CMA


                 TOPIC - COST ACCOUNTING
1.    Batch costing is suitable for
A.   Oil Industry
B.    Sugar Industry
C.   Chemical Industry
D.   Pharmaceutical Industry

2.    Idle time is
A.   Time spent by workers in office
B.    Time spent by workers in factory
C.   Time spent by workers off their work
D.   Time spent by workers on their job

3.    Warehouse expense is an example of
A.   Production overhead
B.    Administration overhead
C.   Selling overhead
D.   Distribution overhead

4.    Standard deals with the principles and methods of determining depreciation and amortization cost is
A.   CAS-8
B.    CAS -11
C.   CAS-16
D.   CAS-20
5.    In Reconciliation Statement expenses shown only in cost accounts are
A.   Added to financial profit
B.    Deducted from financial profit
C.   Ignored
D.   Deducted from costing profit

6.    In a job cost system, costs are accumulated
A.   On a monthly basis
B.    By specific job
C.   By department or process
D.   By kind of material used

7.    In a process 6,000 units are introduced during a period. 5% of input is normal loss. Closing work-in-process 60% complete is 800 units. 4,900 completed units are transferred to next process. Equivalent production for the period is
A.   6,800 units
B.    5,700 units
C.   5,680 units
D.   5,380 units

8.    Which of the following best describes a fixed cost?
A.   It may change in total where such change is unrelated to changes in production.
B.    It may change in total where such change is related to changes in production.
C.   It is constant per unit of change in production.
D.   It may change in total where such change depends on production within the relevant range.

9.    Z Ltd. is planning to sell 1,00,000 units of product A for Rs. 12.00 per unit. The fixed costs are Rs.2,80,000. In order to realize a profit of Rs. 2,00,000, what would the variable costs be?
A.   Rs. 4,80,000
B.    Rs. 7,20,000
C.   Rs. 9,00,000
D.   Rs. 9,20,000

10.  Sales budget is an example of
A.   Expenditure budget
B.    Functional budget
C.   Capital budget
D.   Master budget


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