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092/23

State whether the following statements are true or false.
I. The time lost when production is interrupted for machine maintenance is an
abnormal idle time.
Il. The time wasted due to breakdown of machinery is an abnormal idle time.

A) Both | and II are true B) Both | and Il are false
C) Lis true and Il is false D) Lis false and II is true
The cause for incurrence of overhead cost are known as

A) Cost drivers B) Cost pool

C) Cost element D) Cost process

Material Mix Variance is favourable when

A) Standard quantity is more than the actual quantity

B) Actual quantity is lower than the revised standard quantity
C) Actual quantity is more than the revised standard quantity
D) Standard quantity is lower than the actual quantity

State whether the following statements are true or false.
|. Standard costing helps to apply the principle of “Management by Exception”.
Il. Standard costing cannot be applied to service organisation.
A) Both | and II are true B) Both | and Il are false
C) Lis true and Il is false D) Lis false and II is true

Which of the following equation is wrong regarding variable cost ?
A) Variable Cost = Sales — Contribution

©) Variable Cost = Sales (1 — Profit Volume ratio)

C) Variable Cost = Sales — (Sales x Profit Volume ratio)

D) All are correct

In a manufacturing company provides the information relating to process | : Material
Consumed — 2500 units, Normal Loss — 15%, the net production in the process is
2150 units. Abnormal units will be

A) 375 B) +25 ©) -25 D) None of these

Which of the following are indirect labours under selling overheads ?

. Salaries of salesmen

. Commission of salesmen

. Salaries of godown employees

. Salaries of technical representatives

. Wages of drivers of delivery van

. Wages of packing and dispatch staff

. Fees of sales directors.

A) 1, 2,3, 7 8) 1, 2, 4, 7 0७) 1, 2, 6, 7 0) 1, 2, 4, 6

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