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

Q. The units basis has the following limitations.

Q. Which of the following best describes a fixed cost? A cost which:

Q. Per kilometer is an example of……………..cost unit used in transport undertakings.

Q. Are the costs of opening WIP, incurred in last period and brought forward as work in progress and the costs that were incurred in the current period, treated the same way?

Q. If normal loss has a scrap value the company is able to recover some of the input costs to the process. The scrap value reduces the cost of the process.

Q. Normal loss is usually expressed as a percentage of the input units of materials.

Q. Batch costing is similar to job costing in that each batch of similar articles is separately identifiable.

Q. Which of the methods of apportionment is normally used for apportioning common costs between joint products?

Q. Overhead is actually the total of: