Costing MCQs

Commerce Objective Questions

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1275. Direct labour means ________.

A. labour which can be conveniently associated with aparticular cost unit

B. labour which completes the work manually

C. permanent labour in the production department

D. labour which is recruited directly and not through contractors

1276. Budgeted income statement and supporting budget schedules are categorized under

A. focused statement

B. slack statement

C. budgeted income statement

D. operating budget

1277. The portion of earnings distributed among shareholders in the form of dividend is called

A. Proprietary ratio

B. Earnings-yield ratio

C. Payout ratio

D. Retention ratio

1278. Efficiency Ratio =

A. $$\frac{{{\text{Number of actual working days in a period}}}}{{{\text{Number of working days in the budget period}}}} \times 100$$

B. $$\frac{{{\text{Actual hours worked}}}}{{{\text{Budgeted hours}}}} \times 100$$

C. $$\frac{{{\text{Standard hours for actual production}}}}{{{\text{Actual hours worked}}}} \times 100$$

D. $$\frac{{{\text{Standard hours for actual production}}}}{{{\text{Budgeted standard hours}}}} \times 100$$

1279. Match the following.

List-I (Variances)	List-II (Formulae)
a. MCV	1. SP (RSQ - AQ)
b. MPV	2. SP (SQ - AQ)
c. MUV	3. AQ consumed (SP - AP)
d. MMV	4. SC - AC

A. a-4, b-3, c-2, d-1

B. a-2, b-1, c-4, d-3

C. a-4, b-1, c-2, d-3

D. a-3, b-4, c-2, d-1

1280. Third step in estimation of cost function, by using quantitative analysis is collection of data for

A. cost and cost object

B. price and cost driver

C. dependent variable and cost driver

D. independent variable and cost driver

1281. Bin card is a record of . . . . . . . . only.

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