1751. When units are lost at the end of the production process , the cost is charged to :
A. Factory overhead
B. Work in progress
C. Selling expenses
D. Completed units *
1752. The term economic batch quantity is used in relation to :
A. Operating costing
B. Process costing
C. Batch costing *
D. Unit costing
1753. An advantage of incorporating inter process profits in accounts is that :
A. Profitability of each process is separately revealed *
B. Company can earn higher profits
C. It helps in the control of cost in process
D. None of them
1754. Contribution to an interaction is 4,000 units and typical lost is 20 % . At the point when completed yield in the process is just 3240 units there is a :
A. Abnormal loss of 40 units
B. Abnormal loss of 40 units *
C. Neither abnormal loss nor abnormal gain
D. None of them
1755. Hopeless company, Which uses FIFO method in process costing , began the current year with 300 units 50% completed, transferred out 5,000 completed units during the year and ended with 500 units 7-% completed Equivalent production for the period was :
A. 5,000
B. 5,200 *
C. 4,700
D. 5,800
1756. Classification and accumulation of costs by fixed and variable costs is of special importance in :
A. Process costing
B. Operating costing
C. Unit costing
D. Operating costing *
1757. Joint product maufacturing in fundamental in :
A. Automobile industry
B. Oil Refineries *
C. Engineering company
D. All of the above
1758. Individual products, each ofa significant sale value , produced simultaneously from the same raw materials, should be known as :
A. By products
B. Joint products *
C. Main products
D. Common products
1759. Total manufacturing costs are divided by the total number of units produced to obtain a cost per unit under the :
A. Average unit cost method
B. Physical unit measurement method *
C. Sales value method
D. None of them
1760. Which of the following are virtually always subsequent costs :
A. Raw material costs
B. Selling and distribution cost *
C. Direct labour cost
D. None of these