Cost Accounting MCQ
What Is Cost Accounting?
Cost accounting is a method of managerial accounting which aims to capture the total production cost of a business by measuring the variable costs of each production phase as well as fixed costs, such as a lease expense.
Examples include rent, depreciation, interest on loans and lease expenses. Direct, indirect, fixed, and variable are the 4 main kinds of cost. In addition to this, you might also want to look into operating costs, opportunity costs, sunk costs, and controllable costs.
191. _____________plan provide more wages to workers
a) Time rate
b) Rowan plan
c) Halsey plan
Answer:- c
192. Daily time sheets should be signed by _____________
a) Production manager
b) Purchase manager
c) Foreman
Answer:- b
193. The card given to a worker where workers are paid on piece basis in
a) Job card
b) Time card
c) Piece work card
Answer:- c
194. The time taken for personnel needs and tea breaks is ________ time
a) Abnormal idle time
b) Normal idle time
c) None of them
Answer:- c
195. The time wasted due to strikes or lockouts in the factory
a) Abnormal idle time
b) Normal idle time
c) None of them
Answer:- b
196. ______________ card prepared to know the responsible for idle time
a) Job card
b) Piece work card
c) Idle Time card
Answer:- a
197. Absorption of overheads signifies a process of _______
a) Distribution of overheads to all departments
b) Charging of overheads to individual products or job
c) Identification of overheads with individuals cost centers
Answer:- c
198. When the under over absorbed overhead amount is significant, it should be disposed off by
a) Transferring to costing profit and loss account
b) Using supplementary rate
c) Carry over to next year
Answer:- b
199. ______________ expenses will move up by jumps if the output exceeds the capacity
a) Variable expenses
b) Fixed expenses
c) Material expenses
Answer:- b
200. Heavy bad debts are treated as__________
a) Normal
b) Abnormal
c) None of them
Answer:- b
