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MCQs: Marginal costing is also known as
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MCQs: Which of the following statements are true about marginal costing?
A) Marginal costing is not an independent system of costing.
B) In marginal costing all elements of cost are divided into fixed and variable components.
C) In marginal costing fixed costs are treated as product cost.
D) Marginal costing is not a technique of cost analysis.
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MCQs: While making key factor decision, if raw material is key factor then such product should be preferred in which offer:
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MCQs: Change in product mix decision should be merely based on contribution.
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MCQs: If direct labor is not affected by the change in the type of material, it will form a part of differential cost.
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MCQs: P/V ratio can be calculated on the basis of variable cost ratio as
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MCQs: Determine P/V ratio if Sales is Rs 80,000 and Variable cost is Rs 60,000.
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MCQs: Determine P/V ratio if Sales is Rs 1,00,000, Fixed cost is Rs 30,000 and Profit is Rs 20,000.
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MCQs: Determine P/V ratio if Sales per unit is Rs 10 and Variable cost per unit is Rs 7.
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MCQs: Compute P/V ratio if variable cost ratio is 60%.
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MCQs: In budgetary control_____ is used whereas in standard costing _________ is used.
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MCQs: Which of the following statements are not true?
A) In standard costing standards relies on technical assessment whereas budgetary targets are based on past actual adjusted to future trend.
B) The scope of standard costing is much wider than budgetary control.
C) Budgetary control demands functional coordination whereas it is not the case with standard costing.
D) Standard costing prescribes a monetary limit which cannot be crossed.
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MCQs: The process of standard costing
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MCQs: The process of budgeting helps in the control of
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MCQs: Budgets are based on plan estimates and therefore budgeting is an effective substitute for management.
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MCQs: Budgetary control does not depend on changing business situations like inflation and economic recession.
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MCQs: The payment of salary, wages, overheads, cash purchase and payment to creditors are form of
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MCQs: The payment of income tax, dividend, interest, and donation are examples of
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MCQs: In order to prepare a flexible budget, items of anticipated expenditures are classified into _______ classes.
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MCQs: Variable cost is also known as
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