Cost accounting is a reporting system, Cost ascertainment involves, One of the following is not a costing system, Product cost means, The resources that have been used for attainin... Cost accounting is a reporting system, Cost ascertainment involves, One of the following is not a costing system, Product cost means, The resources that have been used for attaining a particular objective is, Workers who work outside the factory premises are called as _____ works, time is paid by the employer, _____ is decided on the basis of ordering cost and carrying cost, A Bill of Material serves the purpose of _____, A document used for time keeping, Annual demand=12000 units, Ordering Cost per order=Rs. 45, Carrying cost per annum per unit =Rs. 3. EOQ=_____, Economic order quantity is a tool for controlling ____.

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Understand the Problem

The question is about various concepts related to cost accounting, including definitions and calculations of terms like product cost, idle time, and economic order quantity (EOQ). It tests knowledge on these topics through multiple choice questions.

Answer

7. Internal, 8. Ascertainment of cost, 9. Uniform costing, 10. Variable cost, 11. Cost, 12. Out, 13. Overtime, 14. EOQ, 15. Material requisition, 16. Time card, 17. 600 units, 18. Inventory
  1. Internal, 8. Ascertainment of cost, 9. Uniform costing, 10. Variable cost, 11. Cost, 12. Out, 13. Overtime, 14. EOQ, 15. Material requisition, 16. Time card, 17. 600 units, 18. Inventory
Answer for screen readers
  1. Internal, 8. Ascertainment of cost, 9. Uniform costing, 10. Variable cost, 11. Cost, 12. Out, 13. Overtime, 14. EOQ, 15. Material requisition, 16. Time card, 17. 600 units, 18. Inventory

More Information

EOQ is calculated as the square root of ((2 * 12000 * 45) / 3), resulting in 600 units.

Tips

Ensure you use the correct formula to compute EOQ. Mistaking variable and fixed costs is common.

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