Cost and Managerial Accounting

261. Volume variance arises because of :

1. Increase in overhead rate per hour
2. Decrease in overhead rate per hour
3. Increase or decrease in actual output as compared to the budgeted output.
4. Difference in budgeted overheads and actual overheads.

View answer

262. Cost accounting disclose ______________

1. The Financial position
2. profit/loss of a product, job or service
3. effect and impact of cost on business
4. none of these

View answer

263. ______________ costing is applicable to printers.

1. Process
2. batch
3. multiple
4. job

View answer

264. The ordinary trading account is a locked storehouse of most valuable information to which cost system is the ______________

1. Key
2. lock
3. house
4. none of these

View answer

265. The total variable cost ______________ in total proportion to output.

1. Increases
2. does not increase
3. decreases
4. none of these.

View answer

266. Variable cost increases with ______________ in output.

1. Increase
2. decrease
3. increase or decrease
4. none of these.

View answer

267. Standard costs is ______________

1. Predetermined cost
2. budgeted cost
3. Actual cost
4. none of these

View answer

268. The total of all direct expenses is known as ______________ cost.

1. Prime
2. Works
3. Production
4. both a & b

View answer

269. Out of pocket costs involve payment to ______________

1. Outsiders
2. self
3. employees
4. none of the above

View answer

270. Bin card is a record of ______________ only.

1. Cost
2. value
3. quantity
4. expense

View answer