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Introduction To Cost Accounting Quiz 6 (25 MCQs)

Quiz Instructions:

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1. Under allocated indirect cost is also called as:
2. Cost unit applicable for bus transport business
3. Effective planning of variable overhead costs means that a company performs those variable overhead costs that primarily add value for:
4. Ahmad worked as account assistant. He was paid RM25 per hour. He worked 45 hours and normal working hours is 40 hours. What is the basic pay for Ahmad?
5. Depending on the terms of contract, the contractee may pay only 80% to 90% of work certified to the contractor. This is referred to as _____
6. Under Gantt's Task & Bonus plan, no bonus is payable to a worker if his efficiency is less than
7. In cost accounting, a cost object is
8. Management accounting includes all of the following EXCEPT
9. A method of costing applied where costs are collected and accumulated for each work order.
10. Calculate closing stock for Bb factory if information of the stock for 2019 is as follows:Opening stock 2500Production units 20 000Sales units 21 000
11. The MAJOR challenge when planning fixed overhead is:
12. In costing, this is normal output that we may face EXCEPT:
13. Variable costs are conventionally deemed to be
14. Standard time allowed for job is 20 hours and the rate/ hour is Rs.1 and actual hours worked is 15 hours. Calculate earnings under Rowan plan.
15. Direct Materials
16. Management has to decide between to alternative choices of action. Which of the following costs are relevant to their decision making?
17. Marginal Cost and variable cost both are synonyms
18. _____ time refers to the time for which wages are paid without any production
19. Stock turnover ratio is calculated between cost of goods sold and _____
20. The following are example of indirect labour, EXCEPT _____
21. Which among the following is concerned with reducing cost?
22. Which of the following groups would be LEAST likely to receive detailed management accountingreports?
23. Salary paid to general manager is an item of _____ expenses.
24. Level of activity where total revenues equals total variable cost and fixed cost
25. Contract price is fixed in advance in case of
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