Cost Accounting Test 6
| Description: Useful for commerce students, SET, UGC and other exams. | |
| Number of Questions: 28 | |
| Created by: Jatin Goyal | |
| Tags: Cost Accounting Marginal Costing and Differential Cost Analysis Budgeting and Budgetary Control Standard Costing and Variance Analysis |
Directions: Choose the correct option for the given question.
_____ helps the management in cost control.
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Profit planning is possible with _____ costing.
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Marginal costing helps in price fixation more in the period of
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______ is the system most useful for making make or buy decisions.
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Marginal costing and _____ analysis helps in decision-making.
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Key factor is taken into consideration to judge the _____ of different products, whenever there is any shortage.
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A decrease in the variable cost per unit _____ the P/V ratio.
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There will be _____ in marginal costing, when there is production but no sales.
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An increase in physical sales volume _____ P/V ratio.
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A 10% increase in selling price per unit and 10% decrease in physical sales volume ____ P/V ratio.
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In marginal costing, managerial decisions are guided by ____ than by profit.
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There will be difference in profits under absorption costing and marginal costing, when production is ____ sales.
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_____ is a budget starts from zero.
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Marginal costing is a technique of _____
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_____ is the act of building budgets.
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Budgeting system _____ key managerial functions.
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A ______ is useful only when the actual level of activity corresponds to the budgeted level of activity.
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_____ is a predetermined cost.
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______ is the budget incorporating all the component functional budgets.
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In differential cost analysis, decisions are taken by comparing the ____ with differential cost.
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_____ forms the basis on which all other budgets are built up.
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______ is the most important budget.
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_____ costing is widely used in engineering industries.
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Idle time x _____ gives the idle time variance.
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Three types of standards are current standard, basic standard and _____ standard.
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_____ is a major constraint on all the operational activities of the organisation.
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Standard cost is a/an
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Deviation of actual cost or profit or sales from the standard cost or profit or sales is called