Costing - Practice Test | ExamPrepSheets

(A) Standard usage - actual usage

(B) Standard unit price - actual unit price

(C) Standard quantity

(D) Actual quantity

(A) Standard usage - actual usage

(A) Only 1

(B) Only 2

(C) Both 1 and 2

(D) Neither 1 nor 2

(B) Only 2

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

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

(A) Cash

(B) Gold

(C) Inventories

(D) Advance for supply of raw materials

(C) Inventories

(A) Rs. 1,000

(B) Rs. 8,000

(C) Rs. 64,000

(D) Rs. 7,992

(C) Rs. 64,000

Costing - Study Mode