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Q. It is possible to have abnormal loss and abnormal gain on the same process account in the same period.

Q. Indirect production costs are incurred in three main ways: • Production activities: costs arising in production departments such as fuel, depreciation, supervision • Service activities: the cost of operating non-producing departments such as materials handling, canteen • Establishment costs: general production overheads such as factory rent/rates, heating and lighting

Q. Wages paid to a office cleaning staff who was engaged in Administration activities a can be termed as.

Q. The wages paid to maintenance department workers who do repair work principally for production departments but also on the vehicles in the distribution department should be charged as

Q. A cost that changes in total dollar amount with the change in the level of activity is known as:

Q. Specific order costing methods are appropriate for organizations which produce cost units which are separately identifiable from one another.

Q. A contract is generally of ………………..duration.

Q. Identify which of the following statement is correct.

Q. A cost that is easily traceable to a cost object is known as:

Q. If the amount of work certified is less than………of the contract price,then no profit should be taken to Profit & Loss Account.