MCQOPTIONS
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MCQOPTIONS
This section includes 5 Mcqs, each offering curated multiple-choice questions to sharpen your Cost Accounting knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Direct Wages 2,05,000 and Factory Cost 5,60,000. If the ratio of direct wages and factory overhead is 5 : 3 then Direct Material Cost will be |
| A. | 2,32,000 |
| B. | 3,50,000 |
| C. | 3,41,667 |
| D. | 2,24,000 |
| Answer» B. 3,50,000 | |
| 2. |
When re-ordering level is 200 units, minimum usage is 20 units, minimum lead time is 5 days, maximum stock is 400 units then re-ordering quantity will be: |
| A. | 400 units |
| B. | 200 units |
| C. | 300 units |
| D. | 100 units |
| Answer» D. 100 units | |
| 3. |
From the following information, find out purchases when raw material consumed is 26,500; Closing stock 4,500 and opening stock 3,000. |
| A. | 26,500 |
| B. | 25,000 |
| C. | 28,000 |
| D. | 34,000 |
| Answer» D. 34,000 | |
| 4. |
Costs are classified between direct and indirect costs according to method of classification by |
| A. | Nature or Element |
| B. | Functions |
| C. | Degree of traceability to product |
| D. | Change in Activity or Volume |
| Answer» D. Change in Activity or Volume | |
| 5. |
The branch of the accounting dealing with the classification, recording, allocation, summarizing and reporting of current and prospective costs, is known as |
| A. | Financial Accounting |
| B. | Management Accounting 26 |
| C. | Cost Accounting |
| D. | Cost Accountancy |
| Answer» D. Cost Accountancy | |