incremental loss
(D) It cannot be abnormal loss
Closing work in process Inventory of last year:
(A) Is treated as Opening inventory for current year
(B) Is not carried forward to next year
(C) Become expense in the next year
(D) Charge to Profit & Loss account
The journal entry of purchase of stock under periodic inventory system would be?
(A) Inventory to Cash
(B) Cash to Purchases
(C) Purchases to Inventory
(D) None of the given options
Which of the following element must be taken into account while calculating total earnings of a worker under different incentive wage schemes?
(A) Rate per unit
(B) Units of production
(C) Extra time taken by employee to complete the production
(D) Number of workers employed
A store ledger card is similar to the ___?
(A) Stock ledger
(B) Bin card
(C) Material card
(D) Purchase requisition card