Costing, Cost Sheet, Inventory Management

An item of cost is direct for one business may be (a)   for another business.

total of all direct expenses is known as (a)   cost.

(a)   costs are partly fixed and partly variable in relation to output.

All indirect costs related to indirect material, indirect labour and indire of actiones are termed as (a)   .

Factory cost plus administrative overheads is known as (a)   .

Total variable cost does not increase in total proportion to output.

• TRUE

• FALSE

Variable cost per unit remains constant.

• TRUE

• FALSE

Costing and cost accounting are the same.

• TRUE

• FALSE

Fixed cost does not change in the same proportion in which output changes

• TRUE

• FALSE

Administration expenses are mostly fixed. Abnormal cost is controllable.

• Both are TRUE

• Both are FALSE

• TRUE, FALSE

• FALSE, TRUE