Cost and Managerial Accounting

241. Re-ordering level = ______________ X Maximum re-order period

1. Average re-order period
2. Maximum usage
3. Maximum consumption
4. Normal usage

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242. The requirements of a particular job are known as ______________

1. Job description
2. job specifications
3. job evaluation
4. both a & b

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243. In time wage system, wages are paid according to the ______________

1. Production
2. time
3. both a & b
4. none of these

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244. Under Merrick's multiple piece rate system, 110% of the ordinary piece rate is given to workers whose level of performance is between. of the standard output.

1. 83% and 100%
2. 100% and 120%
3. 0% and 83%
4. none of these

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245. Basis of apportionment of crèche expenses is ______________

1. Number of employees
2. number of female employees
3. number of male employees
4. both b&c

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246. The per unit expense of the ______________ portion factory overhead varies with the volume of production while ______________ portion remains the same with volume.

1. Fixed, variable
2. variable, fixed
3. variable, semi-variable
4. none of these

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247. Unsuccessful research expenditure should be ______________ cost accounts.

1. Excluded from
2. included in
3. apportioned in
4. none of these

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248. Printers use ______________ costing.

1. Process
2. Batch
3. job
4. contract

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249. The ______________ costing is applied when a quantity of similar and identical products are manufactured together as one Job.

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

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250. The sum of value of work certified and uncertified appearing in the Contract Account is called ______________

1. Work in Progress
2. Work in Process
3. Work Completed
4. Work done.

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