Cost and Managerial Accounting

311. ______________ is maintained to know how the worker's time shown by the time card is spent on various jobs.

1. Daily time sheets
2. weekly time sheets
3. job cards
4. none of the above

View answer

312. Under piece rate system of wage payment, payment is made according to the ______________

1. Quantity of work done
2. time
3. both a&b
4. none of these

View answer

313. In ______________, two piece rates are set for each job.

1. Merrick's multiple piece rate system
2. Rowan's Premium Plan
3. Taylor's differential piece rate system
4. none of these

View answer

314. When ______________ is used on the basis of budgeted overheads and the rate is applied to the actual base, the actual overhead expenses may be different from the charged overheads.

1. A predetermined rate
2. actual rate method of absorption
3. both a & b
4. none of these

View answer

315. ______________ expenses are partly fixed and partly variable.

1. All expenses
2. variable
3. fixed
4. semi-variable

View answer

316. When factory overhead control account has an ending debit balance, factory overhead was ______________

1. Over applied
2. under applied
3. both a & b
4. none of these

View answer

317. Each job has a ______________ prepared for it that bears the job number and which is used to collect all cost data relating to job.

1. Job Time Sheet
2. Job Cost Card
3. Job Ticket
4. Job Account

View answer

318. The loss incurred on an incomplete contract is transferred to ______________ account.

1. Costing profit and loss account
2. profit and loss account
3. trading account
4. deferred to next year.

View answer

319. ______________ is the most suitable method in a transport industry.

1. Operation costing
2. Service costing
3. Process costing
4. Job costing

View answer

320. In electricity supply company uses ______________ as cost unit.

1. Kilo watt hour
2. per household
3. voltage
4. none of these

View answer