Costing - Study Mode

[#706] Single or multiple units of distinct services or products are classified as
Correct Answer

(B) job

Explanation

Solution: Single or multiple units of distinct services or products are classified as job.

[#707] A document which consists information about labour time usage, for specific job in a specific department, is known as
Correct Answer

(B) labour time record

Explanation

Solution: A document which consists information about labour time usage, for specific job in a specific department, is known as labour time record. A document which records the amount of time spent by an employee, showing the analysis between a numbers of activities during a payment period. It may record the wages (labour cost) of the time spent.

[#708] If budgeted total direct labour hours are 3800 and budgeted direct labour cost is $480000, then budgeted direct labour cost rate will be
Correct Answer

(A) $126.32 per labour hour

Explanation

Solution: Budgeted direct labour cost rate = Budgeted direct labour cost ÷ Budgeted total direct labour hours = $480000 ÷ 3800 = $126.32 per labour hour

[#709] If budgeted total direct labour hours are 5500 and budgeted direct labour cost is $755000, then budgeted direct labour cost rate is
Correct Answer

(B) $137.27 per hour

Explanation

Solution: Budgeted direct labour cost = Budgeted direct labour cost ÷ Budgeted total direct labour hours = $755000 ÷ 5500 = $137.27 per hour

[#710] The type of standard best suitable for cost control purpose is:
Correct Answer

(D) Expected standard