Costing MCQs

Match the following. List-I List-II a. Classification of costs into fixed and variable costs 1. Contribution b. Difference between sales and variable costs 2. P/V ratio c. Both fixed and variable costs are charged to product 3. Marginal costing d. Relative profitability 4. Absorption costing

. . . . . . . . costing is used in transport undertakings.

Which technique, used for figures of two or more periods, is placed side by side to facilitate easy and meaningful comparisons?

Labour cost variance is the difference between standard cost of labour and . . . . . . . .

Added value is the change in . . . . . . . .

What does a low proprietary ratio indicates?

Cost accounting originated from-

What is the gearing ratio if debt is Rs. 220, cash balance is Rs. 20, and equity is Rs. 300?

. . . . . . . . budget may be classified into material cost budget, labour cost budget and overhead budget.