Question 16 Not yet answered Marked out of 100 An organisation manufactures a single product. The total variable cost of making 4,000 units is OMR 20,000. What is the variable cost per unit of the product? O a OMR 2.000 O b. OMR 4.800 O COMR 5.000 Flag question O d. OMR 0.200 Question 17 Not yet answered Marked out of 1,00 Fing Question method of costing is most suited to construction of buildings, dams, bridges and roads, shipbuilding, etc. a. Contract Costing b. Batch costing O c. Job costing O d. Process costing Question 18 Not yet answered The production department of Al Noor company provides you with specific cost details. The material used OMR 34,750, Direct labour hours used: 1200 Hours, direct wages OMR 25,000. Overhead Cost is 69,500. Using these data, compute overhead rate as a percentage of direct material cost Marked out of 1.00 Flag question a. None of these Ob. 200% O c. 50% O d. 150% Question 19 Not yet answered Marked out of In marginal costing, selling prices are based on a Prime cost plus overheads b. Marginal cost plus contribution. O c. Variable cost plus profit d. Total cost plus profit 1.00 Flag question Question 20 Not yet answered Marked out of 1.00 The total of all the direct costs is known as __ O a Overhead O b. Prime cost Oc Cost of sales O d. Cost of production Flag question Question 21 Not yet answered Marked out of 1.00 Which of the following is false regarding the LIFO method of inventory valuation? a. All the given option O b. Value of closing stock will be the earliest costs O c. The material issue will be priced at the price of the material that is purchased last. O d. Value of closing stock will be at recent costs, Flag question Question 22 Not yet answered Marked out of From the given options, which wage system is not treated as an individual incentive wage system? a. Merrick's multiple rate systems O b. Taylor's different piece-rate plan O c. Priest Man Bonus Plan od Halsey Premium Method 100 Flag