Cost Accounting Test
| Description: Useful for commerce students, SET, UGC exams etc | |
| Number of Questions: 30 | |
| Created by: Vijay Palan | |
| Tags: COMMERCE Inventory Valuation and Control Cost Accounting |
Directions: Choose the correct option for the given question:
Material abstract is also known as
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Material should be issued by the storekeeper against
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FIFO method is suitable in time of
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LIFO method is suitable in times of
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Average cost method of inventory valuation is suitable when
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Inflated price method of inventory valuation is suitable when.......
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Bin card is a record of _____ only.
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_____ represents remains of materials that are left from certain type of manufacture.
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Normal waste ____ part of cost of production.
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A bill of material serves the purpose of
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______ is not a part of cost of production.
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_______ is/ are that portion of production which can be rectified at some extra cost of production.
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Abnormal loss should be transferred to
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_______ is the second major element of cost.
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Payment of idle time arises only when workers are paid on _____ basis.
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______ is a method of evaluating job in terms of its money.
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Workers sent to the premises of customers are called
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Preventive costs and ______ are two types of costs of labour turnover.
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_______ is the analysis of each job to determine a list of qualification needed by workers to perform the work satisfactorily.
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Job card is used to know how the worker's time shown by the time card is spent
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____ is obtained by the formula; Number of workers replaced during the period / average number of workers during the period x 100.
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Cost of abnormal idle time is transferred to
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Idle time may be
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______ is prepared to know the reasons of idle time.
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Wage sheet is prepared by
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Labour turnover is calculated by as
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______ is/are the most suitable method(s) of wage payment when quality of work is of prime importance.
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In time wage system, wages are paid according to the
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Under ______ method of wage payment, wages are paid according to the quantity of work done.
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______ method of wage payment provides for high rate to efficient workers.