Inter PN-8 Cost Accounting Quiz 7

1. Which of the following is not an element of works overhead?

2. What is prime cost ?

3. Which of the following are direct expenses?(1) The cost of special designs, drawings or layouts,(2) The hire of tools or equipment for a particular job,(3) Salesman’s wages,(4) Rent, rates and insurance of a factory

4. Which of the following items is not excluded while preparing a cost sheet?

5. Which of the following items is not included in preparation of cost sheet?

6. CAS 13 stands for:

7.           deals with the principles and methods of determining the production or operation overheads.

8. Which standard deals with the principles and methods of determining the manufacturing Cost of excisable goods?

9. Which standards deals with determination of averages/ equalized transportation cost?

10. Which standards deals with the principles and methods of determining depreciation and amortization cost?

11. Standard deals with the cost of service cost center is:

12. CAS 21 stands for:

13. The following is an example of direct expenses as per CAS-10:

14. Which of the following overhead cost may not be apportioned on the basis of Direct Wages?

15. When Absorbed Overhead is Higher than the amount of Overhead incurred , it is called

16. The difference between Actual Factory Overhead and Absorbed Factory Overhead will be usually at the minimum level , provided pre-determined overhead rate is based on :

17. Which of the following is not treated as a Manufacturing Overhead?

18. packing Cost is part of

19. Distribution of service Department Overheads Cost to production Departments using different assumptions and methods is known as

20. Charging of common Overheads cost to various cost centres, using appropriate bases is known as -

21. Maximum Possible Productive Capacity of a plant when no operating time is lost is its :

22. Capacity is defined as actually utilised capacity of a plant.

23. Fixed over costs are not effected in monetary terms during a fiven period by a change in Output. But this statement is valid provided

24. If Actual Output in 8 hours is 700 units , Standard Output is 90 units per hour , Efficiency Ratio is

25. If Std Time is 8 hours , Actual time is 6 hours ,rate per hour is Rs. 100 , Rwan Wages =