ACC206

A. The following are methods of valuing stock except __________

B.  _________ are cost which cannot be influenced by the action of a specified member of an undertaking

C. _________ variable costs are those variable costs which are directly related to the production or sales level

D. ........................ is the lowest level of stock that is established by management

E. The aim of __________ is to reduce inventory levels and its attendant costs.

F. The scope of ….....…..embraces activities of the entire company, from production to marketing and at all levels within the organization from the operative to top levels

G. _______ variable costs are those variable costs which are directly related to the production or sales level

H.  ________ is the cost of sequence of operations beginning with making the packed product available for dispatch and ending with making the reconditioned returned empty package, if any, available for reuse.

I. The following are classifications of overhead except _______

J.  The point at which neither profit nor loss is made is known as the ________

K. ______________ is actually working backwards to find out the target cost, which a firm would be able to achieve

L.  _______ are costs of seeking new ideas, materials, methods of production and improved products and the development and design of such ideas so that they can be applied to formal production.

M. ...………is the process of tracking the expenses incurred on a job against the revenue produced by that job

N. ________ is an expense which contains both a fixed-cost component and a variable-cost component

O.  _______ indicates what percentage of sales is generated as operating profit

P.  _______ is a system where income is measured by the value added by a firm in a particular period

Q. _________ is the cost of sequence of operations which begins with supplying materials, labor and services and ends with the primary packing of the product.

R. _______ are costs of seeking new ideas, materials, methods of production and improved products and the development and design of such ideas so that they can be applied to formal production.

S. _______ variable costs are those variable costs which are directly related to the production or sales level

T. Accounting ratio serves as a means of________ financial information.

U.  ________ is the cost of selling to create and stimulate demand (sometimes termed as marketing) and of securing orders.

V. ________ is the cost of selling to create and stimulate demand (sometimes termed as marketing) and of securing orders.

W. ________ is the quantity of materials an organization will purchase at a time to enjoy economy of scale i.e. transport cost, bulk discount, ordering cost, holding cost, etc.

X. ___________ consist largely of those fixed costs that arise from the possession of plant, equipment and a basic organization structure

Y. _______ = Maximum usage X maximum delivery period

Z. ___________ are expenses can be directly and wholly allocated to a particular product, job or service

AA.  ______ is the cost of searching for new or improved products, new application of materials, or new or improved methods.

AB. _________are the costs which are not associated with production but are treated as expenses of the period in which they occurred

AC. ________ fixed costs are those which are set at fixed amount for specific time periods by the management in budgeting process

AD. Material variance is mainly classified into ________

AE. _________ is the cost of formulating the policy, directing the organization and controlling the operations of an undertaking which is not related directly to a production, selling, distribution, research or development activity or function

AF. How is interest cover calculated?

AG. The three elements of cost are material, labour and ________

AH. The following are part of the scope of cost accounting except ________

AI. The point at which neither profit nor loss is made is known as the ________

AJ.  ________ includes both the actual direct costs (accounting costs) plus the opportunity cost

AK.  ________ measures the efficiency of the firm in utilization of capital employed to generate income.

AL. The costs that can be easily identified with a department, process or product are termed as ______

AM.  _______ cost are costs which are a part of the cost of a product rather than an expense of the period in which they are incurred

AN. _________ variable costs are those variable costs which are directly related to the production or sales level

AO. Avoidable cost can also be known as __________

AP. In financial accounting we follow norms and rules but in ________  there is no need for them

AQ.  _______ are costs which depend on the output produced

AR. _______ = Maximum usage X maximum delivery period

AS. Items of expenses which are capable of being charged directly to the products manufactured are _________

AT.  ______ is the cost of searching for new or improved products, new application of materials, or new or improved methods.

AU. ________ measures the extent to which fixed interest liabilities relate to the equity

AV. ________ enable the management in knowing the operating efficiency of a business.

AW. _________ ratio are used to determine the ability of a firm to meet its current obligations.

AX. …………are those costs which depend on or vary according to the output produced