Cost and Managerial Accounting

341. ______________ obviates the necessity for the physical checking of all items of stores at the end of the year and thereby avoids dislocation of production.

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

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342. Qualities demanded from the job holder is technically known as ______________

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

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343. For a work order, standard time and time taken are 20 hours and 15 hours respectively. Time rate being Rs. 2 per hour, total wages payable under Rowan Premium Plan will be ______________

1. 40
2. 37.50
3. 35
4. none of these

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344. Under step method of re-apportionment of costs of service departments, the cost of last service department is apportioned only to the ______________

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

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345. ______________ expenses are excluded from cost.

1. Normal
2. abnormal
3. both a & b
4. none of these

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346. Primary packing is an item of ______________

1. Selling overheads
2. prime cost
3. distribution overheads
4. factory overheads

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347. Material Costs of each job are de termined from ______________

1. Material requisition notes
2. bill of materials
3. both a & b
4. none of these

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348. Service costing is called as ______________

1. Operation costing
2. Operating costing
3. multiple costing
4. none of these

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349. If the present cost of the car is Rs.1,00,000 residual value at the end of the 5th year is Rs.20,000, the monthly depreciation is ______________

1. Rs.20,000
2. Rs.16,000
3. Rs.1,333
4. Rs.17,333

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350. In inter process profits, the output of one process is transferred from one process to another not at ______________ but at ______________

1. Market price, actual cost
2. Actual cost, market price
3. both a& b
4. none of these

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