Top 150+ Solved Applied Cost Accounting MCQ Questions Answer
Q. The method of costing applied in biscuit industries is …………………….
a. Jo
b. process
c. contract
d. unit
Q. Average unit cost for each process is calculated by dividing ……………..by…………….
a. Total process cost / No.of units in process
b. Total process cost / Total cost
c. Total cost / Total profit
d. None of these
Q. Where raw material is to pass certain stages before it is converted into finished goods, the method of costing used is ……………………
a. Contract
b. Process
c. unit
d. Batch
Q. When the actual loss is more than the estimated loss, the difference between the two is considered to be ,………………….
a. Abnormal gain
b. Abnormal loss
c. Normal loss
d. Normal gain
Q. ……………….. process loss should be transferred to costing profit and lossaccount
a. Normal
b. abnormal
c. actual
d. none of these
Q. The cost of ……….. process loss is absorbed in the cost of production ofgood units
a. Normal
b. abnormal
c. actual
d. none of these
Q. Where actual loss in a process is less than the anticipated loss , thedifference b/w the two is considered to be …………..
a. Normal los
b. Abnormal gain
c. normal gain
d. None of
Q. ……… is the difference b/w the sales and marginal cost of sale
a. Profit
b. contribution
c. p/v ratio
d. none f these
Q. Cost of producing an additional unit of output is ……………
a. Historical cost
b. marginal cost
c. fixed cost
d. total cost
Q. A cost do not change with changes in the level of activity is ………….
a. Variable cost
b. fixed cost
c. sunk cost
d. total cost
Q. A cost both containing both fixed and variable elements ………………..
a. Variable cost
b. fixed cost
c. total cost
d. semi variable cost
Q. The excess of sales over variable cost is known as ………………
a. profit
b. loss
c. contribution
d. margin
Q. Establishes the relationship between cost , volume of sales and profit is…..
a. Marginal costing
b. standard costing
c. budgeting
d. Cost volume profit analysis
Q. A point at which there is neither profit nor loss ………………
a. No profit no loss point
b. Break even point
c. Margin of safety
d. contribution
Q. Excess of sales over break even sales is known as …………………..
a. No profit no loss point
b. Breakeven point
c. Margin of safety
d. contribution