Costing - Practice Test | ExamPrepSheets

(A) products

(B) service

(C) Both A and B

(D) None of these

(B) service

(A) 566 units

(B) 800 units

(C) 2530 units

(D) 900 units

(B) 800 units

(A) $$frac{{{ ext{Number of actual working days in a period}}}}{{{ ext{Number of working days in the budget period}}}} imes 100$$

(B) $$frac{{{ ext{Actual hours worked}}}}{{{ ext{Budgeted hours}}}} imes 100$$

(C) $$frac{{{ ext{Standard hours for actual production}}}}{{{ ext{Actual hours worked}}}} imes 100$$

(D) $$frac{{{ ext{Standard hours for actual production}}}}{{{ ext{Budgeted standard hours}}}} imes 100$$

(A) $$frac{{{ ext{Number of actual working days in a period}}}}{{{ ext{Number of working days in the budget period}}}} imes 100$$

(A) Cash ratio

(B) Cost ratio

(C) Stock velocity

(D) Profit ratio

(C) Stock velocity

(A) is sometimes used as a basis for cost planning and product pricing

(B) includes only manufacturing costs incurred over the life of the product

(C) includes only manufacturing cost, selling expenses and distribution expense

(D) emphasises cost savings opportunities during the manufacturing cycle

(A) is sometimes used as a basis for cost planning and product pricing

Costing - Study Mode