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.
171. Delivery van expenses is a ______________expense
a) Variable
b) Semi variable
c) Fixed
Answer:- a
172. Experimental expenses to develop a product
a) Fixed
b) Variable
c) Semi variable
Answer:- a
173. Apportionment of rent and rates are done on the basis of___________
a) No. of workers
b) Floor area
c) Wages
Answer:- b
174. Machine hour rate is the calculation of running a machine per
a) Year
b) Day
c) Hour
Answer:- c
175. Store services expenses is apportioned on the basis of]
a) Wages of each department
b) No. of female employees
c) Value of material consumed
Answer:- c
176. Wage sheet is prepared by
a) Personnel department
b) Payroll department
c) Cost accounting department
Answer:- b
177. The most suitable method of wage payment where the speed of production is beyond the control of worker
a) Time rate method
b) Piece rate method
c) Rowan premium plan
Answer:- a
178. For reducing the cost per unit which of the following factors is most important
a) Low wage rate
b) Higher input output rate
c) Strict control supervision
Answer:- b
179. Labor turnover is a_______________
a) Preventive costs
b) Direct cost
c) Fixed cost
Answer:- a
180. In factory where piece work system is followed with guaranteed minimum wages of Rs.12 (for 8 hrs) incentive payments are according to rowan bonus scheme. The standard time per unit in 10 minutes. If a five day week of 40 working hour the actual production is 300 units, the total earnings of the worker is __________
a) Rs.640
b) Rs.720
c) Rs.750
Answer:- b
