Cost & Management Accounting

Descripción

Cost & Management Accounting Revision
Pavan G
Test por Pavan G, actualizado hace más de 1 año
Pavan G
Creado por Pavan G hace más de 7 años
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Resumen del Recurso

Pregunta 1

Pregunta
[blank_start]Cost Objects[blank_end] are the lowest level where costs are accumulated
Respuesta
  • Cost Objects

Pregunta 2

Pregunta
Prime Cost Consists of
Respuesta
  • Direct Materials
  • Direct Labour
  • Direct Expenses
  • Factory Overhead
  • Manufacturing Cost

Pregunta 3

Pregunta
Which of the following about conversion Cost is true?
Respuesta
  • Conversion cost consists of direct labour and factory overhead
  • Conversion Cost is also called Value-added cost.
  • It provides the information about how much the unit is spending to convert the materials or componenets into end product
  • If conversion cost is high, there is a scope to earn more profit
  • If conversion cost is low, there is a scope to earn more profit
  • cost relates to unit manufactured during the year
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