Cost and Managerial Accounting

201. Fancy packing is an example of ______________ expenses.

1. Selling
2. Distribution
3. administration
4. factory

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202. In ______________ each job is a cost unit to which all costs are assigned.

1. Batch costing
2. Job costing
3. process costing
4. operation costing

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203. Where the work is undertaken to Customers' special requirements and each order is of comparatively short-duration, it is called ______________ costing.

1. Job
2. batch
3. operation
4. output

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204. Contract costing is not used in one of the following industries.

1. Ship building
2. Civil Construction
3. Automobiles
4. Construction of Bridges

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205. In transport costing ______________ charges vary more or less in direct proportion to kilometers run.

1. Running
2. petrol
3. drivers salary
4. tax

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206. Service costing is not used in one of the following:

1. Electricity
2. Hospitals
3. transport
4. Electronics

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207. The method of costing applied in biscuit industries is ______________ costing and in steel industry ______________ costing.

1. Job, process
2. job, contract
3. batch, multiple
4. process, operation

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208. When 1000 units are 60% complete in a process, it is equivalent to ______________ completed units.

1. 60
2. 600
3. 6000
4. 1000

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209. Where actual loss in a process is less than the anticipated loss, the difference between the two is considered to be ______________

1. Abnormal loss
2. normal loss
3. abnormal gain
4. normal gain

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210. Budgeting system ______________ key managerial functions.

1. Dismisses
2. integrates
3. discharges
4. none of these

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