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Historical cost which is irrecoverable in a given situation is called
Imputed cost
Sunk cost
Opportunity cost
Standard cost
Bin card is maintained by
Sales manager
Purchase manager
Store keeper
Finance manager
Difference in cost of alternative choices is called
Variable costing
Total costing
Differential costing
Full costing
Purchase Requisition is sent to
Accounts department
None of above
Purchase department
Finance department
Endorsement is made:
None
For settlement of profit
For settlement of income
For settlement of debts
Sales prices is calculated as follow:-
Cost + operating expenses + profit
None of above
Direct material + Direct labour + F.o.H
Cost + operating expense
If spoiled goods are considered a normal part of production process than debit to
F.o.H control
General expense
None of above
Work in process
Section of the business to which cost can be charged is termed as
Cost center
Cost driver
All of above
Cost unit
Depreciation is a loss due to wear and tear of an asset.
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