Cost Accounting Elements MCQ

Test your knowledge with important Cost Accounting Elements MCQ and their applications. These MCQs are beneficial for competitive exams too. Explore 30+ more Cost Accounting Elements MCQs on Bissoy. Bissoy App

• Which of the following is/are not examples of administrative expenses? (i) Depreciation of office building and its equipment (ii) Interests on loans (iii) Auditing expenses (iv) Advertising and publicity expenses
  ক

  i only

  খ

  iv only

  গ

  Both i and ii

  ঘ

  Neither i nor ii
• Which of the following mathematical expression is/are not correct? i) Prime cost = Direct material cost + Direct labour cost + Direct expenses ii) Factory cost = Prime cost + Factory expenses iii) Office cost = Factory cost – Administrative expenses
  ক

  i only

  খ

  i and ii only

  গ

  i, ii and iii

  ঘ

  iii only
• Which of the following mathematical expression is/are not wrong? i) Total cost = Office cost + Selling and distribution expenses ii) Selling price = Ultimate cost + Discount iii) Selling price = Label price – Discount
  ক

  i only

  খ

  i and iii only

  গ

  i, ii and iii

  ঘ

  iii only
• Find the office cost (in Rs.) of 250 bolts and nuts if the factory cost is Rs.200 and total labour cost is Rs.200. Consider office overheads as 30% of the total labour cost.
  ক

  602

  খ

  206

  গ

  620

  ঘ

  260
• Find the factory cost (in Rs.) of 1000 studs if the prime cost is Rs.625 and total labour cost is Rs.200. Take factory on cost as 150% of the total labour cost.
  ক

  925

  খ

  952

  গ

  922

  ঘ

  955
• The total direct labour cost and the direct expenses incurred in the production of a centrifugal pump is Rs.500/- and Rs.60/- respectively. The average prime cost of the pump is calculated as Rs.800. Calculate the direct material cost (in Rs.).
  ক

  240

  খ

  402

  গ

  420

  ঘ

  204
• What is also called as market price?
  ক

  The total price of the product

  খ

  Cost of production

  গ

  Manufacturing price

  ঘ

  Catalogue price
• What is the another name for works cost?
  ক

  Prime cost

  খ

  Office cost

  গ

  Factory cost

  ঘ

  Material cost