_____ _____ indicates maximum stock to be maintained. _____ _____ is a periodic statement of wages. _____ _____ is prepared for individual worker. _____ labour cannot be readily... _____ _____ indicates maximum stock to be maintained. _____ _____ is a periodic statement of wages. _____ _____ is prepared for individual worker. _____ labour cannot be readily identified. _____ is the application of costing and cost accounting principles, methods, and techniques to the art, science, and practice of cost control and the ascertainment of profitability. A cost centre which is engaged in production activity is called _____
Understand the Problem
The question is about various concepts in cost accounting, asking to fill in the blanks with the appropriate terms related to accounting practices. Each statement presents a definition or description that is correlated with specific accounting terminology.
Answer
1. Maximum Level. 2. Pay Roll. 3. Job Card. 4. Indirect. 5. Cost accountancy. 6. Production cost centre.
- Maximum Level. 2. Pay Roll. 3. Job Card. 4. Indirect. 5. Cost accountancy. 6. Production cost centre.
Answer for screen readers
- Maximum Level. 2. Pay Roll. 3. Job Card. 4. Indirect. 5. Cost accountancy. 6. Production cost centre.
More Information
These terms are related to cost accounting and inventory management. Understanding these terms can help in managing costs and maintaining efficient production operations.
Tips
A common mistake is confusing 'direct' and 'indirect' labour. Direct labour is directly involved in production whereas indirect labour supports the production process.
Sources
- Material Overheads Labour Chargeable Exp. - jmpcollege.org
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