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Questions and Answers
Which formula is used to calculate the overhead rate based on the allocation percentage of direct material cost and factory overheads?
Which formula is used to calculate the overhead rate based on the allocation percentage of direct material cost and factory overheads?
- Overhead rate = Factory overheads : Allocation Percentage of direct material cost
- Factory overheads : Allocation Percentage of direct material cost = Overhead rate
- Allocation Percentage of direct material cost : Overhead rate = Factory overheads (correct)
- Factory overheads = Allocation Percentage of direct material cost : Overhead rate
What is the formula for calculating the machine hour rate?
What is the formula for calculating the machine hour rate?
- Machine hour rate : PREPARATION OF COST SHEET PREPARATION OF COST SHEET (CONTD.)
- PREPARATION OF COST SHEET PREPARATION OF COST SHEET (CONTD.) : Machine hour rate
- Machine hour rate = PREPARATION OF COST SHEET PREPARATION OF COST SHEET (CONTD.) (correct)
- PREPARATION OF COST SHEET PREPARATION OF COST SHEET (CONTD.) = Machine hour rate
What is the formula for calculating the percentage of direct labour cost based on the percentage on prime cost?
What is the formula for calculating the percentage of direct labour cost based on the percentage on prime cost?
- Percentage on prime cost : * 100 : Percentage of direct labour cost
- Percentage of direct labour cost : Percentage on prime cost : * 100
- Percentage of direct labour cost : * 100 : Percentage on prime cost
- Percentage on prime cost : Percentage of direct labour cost : * 100 (correct)
Which of the following components is included in the calculation of labour turnover ratio?
Which of the following components is included in the calculation of labour turnover ratio?
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Which category of labour includes workmen, production line supervisors, and transportation of material?
Which category of labour includes workmen, production line supervisors, and transportation of material?
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What is the purpose of distinguishing between direct and indirect labour?
What is the purpose of distinguishing between direct and indirect labour?
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What is the main reason for calculating labour turnover?
What is the main reason for calculating labour turnover?
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Which category of labour includes foremen, inspectors, and accountants?
Which category of labour includes foremen, inspectors, and accountants?
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