1771. A bakery produces cakes,biscuits and bread. These products should be treated as :

A. Joint products
B. Co-Products *
C. By-Products
D. Main products

1772. A method of apportionment of joint costs to various joint products on the basis of their respective capacities to bear joint costs is :

A. Sales value method *
B. Physical units methods
C. Average cost methods
D. Marginal cost and contribution method

1773. Given : Input 1,000 units cost of production 1,850 $, Normal loss 10% of input, Actual loss 50 Units, Scrap value 0.50 $ per unit , What is the abnormal loss/gain?

A. 50 Units abnormal gain *
B. 50 Units abnormal loss
C. 100 Units abnormal gain
D. 100 Units abnormal loss

1774. Output of a process was 2,500 units normal loss is 10% of input and abnormal loss 200 units . How many units were introduced in the process ?

A. 2,700
B. 3,200
C. 3,000 *
D. 3,500

1775. When quantity sold is 18,000 units, opening stock 2,000 units and closing stock 3,000 units, what is the quantity produced ?

A. 16,000 units
B. 19,000 units *
C. 17,000 units
D. 20,000 units

1776. A transport company is running 3 bases with 5 passengers each, covering a distance of 1000 km daily. What is the number of passenger km. Per day?

A. 5,000
B. 3,000
C. 15,000 *
D. 10,000

1777. Cost and Financial accounts are reconciled under :

A. Integral system
B. Under Both A and B
C. Non- Integral system *
D. None of the above

1778. Which of the following accounts make the cost ledger self-balancing ?

A. Overhead adjustment account
B. Costing P and L account
C. Cost ledger control account *
D. None of the above

1779. Costing profit and loss account does not record the :

A. Sales value of goods
B. Balance of overhead adjustment account
C. Balance of cost of sales account
D. Balance of stores ledger control account *

1780. The closing balance of cost of sales account is transferred to :

A. Cost ledger control account
B. Selling and distribution overhead account
C. Costing profit and loss account *
D. None of the above