Cost Accounting MCQ
What Is Cost Accounting?
Cost accounting is a method of managerial accounting which aims to capture the total production cost of a business by measuring the variable costs of each production phase as well as fixed costs, such as a lease expense.
Examples include rent, depreciation, interest on loans and lease expenses. Direct, indirect, fixed, and variable are the 4 main kinds of cost. In addition to this, you might also want to look into operating costs, opportunity costs, sunk costs, and controllable costs.
111. …………… are prepared to know the reason of idle time
a) Idle time card
b) Time card
c) Cost card
Answer:- a
112. Under time wage system, wages are paid according to the
a) Time recorded
b) Time worked
c) Idle time
Answer:- a
113. ……… method of wage payment provides for high rate to efficient workers
a) Taylors differential piece rate system
b) Gant’s task piece rate system
c) Time rate system
Answer:- a
114. Normally overtime payment is made at
a) Three times
b) Two times
c) Four times
Answer:- b
115. Which of the following is not premium bonus plan
a) Halsey plan
b) Rowan plan
c) Merickls plan
Answer:- c
116. Fringe benefit means
a) Monetary benefit
b) Non – monetary benefit
c) Direct wages
Answer:- b
117. The recording of time of the workers arrival and departure from the factory is
a) Time keeping
b) Time booking
c) Over time
Answer:- a
118. ……………… is concerned with discovering the source of man power required and tapping these sources
a) Recruitment
b) Placement
c) Refreshment
Answer:- a
119. Under piece wage system, payment of wager is made according to the
a) Time spent
b) Volume of work done
c) Value of work done
Answer:- b
120. Labour expended in converting raw material into finished goods is called
a) Direct labour
b) Indirect labour
c) Both a & b
Answer:- a
