1. Re-ordering level=_____Maximum reorder period
Ans. Maximum consumption
2. In service costing,fixed charges are also called as
Ans. Standing Charges
3. The type of standard best suitable for cost purpose is
Ans. Expected standard
4. Equivalent units represent the production of a process in terms of _____units.
Ans. Completed
5. The scope of cost accounting include _____and ______
Ans. Cost ascertainment, Cost presentation, Cost control
6. In _____ each job is a cost unit to which all costs are assigned
Ans. Job costing
7. Material price variance is the difference between standard and actual prices of materials used multiplied by
Ans. Actual quantity of materials used
8. In time wage system, wages are paid according to the
Ans. Time
9. Material costs of each job are determined from
Ans. Material requisition notes and bill of materials
10. Cost center and Cost unit are
Ans. Not the Same
Ans. Maximum consumption
2. In service costing,fixed charges are also called as
Ans. Standing Charges
3. The type of standard best suitable for cost purpose is
Ans. Expected standard
4. Equivalent units represent the production of a process in terms of _____units.
Ans. Completed
5. The scope of cost accounting include _____and ______
Ans. Cost ascertainment, Cost presentation, Cost control
6. In _____ each job is a cost unit to which all costs are assigned
Ans. Job costing
7. Material price variance is the difference between standard and actual prices of materials used multiplied by
Ans. Actual quantity of materials used
8. In time wage system, wages are paid according to the
Ans. Time
9. Material costs of each job are determined from
Ans. Material requisition notes and bill of materials
10. Cost center and Cost unit are
Ans. Not the Same
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