Web22 jan. 2024 · Standard Costing MCQs 8. Management Accounting MCQs Choose the correct alternatives: 1. Marginal costing is a: a) Method of costing b) Technique of costing c) Formula of costing d) System of costing Ans: b) Technique of costing 2. Contribution margin is also known as: a) Marginal income b) Marginal cost c) Gross profit d) Net income WebCost is easily determined, numbers are comparable between financial statements, and historical cost is easy to understand. You can make assumptions and estimates regarding the cost of an item...
Standard Costing - Finance (MCQ) Questions and answers
WebStandard Costing Questions - Vskills Practice Tests. Become a certified professional try MCQ on Standard Costing from Vskills and boost your resume for better opportunities. … WebA standard cost is a predetermined estimated unit cost of a product or service. Therefore, a standard cost represents a target cost. @aCOWtancy your summarized notes and short videos really helped me in my CA journey and am now done with the exam component of CA... Really appreciate Bambi Roy @bambiiroy Apr 26th number if rows for a knitted scarf
TOP 15 Cost Accounting MCQ With Answers - Indiaclass
WebMeaning of uniform costing: Uniform costing is neither a costing method like job costing or process costing nor it is a costing system like standard costing or historical costing but a particular system which may combine any of the costing methods and any one or more system of costing. It is the application and use of the same costing principles and … WebIn responsibility accounting, a center’s performance is measured by controllable costs. Controllable costs arebest described as including. Direct material and direct labor only. Only those costs that the manager can influence in the current time period. Only discretionary costs. Those costs about which the manager is knowledgeable and informed. WebIn a standard cost system, Work in Process Inventory is ordinarily debited with. A. actual costs of material and labor and a predetermined overhead cost for overhead. B. … number hospital beds usa