When to ask questions about the cost price?
Questions on the cost price may also be asked by combining them with concepts like the marked price. To avoid loss due to bargaining by the customer and to get the profit over the cost price, a trader increases the cost price by a certain value.
Which is the best definition of multiple costing?
Multiple costing is a technique of using two or more costing methods for ascertainment of cost by. A. the same firm. B. the several firms. C. the same industry. D. the several industries. ANSWER: A 11. Wages paid to a labour who was engaged in production activities can be termed as. A. direct cost. B. indirect cost. C. sunk cost.
What do you mean by the cost price?
Cost Price is the price at which an article is purchased by the buyer. It is abbreviated as C. P. In the calculation of Profit and loss, the value of cost price is very crucial. Here in the section we will try and understand what we mean by cost price and we will see several types of questions that can be formed on the concept.
What does it mean to have a cost unit?
Answer – Cost means the amount of expenditure incurred upon manufacturing of an article for providing any service while Costing is the technique and process of ascertaining cost. Bonus: 18 Major Factors Affecting Capital Structure (Complete List). Q.8. Explain Cost Unit?
Multiple costing is a technique of using two or more costing methods for ascertainment of cost by. A. the same firm. B. the several firms. C. the same industry. D. the several industries. ANSWER: A 11. Wages paid to a labour who was engaged in production activities can be termed as. A. direct cost. B. indirect cost. C. sunk cost.
How to calculate the unit cost of something?
The “Unit Price” (or “unit cost”) tells you the cost per liter, per kilogram, per pound, etc, of what you want to buy. Just divide the cost by the quantity: Example: 2 liters for $3.80 is $3.80/2 liters = $1.90 per liter. Comparing Unit Prices can be a good way of finding which is the “best buy”.
What is the term associated with estimated costs?
The term associated with estimated, predetermined costs is costs. 5. Manufacturers have the cost of their inventories in several general ledger accounts. One of the accounts is Stores.
How do you answer a multiple choice question?
For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions press or click on the blank space provided. If you have difficulty answering the following questions, learn more about this topic by reading our Standard Costing (Explanation). 1.