Cost and Managerial Accounting

301. Variable cost per unit ______________

1. Remains constant
2. varies
3. decreases
4. increases

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302. Abnormal cost is ______________

1. Uncontrollable
2. controllable
3. fixed
4. none of these

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303. Period costs charged to ______________

1. cost of production
2. Products
3. Period
4. none of these

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304. ______________ is the smallest segment of activity or area or responsibility for which costs are accumulated.

1. Cost Object
2. Cost centre
3. cost driver
4. none of the above

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305. ______________ costs are partly fixed and partly variable in relation to output.

1. Variable
2. fixed
3. Semi-variable
4. both a & b

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306. Added value is the change in ______________

1. Market value
2. cost
3. income
4. none of the above.

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307. Bin card is maintained by the ______________

1. Cost accountant
2. Clerk
3. storekeeper
4. branch accountant

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308. A bill of material serves the purpose of ______________

1. Material requisition
2. stores ledger
3. material issue analysis sheet
4. none of these

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309. ______________ is used primarily for control of spare parts.

1. ABC Analysis
2. JIT Inventory System
3. VED Analysis
4. Perpetual Inventory System

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310. Defectives are that portion of production which can be ______________ at some extra cost of re-operation.

1. Sold
2. rectified
3. purchased
4. none of these

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