Cost and Managerial Accounting

281. Economic Batch Quantity is an important point to be determined in industries where ______________ costing is employed.

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

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282. If the amount of work certified is less than ______________ of the contract price, then no profit should be taken to Profit & Loss Account.

1. 20%
2. 25%
3. 33 1/3%
4. 40%

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283. Maintenance charges are in the nature of ______________ expenses.

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

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284. Boiler house costing is an example of ______________ costing

1. Operation
2. process
3. service
4. none of these

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285. Average unit cost for each process is calculated by dividing the ______________ by ______________

1. Total cost, number of units
2. total process cost, number of units in process
3. Total process cost, number of finished goods
4. total cost, number of units produced

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286. When actual loss is ______________ than the estimated loss, the difference between the two is considered to be abnormal loss.

1. More
2. less
3. both a & b)
4. none of these

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287. An input of 5000kg of material introduced into the process and the expected loss is 8% and if the actual output from the process is 4300, the abnormal loss is ______________ kg

1. 400
2. 300
3. 500
4. 600

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288. ______________ budget may be classified into material cost budget, labour cost budget and overhead budget.

1. Cost of Production
2. purchase
3. sales
4. Cash

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289. Activity Ratio=

1. Number of actual working days in a period x 100
   Number of working days in the budget period
2. Actual hours worked x 100
   Budgeted hours
3. Standard hours for actual production x 100
   Actual hours worked
4. Standard hours for actual production x 100
   Budgeted standard hours

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290. Overhead expenses can be classified according to:

1. Functions
2. Elements
3. Behavior
4. All of the above

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