Cost Accounting MCQ ( Best 200+ )

by Mr. DJ

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.

Cost Accounting MCQ

121. Recording of time spent by a worker on a different job is called
a) Time keeping
b) Time booking
c) Job card keeping

Answer:- c
122. Which of the following is not a fringe benefit
a) Subsidized food
b) Recreational facilities
c) Overtime wages

Answer:- c
123. In …… bonus is that proportion of time taken which the time overhead to the standard time
a) Halsey plan
b) Rowan plan
c) Taylor plan

Answer:- b
124. Work of forman, store keeper, inspector, and production control staff come under

a) Direct labour
b) Indirect labour
c) Factory labour

Answer:- c

125. In ………….. System two piece rates are set for each job
a) Taylors differential piece rate system
b) Merrick plan
c) Rowan

Answer:- a
126. Under Merrick’s plan,no bonus, is payable to a worker if his efficiency is less than
a) 83%
b) Above 83%
c) Above 70%

Answer:- a
127. Idle time arises only when workers are paid on ……….. Basis
a) Time rate
b) Piece rate
c) Premium plan

Answer:- a
128. Overtime due to abnormal causes may be transferred to
a) The job
b) Costing p & l a/c
c) Overhead account

Answer:- b
129. Cost of the normal idle time is charged to production at the ……………. Rate
a) Market
b) Inflated
c) Deflated

Answer:- b
130. Loss of time due to avoidable reason is known as
a) Normal idle time
b) Abnormal idle time
c) Overtime

Answer:- a

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