NPTEL Cost Accounting Week 1 Assignment Answers 2024
1. The Cost accounting statement is prepared for
- Creditors
- Government
- Internal User
- Shareholder
- None of the above
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2. Which of the following is an example of a variable cost?
- Rent for factory building
- Cost of raw materials
- Salary of a permanent employee
- Insurance premiums
- None of the above
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3. The cost which is not associated with decision making about the future
- Variable cost
- Marginal cost
- Fixed cost
- Sunk cost
- None of the above
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4. How would the salary of a factory supervisor be classified?
- Indirect cost
- Direct cost
- Marginal cost
- Standard cost
- None of the above
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5. Which of these is a correct statement?
- Cost center can be a location, person or item of equipment
- Cost center can be a location, person or item of equipment in which costs are incurred
- Cost center can be a location, person or item of equipment for which costs may be ascertained and used for control
- None of the above
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6. Which type of cost is associated with an opportunity foregone?
- Fixed cost
- Variable cost
- Sunk cost
- Opportunity cost
- None of the above
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7. The electric unit cost is incurred to produce 18,000 units. After producing such units, the electric cost changes for extra unit of additional used is called as
- Variable cost
- Semi-variable cost
- Direct cost
- Indirect cost
- None of the above
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8. Krishna Ltd. budgets for a production of 250000 units. The variable cost per unit is Rs.16 and fixed cost per unit is Rs.7 per unit. The company fixes the selling price to fetch a profit of 35% on cost. Compute the profit/volume ratio.
- 40.56%
- 48.47%
- 46.66%
- 31.45%
- None of the above
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9. The budgeted sales of the products of a Balaji Ltd. are as follows:
From the above information, you are required to compute the Budgeted margin of safety in terms of sales value for each product.
- A=38000, B=41000, C=64750
- A=38400, B=45000, C=68750
- A=37400, B=50500, C=63550
- A=37000, B=49000, C=69000
- None of the above
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10. Surya Ltd. has earned contribution of Rs. 4,00,000 and net profit of Rs. 1,50,000 on sales of Rs. 12,00,000. Calculate the PV ratio and Margin of Safety.
- Margin of Safety = Rs. 1,50,000 and PV ratio = 30%
- Margin of Safety = Rs. 4,50,000 and PV ratio = 33.33%
- Margin of Safety = Rs. 3,75,000 and PV ratio = 40%
- Margin of Safety = Rs. 7,50,000 and PV ratio = 30%
- None of the above
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