[Solved] Following are the steps in the activity-based cost allocatio (2024)

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1. a, b, c, e, d
2. a, b, e, d, c
3. a, b, c, d, e
4. a, d, c, b, e

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Q1.Given below are two statementsStatement I: The stage in the manufacturing process where joint products are separately identifiable is called split-off point.Statement II: The production costs incurred after the split-off point are called separable costs.In light of the above statements, choose the correct answer from the options given below

Q2.An economic enterprise requires 90,000 units of certain item annually. The cost per unit is Rs. 3. The cost per purchase order is Rs. 300 and the inventory carrying cost is Rs. 6 per unit per year. What is EOQ?

Q3.As per the information given below, what is the correct material yield variance ?Standard input = 100 kgStandard yield = 90 kgStandard cost per kg of output = Rs. 20Actual input = 200 kgActual yield = 182 kgActual cost per kg of output = Rs. 19

Q4.At the break-even point, contribution is equal to

Q5.An unfavourable overhead volume variance indicates that:

Q6.Which of the following are NOT assumptions of Marginal Costing?A. The total cost can be segregated into fixed and variable components.B. Fixed costs per unit of production remains constant.C. Variable cost remains constant per unit of output.D. The selling price per unit remains unchanged.E. Variable cost is variable per unit.Choose the correct answer from the options given below:

Q7.A firm can delay and favourably affect the control of its cash disbursem*nts through the use of:

Q8.Computation of overhead absorption rates should be based on:

Q9.Match List I with List II:List- IEarnings — Valuation ratiosList – IIUnderlying Description(s)A.Price - Earnings (P-E) ratio(I)Stock price divided by accounting net worthB.Earnigs Yield Ratio(II)Firm's P/E ratio divided by an index P/E ratioC.Price - Book (P/B) ratio(III)Stock price divided by the earnings per shareD.Relative P/E ratio(IV)Earning per share divided by stock priceChoose the correct answer from the options given below -

Q10.Which of the following may be the reasons for a material usage variance?(A) Negligence in the use of materials(B) Changes in basic prices of materials(C) Poor or improper machine handling(D) Wastage due to inefficient production methods(E) Change in product design requiring usuage different from the standardChoose the correct answer from the options given below:

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Q1.AS–10 (new) has come into effect from

Q2.Revenue from sale of goods ordinarily is reported as a part of the earning in the period

Q3.“Advance received from a supplier is not taken as income or sales.” This comment is based on

Q4.The policy ‘anticipate no profit and provide for all possible losses’ arises due to

Q5.____ forms the basis for the third.

Q6.When an economy is operating inside the production possibility curve, it indicates that:

Q7.The Guidotti-Greenspan-IMF rule entails:

Q8.As per the CAG (DPC's) Act, 1971, the Comptroller and Auditor General of India:(i)audits all receipts into and expenditures from the Consolidated Fund of India and of each State and of each Union Territory, having a Legislative Assembly(ii)audits all transactions of the Union and of the States relating to Contingency Funds, and Public Accounts(iii) audits receipts and expenditures of bodies or authorities substantially financed from Union or State revenue(iv) audits accounts of bodies or authorities by request

Q9.Which of the following statements is INCORRECT?

Q10.Which of the following statements is INCORRECT in the context of budget and fiscal deficit?