Costing - Study Mode

[#846] In normal costing, manufacturing overhead allocated is also called
Correct Answer

(A) manufacturing overhead applied

Explanation

Solution: In normal costing, manufacturing overhead allocated is also called manufacturing overhead applied. Manufacturing overhead is all indirect costs incurred during the production process. This overhead is applied to the units produced within a reporting period.

[#847] The value of opening stock as on 1 st January 2003 was Rs. 7,000 stock of Rs. 23,000 in January were purchased. COGS was Rs. 21,000. What was the value of closing stock as on 31 st January, 2003?
Correct Answer

(D) Rs. 9,000

[#848] Equivalent units represent the production of a process in terms of . . . . . . . . units.
Correct Answer

(A) completed

[#849] Administration expenses are mostly . . . . . . . .
Correct Answer

(C) fixed

[#850] For conducting . . . . . . . . workers are studied at their jobs and all their movements and motions are noted.
Correct Answer

(B) motion study