Management Accounting - Study Mode
[#111] Standard costing refers to
Correct Answer
(A) a repetitive series of standardised operations are carried out
[#112] The accountant's concept of marginal cost differs from the Economist's concept of marginal cost in the matter of exclusion of
Correct Answer
(C) fixed cost
[#113] The standard cost of a product is
Correct Answer
(C) the planned unit cost of products produced during a particular period
[#114] Match the following. List-I List-II a. Performance budgeting 1. Fixed budget b. Zero base budgeting 2. Production oriented c. Summary of all functional budgets 3. Jimmy Carter d. Remain unchanged irrespective of level of activity actually attained 4. Master budget
Correct Answer
(D) a-2, b-3, c-4, d-1
[#115] What is the effect of increase in fixed cost?
Correct Answer
(B) Raises break-even point