In production of furniture wood is a ______ material. In fashion industry, fabric thread and buttons are ______ material for making clothing. The ______ cost of using a company veh... In production of furniture wood is a ______ material. In fashion industry, fabric thread and buttons are ______ material for making clothing. The ______ cost of using a company vehicle for a personal trip is the revenue the company could have earned by renting it out. The ______ level is the ideal quantity to minimize both ordering and holding costs. In ABC analysis, ______ items typically represent items with moderate or intermediate value and significance compared to A items. ______ assumes that the oldest inventory is sold first and that the newest inventory is left in stock. In ______, employees are compensated based on the quantity or number of units they produce. The ______ is a labour payment plan that considers both quantity and time efficiency. Royalty paid is a part of ______. Store keepers salary is a part of ______. Net profit as per cost records is Rs.15000 and interest on investment not recorded in cost books is Rs. 3000. Calculate profit as per financial records.

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Understand the Problem

The question is a multiple choice questionnaire related to financial accounting and auditing, specifically focusing on cost accounting concepts. Each question requires identifying the correct term or calculation related to various cost accounting principles.

Answer

["Direct, Direct, Opportunity Cost, EOQ, Category B, FIFO, Piece work plan, Rowan System, Prime Cost, Factory Cost. Profits: Rs. 18000 and Rs. 12000"]

["1. Direct","2. Direct","3. Opportunity Cost","4. EOQ","5. Category B","6. FIFO","7. Piece work plan","8. Rowan System","9. Prime Cost","10. Factory Cost","11. Rs. 18000","12. Rs. 12000"]

Answer for screen readers

["1. Direct","2. Direct","3. Opportunity Cost","4. EOQ","5. Category B","6. FIFO","7. Piece work plan","8. Rowan System","9. Prime Cost","10. Factory Cost","11. Rs. 18000","12. Rs. 12000"]

More Information

This quiz covers various concepts in cost accounting and production management.

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