751. In the term “Balance C/D”, what does “C/D” stand for?
A. caught down
B. carry down
C. carry does it
D. caught does it

752. The difference over the period of time between actual and applied FOH will usually be minimal when the predetermined overhead rate is based on:
A. Normal capacity
B. Designed capacity
C. Direct Labor hours
D. Machine hours

753. The cost of goods sold was Rs. 240,000. Beginning and ending inventory balances were Rs. 20,000 and Rs. 30,000, respectively. What was the inventory turnover?
A. 8.0 times
B. 12.0 times
C. 7.0 times
D. 9.6 times

754. By using table method where—————- is equal, that point is called Economic order quantity.
A. Ordering cost
B. Carrying cost
C. Ordering and carrying cost
D. Per unit order cost

755. A cost unit is
A. The cost per hour of operating a machine
B. The cost per unit of electricity consumed
C. A unit of product or services in relation to which costs are ascertained
D. A measure of work output in a standard hour

756. Loss by fire is an example of:
A. Normal Loss
B. Abnormal Loss
C. Incremental Loss
D. Cannot be determined

757. The main purpose of cost accounting is to
A. Maximize profits
B. Help in inventory valuation
C. Provide information to management for decision making
D. Aid in the fixation of selling price

758. If, Sales = Rs. 600,000 Markup = 20% of cost What would be the value of Gross profit?
A.Rs. 200,000
B.Rs. 100,000
C.Rs. 580,000
D.Rs. 740,000

759. Where the applied FOH cost is less than the actual FOH cost it is:
A. Unfavorable variance
B. Favorable variance
C. Normal variance
D. Budgeted variance

760. When the applied cost is lesser than the actual cost it is unfavorable variance. Which of the following is correct?
A. Units sold=Opening finished goods units + Units produced – Closing finished goods units
B. Units Sold = Units produced + Closing finished goods units – Opening finished goods units
C. Units sold = Sales + Average units of finished goods inventory
D. Units sold = Sales – Average units of finished goods inventory

NOTE
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PLEASE COMMENT WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION IN COMMENT BOX.
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