Cost accounting Mcqs with answers

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SEMESTER - 3

COST ACCOUNTING

(CA)

MCQs - SEPTEMBER 2015

1. __________ is one of most classification of costs by nature of production or operation process.

(a) Selling Cost

(b) Batch Cost

(c) Administration Cost

(d) Conversion Cost

2. Any activity, process, product, etc. for which separate measurement of costs is desired is called

(a) Cost Unit

(b) Centre cost

(c) Cost object

(d) Service

3. Under __________ method of pricing, the issue of materials is made using the purchase price of the oldest lot of material in stock.

(a) FIFO

(b) LIFO

(c) Periodic Weighted Average

(d) Periodic Simple Average

4. When a production department requires routine materials from the store department, it raises a requisition is called. 

(a) Bill of material

(b) Store Requisition

(c) Store Requisition

(d) Material Requisition

5. In distribution of overheads to production and service departments, the Labour welfare Expenses are distributed on the basis of

(a) Indirect Wages

(b) Efficiency

(c) No. of Employees

(d) Direct Wages

6. If the overhead absorbed is higher than the actual overheads incurred, it is reffrerd as

(a) Under absorption

(b) Over absorption

(c) Neither Under absorption nor over absorption

(d) Absorption of overheads

7. In a company, there were 1,800 employee at the beginning of the year and 2,200 employees at the end of the year. During the year 200 employees left services and 150 replacement were made. The labour turn ocver under replacement method is __________.

(a) 17.5%

(b) 7.5%

(c) 10%

(d) 2.5%

8. The product that fails to meet quality or dimensional requirmentss and are not capable for rectification is called

(a) Rejects

(b) Scrap

(c) Reworks

(d) Spoilage

9. Under Emerson's efficiency bonus plan, standard output is 400 units per week of 48 hours and Mr. 'E' produced 500 units in a particular week. The hourly wage rate is Rs.40 The earnings of Mr. 'E' is

(a) Rs.1,920

(b) Rs.1,600

(c) Rs.2,000

(d) Rs.2,784

10. __________ means the recording of time of worker's arrival and departure from factory.

(a) Time Booking

(b) Time Keeping

(c) Time Saving

(d) None of them

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