Costing - Study Mode

[#276] Standard error of regression analysis is known as
Correct Answer

(B) variance of residual

Explanation

Solution: Standard error of regression analysis is known as variance of residual. It is also called unexplained variance.

[#277] An analysis and estimation method of cost, by classifying cost accounts as fixed or variable with respect for specific output level is considered as
Correct Answer

(D) account analysis method

Explanation

Solution: An analysis and estimation method of cost, by classifying cost accounts as fixed or variable with respect for specific output level is considered as account analysis method. The account analysis method is a cost accounting method for estimating the different costs associated with producing a product.

[#278] The technique of standard costing may not be applicable in case of:
Correct Answer

(D) Both B and C

[#279] The method of costing applied in biscuit industries is . . . . . . . . costing and in steel industry . . . . . . . . costing.
Correct Answer

(A) job, process

[#280] When . . . . . . . . is used on the basis of budgeted overheads and the rate is applied to the actual base, the actual overhead expenses may be different from the charged overheads.
Correct Answer

(A) a predetermined rate