Costing MCQs

First in first out method of valuing material issues is suitable in times of . . . . . . . .

The concept of budget that requires all levels to work from scratch is

Match the following. List-I List-II a. Performance budgeting 1. Fixed budget b. Zero base budgeting 2. Production oriented c. Summary of all functional budgets 3. Jimmy Carter d. Remain unchanged irrespective of level of activity actually attained 4. Master budget

Depreciation is . . . . . . . . expenditure.

. . . . . . . . provides information for income determination.

The break-even point in umts is calculated using

The preparation of consolidated balance sheet of holding company and its subsidiary company is done as per

Material price variance is the difference between standard and actual prices of materials used multiplied by . . . . . . . .

In case of materials the key factor may be.