Costing MCQs

Question 1

For printing of wedding invitation card the most appropriate costing system is

Accepted Answer

Job costing

Answer

Process costing

Answer

Contract costing

Answer

Unit costing

Question 2

An opportunity cost is . . . . . . . .

Accepted Answer

the advantage foregone

Answer

the cost

Answer

the income

Answer

None of the above

Question 3

. . . . . . . . Accounting provides information for cost control.

Accepted Answer

Cost

Answer

Financial

Answer

Human Resource

Answer

None of these

Question 4

The concept of economic order quantity is concerned with

Accepted Answer

Technique of inventory control

Answer

Technique of warehousing of inventory

Answer

Technique of inventory consumption in production process

Answer

Technique of control of wastage of inventory

Question 5

. . . . . . . . is a method of evaluating the job in terms of its money value.

Accepted Answer

Job evaluation

Answer

Job analysis

Answer

Work measurement

Answer

Motion study

Question 6

. . . . . . . . is a summary of all function budgets in a Capsule form.

Accepted Answer

Master budget

Answer

Sales budget

Answer

Performance budget

Answer

Cash budget

Question 7

Mr. Ram has to buy 4000 units. His annual consumption is 4000 units, order cost is Rs. 80 and maintenance cost in a year is Rs. 4. Economic order quantity will be

Accepted Answer

400 units

Answer

100 units

Answer

200 units

Answer

300 units

Question 8

VED analysis is related to

Accepted Answer

Materials

Answer

Management

Answer

Machines

Answer

Workers

Question 9

. . . . . . . . costs are partly fixed and partly variable in relation to output:

Accepted Answer

Answer

Indirect

Answer

Prime

Answer

Works

Answer